Tag: central bank digital currencies

Oct 24 2021

Nigeria Prepares To Launch Digital Currency eNaira On Monday

The President of Nigeria, Muhammadu Buhari, will formally unveil the much anticipated Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25th, October 2021, at the State House in Abuja. Related Reading | New Convert: Anti-Crypto Central Bank Of Nigeria Set To Launch Digital...

Oct 06 2021

110 Countries Are Exploring CBDC At Some Stage, Says IMF Managing Director

Managing Director of the International Monetary Fund(IMF), Kristalina Georgieva, recently talked about digital currencies, including CBDC, in one of her recent speeches. The IMF MD gave this speech at the T20 Summit hosted by Bocconi University and Italian Institute for International Political Studies (ISPI) on Oct. 5. The submit included sessions with...

Sep 05 2021

Australia, Malaysia, Singapore, South Africa Set To Test Cross-Border CBDC

CBDC, also central bank digital currency, is a digital token issued by a country. Many governments and central banks around the world are exploring the use of CBDCs. Even though they mostly remain in the hypothetical stage. However, more than 80% of central banks are looking at digital currencies. The Reserve Bank of Australia...

Sep 02 2021

Aug 02 2021

Jun 30 2021

Will Central Banks Create Their own Cryptocurrency

Central banks around the globe continue to consider the implications of implementing a digital currency. Among the most well-known is China which has put forth efforts for a homegrown electronic...

Jun 02 2021

China Plans A $6.2 Billion Digital Currency Lottery for Beijing Residents

After testing its Digital Renminbi use in some of the small cities, China is now planning a big CBDC giveaway for Beijing residents. The Chinese government has planned a 40 million renminbi ($6.2 million) lottery giveaway in form of...

May 24 2021

Fed Governor Lael Brainard Thinks Digital Dollar Can Bring Several Benefits

On Monday, May 24, Federal Reserve Governor Lael Brainard backed the idea of a central bank digital currency (CBDC) and stated that it could bring along a variety of benefits. The Fed Governor also added that having a Digital Dollar will...

Apr 29 2021

Fed Chairman Says The U.S. Is Not Competing With China on Central Bank Digital Currency (CBDC)

The Chinese central bank - People's Bank of China (PBoC) - has expedited its efforts on launching its central bank digital currency (CBDC) Digital Yuan. However, the U.S. isn't quite...

Apr 27 2021

Here’s Why The Digital Yuan Is The Opposite Of Bitcoin

The Digital Yuan is imminent. The time for Central Bank Digital Currencies is near us. Sooner than later, CBDCs will be the norm. And the Digital Yuan will break ground. Here's what this means for Bitcoin and why the two assets are directly...

Jan 18 2021

Central Bank Digital Currencies [CBDC] Are Inevitable Believes Stephen Harper, Former Canadian PM

Jan 18 2021 Published at Coingape under tags  bitcoin (btc) bitcoin news btcbrl btcbusd btcdai

During a recent interview, former prime minister of Canada Stephen Harper said that he believes Central Bank Digital Currencies [CBDC] are inevitable and he sees Bitcoin as an alternative reserve currency to the US Dollar....

Oct 29 2020

Jerome Powell: CBDC Could Improve U.S. Payment System

Federal Reserve Chairman Jerome Powell has stated that a central bank digital currency (CBDC) could improve the current payment system in the United States but that there also potential pitfalls to address as well. Jerome Powell made this assertion during the International Monetary Fund (IMF) panel discussion on cross-border...

Oct 09 2020

Report: Expect Ethereum To Lose the #2 Spot to Tether (USDT) in 2021

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...

Sep 25 2020

Ripple CEO: Interoperability is Pivotal in Deploying CBDCs Globally

Quick take: Ripple CEO, Brad Garlinghouse, has pointed out that interoperability between CBDCs will be pivotal to the digitization of fiat currencies Without interoperability, they are building the same 'siloed systems' without communication bridges RippleNet and XRP can bridge this gap of interoperability The CEO of Ripple, Brad Garlinghouse, has stressed the need for interoperability in the development of the various Central Bank...

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