In 2021, there has been a growing interest in the development of smart banknotes and cryptobanknotes. These innovative hybrid banknotes are designed to cater to the needs of central bank digital currencies (CBDCs) and cryptocurrencies. Smart banknotes combine the traditional features of physical banknotes with advanced technologies, such as embedded microchips or QR codes, to enable secure and traceable transactions. On the other hand, cryptobanknotes aim to bridge the gap between physical and digital currencies by incorporating cryptographic features and blockchain technology. These hybrid banknotes offer the potential for increased transparency, efficiency, and security in the realm of digital payments, providing a promising solution for the future of monetary systems.
HomeDIGITAL ASSETS REGULATORYbis_asset_updateGuide to Offline Payments Using Central Bank Digital Currency: Project Polaris