Tag: cbdc

Japan-based LINE, a popular messaging app, has disclosed its intention to introduce a blockchain platform centered on central bank digital currency development. According to Chosun, a South Korean newspaper, Line Corporation will help central banks who want to produce digital currencies through the use of its own CBDC...

Plus: the crypto companies turning away business What may prove to be the crypto news of the year broke this week, with the long-rumored announcement by PayPal that support for buying, selling, hodling, and purchasing will soon make its way to the company's customers. Filecoin continues forward with its long-awaited mainnet as several of its top miners object to the...

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 The post DeFi Becomes The Most Bullish Crypto...

Ten years ago, humanity wrestled with a generational crisis named COVID-19. In the wake of the pandemic and its cataclysmic fallout, seismic changes occurred, and a wellspring of ideas burst forth. The weaknesses of our society laid bare, people were freed to think differently about the social contract. Conversations around the function of money...

Reading Time: 2 minutes The Central Bank of the Bahamas has announced that the world’s first active CBDC, the Sand Dollar, has gone live The CBDC, which is pegged to the Bahamian dollar, has been tested on Exuma and Abaco in recent months The Bahamas has beaten the...

The 'Sand Dollar', pegged to the Bahamian dollar, is now available to all 393,000 Bahamian residents.

Banco de España, commonly known as the central bank of Spain, is planning to examine the effects of digital currency. The Bank of Spain disclosed this endeavor as it revealed its 2020-2024 strategic plan, which mostly summarizes its vision and goals for the next four years. Extensive...

Reading Time: 2 minutes China’s digital yuan test in Shenzhen has resulted in a lukewarm reception Users said that the app was less convenient than the established payment methods and that it had little to offer The government could tie bundles and usage incentives to...

Reading Time: 2 minutes Raoul Pal has said that CBDCs represent the biggest potential change to the global financial system since the Bretton Woods agreement The 1944 agreement formalized a reliance on a gold-backed U.S. dollar and lasted until 1971 Pal says that CBDCs...

"We have not made a decision to issue a CBDC," said Fed Chairman Jerome Powell in his speech during today's International Monetary Fund (IMF) event devoted to the cross-border payments. The Slow and Careful Rollout of America's CBDC The Fed's chair was questioned about whether...

Reading Time: 2 minutes CBDCs are gaining traction globally and could soon be a payment option in many countries CBDC adoption would allow governments easy access to the spending habits of its citizens, while cash would remain private and ‘off the chain’ Cash users...

Reading Time: 2 minutes A report on a digital ruble has been released by The Bank of Russia The report states that a CBDC would work alongside the existing cash system The Bank of Russia puts no timeline on the development of a digital ruble The rise of...

Reading Time: 2 minutes The FSB has published 10 recommendations that it says authorities should consider when it comes to controlling stablecoins These guidelines are meant to ensure that private stablecoins are covered by financial law in all jurisdictions Facebook’s...

Reading Time: 2 minutes China has increased its digital yuan testing to include a public test in Shenzhen 50,000 residents will receive about $30 worth of the CBDC to spend with participating retailers The Shenzhen trials come a week after it was announced that Beijing...

Reading Time: 2 minutes The Bank of Japan has announced that it plans to trial a CBDC next year A digital yen is not inevitable, but the banks wants to “prepare thoroughly” for a digital future Japan has been reluctant to step into the CBDC world, but China’s progress...

Quick take: The team at Bloomberg has predicted that Ethereum could lose the number 2 spot to Tether (USDT) by next year Increasing demand and adoption of stablecoins is the major force behind Tether's rise Stablecoins are a precursor of CBDCs and will most likely be more enduring than altcoins Ethereum has had a relatively stagnant market cap since 2017 when compared to...

The regulator, however, has no plans to roll out the CBDC.

Former Ripple CEO and co-founder Chris Larsen recently spoke out his mind on crypto regulations in the U.S. and the lack of clarity. Speaking to the Fortune reporter Jeff John Roberts, Larsen said that...

Reading Time: 2 minutes China’s digital yuan is set for a real world test, with 10,000 toy vending machines being deployed in Beijing that will accept the CBDC The vending machines are the first example of public use of the digital yuan The development illustrates...

The ECB has published an extensive report explaining its move towards a digital euro. The text also outlines how "anonymity may have to be ruled out" for citizens. Digital Euro Omits User Anonymity...