Tag Archives: CBDC

Residents of the Chinese capital will receive 40 million renminbi ($6.2 million) of the digital currency. They can use two banking apps to apply to win one of the 200,000 so-called ”red packets”, each containing 200 yuan, as part of a lottery. Simultaneously, the governor of Russia’s central bank called digital currencies the future of money. Another CBDC Trial in China In yet another attempt to test its CBDC, the Chinese officials decided to distribute 40 million renminbi...

South Korea announced plans to establish a pilot program examining the possibility of developing and launching a digital version of the won. The country’s central bank will focus on how the CBDC will work with mobile payment transactions, internet banking, saving accounts, transferring funds, and more. South Korea CBDC Pushes Forward According to a recent Reuters report, the Bank of Korea (BOK) will develop a pilot platform to boost its central bank digital currency (CBDC)...

Edward Chancellor – a British journalist and financial historian, explained that the first central bank digital currencies are likely to raise inflation which can lead to the destruction of Bitcoin. He agreed that CBDCs are ”cool” but certainly not stable. CBDCs Would Mean The End Of BTC Nowadays, many central banks of numerous leading economies such as China, Japan, and the US, are researching the option of launching their own CBDC. In a recent interview for Reuters, Edward...

People’s Bank of China and Alibaba Group’s affiliate Ant Group have joined forces to create a platform supporting the central bank digital currency. According to Global Times, PBoC has been working together with Ant and Tencent for the last three years on developing the e-CNY. A Move Towards e-CNY VOA News announced on May 3rd that the Chinese central bank and Alibaba’s associate Ant Group have signed a deal on developing a digital yuan with mutual efforts. The move will be...

The head of Binance, Changpeng Zhao, recently gave his comments on the two largest cryptocurrencies – BTC and ETH. According to him, people nowadays need alternative coins for the new type of transactions, which may drive the price of ether up. CZ also predicted that many central bank digital currencies would be very different than public coins. Ethereum’s Rally As Ethereum’s price continues to be the hottest topic in the past couple of days within the entire cryptocurrency...

The Chairman of the Federal Reserve outlined that the US will not haste its own digital currency project despite China’s rapid advancements. He revealed that the CBDC approach undertaken by the Asian country will not be effective in the USA. China’s CBDC Won’t Work in the US With the rapidly expanding topic of central bank digital currencies (CBDCs) in countless countries, the world’s largest economy is yet to provide a definitive stance. Although the US dollar remains the...

Six of the biggest banks in China’s megapolis Shanghai are supporting the digital yuan ahead of a May 5th shopping festival. The move represents a direct threat to the country’s top two payment providers – Alipay and WeChat Pay. The Digital Yuan vs. Alipay and WeChat Pay According to a Reuters report, some of the leading banks in China are pushing the digital yuan ahead of a shopping festival in the country. Purportedly, they are attempting to persuade merchants and retail...

Britcoin: Grossbritannien will eigene Digitalwährung. Wie China, die europäische Zentralbank und Facebook will nun auch Grossbritannien eine eigene Digitalwährung entwickeln. Dazu kündigte der britische Finanzminister Rishi Sunak eine Arbeitsgruppe an. Auf Twitter nannte er die Devise Britcoin, in Anspielung auf die bekannte Kryptowährung Bitcoin: Today Chancellor...

The first PwC Global CBDC Index is designed to measure a central bank’s level of maturity in deploying their own digital currency. The first PwC Global CBDC Index is designed to measure a central bank’s level of maturity in deploying their own digital currency. It provides a synthetic index, capturing the central banks’ progress, stance on CBDC development and public interest in two distinct use cases – retail and interbank/wholesale. Like...

Despite the massive interest from central banks for CBDCs, nearly 70% of the projects are running only pilot programs and are far away from an actual launch. The Bahamas and Cambodia are the leading countries in a ranking listed by PwC while the biggest economy in Asia – China lines up third. CBDCs Are Not Here Yet Central bank digital currencies (CBDCs) have been a hot topic in the past few years. A paper released by the Bank of International Settlements last year informed...