Amara's Law and CBDC Development

CBDC as an Instrument A spectrum of "cash-like" and "deposit-like" features 24 x 7 hours direct access; offline capacity Safety and integrity Integration with markets for tokenized assets Programmability: an efficient fiscal tool, and for "Internet of Things" Not just another form of e-money or payment instrument but a monetary foundation of the digital economy INTERNATIONAL MONETARY FUND 8

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