Tagged: cbdcs

Developments related to Central Bank Digital Currencies have “Accelerated Dramatically” During Past 18 Months: Report

A report published by Global Digital Finance notes that during the past 18 months, the developments related to central bank digital currencies (CBDC) have “accelerated dramatically.” CBDC projects have gone from the research stage to formulating key policy requirements. Countries like China have even introduced… Read More

Ledger Vault Chosen by Societe Generale-Forge to Offer Security Services for its Central Bank Digital Currency or CBDC Tests

Ledger Vault, a cold or offline storage solution provider for digital assets, has reportedly been chosen by France’s Societe Generale-Forge to offer security solutions for its central bank digital currency (CBDCs) project. As noted by the Ledger Vault team, Societe Generale-Forge, the digital capital markets… Read More

Sky Guo, Co-Founder at Cypherium, will be Representing Blockchain Sector at 75th United Nations General Assembly

Sky Guo, a founding member of OMFIF, an independent forum for central banking, economic policy and public investment, has reportedly been invited by the United Nations (UN) to talk about how foreign policy experts can take advantage of the latest digital technologies to address the… Read More

Governor of Saudi Arabian Monetary Authority Says Central Bank Digital Currencies Seem Promising and are Worth Exploring

Dr. Ahmed Abdulkarim Alkholifey, the Governor of Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank, says that central bank digital currencies or CBDCs seem to be promising and are worth further exploration. Dr. Ahmed’s comments came during a recent webinar held by the International… Read More

Bank of Canada Is Reportedly Planning to Hire Economist that Will Conduct Research related to Fintech and Central Bank Digital Currencies

The Bank of Canada, the nation’s central bank, recently posted a new job requirement for an economist who may have experienced working with digital currencies and financial technologies or Fintech services. The reserve bank has noted that it aims to serve as “a leading central… Read More

Bank of Japan Official Argues that No Single Virtual Currency will Dominate Global Transactions

A Bank of Japan official recently noted that there’s no single virtual currency that will completely dominate global transactions, but only if reserve banks focus on enhancing their existing settlement systems. China, which has been leading the charge when it comes to implementing a national… Read More

Meltem Demirors: CSO at CoinShares Says Cryptocurrency Is “Inevitable” and We Might See Many Bad Policies from Lawmakers

  We recently spoke to Meltem Demirors, the Chief Strategy Officer at CoinShares, a digital asset treasury management firm that manages over $1 billion in assets. Demirors talked about how financial markets reacted after US President Donald Trump tested positive for COVID-19. She also discussed… Read More

CBDCs: Bank of Korea Is Reportedly Planning to Issue and Circulate a Central Bank Digital Currency in 2021

The Bank of Korea (BOK), the reserve bank of the Republic of Korea and issuer of South Korean won, is reportedly planning to issue and circulate a central bank digital currency (CBDC) by next year. As first reported by the Korean Times, the BOK will… Read More

CBDCs Might Help Reduce Fraud, Streamline Auditing Processes, and Enable Financial Inclusion, NEM Group Executive Explains

Antony Welfare, Chief Commercial Officer at NEM Group, an organization supporting the development of NEM, a blockchain or distributed ledger technology (DLT) based platform for building enterprise-grade applications, states that blockchain tech is now more than 10 years old (as far as its application is… Read More

ECB: In Speech at Franco-German Parliamentary Assembly, Christine Lagarde Talks Up Digital Euro

  Lagarde, the President of the European Central Bank, addressed the Franco-German Parliamentary Assembly yesterday (Sept. 21) talking about the strength of the “European Project” while casting an eye on the future of further integration as well as the ongoing effort to achieve a Digital… Read More

Reserve Bank of the Philippines to Continue Working on its Central Bank Digital Currency which Might Streamline Financial Services

Benjamin Diokno, the Governor of the Reserve Bank of the Philippines, recently noted that the underlying technology behind digital tokens may streamline or enhance existing financial services. The nation’s central bank is looking into the feasibility of issuing its own virtual currency. Diokno believes that… Read More

Cypherium, the Creator of Cross-Chain Interoperability Solution for Central Bank Digital Currencies, to Raise Funds via New Token Sale

Cypherium, which implemented the first cross-chain interoperability solution for central bank digital currencies (CBDCs) to communicate with their international counterparts, local industries and wholesalers, has revealed that it will raise funds through a secondary token sale. According to a release, the sale will give investors… Read More

Christine Lagarde, President of ECB, Says lack of Digital Payments Integration in Europe has Led to Foreign Providers taking Charge

Christine Lagarde, the President of the European Central Bank (ECB), has noted that money facilitates both transactions and relationships. According to the former International Monetary Fund (IMF) chair, money may be considered “an expression of sovereignty.” Lagarde, whose comments came during the recently held Deutsche… Read More

Digital Yuan will “Hardly Put a Dent” in US Dollar Dominance and its Role as Global Reserve Currency, Cornell Professor Claims

Eswar Prasad, professor of Trade Policy at Cornell University and senior fellow at the Brookings Institution, acknowledges that the Chinese digital yuan will improve the nation currency’s role as an international payment method. However, he clarified that it will “hardly put a dent” in the… Read More

CBDCs: Ukraine’s Reserve Bank Official Claims Central Bank Digital Currencies Need Private Sector to be Successful

Ukraine’s reserve bank claims that central bank digital currencies (CBDCs) may work well when the private sector is involved. The country’s central banking institution had launched a pilot program back in 2018 that had focused on developing a digital version of Ukraine’s national currency (the… Read More

Bitcoin Is a “Speculative” Asset, Facebook led Libra Stablecoin or Payments System may be Useful for Transactions, Former RBI Governor Says

Bitcoin (BTC) and the controversial Facebook-led Libra stablecoin or payments project might  play a key role in a world where reserve banks are beginning to issue their own digital currencies or CBDCs, according to Raghuram Rajan, former governor at the Reserve Bank of India (RBI)…. Read More

CBDCs: China’s Virtual Yuan or Digital Currency Electronic Payment (DCEP) System to be Introduced in Hong Kong’s Greater Bay Area

China’s virtual yuan (CBDC), which is also referred to as digital currency electronic payment (DCEP), will reportedly be introduced for testing in Hong Kong’s Greater Bay Area within the next few weeks. The Greater Bay Area is a megapolis that includes nine major cities (Guangzhou,… Read More

CBDCs: Wang Yongli, Former VP of China’s Reserve Bank, Argues that Central Bank Digital Currencies can Serve as Cash Substitute

Wang Yongli, the former VP of China’s reserve bank, has argued that central bank digital currencies (CBDCs) can serve as a substitute for cash or paper money in circulation. Yongli, the director of the Haixia Blockchain Research Institute, noted that virtual currencies can effectively serve… Read More

CBDCs: Bank of Japan and the Central Bank in the Philippines Continue to Conduct Research to Determine Feasibility of Digital Currencies

The Bank of Japan or BOJ (JASDAQ: 8301), the nation’s central bank that’s headquartered in Chūō, Tokyo, has reportedly appointed Kazushige Kamiyama, a prominent economist, as its head of a department that’s tasked with conducting research on central bank digital currencies (CBDCs). Reuters reports that… Read More

Sky Guo, Founding Member at OMFIF Digital Monetary Policy Institute, Explains why Interoperability Is an Important Aspect of Central Bank Digital Currencies, or CBDCs

  We recently caught up with Sky Guo, a founding member at the OMFIF Digital Monetary Institute, the global central banking think tank that assists policymakers with understanding central bank digital currencies (CBDCs). Guo, who’s also the founder of Cypherium, which focuses on enabling interoperability… Read More

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