Abstract: The paper will discuss the revolutionary importance of blockchain technology in remaking the international financial arena, with specific reference to the influence of blockchain technology on the development of digital currencies. A decentralized, immutable distributed registry system, blockchain, is the basis of transparency, security, and trustless verification that forms the foundation of the current infrastructure of digital currency. The study examines the use of the major applications such as Central Bank Digital Currencies (CBDCs), Decentralized Finance (DeFi), cross-border payment systems, and asset tokenization through a review of recent literature. As noted in....
Keywords: Blockchain Technology, Digital Currencies, Central Bank Digital Currencies (CBDCs), Decentralized Finance (DeFi), Tokenization.
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