Reserve Bank of Australia forms partnerships to research CBDC
The project will “explore if there is a future role for a wholesale CBDC in the Australian payments system,” according to the RBA. Go to Source Powered by WPeMatico
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Digital Yuan Giveaway: China’s Shenzhen City Hands Out 10 Million Yuan in Central Bank Digital Currency
A major Chinese city is giving away 10 million yuan in the country’s central bank digital currency this weekend. Recipients can use their digital yuan at 3,389 stores next week. The city aims for the giveaway to boost usage of the new government-backed digital currency. Chinese City Giving Away Digital Yuan The Chinese city of … Read more
US is losing ‘tech cold war with China’ says Ripple co-founder
Ripple’s executive chairman has slammed U.S. lawmakers for losing the blockchain arms race to China Go to Source Powered by WPeMatico
US Federal Reserve Actively Working on Digital Dollar
The Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar. Legislation has proposed that each American could have an account at the Fed for transacting in the central bank digital currency. Several Digital Dollar Initiatives The president of the Federal Reserve Bank of Cleveland, Loretta J. Mester, … Read more
Bank of Japan Appoints Top Economist to Head Up CBDC Research Team
The Bank of Japan insists it has no immediate plans to issue a digital yen, but research into the potential of CBDCs continues apace. Go to Source Powered by WPeMatico
China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan
The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). Now the Chinese ride-hailing corporation Didi Chuxing will be trialing the newly developed digital yuan in a “strategic partnership.” Whether people want to believe it … Read more
China Is Drafting Laws for the Circulation of National Digital Currency
Amid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media. A number of patents have revealed what the digital yuan will be like. Also read: 2x Bitcoin — Wanna Double Your … Read more
Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset
‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt Disney … Read more
Rumors of Bitcoin’s Death Are Greatly Exaggerated
According to the Bitcoin Obituary Page, Bitcoin died 379 times between 2010-2019 of an astonishing array of causes. The number is undoubtedly understated since it is based on a limited sample of obituaries. Despite the glee with which the corpses of Bitcoin are contemplated, however, cryptocurrency thrives because it continues to fill the human need … Read more
Central Bank Officials: DLT Can Improve the Global Financial System
An IMF official is concerned that central banks may be rushing to develop blockchain systems without properly vetting the technology first Go to Source Powered by WPeMatico
