Tag: Winter Olympics
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U.S. Federal Reserve publishes a detailed CBDC report.
The U.S. Federal Reserve has published its biggest statements yet on a Central Bank Digital Currency (CBDC) for the U.S. Dollar, in the form of a report published on Jan. 20. Titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” the paper discusses the potential benefits and risks of CBDCs in the U.S. […]
Read full post U.S. Federal Reserve publishes a detailed CBDC report. on Chaintimes.com.
Malaysia’s Central Bank Exploring the Potential Launch of a CBDC
The Central Bank of Malaysia, also known as the Bank Negara Malaysia (BNM) is exploring the possibility of launching its own central bank digital currency (CBDC). At the moment, the project is still in a “research mode” as the Asian nation is only looking towards “assessing the value proposition” of digital currencies. In an email written to Bloomberg, BNM stated: “BNM is actively assessing the value proposition of CBDC to Malaysia.” adding, “While a decision has not been made to issue CBDC, we have focused our research on CBDC via proof-of-concept and experimentation to enhance our technical and policy capabilities, should the need to issue CBDC arise in the future.” Earlier last year, Malaysia allied with the Bank for International Settlements, South Africa, Australia, and Singapore to develop a proof-of-concept CBDC pilot. Dubbed Project Dunbar, the pilot utilized the Corda and Quorum blockchain platforms from r3 and ConsenSys, to demonstrate the capabilities of blockchain-based cross-border remittances. The goal behind this includes developing a multi-CBDC platform to bring together central banks and commercial banks from over the world for cross-border payments solutions. Several countries have been testing the use of central bank-issued digital currencies. For instance, Thailand’s central bank has planned to test its retail CBDC for the public this year. Similarly, Cambodia has already rolled out its tokenized version of Cambodian riel, a blockchain-based CBDC called Project Bakong, and is recognized as one of the world’s first CBDCs. The Indonesian and Philippine central banks have both been racing towards developing their own digital currency. Indonesia, for instance, said that it’s developing a CBDC to counter the increased cryptocurrency usage in the country. Meanwhile, China has been testing and developing its e-CNY digital currency and wants to officially introduce it during the 2022 Winter Olympics.
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20% of the Chinese population has set up wallets for the country’s CBDC.
Chinese local media outlets report that approximately a fifth of the country’s population, some 261 million people, have set up wallets for the country’s central bank digital currency (CBDC), the digital renminbi (RMB). The information was revealed at a press conference held by the State Council Information Office on Jan 18. The reports also mentioned […]
Read full post 20% of the Chinese population has set up wallets for the country’s CBDC. on Chaintimes.com.
Here’s how China might be leading the CBDC race as Winter Olympics draws near
Visa Teams Up With Consensys To Build Payment Infrastructure For CBDCs
‘Digital authoritarianism’: Congressman wants Fed banned from CBDCs
Congressman Emmer says CBDCs could be a Fed "surveillance tool that Americans should never be forced to tolerate from their own government."
The post ‘Digital authoritarianism’: Congressman wants Fed banned from CBDCs appeared first on Protos.
CBDC Central Bank Digital Currencies – Complete Guide 2022
CBDC Central Bank Digital Currencies – Complete Guide 2022 Read More »
Visa teams up with ConsenSys to test CBDCs
British Lawmakers Sense Risks Over Use of Digital Pound
As talks about the release of a digital pound by 2025 are yet to happen, British lawmakers are already doubtful that their use could harm financial stability, raise the cost of credit and erode privacy. (Read More)
Digital Yuan Wallet Ranks among Most Downloaded Apps in China
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