Former Chinese central banker says digital yuan ‘usage has been low’
A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.” Go to Source Powered by WPeMatico
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China’s CBDC wallet resorts to ages-old tradition to boost adoption
A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app. Go to Source Powered by WPeMatico
India’s Central Bank Chief: Cryptocurrencies Will Cause Next Financial Crisis if They’re Not Banned
The governor of India’s central bank, the Reserve Bank of India (RBI), has warned that the next financial crisis will come from cryptocurrencies, like bitcoin and ether. The central bank chief added that cryptocurrencies pose “huge inherent risks” to India’s macroeconomic and financial stability. Indian Central Bank Warns About Crypto Causing the Next Financial Crisis … Read more
Bank of England opens applications for ‘proof of concept’ CBDC wallet
The bank requires the wallet to execute basic features such as transacting value and requesting payments and set its budget at nearly $255,000. Go to Source Powered by WPeMatico
Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program
The Bank of Spain is seeking the collaboration of organizations interested in participating in an experimental test on a wholesale central bank digital currency (CBDC). The institution clarified this new program has no relation with the current investigation on a possible digital euro, and has the objective of examining the real possibilities and advantages of … Read more
Spain’s central bank to experiment with wholesale CBDCs
The Bank of Spain said the study can help determine to what extent it can adapt to the “needs and demands of an increasingly digital society.” Go to Source Powered by WPeMatico
India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims
An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This is essentially what we are doing in the CBDC experiments,” he stressed. RBI … Read more
‘I Wanted to Punch Kanye’ — Free Speech Waffler Elon Musk’s Nonsensical Take on Bitcoin, CBDCs, and Censorship
“Vox Populi, Vox Dei, man.” So says self-proclaimed Chief Twit Elon Musk from a private jet flying high above the world during a Twitter Spaces appearance on Sunday, Dec. 4 (JST). It does sound nice to say, but the voice of the mob should never be the voice of “God.” The reasons are myriad. Suffice … Read more
US Lawmakers Say Any Digital Dollar Must Be Open, Permissionless, and Private
Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.” Congressmen Say Any US CBDC Must Be Open, Permissionless, and Private U.S. Congressman Tom Emmer (R-MN) announced Thursday that he has … Read more
RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks
India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The … Read more
