Electronic versions of currency already dominate most countries’ financial systems. What differentiates digital currency from the electronic currency that’s already in Americans’ bank accounts is that digital currency never takes physical form. Cryptocurrency is a form of decentralized digital currency that isn’t pegged to any fiat currency. It uses cryptography to manage its ledger systems, and the market determines its value. Around the world, other countries are a little further along with digital currencies. The history of the society development and its scientific and technological progress is constantly correlated with the history of wars.
This makes them a form of digital currency controlled by a central authority. Governments issue them, and the particular nation’s monetary policy sets their value. The development of information and communication technologies has undergone rapid changes because of which many activities are integrated online and have become more pliable and effectual.
The Russian and Soviet historiography deliberately distorted the facts and events of the time leading to the improper assessment of the annexation of Georgia and the Caucasus. The European contacts of King Erekle II of Kartli-Kakheti were deliberately erased, and hence the Caucasus was declared a geostrategic space on Russian orbit and was artificially separated from the global historical processes. Therefore, a violent political act, the conquest of Georgia was disguised as an alliance corresponding to the idea of Christian common faith.
This research adopts the doctrinal method aiming to highlight the advantages and disadvantages of cryptocurrencies, in addition, to provide an explanation of the principle and historical development of them. Finally, the research found that it is essential to raise awareness among people about cryptocurrency as the lack of knowledge represents a serious indicator. It was founded that cryptocurrencies pose many questions as they are still new.
This means the only way to invest in a CBDC is to hold the currency in your account. In other words, investing in CBDCs is just like holding a nation’s physical cash in your hand today. The central banks of China and the United Arab Emirates are also working on a project to use blockchain and CBDC for regional payments between nations. If these projects are a success, they could give more motivation to other nations to create their own CBDC. When you use crypto as a form of payment, you also create a taxable event, which means you may owe capital gains taxes each time you purchase something with Bitcoin or Ethereum’s Ether token.
The review also presents the motivation and benefits of issuing a central bank digital currency such as the need to improve the conduct of monetary policy, the need to enhance the efficiency of digital payments and the need to increase financial inclusion. The review also shows that many central banks are researching the potential to issue CBDCs due to its many benefits. However, a number of studies have called for caution against over-optimism about the potential benefits of CBDC due to the limiting nature of CBDC design and its inability to meet multiple competing goals. The implication of the findings of this review is that central bankers need to pay more attention to the design features of CBDC.
The desire to raise a person’s standard of living, the rapid pace of life and the aspiration to its high quality have always depended on inventions, technological innovations and the continuous process of development. The importance of using modern technologies and precision intellectual weapons in a 21st century war is discussed. The issue of reconnaissance drones and the kinetic-strike capability of drones in combat is highlighted, as well as their support by space-based systems.
