India's own digital currency coming soon, know how different it is from other cryptocurrencies

Digital currency is the same as currency issued by a central bank but takes a different form than paper (or polymer). 

New Delhi: A couple of months ago, the Reserve Bank of India had said that it is working on phased introduction of its own digital currency. RBI Deputy Governor T Rabi Sankar said in a keynote address at the webinar organised by the Vidhi Centre for Legal Policy in the national capital. CBDC is the same as currency issued by a central bank but takes a different form than paper (or polymer). It is sovereign currency in an electronic form and it would appear as liability (currency in circulation) on a central bank’s balance sheet. The underlying technology, form and use of a CBDC can be moulded for specific requirements. CBDCs should be exchangeable at par with cash.