SAN FRANCISCO–(BUSINESS WIRE)–Executives of Metallicus, Inc., a financial services and technology company, have announced the formation of FBBT Holdings, Inc., to expand banking and...

The Federal Reserve Bank of Boston and MIT announced on Dec. 22 that their CBDC research effort, Project Hamilton, is now...

Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The...

The biggest news in the crypto-verse for Dec. 2 includes Bitcoin’s negative 1.4% reaction to the U.S. payroll data, FTX Japan’s...

President Biden called last week for an urgent, government-wide focus from the U.S. into the research of a potential Central Bank Digital Currency (CBDC) in an executive order. It’s a move that’s been a long time coming—American efforts in the space have lagged far behind some other countries, including China, which has already launched a pilot for its own digital yuan. Discussion on what shape that research may take – and whether it’s beneficial for the U.S. to seriously take a look at investing in a digital dollar – was the subject of last week’s meeting of the Chicago Payments

The post Could a Central Bank Digital Currency be in the Cards for the U.S.? first appeared on FinTech Rising.

The Federal Reserve has banned its senior officials from investing in cryptocurrency. “Officials covered by the new rules will have 12 months from the effective date of the rules to dispose of all impermissible holdings,” said the Federal Open Market Committee. Senior Federal Reserve Officials Prohibited From Investing in Cryptocurrency The Federal Open Market Committee […]

China is testing out a central bank digital currency (CBDC) during the 2022 winter Olympics while the rest of the world still remains in a research and development phase. The digital yuan (eCNY) is currently being offered to athletes and foreign visitors to Olympic Village in Beijing, as well as cash or Visa cards. The […]

The post China Debuts Digital Yuan At Olympics appeared first on Coin Bureau.

The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) have jointly published their long-awaited technical research and open-source code for a potential central bank digital currency (CBDC). The 35-page white paper is part of a joint initiative announced in August 2020. Dubbed Project Hamilton, the phase of the project ‘focuses on technological experimentation and does not aim to create a usable CBDC for the United States.’ The researchers also released the open-source code for Project Hamilton which is available in github for contributions. Overall, they found that the system was capable of handling 1.7 million transactions per second, while the vast majority of transactions were able to settle in under two seconds. As a whole, the researchers said they met their goal of creating a core processing engine for a potential general-purpose CBDC. Commenting on the development, Boston Fed Executive Vice President and Interim Chief Operating Officer Jim Cunha said: “It is critical to understand how emerging technologies could support a CBDC and what challenges remain. This collaboration between MIT and our technologists has created a scalable CBDC research model that allows us to learn more about these technologies and the choices that should be considered when designing a CBDC.” Boston Fed, MIT Research Separate from the US Fed Over the next few years, MIT and the Boston Fed said the second phase of the Hamilton project will explore alternative designs to the technical implementation of CBDCs and build upon the first phase’s focus on privacy, resiliency and functionality. The partnership between the Boston Fed and MIT is separate from the digital dollar research which was recently published by the Federal Reserve last month.

The post Boston Fed and MIT Publish CBDC Technical Research appeared first on Cryptoknowmics-Crypto News and Media Platform.

The Boston Fed and MIT said the first phase of the project proved a CBDC could feasibly support cryptographic payments

The post MIT and Boston Fed Conclude First Phase of CBDC Research Project appeared first on Blockworks.