Tag Archives: CBDC

Mhel Plabasan – a top executive at Bangko Sentral ng Pilipinas (the central bank of the Philippines), said the institution is highly in favor of stablecoins as they can aid the monetary system and ensure “affordable and faster” cross-border transactions. The organization also plans to launch a pilot version of its CBDC by the end of 2022. On that note, it is worth noting that the central banks of Israel, Norway, and Sweden collaborated with the Bank for International...

Francois Villeroy de Galhau – a member of the European Central Bank and Governor of Banque de France – thinks the diminishing interest in cryptocurrencies due to the market crash does not mean authorities should abandon plans to regulate the industry. Last year, he argued that imposing rules on the digital asset sector is essential for Europe as otherwise, the euro might lose some of its strength. It’s Time for Regulations In a recent appearance, Francois Villeroy de Galhau...

Federal Reserve Chairman Jerome Powell said that a central bank digital currency (CBDC) in the U.S. would “not be anonymous” during an event hosted by the Bank of France on Tuesday.  He described the key properties that would underpin a CBDC if implemented – one of which includes being “identity verified.” Private, But Not Anonymous The chairman’s comments were in response to an audience question about the anonymity of many cryptocurrencies, and whether CBDCs would mimic this...

Im Hintergrund basteln die Zentralbanken aller größeren Länder an einer Central Bank Digital Currency (CBDC). Doch in Australien ist man offenbar besonders weit. Hier ist in Partnerschaft mit einem Forschungszentrum für Finanzen nun ein Whitepaper des ersten CBDC veröffentlicht worden. Crypto News: Australien veröffentlicht Whitepaper für CBDCDer aktuelle Name des australischen CBDC ist „eAUD“. Der eAUD ist an den Australischen Dollar gekoppelt.Das Whitepaper spricht aber auch zunächst von...

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The Reserve Bank (the central banking institution of Australia) collaborated with the Digital Finance Cooperative Research Centre (DFCRC) to unveil a technical White Paper on its future CBDC. The organization is expected to complete the pilot version of the financial product by the middle of 2023. Australia joined the list of countries, racing to issue a digital form of their national currency. According to a recent announcement, the Reserve Bank issued a White Paper called...

Die norwegische Zentralbank Norges Bank hat bekannt gegeben, die Ethereum Blockchain für ihre Zentralbankwährung (CBDC) verwenden zu wollen. Dies repräsentiert einen entscheidenden Schritt in der Entwicklung digitaler Währungen in Ländern. Der Quellcode soll als Sandbox auf Github veröffentlicht werden. So stelle man eine Schnittstelle zum Testnetzwerk her. Bereits im Mai kündigte Norges Bank an, dass die Ethereum-Technologie in Zukunft eine...

The European Central Bank unveiled a discussion paper this week on the pros, cons, and economics of implementing central bank digital currency (CBDC). It suggested that CBDCs could help stave off dominance from BigTech firms in the payments market due to “network externalities” surrounding the use of a medium of exchange.  Ultimately, the paper posits that CBDC may be “the only solution to guarantee a smooth continuation of the current monetary system.” The Threat of Digital...

The President of the European Central Bank (ECB) – Christine Lagarde – reiterated her negative stance on cryptocurrencies, claiming they are “based on nothing” and should be strictly regulated. Nonetheless, she revealed that one of her sons had distributed some of his wealth into the digital asset market. Diving Into Crypto Despite Mom’s Advice Numerous central bankers have criticized the cryptocurrency sector over the past few years. The French politician and the ECB’s...

With the crash of TerraUSD —the largest algorithmic stablecoin in the ecosystem— and the de-pegging of other stablecoins like Stasis, DEI (not to be confused with DAI and even Tether), financial institutions like the European Central Bank, used this weakness in their favor and started promoting their new CBDCs. On May 16, Italian economist and Executive Board member of the European Central Bank (ECB), Fabio Panetta, said in a lecture at the National College of Ireland (NCI)...