IS THEre any difference between using default and := in plsql 1

IS THEre any difference between using default and := in plsql

DECLARE
    blood_type CHAR DEFAULT 'O';         -- Same as blood_type CHAR := 'O';
    hours_worked    INTEGER DEFAULT 40;  -- Typical value
    employee_count  INTEGER := 0;        -- No typical value

  BEGIN
    NULL;
  END;
  /

Here is what the above code is Doing:
1. Declaring a variable called blood_type and assigning it a default value of ‘O’.
2. Declaring a variable called hours_worked and assigning it a default value of 40.
3. Declaring a variable called employee_count and assigning it a value of 0.

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