Category: CBDC

Analysis: Are CBDCs a Threat For Bitcoin or The Opposite?

Ever since Facebook announced its plans to create a digital payment currency dubbed Libra, central bankers have tried to counter it with an invention of their own. While Libra is facing regulatory troubles, a BIS report indicated that over 80% of the world’s central banks are currently developing a central bank digital currency (CBDC). The […]

Continue Reading

DeFi Becomes The Most Bullish Crypto Industry Development; Eclipses BTC Halving, CBDC Development – Survey

2020 has been quite eventful. The cryptocurrency battlefield is getting increasingly crowded and has been witnessing an increasing amount of attention like never before. Despite the economic shockwaves due to the ongoing COVID-19 pandemic, the cryptocurrency industry has emerged as an outperformer. While Bitcoin’s impressive rise throughout the year has been one of the most […]

Continue Reading

The Central Bank of the Bahamas officially launches its ‘sand dollar’ digital currency

The Central Bank of the Bahamas officially launches its ‘sand dollar’ digital currency

The Central Bank of the Bahamas (CBOB) has launched its new digital fiat currency sand dollar, the bank announced Tuesday. The sand dollar is meant to be a digital version of the Bahamian dollar as part of the bank’s ongoing efforts to implement digital payments system infrastructure into its current operations.  According to the bank’s […]

Continue Reading

Recently authorized patents shed light on the surveillance capabilities of China’s digital currency

Recently authorized patents shed light on the surveillance capabilities of China’s digital currency

Quick Take The People’s Bank of China recently received authorizations for 15 out of 65 submitted patent applications for DC/EP. The authorized patents shed light on tracking capabilities and touch on “controllable anonymity” features of the system. The authorizations come as China ramps up real-world testing of the digital currency. This feature story is available […]

Continue Reading

R3’s public Corda Network gets its first token ‘XDC’ for DeFi and CBDC projects

R3’s public Corda Network gets its first token ‘XDC’ for DeFi and CBDC projects

Cordite Society, a co-operative society registered in the U.K., has launched “XDC” — the first token built on R3’s public Corda Network. XDC is designed to meet requirements of decentralized finance (DeFi) projects, as well as stablecoins and central bank digital currencies (CBDCs), Cordite Society said in a release shared with The Block on Tuesday. […]

Continue Reading

Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency

Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency

As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans […]

Continue Reading

Monetary Stability: The IMF and Fed Chair Jerome Powell Discuss Digital Currency Implications

Monetary Stability: The IMF and Fed Chair Jerome Powell Discuss Digital Currency Implications

On Monday, the International Monetary Fund (IMF) published a report on crypto assets like central bank digital currencies (CBDCs) and global stablecoins (GSCs). Moreover, the IMF also hosted a virtual panel that discussed digital currencies and cross-border payments with the Federal Reserve Chair Jerome Powell. The Fed Chair says as far as a U.S.-issued CBDC […]

Continue Reading

US Fed Chair Jerome Powell Says It’s Better to Be Right Than First on CBDC

US Fed Chair Powell believes that the United States should focus on getting right the development of a central bank digital currency (CBDC), rather than attempt to be first.   While speaking on a panel hosted by the International Monetary Fund (IMF), Powell reassured that the US is “committed to carefully and thoughtfully evaluating the […]

Continue Reading