Tag Archives: CBDC

The Brazil Central Bank Digital Currency will initially focus on wholesale interbank transaction payment solutions. Banco Central do Brasil (the Central Bank of Brazil) plans to include more participants in its digital currency scheme. The list, released by the bank on May 24, includes the names of all the participants with whom the CBDC digital real is set to launch. The final list of 14 participants was compiled from 36 bids submitted by individuals and collaborating entities, totaling...

Ramping up its CBDC game, Ripple announced the launch of a new platform for central banks, governments, and financial institutions to issue their own central bank digital currency. Dubbed ‘Ripple CBDC Platform,’ the offering will leverage the same blockchain technology used on the XRP Ledger (XRPL). The platform is developed to address multiple use cases, such as wholesale and retail CBDCs on a private ledger or issuing a stablecoin. Ripple CBDC Platform According to the San...

The CBDC Private Ledger, according to Ripple, will handle tens of thousands of transactions per second. Popular blockchain payments firm Ripple Labs Inc is set to launch its own Central Bank Digital Currency (CBDC) platform, which will allow central banks, governments, and financial institutions to issue digital currencies. The news comes shortly after Ripple and the Central Bank of Montenegro agreed to collaborate on the development of a pilot project for a national digital currency....

The decision of Governor DeSantis to ban CBDCs in Florida has drawn criticism from some legal experts. Ron DeSantis, Governor of Florida recently signed a bill prohibiting the use of central bank-issued digital currencies (CBDCs) in the state. And now, his move may have set a precedent for other states to follow. For DeSantis and many more like him, a CBDC defeats the aim of decentralization being that it is controlled by a centralized entity – the government. They also argue that through...

Famous Canadian psychologist and political commentator Jordan Peterson believes Bitcoin is the only “viable” monetary alternative in a future world dominated by central bank digital currency (CBDC). The intellectual recently spoke with tech expert and entrepreneur Brian Roemmele about artificial intelligence and other emerging technologies, highlighting how Bitcoin can serve to shield the world from its tyrannical excesses.  Using Bitcoin for Communication In an interview...

Samsung and BOK will continue to explore new ways of developing a CBDC ecosystem and leverage the NFC technology to power offline CBDC payments. The latest development in the crypto space is that South Korean tech giant Samsung Electronics has decided to work with the central bank – Bank of Korea – in order to build an ecosystem for the offline payments of the central bank digital currency (CBDC). Both players have signed a memorandum of understanding (MoU) at Samsung’s headquarters in...

Visa is working with its partners to launch programmable CBDCs thereby optimizing capital flows to SMEs. Although blockchain technology has shown its prowess in multiple business verticals, its adoption hasn’t been fast enough. However, payments giant Visa Inc (NYSE: V) is now working towards pushing innovative blockchain use-cases towards real-world use cases. As part of its most recent LIFT Challenge, Visa is exploring blockchain-based use cases for Brazil’s central bank digital...

North Carolina’s House of Representatives unanimously voted in favor of a bill banning the acceptance of Central Bank Digital Currencies (CBDCs) by government entities.  The legislation follows a wave of vocal opposition to CBDCs from the Republican party, alongside some critics from the Democrat side.  North Carolina Rejects CBDCs The vote on May 3 saw 118 House members agreeing to pass House Bill 690, while just two members abstained from the vote, and none voted against...

The American politician serving as the junior United States Senator for Texas – Ted Cruz – thinks bitcoin could be a lifeboat amid the inflationary environment supposedly created by Washington’s irrational decisions.  He revealed holding slightly more than 2 BTC and having a standing order to buy more of the primary cryptocurrency every Monday morning, regardless of its price.  BTC: A Hedge Against Inflation and So Much More In a recent appearance at The Bitcoin Policy...

Christopher Giancarlo– former chairman of the Commodities and Futures Trading Commission (CFTC) thinks that the outright opponents of central bank digital currency (CBDC) are mostly wasting their breath. During a speech at Consensus 2023 on Wednesday, he argued that government-backed digital dollars are largely inevitable, and will certainly exist in a world alongside private market stablecoins.  The Growth of CBDCs The former politician – commonly referred to as “Crypto Dad”...