CASH has long been the cornerstone of Filipino financial transactions, but a digital wind is blowing, and it carries with it the promise and peril of Central Bank Digital Currencies (CBDCs).

At a glance, the concept of CBDCs feels straight out of a science fiction novel. Imagine money, but not as we know it — digital, swift, and without the inconvenient need for physical wallets. Unlike the cryptocurrency fever that gripped the world, CBDCs come with a government's seal of approval, providing an added layer of trust.

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