CBDC
What is a CBDC?
A central bank digital currency (CBDC) is a new digital form of sovereign money. CBDCs are issued by the government, where monetary policies are still formed by the central bank.
A central bank digital currency (CBDC) is a new digital form of sovereign money. CBDCs are issued by the government, where monetary policies are still formed by the central bank.
Blockchain Technology Powers Brazil's National Identity Card Issuance
Brazil has commenced the use of blockchain technology for issuing the National Identity Card (CIN) to enhance security and data integrity in the new identity issuance process. The initial phase begins in three states with a nationwide deadline set for November 6, 2023. This move is part of Brazil's broader initiative towards leveraging blockchain for public service improvement, aligning with global trends of digital identity verification.
CBDCs on the Rise: What the Decline of Physical Cash Means for Blockchain and Privacy
The decline in the use of physical cash raises important questions about the loss of personal freedom and privacy. As central banks explore the development of CBDCs, the design and implementation of these digital currencies will play a critical role in balancing convenience and personal liberties.
Swift's CBDC Connector Enters Beta Testing with Global Central Banks
Swift, a leading provider of secure financial messaging services, has announced beta testing of its Central Bank Digital Currency (CBDC) interoperability solution. The initiative aims to bridge the gap between digital and fiat-based currencies, with three central banks and over 30 financial institutions participating in the second phase of sandbox experiments. Swift's CBDC initiative aims to ensure digital currencies and tokenized assets seamlessly integrate into the financial ecosystem, preventing "digital islands" and facilitating global value transfer.
Hong Kong and Israel Central Banks Collaborate on Retail CBDC Prototype
The Hong Kong Monetary Authority (HKMA) and the Bank of Israel (BOI) have collaborated on a report titled "Project Sela – An accessible and secure retail CBDC ecosystem". The project aims to create a retail central bank digital currency framework that encourages competition and innovation in digital payments.
Mastercard's CBDC Initiative: Ripple Joins as Key Partner in Digital Currency Evolution
Mastercard launches a CBDC program with Ripple as a key partner, aiming to enhance digital currency interoperability and adoption globally.
South Korea Advances CBDC Pilot Project: Jeju, Busan, and Incheon Selected as Test Regions
South Korea selects Jeju, Busan, and Incheon for its CBDC pilot project, excluding Seoul. The Bank of Korea aims to test digital currency issuance and distribution.
Exclusive: Johan Hörmark on SEB's Blockchain-Driven Bond Platform
Johan Hörmark, Project Manager at SEB, discusses the transformative potential of their blockchain-based digital bond platform, so|bond, in the financial secto
The Reserve Bank of India is Expanding CBDC While Dismissing Privately Issued Stablecoins
The Reserve Bank of India (RBI) is planning to increase the number of Central Bank Digital Currency (CBDC) transactions to one million per day by the end of 2023, according to Deputy Governor T Rabi Sankar.
BIS Survey: 93% of Central Banks Engaged in CBDCs, 15 Retail and 9 Wholesale CBDCs Expected by 2030
The Bank for International Settlements (BIS) has released a survey revealing that 93% of central banks are now engaged in some form of Central Bank Digital Currency (CBDC) work, with retail CBDCs taking the lead over wholesale CBDCs.
Ripple's CBDC Team Reveals Real Estate Tokenization
Antony Welfare, Ripple's CBDC adviser, recently participated in a fintech conference in Central and Eastern Europe (CEE), where he presented two groundbreaking use cases. One of these is the tokenization of real estate, a concept that is rapidly gaining momentum as a potential future for the real estate industry, as he claimed