Digital currency impossible to reverse a transaction, justified or not. It is very similar to cash. Advantages of this system include it being cheaper to operate, and transactions are instantaneous. Western Union, KlickEx and Bitcoin are examples of this type of currency. Soft electronic currencies are the opposite of hard electronic currencies. Payments can be reversed. Usually, when a payment is reversed there is a "clearing time." This can take 72 hours or more. Examples of soft currencies are PayPal and any type of credit card. A hard currency can be "softened" with a third party service. Many existing digital currencies have
Central Bank Digital Currency Central Bank Digital Currency Central bank digital currency (CBDC, also called "Digital Fiat Currency" or "digital base money") is the digital form of fiat money which is a currency established as money by government regulation or law. Central bank digital currency is different from "digital currency" (or virtual currency and cryptocurrency), which are not issued by the state and lack the legal tender status declared by the government. As such, public digital currencies could compete with commercial bank deposits and challenge the status quo of the current fractional reserve banking system. The Bank of England was one of the first