Tag Archives: CBDC

The Commonwealth of the Bahamas is the newest country to adopt its own digital currency. Starting today, residents of the Exuma district will have access to a pilot run of the country’s central bank digital currency (CBDC).According to an official press release published on Tuesday, December 24, the pilot run is called the “Project Sand Dollar” as the CBDC is called the “Sand Dollar”. The announcement also states that the Bahamas digital currency furthers the Bahamian Payments System...

The Bank of Korea (BOK) is taking another important step towards adopting the trend for central bank digital currencies (CBDCs). The bank will reportedly organize a dedicated task force to build on top of the existing CBDC research and to improve it further.Bank Of Korea’s CBDC Task ForceA local report from today shows BOK’s intentions for developing more CBDC-orientated research groups. As included in the bank’s “Monetary Policy for 2020,” the research will target innovations, such as...

State-backed stablecoins appear to be on the rise in the last several months, and Russia is taking the next step into launching its own. The country’s central bank has reportedly started testing digital currencies backed by real assets in a regulatory sandbox.Russia Tests Digital AssetsThe head of the Central Bank of Russia, Elvira Nabiullina, recently spoke about the bank’s plans and actions towards digital assets. She indicates that they have started testing a digital currency in a...

This year of 2019 turned out to action-packed with respect to the cryptocurrency market and the global economy in general. Undergoing a massive crypto winter in 2018, the crypto market saw some recovery especially in Q2 2019. If we look at the year-to-date performance, the overall cryptocurrency market cap surged by 60%. Thanks to Bitcoin‘s performance giving 100% returns during the same period.Also, if we look at the traditional markets, they have performed beyond investors’ expectations....

Tencent, the Chinese technology giant that operates the social media app WeChat, has announced that it is planning to develop a digital currency research group. This research group will have the responsibility of further advancing various blockchain technology research projects. According to fresh reports by iFeng, the company had released an official statement to its employees telling them that it is seeking someone to head the proposed research group.The yet-to-be-established digital...

Shenzhen Foto CC 3.0 by jo.sau, JHH755, Kyman Cheng, Wikipedia Während in Europa die Regulierenden Angst vor Geldwäscherei haben, geht es in China fleissig voran: Die chinesische Zentralbank kündigt bereits seit einiger Zeit eine digitale Staatswährung an. Nun soll diese noch 2019 in den beiden Städten Shenzhen und Suzhou getestet werden. Ein Bericht des chinesischen Finanzportals Caijing bestätigte dieses Vorhaben. Damit die...

The General Manager of the Bank of International Settlements (BIS), Agustin Carstens, has urged for central banks to embrace digital money. He added that the financial world is going through a revolution at the moment, and banks, being trustworthy establishments, should be in control.The Digital Money RevolutionThe head of BIS, Agustin Carstens, appears to be taking a new stand regarding digital money: He said in a recent speech that central banks need to take control over digital assets so...

Zentralbank der USA bestätigt Forschung und Tests an eigener Digitalwährung Die amerikanische Zentralbank arbeitet an einer eigenen Digitalwährung. Zunächst soll es sich laut Zentralbank-Chef Jerome Powell lediglich um erste Forschungen handeln. Bis zur Einführung seien die Risiken sorgfältig abzuschätzen und rechtliche Fragen zu klären. Die ersten Tests wurden bereits vor einigen Wochen und Monaten durchgeführt. Ziel ist zunächst die...

Bitcoin Preis der letzten 30 Tage CBDC ist die Abkürzung für Central Bank Digital Currency, also eine Zentralbankkryptowährung. Derzeit gibt es noch keine klare Definition, was genau eine solche Währung ist. Jedoch gibt es einige Eigenschaften, die immer wieder aufgeführt werden: In irgendeiner Form wird eine Art Blockchain verwendet. Die Währung wird von einer Zentralbank verwaltet. Geschäftsbanken und Zwischenhändler werden umgangen....

Facebook’s cryptocurrency project, Libra, could be used to build on top of central bank digital currencies. That’s what the venture’s co-creator and head economist reiterated today at a FinTech conference in Singapore. Interestingly enough, the statement also comes at times when a few countries are contemplating the launch of their own state-backed digital currencies.Libra Improving State-Backed Digital CurrenciesChristian Catalini, Libra’s co-creator and head economist of Calibra, spoke in...