CBDC (Central Bank Digital Currency)

Implement the concept of " Central Bank Digital Currency" as a use case for Stablecoins.

CBDC (Central Bank Digital Currency) is not available in the United States

SDA-13

  • Leveraging the SDA-13 Stablecoin Standard on the Litecoin Network represents a significant advancement in digital currencies, particularly for the development of Central Bank Digital Currencies (CBDCs). By utilizing this unique standard, a CBDC can be created with a robust framework that ensures each digital token is backed on a 1:1 basis with a stable asset, such as a fiat currency. The SDA-13 standard's integration with the Litecoin blockchain capitalizes on the network's strengthsβ€”enhanced security, swift transaction times, and global reachβ€”while also benefiting from significantly lower transaction fees compared to other platforms like Ethereum and Solana. This cost efficiency, coupled with the inherent stability offered by asset backing, makes the SDA-13 standard an optimal choice for the creation of a CBDC.

    Kakr Labs provides Developers leveraging APIs/SDK for this. You can Create Tokens and send Tokens under different Token Standards based on which category your token belongs to. Here is an example API call (in JavaScript) of how you can create a token on SDA-13 standard under the Litecoin Blockchain Network.

const axios = require('axios'); 

let data = JSON.stringify({ 

  "address": "<Your Litecoin Address(M))>", 

  "mainnet": true, 

  "divisible": true, 

  "amount": "1000000", 

  "category": "SDA-13", 

  "subcategory": "stablecoins", 

  "name": "USDT", 

  "url": "/", 

  "description": "Sample description should goes in here" 

}); 

let config = { 

  method: 'post', 

  maxBodyLength: Infinity, 

  url: 'https://pteri.xyz/api/FungibleTokens/CreateToken-v2', 

  headers: {  

    'encryptedpassphrase': 'XXXXX',  

    'wallet': '<wallet-Name>',  

    'Content-Type': 'application/json'  
    
  }, 
  data: data 
}; 

axios.request(config) 

.then((response) => { 
  console.log(JSON.stringify(response.data)); 
}) 

.catch((error) => { 
  console.log(error); 
}); 

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