24,000 Lithuania digital token launches next week as CBDC trial
The Euro Zone is set to experience another face of central bank-issued digital currency, following a recent announcement about the Lithuania digital token. The Baltic country is looking to secure its financial spot from the likes of Facebook, by proposing a digital coin which will be issued starting from next week. Euro Zone to see […]
Buy Bitcoin: Pomp convinces comedian Bill Burr to take the plunge
Anthony Pompliano has persuaded a well-known stand-up comedian to buy Bitcoin by elucidating the loopholes in a fiat-based economy and requesting him to go for it and take the plunge. https://youtu.be/UbMaPYX52go The year 2020 has offered several tipping points to Bitcoin. From being hailed as a potential hedge against collapsing fiat currencies amid the coronavirus […]
American digital dollar inches one step closer to reality
An American digital dollar is poised to be the next big financial milestone. It’s every crypto investor’s dream, and the US government seems to be walking the right path. Chinese DCEP has reached the testing phase, and other central banks are also exploring similar projects. Now, the United States is also planning to enter the […]
Thailand crypto industry under watch as government crackdown on drug lords, money launders, others
Determined to end the reign of meth syndicate, who are responsible for laundering several millions of dollars, the Thailand crypto industry would be closely monitored by Authorities, AFP report claims. Outside cryptocurrencies, these criminals make use of every other thing like gold, Oil, construction to launder money as Thailand police are ready to give whatever […]
COVID-19 has accelerated the need to develop CBDC, says BIS Report
The annual BIS Report by Bank of International Settlements has been released, and it says that Coronavirus pandemic has accelerated the need to create central bank digital currencies. The report mentions that central banks must realize that the time to move ahead with CBDC projects has come. The COVID-19 has exposed many new cracks in […]
Thailand CBDC prototype payment system launches after Ithanon completion
The central bank of Thailand (BOT) is nearing the complete release of its digital currency. It recently revealed plans to debut the Thailand CBDC prototype payment system. This is coming after the successful completion of its CBDC project dubbed Inthanon. BOT readies Thailand CBDC On Thursday, the bank revealed it is looking to establish a […]
Central Bank of Canada CBDC underway as institution advertises for project Manager
A Central Bank of Canada CBDC appears to be underway if a job positing for a CBDC project manager is anything to write home about. The financial institution has been working behind the scenes to develop its native central bank digital currency (CBDC). After a job posting for the position of the projects’ manager on […]
BOK establishes legal panel for Korea digital currency, ‘just in case’
The central bank of Korea (BOK) has established a legal advisory group for Korea digital currency or CBDC. Although this could be defined as another step by the country in launching a national digital currency, however, the bank said it doesn’t mean they are actually preparing to launch Korea digital currency. BOK makes yet another […]
The Bank of Ghana intends to pilot a central bank digital currency
The first deputy governor at the central bank of Ghana affirmed that the bank is committed to piloting a central bank digital currency. Dr. Maxwell Opoku-Afari, the first deputy governor of the Bank of Ghana (BoG) spoke at a virtual stakeholder workshop on payment systems and services to reveal the institution’s future plans. Ghana to […]
Saudi Arabia blockchain adoption heightens as country uses tech to fund local banks
Saudi Arabia blockchain adoption has gotten a boost as the country’s apex bank, Saudi Arabian Monetary Authority (SAMA), revealed that it made use of the technology to fund local banks. Using the tech, the bank administered its liquidity injection into the economy. After it’s blockchain use, the bank revealed that what is next is for […]
Crypto mining in Kazakhstan legalized soon after bill passage
The House of Representatives is set to deliberate on the passage of a bill that will make crypto mining in Kazakhstan become a legal business. This is amidst the country being seen in the spotlight as a new hub for crypto mining. An emerging hub for crypto mining in Kazakhstan Kazakhstan is seen as an […]
Consumer payments: Central banks set to adopt stablecoins
With a larger part of the United States of America population still awaiting their COVID-19 stimulus paychecks, suggestions have been flying around as to why a central bank digital currency is not yet in use across the country. The Economic Impact Payment, the firm saddled with the responsibility of making sure everyone gets their stimulus […]
Crypto adoption: CBDC performance could trigger increase
The Chinese DCEP has been doing pretty well in the economy after it was released and launched in four cities across the country. In a recent podcast interview series, director of financial markets at OKEx, Lennix Lai gave his own opinion about the growth of the DCEP and how it will help foster crypto adoption. […]
Central Banks approach to CBDC favors blockchain technology, Bank of Korea reports
The Central Bank of Korea has recently submitted a report that has highlighted how central banks approach to CBDC around the world will be focused on Blockchain technology. According to the report, central banks around the world have been harnessing the thoughts of creating their digital currency with blockchain technology because of technological advancement. The […]
Chinese e-Yuan goes Live – End of Bitcoin dominance?
