#central bank digital currency News

China CBDC Libra Painting Red China Flag

China Confirms its CBDC is Similar to Facebooks Libra

September 7, 2019 by Ashwath Balakrishnan at Altcoins

China's upcoming digital currency is reportedly going to be very similar to Libra in terms of network design, but it will take a more holistic approach to find harmony between money-laundering prevention and anonymous payments. EJ Insight reports that the country initially set up a research team to launch a...

Detailed Analysis of China’s Central Bank Digital Currency

August 29, 2019 by Ashwath Balakrishnan at Adoption, Blockchain

Earlier this month, China publicly confirmed that they have been working on a central bank digital currency (CBDC) and will look to roll out it sometime this year. Binance Research published a detailed review of the structure and issuance mechanism for the network and the underlying currency, August 28, 2019....

Crypto Club Shop Blue China Red Remninbi

Tech and Banking Giants First to Receive China’s Sovereign Cryptocurrency

August 28, 2019 by Ashwath Balakrishnan at Altcoins

Alibaba, Tencent, Union Pay, and other large financial institutions are reported to be the the first receivers of China's sovereign cryptocurrency initiative, as per Forbes, August 27, 2019. Paul Schulte, the ex-head of global financial strategy at the China Construction Bank is the main spruce behind the information. A second...

Central Banker contemplating a central bank digital currency over the dollar

Global Central Bank Digital Currency as a Catalyst for the Demise of the U.S. Dollar

August 26, 2019 by Ashwath Balakrishnan at Finance

Earlier this week, Mark Carney, the governor of the Bank of England, brought up the idea of a central bank operated digital currency akin to Libra to bring an end to the dominance of the U.S. dollar as the global standard for trade and international hedges. Bloomberg extensively covered the...

Central Bank Digital Currencies May Come Sooner than Expected

July 1, 2019 by Edoardo Vecchio at Finance, Regulation

After the official announcement of Libra, Agustín Carstens, the general manager of the Bank for International Settlements (BIS), revealed that central banks may adopt digital currencies sooner than we expect. The fear is that big tech groups such as Facebook could establish a dominant position in global finance and pose...

Hong Kong and Thai Authorities Sign Fintech MoU

May 16, 2019 by Ogwu Osaemezu Emmanuel at Business, Finance, News, Regulation

The Hong Kong Monetary Authority (HKMA) has signed a memorandum of understanding with the Bank of Thailand (BOT), in a bid to promote financial technology (fintech) collaborations between the two regulators, according to a Crowdfund Insider report on May 14, 2019. The Basel Connection Per sources close to the matter,...

Project Inthanon: Wipro and R3 Launch Interbank Settlement Blockchain with Digital Currency

May 8, 2019 by Ashwath Balakrishnan at Adoption, Blockchain, Finance, News, Tech

In a press release to the Bombay Stock Exchange on May 7, 2019, Indian IT powerhouse Wipro along with the R3 consortium announced the launch of an interbank settlement blockchain that will utilize digital currencies. While many Indian companies are researching and implementing distributed ledger, Wipro is the first Indian...

Coin Looking at Marshall Islands through Binoculars

The Marshall Islands Digital Currency to Go Live Later in 2019

March 11, 2019 by Ogwu Osaemezu Emmanuel at Adoption, Altcoins, Blockchain, Commentary, Finance, News, Regulation

Despite being criticized by several observers in the international community, including the International Monetary Fund (IMF ) and others, the government of the Marshall Islands remains focused on launching a cryptocurrency later in 2019. The country is reportedly working with Israeli fintech firm, Neema to ensure the Sovereign (SOV) stablecoin...

Rwanda Studies CBDCs To Minimize Transaction Cost and Maximize Output

Fintech Firm Launches Blockchain CBDC Pilot with Eastern Caribbean Central Bank

March 8, 2019 by Ogwu Osaemezu Emmanuel at Blockchain, Finance, News, Tech

Bitt, a portfolio company of Medici Ventures, the leading blockchain accelerator and subsidiary of Overstock, has joined forces with the Eastern Caribbean Central Bank (ECCB) to conduct a distributed ledger technology (DLT) based Central Bank Digital Currency (CBDC) pilot across member countries in the Eastern Caribbean Currency Union (ECCU), according...

Man Holding Banking Report Outside of the Bank of Japan

Japan: Central Bank Releases Comprehensive Central Bank Digital Currency Report

February 21, 2019 by Eddie Mitchell at Adoption, Altcoins, Blockchain, Commentary, Finance

The Bank of Japan (BoJ) has issued a working paper that details the numerable pros and cons of central bank digital currencies (CBDCs). Published on February 19, 2019, the paper explores hypothetical problem areas, how and when CBDC’s can be used, as well as speculating on the economic implications. General...

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