The financial institution will partner with the Commonwealth Bank, National Australia Bank. The financial services company Perpetual, and software company ConsenSys on a project to explore the potential use of a wholesale central bank digital currency in the country using “Ethereum-based distributed ledger technology”. According to a Nov. 2 announcement from The Reserve Bank of […]
A March 18th post by BitMEX Research discusses the two approaches governments can take with regards to the issuance of a Central Bank Digital Currency (CBDC) and the ramifications for the economy. Money Supply In the modern economy, the money supply is largely determined by the banks’ ability and/or willingness to make loans. From a […]
The Bank of England (BoE) is seriously weighing the pros and cons of issuing a central bank digital currency (CBDC) denominated in pounds sterling. Britain’s central bank recognized that a digital pound could be destabilizing for the current banking system. However, digital currency could use the latest FinTech and make transactions easier and faster for […]
While the results of the US presidential election continue to be questioned by some in the community, mainstream media outlets and the Associated Press have definitely called the race for former Vice President and current President-elect Joe Biden a race. But traders and analysts are now looking to determine what a Biden administration will mean […]
The Central People’s Bank of China (PBoC) has confirmed that it is prepared to take center stage in a “new battlefield” of digital fiat-based competition. Between sovereign countries and claims that its own new token could help break “dollar dominance.” In its digital yuan project, which is already in advanced testing phases. The PBoC has […]
China’s Ministry of Commerce today announced it would extend the trials of the nation’s digital currency central bank (CBDC) to include Beijing, as well as provinces Tianjin and Hebei. According to a Wall Street Journal article dated Aug 14, there is not yet a fixed time when the Chinese CBDC’s expanded pilot program will begin. Still, […]
The chairman of the anti-corruption agency in Kazakhstan has called on the government to create a national digital currency in the country to combat corruption. Alik Shpekbayev, chairman of the Republic of Kazakhstan’s Anti-Corruption Agency, has reportedly said that national digital currencies such as China’s digital yuan will lead to a more open financial system. […]
The Central Bank of Japan (BoJ) has created a “Digital Currency Unit” as the nation heads toward a tentative launch of a digital central bank (CBDC) currency. And a man named Satoshi is heading it up. Per Reuters Japan, the BoJ has officially formed a specialized team dedicated to issues related to Digital Currency. While […]
As the People’s Bank of China (PBoC) – the country’s central bank – is said to have engaged in negotiations. With a giant online food distribution network to check the digital yuan. The roll-out of China’s much-discussed central bank digital currency (CBDC) is getting one step closer. Citing “people with direct knowledge of the matter,” […]
China’s central bank’s digital currency is generally known as a way to challenge the supremacy of the US dollar, not Bitcoin (BTC). Yet acceptance in niches where crypto versions of the dollar flourish can be difficult to find, especially Tether (USDT). Charles Yang of Genesis Block explained at the Unitize panel on Monday why DCEP, […]