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  • Foreign Policy Magazine

    Government-backed cryptocurrency could become a reality

    Jan 19, 2021 3 minutes

    They have been around for a while, but it was not until 2017 that cryptocurrencies really gained global attention as the price of a Bitcoin surged to almost $20,000.

    When Facebook announced Libra, its new cryptocurrency payment system, last year, the conversation hit all levels of society and politics. Earlier this year, 80 percent of central banks were working on a central bank digital currency (CBDC), 40 percent were experimenting with proofs of concept,

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