CURRENT AFFAIRS

Detailed explanation-1: -Q. Which of the following countries have launched a common digital currency “Aber”? Notes: The central banks of the UAE and Saudi Arabia have launched a common digital currency called “Aber”, which will be used in financial settlements between the two countries through Blockchains and Distributed Ledgers technologies.

Detailed explanation-2: -Detailed Solution. The correct answer is Saudi Arabia and UAE. The central banks Saudi Arabia and UAE have decided to launch a common digital currency named Aber.

Detailed explanation-3: -Some countries, including China, India, Nigeria and the Bahamas, have already rolled out digital currencies. Others, like Sweden and Japan, are preparing for possible rollouts.

Detailed explanation-4: -10 countries have launched a CBDC, the first of which was the Bahamian Sand Dollar in 2020, and the latest was Jamaica’s JAM- DEX.

Detailed explanation-5: -A U.S. CBDC will be the digital or electronic form of the dollar that acts as legal tender and is regulated by the government. A U.S. CBDC will act as a supplement to existing forms of payment. Identity verification, intermediaries, and privacy protection are required parts of launching a CBDC.