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Which of the following best describes a key feature of CBDCs?

A) Complete anonymity in transactions

B) Government control and oversight of the currency

C) Operates on a public blockchain

D) Can be mined by individuals

Central Bank Digital Currencies (CBDCs) are decentralized digital currencies like Bitcoin.

True

False

What is one potential benefit of CBDCs for governments?

A) Ability to facilitate cross-border payments without banks

B) Full transparency in every financial transaction

C) Enhanced control over monetary policy and financial surveillance

D) Increased user privacy

Which country has made significant progress toward issuing its own CBDC?

A) Japan

B) El Salvador

C) China

D) United States

China has already implemented a form of CBDC with its Digital Yuan.

True

False

What is a potential downside to CBDCs for individual users?

A) Reduced transaction fees

B) Government surveillance of spending habits

C) Difficulty in accessing the currency

D) Less transparency

Which of the following is NOT a feature of CBDCs?

A) Fully centralized control

B) Anonymous peer-to-peer transactions

C) Enhanced regulatory oversight

D) Efficient cross-border payments

CBDCs can help governments implement negative interest rates directly on citizens' accounts.

True

False

Which of the following is a use case for CBDCs in international trade?

A) Automating smart contracts on the Ethereum network

B) Reducing friction and settlement time for cross-border transactions

C) Mining digital currencies through staking

D) Completely replacing traditional banking systems

What distinguishes CBDCs from decentralized cryptocurrencies?

A) They use the same consensus mechanisms

B) CBDCs are government issued and regulated

C) They are mined using the same protocols

D) CBDCs guarantee privacy from government oversight

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