Tag Archives: CBDC

In its latest report, the Bank of International Settlements doubled-down on its narrative that the COVID-19 pandemic has exemplified the need for central banks to accelerate the development of central bank digital currencies (CBDCs).BIS outlined the ongoing payment digitalization phase and predicted that whoever launches such currency first will ultimately prevail.BIS: Payment Digitalization Comes FastThe report noted that the financial sector is currently in a significant transitioning stage...

The Bank of Thailand (BOT) has announced plans to develop a payment system prototype for businesses through the use of Central Bank Digital Currency (CBDC), according to a report published by the bank on Thursday.CBDC For BusinessesThe prototype will allow Thailand’s central bank to conduct a feasibility study and also develop ways to integrate the CBDC with the procurement and financial management systems platform developed by Siam Cement.The CBDC prototype will commence in July 2020 and...

Despite the lacking demand as of yet, the Bank of Korea (BOK) has set up a legal advisory group to review any legal issues before possibly launching a central bank digital currency (CBDC) in the future.BOK To Review Legal Matters Around CBDCAccording to a local report from today, South Korea’s central bank has established a group consisting of a six-member panel. Among those are law professors and legal practitioners, including lawyers and BOK’s legal policy office. They will provide...

The Federal Reserve of Philadelphia believes that central bank digital currencies (CBDCs) could significantly impact global finance. In a recent paper, the Fed even suggested that digital currencies could replace commercial banks if they manage to tone down any associated risks.Fed Philadelphia Pro-CBDCIn its comprehensive report on the matter, the Fed examined the potential merits and drawbacks of CBDCs in an ever-digitalizing world.“The introduction of a CBDC can represent an important...

The three largest banks in Japan will set up a study group to examine the benefits of building a common settlement infrastructure for digital payments. Local cryptocurrency exchange DeCurret will organize the group and the meetings, which should take place twice per month.Japan’s Largest Banks Look At Digital CurrenciesAccording to the recent report from the New York Times, the core banks in question behind the study group are Mitsubishi UFJ Financial Group Inc, Mizuho Financial Group Inc,...

The inevitable onslaught of central bank digital currencies (CBDCs) won’t harm Bitcoin’s value proposition – in fact, it will give it a serious shot in the arm.That’s the key takeaway from Grayscale Investments’ May report on how the rollout of CBDC’s will affect the status of Bitcoin.CBDCs are digital currencies centrally issued and controlled by central banks. In this respect, they are the very antithesis of Bitcoin and stand opposed to the ideals of cryptocurrency as a whole.However,...

An education institution in China, training officials from the country’s Communist Party, has published yet another book on cryptocurrencies. The authors include the former Vice President of the People’s Bank of China (PBoC), as well as other formerly high-ranked officials.China Continues Its Efforts in the IndustryAccording to a recent report from the local press, China’s Central Party School of the Communist Party has published another book from its Blockchain series.The authors of the book...

Chinas Wirtschaft ist in den letzten Jahren stark gewachsen und mittlerweile zur Zweitgrößten der Welt geworden. Wirtschaftsexperten nehmen an, dass China eines Tages eine neue weltweite Ordnung herstellen könnte und die globale Finanzherrschaft an sich reißt. Die chinesische Zentralbank wird Berichten zufolge noch in diesem Jahr eine Kryptowährung auf der Grundlage des Yuan herausgeben. Laut einem...

Testing for Chinese central bank digital currency (CBDC) is conducted in the Xiongan New Area, North China’s Hebei Province, a new report said. Trial runs include catering and retail industries such as the massive U.S. chains Subway, Starbucks, and McDonald’s.China Trials Its CBDCNews regarding the Chinese digital currency has been emerging in the past few weeks more frequently than before. The latest local report on the matter claims that testing had started in Xiongan New Area. More...

Hey Krypto Fans, willkommen zur Bitcoin-Informant Show Nr. 866. Heute sprechen wir über folgende Themen: Hacker gibt DeFi-Plattform Lendf.Me Krypto-Beute zurück, Niederländische Zentralbank will Führungsrolle bei digitalem Euro & Ripple verklagt Youtube. Vielen Dank an den heutigen Sponsor XBTPROhttps://trade.xbtpro.com/sessions/signup/UlGty_VsZ 1.) Hacker gibt DeFi-Plattform Lendf.Me Krypto-Beute...