Tag Archives: CBDC

Following a successful Project Rosalind CBDC test, the BoE is making progress with developing and launching a digital pound. The Bank of England (BoE) is moving closer to launching its Central Bank Digital Currency (CBDC) after its long test project on the potential benefits of the technology. The BoE launched Project Rosalind last year to help decide whether to float a CBDC. The BoE undertook the CBDC project in collaboration with the Bank of International Settlements (BIS) to...

The potential issuance of fiat currency in digital form has garnered global attention, with various jurisdictions exploring the concept. The EU, the US, and the UK are among those actively considering the implementation of a CBDC.  A leaked draft of the proposed Digital Euro Bill, set to be proposed by the European Commission on June 28, reveals several significant provisions that aim to shape the future of the Central Bank Digital Currency (CBDC). The draft bill, seen by CoinDesk,...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Republican Senator from Texas Ted Cruz says he doesn’t want a digital dollar or any central bank digital currencies (CBDCs) entering the fray. He believes they’ll bring about an end to bitcoin, a cryptocurrency he has a lot of respect and admiration for. Ted Cruz Is Confident a CBDC Would Hurt BTC In a recent...

The ECB has finalized its digital euro prototype scheme as it mulls whether to roll out the government-backed token.  The European Central Bank (ECB) has finalized a digital euro prototype ahead of a development decision. Later this year, the leading central bank would decide whether to develop the fiat euro as a digital variant. According to a Friday report, the ECB examined distributed ledger technology and smart contracts as prime components of a potential digital euro. However, the...

The Brazil Central Bank Digital Currency will initially focus on wholesale interbank transaction payment solutions. Banco Central do Brasil (the Central Bank of Brazil) plans to include more participants in its digital currency scheme. The list, released by the bank on May 24, includes the names of all the participants with whom the CBDC digital real is set to launch. The final list of 14 participants was compiled from 36 bids submitted by individuals and collaborating entities, totaling...

Ramping up its CBDC game, Ripple announced the launch of a new platform for central banks, governments, and financial institutions to issue their own central bank digital currency. Dubbed ‘Ripple CBDC Platform,’ the offering will leverage the same blockchain technology used on the XRP Ledger (XRPL). The platform is developed to address multiple use cases, such as wholesale and retail CBDCs on a private ledger or issuing a stablecoin. Ripple CBDC Platform According to the San...

The CBDC Private Ledger, according to Ripple, will handle tens of thousands of transactions per second. Popular blockchain payments firm Ripple Labs Inc is set to launch its own Central Bank Digital Currency (CBDC) platform, which will allow central banks, governments, and financial institutions to issue digital currencies. The news comes shortly after Ripple and the Central Bank of Montenegro agreed to collaborate on the development of a pilot project for a national digital currency....

The decision of Governor DeSantis to ban CBDCs in Florida has drawn criticism from some legal experts. Ron DeSantis, Governor of Florida recently signed a bill prohibiting the use of central bank-issued digital currencies (CBDCs) in the state. And now, his move may have set a precedent for other states to follow. For DeSantis and many more like him, a CBDC defeats the aim of decentralization being that it is controlled by a centralized entity – the government. They also argue that through...

Famous Canadian psychologist and political commentator Jordan Peterson believes Bitcoin is the only “viable” monetary alternative in a future world dominated by central bank digital currency (CBDC). The intellectual recently spoke with tech expert and entrepreneur Brian Roemmele about artificial intelligence and other emerging technologies, highlighting how Bitcoin can serve to shield the world from its tyrannical excesses.  Using Bitcoin for Communication In an interview...

Samsung and BOK will continue to explore new ways of developing a CBDC ecosystem and leverage the NFC technology to power offline CBDC payments. The latest development in the crypto space is that South Korean tech giant Samsung Electronics has decided to work with the central bank – Bank of Korea – in order to build an ecosystem for the offline payments of the central bank digital currency (CBDC). Both players have signed a memorandum of understanding (MoU) at Samsung’s headquarters in...