The first country to introduce a CBDC was the Bahamas in 2020 with the launch of its digital currency called the "Sand Dollar." Since then, many countries have been experimenting with CBDCs, including Nigeria, China, Sweden, Canada, and the United States. In particular, China has made significant progress in developing its CBDC and has already started piloting its use in several cities across the country. However, the main purpose behind the creation of CBDCs is to provide an alternative payment system that is more efficient... read full review »