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A major budget announcement was the launch of central bank digital currency (CBDC). Analyse the various the challenges pertaining to CBDC that must be overcome for it be successful. (150 words, 10 marks)

9. A major budget announcement was the launch of central bank digital currency (CBDC). Analyse the various the challenges pertaining to CBDC that must be overcome for it be successful. (150 words, 10 marks)