Thus, CBDCs need to provide tangible benefits for users to switch from an already working system. For instance, India’s e-rupee plans to target those who don’t have bank accounts, in contrast to UPI, which enables bank-to-bank transfers. Further, UPI doesn’t permit cross-border transactions, but CBDCs can potentially tackle this issue once a global standard is established.
Source: https://www.coindesk.com/consensus-magazine/2022/12/19/future-of-cbdcs-2023-india-us/?utm_medium=referral&utm_source=rss&utm_campaign=headlines