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Rwanda Studies CBDCs To Minimize Transaction Cost and Maximize Output

Digital Yuan Effect? The Federal Reserve Bank of Boston Is Evaluating Over 30 Blockchains for Digital Dollar

August 25, 2020 by Dalmas Ngetich at Regulation

Syncing with one of the hottest trends of the year and building on previous researches, the Federal Reserve Bank of Boston is said to be evaluating over 30 blockchains to determine whether they would support a digital dollar reports CoinDesk on Aug 24. The regional bank is one of the 12...

China: CBDC Trial Focused on Retail Transactions

August 24, 2020 by Anthonia Isichei at Regulation

China’s central bank has stated that the trial of its developing central bank digital currency (CBDC) is currently limited to retail transactions, as against claims stating that the digital yuan was used for large transactions. Digital Yuan Test for Small Transactions In a report by Global Times on Monday (August...

China: Digital Yuan to Be Piloted in More Cities, Policy Design Will Be Completed by End of 2020

August 14, 2020 by Dalmas Ngetich at Regulation

The latest official statement from China’s Commerce Ministry seeking to comprehensively deepen pilot tasks, highlight specific measures, and specify the division of responsibilities for the innovative development of service trade reveals that more cities in the second-largest economy will pilot the digital yuan. This is per the update on Aug 14 further...

China: State Commercial Banks Trial Digital Wallet for CBDC

August 6, 2020 by Anthonia Isichei at Regulation

China’s central bank digital currency could be inching closer to its official launch, as some top state-run commercial banks in the country are reportedly trialing a digital wallet for the national digital currency. Digital Wallet App Used for Payments and Transfer According to Reuters on Thursday (August 6, 2020), the...

Huawei's Blockchain Directory Linking Chinese Government Institutions is Live

Huawei Files for New Blockchain-Based Storage Patents

July 28, 2020 by Dalmas Ngetich at Blockchain

Huawei, the Shenzhen-based provider of telecommunication equipment and seller of consumer electronics, has applied for new blockchain patents for storage purposes. Steaming ahead, Huawei’s filing highlights its desire to stay ahead of competitors and be an innovation leader. A Blockchain Technology Storage Patent As per Global Times on July 28, 2020, Tianyancha—a Chinese...

Chinese Central Bank Partners with E-commerce Giant for CBDC Test

July 15, 2020 by Osato Avan-Nomayo at Regulation

Chinese food delivery and e-commerce giant Meituan Dianping is the latest establishment to trial China’s digital currency electronic payment (DCEP) project; the country’s planned central bank digital currency (CBDC). More Testing for China’s DCEP According to Bloomberg, China’s central bank plans to trial its virtual currency with Beijing-based food delivery...

China National Blockchain Network Goes Live April 2020

People’s Bank of China Pledges to “Accelerate” Blockchain Development, Boost Local Industry

May 14, 2020 by Aisshwarya Tiwari at Blockchain

The Financial Technology Committee of the People’s Bank of China, the country’s national bank, held a meeting this week exploring blockchain technology and making decisions for its regulation within the country. China’s Blockchain Push Reported by local publication Sina News on May 13, the committee was headed by the bank’s...

China Set to Issue CBDC to Government Workers in Suzhou

April 16, 2020 by Anthonia Isichei at Regulation

China’s two-tier central bank digital currency, the digital currency/electronic payment (DC/EP) will be issued to workers in the city of Suzhou in May 2020. The employees will receive part of their upcoming transportation subsidies in DCEP. Employees to Receive China’s CBDC in May According to a report by a local...

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