Tag: digital dollar

Jul 15 2021

Fed Chairman: The World Won’t Need Digital Currencies Once We Have the Digital Dollar

On Wednesday, July 14, Federal Reserve Chairman Jerome Powell spoke on the topic of having a Digital Dollar during the hearing before the U.S. House of Representatives Financial Services Committee. The Fed Chairman said that one of the major reasons for the U.S. Central Bank to have digital currency in place is that it will The post Fed Chairman: The World Won't Need...

Jun 11 2021

Central Bank of Nigeria (CBN) Plans For a CBDC Launch By the End of 2021

On Thursday, June 10, the Central Bank of Nigeria (CBN) announced that it preparing for the launch of the central bank digital currency (CBDC) aka Digital Naira and that should happen before the end of 2021. Rukayat Mohammed, the Director...

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...

May 03 2021

The Digital Dollar Project by Accenture Will Kickstart Pilot Program for U.S. CBDC Design and Use Case

Co-founded by consulting giant Accenture, The Digital Dollar Project (DDP) is all set to kickstart pilot tests for the U.S. central bank digital currency (CBDC) over the next year to test its design and use cases. For this,...

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 26 2021

China’s CBDC All Set To Eat Into the Digital Payments Market Share of WeChat and Alipay

Mar 26 2021 Published at Coingape under tags  alipay ant group bank of china cbdc chinese cbdc

Alipay and WeChat Pay the two dominant players in China's online payments marketplace are all set to see tough competition from the country's very own central bank digital currency (CBDC) aka Digital Yuan. On Thursday, March 25, speaking during a panel discussion organized by the Bank of International Settlements (BIS), Mu Changchun, director of the The post China's CBDC All Set To Eat...

Mar 22 2021

Bitcoin to Beat Gold Not Digital Dollar, Says Fed Chairman

The U.S. Fed chairman Jerome Powell said that Bitcoin is a speculative asset like gold and does not see it as a replacement for the American dollar. And certainly not a digital dollar. Fed Not Worried About Bitcoin Powell spoke at the Innovation Summit by the Bank of International Settlements (...

Feb 23 2021

Federal Reserve Chair Calls Digital Dollar “High Priority”

Speaking before the Senate Banking Committee on Feb. 23, Federal Reserve chair Jerome Powell said that developing a digital dollar for the United States is a "high priority." Shifting Gears for Digital Dollar In the past, Powell has...

Feb 12 2021

Ex-CFTC Chair Christopher Giancarlo Stumps for Digital Dollar

"Crypto dad" made his case for the next evolution of America's greenback.

Dec 04 2020

What Is a CBDC?

A CBDC is a central bank digital currency, a new type of money governments are experimenting with that often has blockchain at its core.

Oct 19 2020

“Be Right, Not First,” Says Fed Chairman Powell on a Digital Dollar

Oct 19 2020 Published at Crypto Briefing under tags  analysis cbdc digital dollar

"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...

Oct 07 2020

Ripple Co-founder Hints Shifting Base Out of the U.S, Blames Regulators

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...

Sep 25 2020

Latest Digital Dollar Proposal Spells Trouble for Commercial Banks, Private Citizens

Sep 25 2020 Published at Crypto Briefing under tags  analysis digital dollar

The president and CEO of the Federal Reserve Bank of Cleveland, Loretta J. Mester, revealed plans for a new digital dollar on Wednesday. The plans outline a complete overhaul of the existing system, eliminating commercial banks, and...

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