Tagged: cbdc

China: WeiyangX Fintech Review

NUCC: Online Payment Transactions Reach ¥4.98 Trillion During the Spring Festival Holiday During the Spring Festival Holiday of 2021 (February 11th to February 17th), NetsUnion Clearing Corporation (NUCC) processed a total of 7.937 billion online payment transactions, equal to 4.98 trillion yuan. Compared with the… Read More

Researchers at McGill are Reportedly Working on Potential Design for Bank of Canada Virtual Currency or CBDC

The research team at McGill is reportedly collaborating on the potential design for the new Bank of Canada digital currency. Professors Katrin Tinn and Christophe Dubach have jointly proposed a new design for a “cash-like” central bank digital currency or CBDC which will aim to… Read More

Federal Reserve Chair Jerome Powell Says Public Events on Digital Dollar Coming

Today, Jerome Powell, Chairman of the Federal Reserve, returned to Capitol Hill for a hearing on the House side pertaining to Monetary Policy and the State of the Economy. Once again, much of the discussion hovered around COVID, monetary policy and his opinion on the… Read More

Fed Chair Jerome Powell Says Digital Dollar is a High Priority Project

During testimony provided at the US Senate Banking Committee hearing today, Federal Reserve Chairman Jerome Powell commented on the possibility of launching a “digital dollar” calling it a high-priority project for them. Powell was testifying in front of the Senate Banking Committee as part of… Read More

China: WeiyangX Fintech Review

SWIFT and the People’s Bank of China Digital Currency Research Institute Establish a Joint Venture Public records show that SWIFT has recently established a Financial Gateway Information Service Co., Ltd. in China with the People’s Bank of China Clearing Center and the People’s Bank of… Read More

Central Bank Officials are Not Confident in Bitcoin or Other Digital Currencies’ Ability to Serve as Legitimate Financial Instruments

Existing virtual currencies are unlikely to last, according to Bank of England governor Andrew Bailey. Decentralized cryptocurrencies like Bitcoin (BTC) or Bitcoin Cash (BCH) don’t have the appropriate structure to work as a viable long-term payments method, according to Bank of England (BoE) governor Andrew… Read More

Virtual Currencies: Swiss National Bank has Registered New Trademarks like E-Franc, Digital Swiss Franc with Federal Patent Office

The Swiss National Bank (SNB) has reportedly registered many new trademarks with the Swiss Federal Patent Office. This, according to a report from Handelszeitung, which mentioned that  these include the “e-franc” and the “digital Swiss franc.” The SNB has also confirmed this particular report. The… Read More

Blockchain or DLT based Tokenization Is Inevitable, as Global Rivalry in Digital Currencies Continues, Industry Exec Explains

Tal Elyashiv, Founder and Managing Partner at SPiCE VC, which claims to be the first fully compliant (regulation wise) tokenized venture capital fund, notes that today, we’re at the beginning of what might be the greatest transformational period in modern history. Elyashiv writes in an… Read More

Dr. Janet Yellen’s Testimony Before the Senate Finance Committee: “I believe the United States must be a leader in the digital asset and financial technology areas”

Earlier this week, Dr. Janet Yellen, former Chair of the US Federal Reserve and soon to be the Secretary of the Treasury, testified at a hearing before the Senate Finance Committee in regards to her nomination. In advance of the hearing, Dr. Yellen submitted an… Read More

ECB Digital Euro Consultation: Over 8000 Responses, Many Privacy Concerns

The European Central Bank (ECB) reports that it has received 8221 comments regarding its consultation on a digital euro or central bank digital currency (CBDC).  Chief among the comments are privacy concerns as government ledgers for a digital currency raises serious questions about data control…. Read More

The Top Ten Fintech Predictions for 2021

Fintech enthusiasts welcome back to my 5th annual “Top Ten” Fintech prediction series. This year I’ve met a lot of powerful movers and shakers in the Fintech space. My take away from these meetings and interactions is how little do I know about this ever-expanding… Read More

CBDCs: Modern Central Sandbox Introduced by EMTECH to Help with Testing Central Bank Digital Currencies

EMTECH has introduced its “pilot-ready” innovation and regulatory compliance platform, the Modern Central Bank Sandbox, which will focus on serving reserve banks that are planning to “streamline regulatory reviews,” work with innovators on emerging technology (EmTech), or safely test their Central Bank Digital Currencies (CBDC)…. Read More

CBDCs: China to Distribute $3M of Virtual Yuan as JD.com Is Now the First Major Online Service to Accept the Digital Currency

China is reportedly handing out around $3 million of digital yuan as JD.com notably becomes the first online platform to begin accepting the virtual currency. As first reported by CNBC, Chinese digital commerce company JD.com confirmed that it will become the first major online platform… Read More

China: WeiyangX Fintech Review

Suzhou Will Carry Out Digital RMB experiment on Dec. 12 Suzhou will become the second Chinese city after Shenzhen to carry out a digital RMB experiment, according to a source with knowledge of the matter. On December 12th, the crypto yuan for the experiment will… Read More

Facebook’s Libra Cryptocurrency May Launch in January but as a Dollar Backed Stablecoin

Libra, Facebook’s project to launch a global cryptocurrency, may launch as soon a January but as a stablecoin and not as a basket of assets that it originally sought to create. According to a report in the FT, Libra may launch in early 2021 as… Read More

Cypherium, an Interoperability Solution Provider for Blockchain based Digital Currencies, Finalizes Public Sale, Raising $28M in Total

Cypherium, an enterprise-focused distributed ledger tech (DLT) platform that aims to facilitate interoperability between blockchains and central bank digital currencies (CBDCs), revealed on November 18, 2020, that it had finalized its public sale round and has now acquired $28 million in capital through the sale… Read More

Cypherium, an Interoperability Solution Provider for Blockchain based Digital Currencies, has Launched its Mainnet

Cypherium, an enterprise-focused distributed ledger tech (DLT) platform that aims to facilitate interoperability between blockchains and central bank digital currencies (CBDCs), has launched its mainnet. The Cypherium main network launch has come after the project raised $28 million in capital which includes $4 million from… Read More

Norway Is Not in a Rush to Launch its Own Digital Currency Even though Cash Usage has Declined Significanty

The reserve bank in Norway has confirmed that it’s not in a rush to issue a digital Krone, even though a recent research study indicates that cash usage in the country is now down to only 4% of all financial transactions. Declining cash usage is… Read More

Tourism Industry has Struggled due to COVID, and now Many Tourism focused Countries May Adopt Digital Currencies to Boost Economy

The COVID-19 pandemic has created many different socioeconomic challenges. It has definitely been a really tough year for the travel and tourism industry as most people were forced to cancel their travelling plans and stay at home (to prevent the further spread of the virus)…. Read More

Dave Hodgson: CIO at NEM Group and MD at NEM Ventures Discusses Plans for Enterprise Blockchain Development and Support for DeFi

  We recently connected with Dave Hodgson, Chief Investment Officer at NEM Group and Managing Director NEM Ventures. NEM (XEM) is a major blockchain or distributed ledger technology (DLT) based platform for building and deploying decentralized applications (dApps). Hodgson’s role encompasses group investment management, jurisdictional… Read More

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