How are you? By Allah's grace, I'm doing very well. Today, the topic I want to discuss is digital currency.

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The currency we use in the present world is paper currency. Now it is said that what is called digital currency? The digital currency is a Central Bank Digital Currency or CBDC, which is fully legal by the government. Which can be issued by a country's bank, but it will be through digital medium. Notes or coins are used by all as a convenient medium of exchange, bearing the seal of the government (to mean a genuine copy). These money or coins are completely legal. Digital transactions will be done digitally. Now the question may come to you what is the purpose of bringing digital currency? Its purpose is very simple, first of all it will save the cost of printing notes or coins, along with several financial transaction benefits, protection from harassment, lower cost of payment system etc.

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But there is a difference between Bitcoin and digital currency. Cryptocurrency users remain anonymous using blockchain technology but this official digital currency is fully controlled by banks. The current value of a paper currency will be the value of a digital currency, many countries' central banks have already introduced digital currencies. According to many analysts, the currency of the country's central banks can take over the international market in the coming days. A number of cryptocurrencies have emerged in the digital medium since a long time ago. Coins like bitcoin, ethereum etc. but used by many, the main difference between cryptocurrency and digital currency is that cryptocurrency has no owner (cryptocurrency is not controlled by any specific person or any specific organization) but we all know that banks are controlled by government.

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We can use e-wallet for online transactions, the difference between e-wallet and digital currency is that e-wallet has no value of its own, it depends on the specific currency i.e. the value of money in the international market which is also the value of the money kept in the e-wallet. . Similarly, the value of euro or US dollar in an e-wallet is the same as that of a paper euro or dollar, but the digital currency will have its own value. It will not depend on the price of money and we will get these extra benefits by using digital currency.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.