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What is meant by biometric authorization? Give some examples. Why might a central bank switch from...

What is meant by biometric authorization? Give some examples.

Why might a central bank switch from fiat money to digital money?

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Biometric authorization means giving your authorization by thumb impression (fingerprints). Example of Biometric authorization are (1) fingerprint scanning, (2) iris scanning of the eye, (3) facial recognition and (4) voice recognition

Central banks shifted from fiat money (paper money) to digital money so as to remove unauthorized use of cash and prevent tax evasion. With paper money, there is a certain anonymity which can lead to hoarding of cash (called black money) and possible tax evasion.

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