Category: CBDC

CBDCs Are Not That Stable And May Eventually Kill Bitcoin, Says Financial Expert

Edward Chancellor – a British journalist and financial historian, explained that the first central bank digital currencies are likely to raise inflation which can lead to the destruction of Bitcoin. He agreed that CBDCs are ”cool” but certainly not stable. CBDCs Would Mean The End Of BTC Nowadays, many central banks of numerous leading economies […]

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Bank of England deputy governor says a CBDC is ‘probable’ if public money is to survive

Bank of England deputy governor says a CBDC is ‘probable’ if public money is to survive

Sir Jon Cunliffe, deputy governor of the Bank of England for stability, said Thursday that it “looks probable” that the United Kingdom’s central bank will issue a digital currency if public money is to survive the growing expansion of private alternatives. “We may not be there yet. But it looks probable in the UK that if we […]

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Bank of Israel Drafts Model of a Digital Shekel

Bank of Israel Drafts Model of a Digital Shekel

The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at any moment. The Israeli central […]

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Boston Fed president says CBDC research is focused on benefits and costs beyond technology

Boston Fed president says CBDC research is focused on benefits and costs beyond technology

The U.S. Federal Reserve is weighing the potential risks and rewards of a digital currency beyond the technological implications, according to statements from the president of the Boston Fed made Wednesday. According to a report from Reuters, Boston Fed Bank President Eric Rosengren indicated that issues such as privacy and financial stability will play a […]

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Digital Yuan Trial Hotspot Not Seeing Wide Acceptance, Claims Report

With digital yuan pilots underway in China, it seems the currency is not meeting government expectations. A recent report highlighted a series of interviews from people in the hotspot, reflecting a lackluster reception among the participants. Privacy Concerns Reported According to Bloomberg, residents in Shenzhen, the Chinese analog to Silicon Valley, have shown little interest […]

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China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning

The People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment” or DCEP is getting closer toward launch by the day. Last week, smart card manufacturer Chutian Dragon and IDEX Biometrics announced the companies are working on a digital yuan payments […]

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Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies

Central bank digital currencies (CBDCs) are steadily becoming a serious discussion among governments globally, with Kazakhstan as the latest country unveiling its plans. The National Bank of Kazakhstan is making preparations to launch a CBDC pilot program soon. The National Bank Released a Public Consultation Paper According to the announcement published on their website, the […]

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Electronic Transactions Association Proposes 7 Guiding Principles for a Digital Dollar

The Electronic Transactions Association (ETA) has put forward a set of guiding principles to be considered in the creation of a U.S. central bank digital currency (CBDC), also referred to as digital dollar. The organization, which unites hundreds of companies in the payments industry, confirms its commitment to ensuring access to financial services for all […]

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