India To Make CBDC Available Offline Aiming Wider Adoption
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India’s RBI is in the process of making its CBDC available offline to improve its accessibility and user experience. RBI Governor stressed the importance of ensuring its ease of use and wider adoption across the diverse demographics in India. RBI is also cautious about cryptos viewing them as potential threats to economic and financial stability due to their unpredictable nature against the more stable and controlled CBDC. Through the digital rupee pilot project that has engaged 1.3 million customers and 300,000 merchants, RBI aims to make CBDC a viable and secure alternative to cash and crypto.
