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.
Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards
The Chinese central government has put together a national blockchain committee to work on setting industrial standards. The Ministry of Industry and Information Technology (MIIT) issued a notice on April 13 of the “Public Notice on the Formation of a National Blockchain and Distributed Ledger Technology Standardization Technical Committee.”
Digital Currency: Trust in Government or Elegy for Privacy?
Today, many countries are eagerly investing their resources to create a digital version of their currencies. Cryptocurrencies, once written off by the lawmakers are now inspiring the same authorities. What does Digital Currency mean to the governments, to the people and to the society?
China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank
China’s central bank has further galvanised its public commitment to creating the first central bank digital currency (CBDC), a digital version of the Yuan, at an annual meeting hosted last Friday by the People’s Bank of China (PBoC) vice governor Yifei Fan.
South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity
South Korea’s central bank recently announced that it has launched a pilot program assessing the issuance of a central bank digital currency (CBDC). The Bank of Korea has stated that there are no immediate plans to launch a CBDC, however, the pilot program will allow the central bank to be prepared in the future if the changing market conditions require its issuance.
The End of Physical Cash is an Inevitable Reality and Not to be Feared Says Union Bank President
As the world tries to come to terms with the coronavirus outbreak, recently Edwin Bautista chief executive and president of UnionBank of the Philippines revealed how digital services could support consumers as they increasingly self-isolate themselves or have to work remotely for an extended timeframe. The fintech leader projected the end of cash as the coronavirus crisis provokes banks to fast track the shift towards digital. But will the end of physical cash become a reality? The trend towards cashless remains inevitable as the current events seem to accelerate this process.
Bank of France Tests Out Potential Central Bank Digital Currency by Launching Experiment Program
The Bank of France (Banque de France) is launching a program of experiments testing out a potential central bank digital currency (CBDC) aimed for interbank settlements. Potential participants are being invited to submit their applications, as the Bank of France is calling for applications to experiment with the use of a digital euro.
The Issuance of China's CBDC On The Horizon, According to Insiders
The issuance of central bank digital currencies (CBDCs) has been gaining traction as various nations have shown interest. The People’s Bank of China (PBoC), China’s central bank, has finished the development of a CBDC’s basic function and relevant laws are being drafted to set the ball rolling for its circulation.
IMF Official Talks Benefits and Shortcomings of CBDCs, Proposes a Hybrid Solution
Tao Zhang, deputy managing director of the International Monetary Fund (IMF), acknowledges the tremendous promise that CBDCs hold and challenges lying ahead.
The Bahamas Racing Ahead with the Sand Dollar
The Bahamas are rolling out their Sand Dollar digital currency across the island chain and look to be ahead of some of the larger countries around the world.
Ethereum’s Vitalik Buterin: Centralized Digital Currencies Without Privacy Are a Huge Step Back
Vitalik Buterin the Ethereum co-founder believes that mainstream adoption of digital currencies is inevitable, with or without blockchain, but will that currency be sovereign, corporate or decentralized?