The long-awaited Chinese e-Yuan has been released, and investors are all gearing up to jump in on the bandwagon. Central bank digital currencies are gaining momentum, with more than 70 percent of nations working to create state-backed cryptocurrencies. China is leading the CBDC race. President Xi Jinping has already remarked that blockchain development is crucial […]
JPMorgan: Bank digital currencies can undermine US geopolitical power
Analysts at the biggest multinational Investment bank in America, JPMorgan, have warned that the concept of central bank digital currencies or CBDCs, could undermine the geopolitical power of the United States. This was disclosed in a Bloomberg post on May 22. Bank digital currencies set dollar dominance at risk Notably, the idea of bank digital […]
France becomes first country to debut a Blockchain based digital euro trial
Amid the ongoing pandemic that is escalating across the globe, central banks are doing what can be classified as the toughest times of their lives. Aside from the fact that they have to work overtime to pump cash into the economy to salvage it from the biting consequences, they have been saddled with the responsibility […]
Top European Central Bank official discusses the adoption of CBDC at a crypto event
One of the top executives at the European Central Bank has discussed the adoption of the digital currency made by the bank by majority of the population. Yves Mersch, an executive stated that the bank is looking for ways to help the further adoption of CBDC at a faster pace. The high ranking official gave […]
Mauritius CBDC pilot check to begin soon
Harvesh Seegolam, governor Bank of Mauritius, has said at a distributed virtual conference that the country would begin its pilot check to launch a Central Bank Digital Currency (CBDC) soon. He said currently, before Mauritius CBDC, the bank is working on a project and will soon make an announcement as regards a potential CBDC. The […]
ECB to focus more on retail CBDCs, and not for business case, Mersch
The European Central Bank will focus more on the release of retail CBDCs than any other business aspect attached to it. Yves Mersch, one of the bank’s board members, revealed the development on Monday during the virtual Consensus 2020. According to Mersch’s statement, the central bank’s plan to release a digital currency is originally not […]
Canada crypto community gets boost as skeptic Poloz exits
In what can be classed as a way forward, the Canada crypto community has gotten a boost after the country’s finance minister, Bill Morneau, appointed a new Bank of Canada governor. Tiff Macklem, the new governor, is to replace Stephen Poloz, who is known to be Bitcoin skeptic after calling the crypto trading a form […]
ECB explores Digital Euro as COVID-19 crisis continues
The European Central Bank (ECB) is exploring options to develop its payments infrastructure and is studying solutions both with blockchain and without. The main cause of this exploration has been the COVID-19 outbreak, which has caused the ECB to worry about its stimulus cash. The ECB is looking for a solution that can ensure that […]
There’s only one real winner in the US-China trade war – Its crypto
Long before the COVID-19 ravaged the markets, the US-China trade war was putting a question mark on the world economy. President Donald Trump brazenly bashed China on global trade events and forums and even enacted policies that promoted local manufacturing. His motto ‘America First’ grabbed headlines and promoted the US-China trade war in media circles. […]
US, China draw battle lines as coronavirus outbreak derails global economy
As the coronavirus outbreak continues to ravage across the United States, leaving a devastating impact on the global economy by severely damaging the industrial activity of the world’s two most significant and largest economies, Forbes reports that this could very well be the beginning of the end of the US dollar dominance. President Donald Trump […]
China CBDC testing list features Starbucks and McDonald’s
The ambitious China CBDC testing schedule is set to begin on a commercial scale. The experiment will cover many industries, sectors, companies, and even government services. Now, the authorities have announced that chosen international brands operating will also be a part of the China CBDC testing process. The list of testing centers for Chinese central […]
Digital yuan could be tested by McDonald’s, Starbucks and Subway
Rumors have it that there is an upcoming real–world test of the proposed China’s digital yuan. According to a local Chinese publication called Interchain Pulse, a promotion conference took place on April 22 in the city of Xiong’an, which is situated close to China’s capital of Beijing. Among the participants in the piloting phase include […]
Digital Euro: Dutch central bank wants to play “leading role” in CBDC development
The central bank of the Netherlands, De Nederlandsche Bank (DNB), wants to become the proving ground for the digital Euro. The bank released a 45-page report saying that it was ready to “play a leading role” in the research and the development of its own and a Europe-wide digital currency. Digital Euro A digital dollar […]
Digital currency craze catches up with Dutch Central Bank
The digital currency craze has caught up with the Netherlands Central Bank (DNB). The bank wants to be part of developing and testing the digitalized Euro. There is a significant shift from using fiat and the central bank digital money is planned to cash in on the anticipated boom going forward. Crypto usability has played […]
Consumers pick CBDCs over decentralized cryptocurrencies, survey
A joint survey conducted by The Economist and Crypto.com reveals that consumers would rather prefer central bank digital currencies (CBDCs) than place their trust in decentralized crypto assets like Bitcoin. It is a known fact that the number of central banks looking to tap into positive crypto sentiments by introducing their own CBDCs has seen […]
Can CBDCs and crypto ideals coexist?
CBDCs is an oxymoron as it seems contrary to true crypto ideals. Cryptocurrencies are gaining traction across the globe. Their mainstream adoption is increasing every day, and real-world use cases are also on the rise. Whether it is cross-border remittances or anonymous privacy-focused payments, cryptocurrencies are increasingly becoming part of the general psyche. And now, […]
BIS researchers forecast adoption of digital payments amid Covid-19
Bank for International Settlements (BIS) researchers have reiterated reports that the coronavirus could be spread through physical cash; hence, it could eventually result in the adoption of digital payments. Coronavirus pushes adoption of digital payments In accordance with the Bulletin recently released by BIS, the researchers noted that the impact of the virus is slowly […]
