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Fortune

Leo Schwartz

Can a CBDC be truly private?

CBDC Jay Stanley Leo Schwartz Leo Schwartzleoschwartzfortunecomleomschwartz Crypto Ron DeSantis Tom Emmer Bitcoin KYC PayPal

(Credit: Sean Rayford—Getty Images)

Proof of State is the Wednesday edition of Fortune Crypto where Leo Schwartz delivers insider insight on policy and regulation.

Crypto is filled with contentious acronyms. The newest front has emerged around CBDCs, or central bank digital currencies—a kind of government-backed alternative to cryptocurrencies, such as the Bahamian Sand Dollar or the Nigerian eNaira. Digital payments are here to stay, whether offered through services like Venmo and PayPal, decentralized blockchains like Bitcoin and Ethereum, or government-backed projects like CBDCs, and the only question is which future wins out.

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