Central banks across the world are experimenting with different kinds of models to issue the CBDCs. The Eastern Caribbean Central Bank has adopted CBDC approach that depends on consumers holding deposit accounts with the central bank. The Chinese model to distribute eCNY (digital Yuan) depends on the private banks to maintain the accounts of the customers. The European Central Bank, under consideration, envisages the licensed financial institutions to operate a permissioned node of the blockchain network and act as a distribution channel for the digital Euro.