Tag: central bank digital currency

Nov 28 2021

Tanzania Central Bank Reportedly Prepares To Launch CBDC

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...

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 23 2021

COVID-19 Is Accelerating Asia’s Digital Future Of CBDCs And Bitcoin

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...

Oct 20 2021

A Cryptocurrency Gets To The Central Bank of Israel, CBDC Is On Trial

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...

Oct 18 2021

Central Bank Digital Currencies: A Technocratic Fallacy

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...

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 24 2021

Ripple Partners With Bhutan To Pilot CBDC Project

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 |...

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...

Aug 15 2021

Bank of Ghana To Launch Pilot CBDC Project In Partnership With German Technology Firm

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...

Jul 16 2021

The Coming Rise And Fall Of Central Bank Digital Currencies

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...

Jul 06 2021

PM Of Vietnam Orders Central Bank To Conduct Cryptocurrency Pilot Implementation

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...

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...

Mar 27 2021

Japan’s Central Bank to Start CBDC Feasibility Tests Next Month Onwards

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...

Feb 17 2021

Mastercard Launches Prepaid Card for World’s First CBDC in Bahamas

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

Jan 13 2021

Bitcoin in Race for Adoption Before Central Banks Launch Digital Currencies: Australia’s Macquarie

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.

Nov 30 2020

ECB President Christine Lagarde Pushes The Use of Digital Euro to Complement Cash

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...

Nov 19 2020

Nov 13 2020

Bank of England Official Balks at Shielding Banks Against Digital Currencies: Report

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

Nov 09 2020

Debate Rages on Whether a Digital Dollar Will Unleash Inflation

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

Oct 21 2020

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