Starting in 2022-23, the Reserve Bank of India (RBI) will issue a digital rupee using blockchain and other technologies. This will provide a significant boost to the economy, according to Finance Minister Nirmala Sitharaman, who presented the Budget 2022.

The RBI will back the digital rupee, representing an Indian rupee (RBI). India isn’t the only country experimenting with digital legal tender. Projects like the digital dollar, e-yuan, and digital euro are being tested by central banks worldwide.