Figure 1
A diagram illustrating three models of Central Bank Digital Currency (CBDC) distribution. Panel A shows the one-tier CBDC model where the Issuing Central Bank directly distributes CBDC to the General public. Panel B depicts the two-tier CBDC model where the Issuing Central Bank distributes CBDC to Commercial banks, which then distribute it to the General public. Panel C illustrates the multi-tier CBDC model where the Issuing Central Bank distributes CBDC to Cooperative societies, Commercial banks, and Fintech providers, which then distribute it to the General public.Illustration of the different types of CBDC distribution model. Source: Author