Tag Archives: CBDC

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...

Sweden’s plans to create a central bank digital currency might be more complicated than initially thought according to a new study published by the nation’s central bank. It estimated that the Scandinavian country could delay the release of the e-krona until 2026. How Does a Cashless Future Look Like? The Riksbank published the results of the first phase of a pilot project exploring an eventual post-cash era and its consequences. The simulation showed that the rapid speed at...

The Bank of Japan has officially kicked off experiments on a proof of concept for its central bank digital currency. The first testing phase is already live and should be completed by March 2022. BOJ Takes a Swing at CBDC Development Japan’s Central Bank has put its mind into issuing its own digital currency. The trial will consist of two phases, according to a recent Reuters coverage. The initial steps should continue until March 2022. They will concentrate on testing the...

When it comes down to developing a central bank digital currency (CBDC), perhaps no country is more advanced than China. Upon carrying out several tests in recent months, the People’s Bank of China said that the interest in the innovative initiative is surging, but bitcoin could also have a vital role in that. BTC Behind the Surging CBDC Demand? Although some reports claim that four of every five central banks are currently working on launching their own CBDC, China has been...

Bitcoin is at its “inflection point” caused by the current global economic situation, said Dawn Fitzpatrick – the Chief Investment Officer of Soros Fund Management.However, she also warned that the upcoming launch of CBDCs could harm the first-ever cryptocurrency in the short-term.BTC’s Inflection PointFounded in 1969 by Georgi Soros, Soros Fund Management is a privately owned hedge fund sponsor investing in public equity and fixed income markets. The organization’s CIO recently spoke about...

After dismissing bitcoin’s chances of challenging the US dollar as a medium of exchange, the Federal Reserve Chairman, Jerome Powell, said that the cryptocurrency could be a substitute for gold.He also doubled-down on Fed’s previous stance on potentially launching its own central bank digital currency (CBDC) by saying that there’s no need to rush it or be first on the market.Bitcoin Substitutes Gold, Not USDDuring an online conference held by the Bank of International Settlements (BIS),...

The rapid growth of the cryptocurrency industry and the COVID-19-induced crisis have changed the mind of Australia’s Reserve Bank on launching its own CBDC. The bank’s governor Philip Lowe recently confirmed that the organization is conducting research and exploring the benefits of releasing such a product.RBA to Launch a CBDC?During the past several years, multiple banks said they were looking into launching a central bank digital currency to reduce the usage of paper money. One study from...

The possibilities of central banks holding bitcoin in the future are “out of the question,” asserted the President of ECB Christine Lagarde.At the same time, US Secretary Janet Yellen warned about the growing risks of digital assets used in illegal activities but believes that they could have a vital role ultimately.Lagarde Skeptical On BTC Adoption From Central BanksWith bitcoin’s rise to the mainstream stage after several large corporations and institutional investors bought some for their...

Indien will eine eigene Kryptowährung schaffen und Bitcoin verbieten. Der Ausschuss der Regierung in Indien empfiehlt das offizielle Verbot von Kryptowährungen. Die Regierungen und Regulierungsbehörden stehen den privaten digitalen Währungen skeptisch gegenüber und zeigen sich über das zunehmende Aufkommen sowie die Investitionen von vielen Menschen in Indien und den verbundenen die Risiken besorgt....

China will launch another major test for its digital currency, the digital yuan, in January. Local reports affirm that Sichuan’s capital Chengdu will be the next hotspot for the consequent tryout of the nation’s future virtual asset.The Local Government Giving Away $4.6M Worth of CBDCAccording to a recent media report by mobile payment network Mpaypass, the capital of the Chinese province of Sichuan, Chengdu, will be the next area, which will test the efficiency of China’s digital yuan....