Tag: central bank digital currency

Tanzania has reportedly started exploring a Central Bank Digital Currency (CBDC). The country is following the footsteps of Nigeria, which launched its own digital currency last month. Other African countries have similarly announced plans to launch CBDCs. Tanzania Explores CBDC According to a Bloomberg...

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...

A future powered by digital assets is assured as governments around the world look to technology for economic progress.Whether or not you’d believe inflation could reach World War II levels, it’s clear that the global economy post-COVID-19 looks uncertain. A chasm is growing between the developed and developing markets fueled by uneven vaccination rates and Gross Domestic Product growth. Central Bank Digital...

The possibility of issuing a cryptocurrency fills the Central Bank of Israel with enthusiasm. A digital shekel has come from merely a theory to a persistent search for possible solutions. Their pros and cons list seems to have grown, leading them to be on the lookout for answers and new ideas. Back in June, Bank of Israel deputy governor Andrew Abir announced an...

CBDCs are antithetical to bitcoin and represent repression as opposed to freedom.You may have heard of central bank digital currencies (CBDCs) and have had a slight read over what they are and the reasons for their current or proposed existence. Many people aren’t interested in it, to be frank. Maybe it’s the boring acronym, maybe it’s just another thing in a failing...

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...

Ripple, in partnership with The Royal Monetary Authority of Bhutan, will start trials for a digital Ngultrum. The San Francisco-based company will integrate its distributed ledger technology into Bhutan's existing payment system with the help of its CBDC Private Ledger product. Related Reading |...

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...

Ghana is one of the few African countries that is hopping on the cryptocurrency train. The country is particularly taking concrete steps towards embracing this innovation. During the Fifth Ghana International Trade and Finance Conference in Accra, The Vice President of Ghana – Dr. Mahamudu Bawumia – said that African governments should embrace virtual currencies. His reason was that it would boost trade...

Digital currencies are quickly gaining traction in the world; but Bitcoin is poised to maintain superior incentives.Bitcoin’s popularity has unleashed a race for digital money dominance, which is likely to intensify with the emergence of Central Bank Digital Currencies (CBDCs). In a 2021 survey of central banks, 86% of respondents indicated they are...

Phạm Minh Chính, the prime minister of Vietnam, has mandated the country's Central Bank to study and pilot cryptocurrency implementation. This puts Vietnam’s State Bank as the first bank of a country to explore the practicability and functions of central Bank Digital currencies (CBDCs). The country’s State Bank is about...

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...

As the CBDC developments catch pace worldwide, the Bank of Japan is making its own moves. On Friday, March 26, the Japanese central bank said that it will start the feasibility study and test of its own CBDC - Digital Yen...

The Bahamian Sand Dollar can now be used for payments anywhere Mastercard is accepted.

With a runway of a year or more before the Federal Reserve and other major central banks can launch digital currencies, bitcoin and other private cryptocurrencies could gain a foothold in electronic commerce.

Christine Lagarde, the current president of the European Central Bank (ECB), has once again spoken in favor of the Digital Euro. In her recent interview with the L’ENA hors les murs magazine, Lagarde speaks about the future of money...

Listen To The...

Deputy Governor Jon Cunliffe says protecting bank business models is not BoE's responsibility.

Some speculate that if the Fed implements a digital dollar, soaring inflation will soon follow.

Where to listen:...