India seems to be inching closer to launching its very own Central Bank Digital Currency (CBDC) as the Reserve Bank of India (RBI) released a concept note regarding the same on Friday. While many industry leaders and stakeholders see this as a step towards embracing blockchain technology, others find it to be a play against the current market interest in cryptocurrencies. Naimish Sanghvi, co-founder of CoinCrunch India, stressed that RBI's CBDC seems to be a play against India’s interest in the realm of blockchain and crypto. Menon said, “Some points remain unclear - the note remains silent on whether the CBDC will be blockchain/distributed ledger-based or a typical centralised database.” CBDCs can be broadly classified as Retail and Wholesale CBDCs. Retail CBDC refers to the digital currency that the public in general uses for day-to-day transactions. Source: BusinessToday #CBDC