The Bank of Jamaica (BoJ) has completed its first central bank digital currency (CBDC), which will be rolled out across the country in the first quarter of 2022. Following the completion of initial CBDC prototype testing in March 2021, Jamaica’s central bank completed an eight-month pilot last Friday, according to the Jamaica Information Service. The […]
According to reports, the State Bank of Vietnam is planning to become the latest central bank. To investigate central bank digital currencies’ feasibility and operational aspects (CBDCs). Unlike some other countries, its mission is to test a digital currency based on blockchain technology rather than a centralized protocol. Prime Minister Phm Minh Chinh announced the […]
Fabio Panetta, a European Central Bank executive board member. Argued that a digital euro offers better privacy protections than privately issued stablecoins. Panetta chastised private companies’ profit motives. Stating that it is in their commercial interests to collect massive amounts of data on their users. The board member told the Financial Times, “We are not […]
With encouraging remarks from Li Bo, the new deputy governor of the People’s Bank of China, China may be softening its stance on cryptoassets, almost four years after enacting a crackdown on bitcoin (BTC), altcoins, and crypto exchanges (PBoC). Several media outlets, including CNBC and the South China Morning Post, quoted Li Bo as saying […]
The politician in charge of drafting Russia’s crypto regulation legislation. And formulating the country’s financial policy has spoken out about the need to eliminate the US dollar from the economy. Referring to the upcoming digital ruble as a “higher form of money.” Anatoly Aksakov, the Chairman of the Parliamentary Committee on Financial Markets. And also […]
As bitcoin (BTC) prices rise and the rollout of the Chinese central bank digital currency (CBDC) approaches, Chinese media outlets are reporting a sharp increase in bogus crypto, blockchain, and digital yuan-related schemes in the country. According to reports from JRJ and the National Business Daily, unsuspecting investors are putting up as much as USD […]
The upcoming Davos Agenda of the World Economic Forum will feature two separate cryptocurrency sessions. Offering another compelling sign that digital assets have penetrated mainstream awareness. Moreover, on Monday and Thursday, the sessions, titled Resetting Digital Currencies, will be held. Five public speakers included in the first session, including Governor Andrew Bailey of the Bank […]
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 […]
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,” […]
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 […]