On The Web

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Systems

ING Economist: The US Has Most to Lose in War of Digital Currencies

March 5 2020

• in
• Central bank digital currencies (CBDC)

“In a world where China gives foreign customers and companies access to a digital yuan, this would have a profound effect on the demand for dollars in the FX market. China’s plans to issue a digital yuan are well established, apparently having been in the works for some five years and nearing completion.”

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Systems

Bahamas Expands Digital Currency Pilot

March 4 2020

• in
• Central bank digital currencies (CBDC)

“The Central Bank of The Bahamas has extended its central bank digital currency pilot to the island of Abaco and revealed that the new Sand Dollar currency will include support for offline functionality. The Sand Dollar pilot lets citizens use a digital version of the Bahamian dollar to make payments and transfer funds using their […]

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Systems

Central Banks Are Contemplating a World Without Cash

March 2 2020

• in
• Central bank digital currencies (CBDC)
• Checks
• Cryptocurrencies

“As money gets swept up by tech innovation, government authorities are taking a closer look at old fashioned notes and coins. More than a dozen countries are either researching, piloting, or, like China, have ongoing work in place for central bank digital currencies, according to a Bank for International Settlements report published today .”

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Systems

Bank of Canada Preparing for Possible Digital Currency

February 26 2020

• in
• Central bank digital currencies (CBDC)

“In a speech to a business audience in Montreal, Bank of Canada Deputy Governor Tim Lane made no mention of future rate moves. He said the bank had concluded there was “not a compelling case” for the issuance of a central bank digital currency (CBDC) at this time and outlined two primary scenarios that could […]

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Systems

Bank of England on Stablecoins and CBDC – Cannot Hold Back Evolution of Money – Ledger Insights – Enterprise Blockchain

March 6 2020

• in
• Central bank digital currencies (CBDC)

“Last week the Deputy Governor of the Bank of England, Sir John Cunliffe, gave a speech about money, including stablecoins and Central Bank Digital Currency (CBDC). He concluded that the form of money has always evolved and is something that can’t be held back. His biggest concern is the substitution of commercial bank money, whether […]

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Systems

Central Bank Digital Currencies: the Cross-Border Dimension

March 6 2020

• in
• Central bank digital currencies (CBDC)

“On January 21, 2020, the BIS (Bank for International Settlements) announced that a group of central banks (Canada, United Kingdom, Japan, Sweden, Switzerland and the European Central Bank) will share their experiences as they assess the different cases for launching central bank digital currencies (CBDCs) in their home jurisdictions. This announcement illustrates the growing importance […]

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Systems

Coronavirus Will Not Delay the Launch of China’s National Blockchain Network

March 25 2020

• in
• Central bank digital currencies (CBDC)

“Despite the outbreak of coronavirus, China has clarified that it will be launching its national blockchain network in April 2020, as scheduled earlier. The Blockchain-based Service Network (BSN) is a distributed ledger technology (DLT) platform developed by the Chinese government in conjunction with tech companies and financial institutions.”

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Systems

New Coronavirus Stimulus Bill In Congress Creates U.S. Digital Dollar

March 24 2020

• in
• Central bank digital currencies (CBDC)

“As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ […]

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Systems

French Central Bank to Experiment With Wholesale Central Bank Digital Currency – Ledger Insights – Enterprise Blockchain

March 31 2020

• in
• Central bank digital currencies (CBDC)

“Yesterday the Banque de France announced plans for an experiment to help with clearing and settlement of tokenized digital assets. To that end, it is calling for participants in a wholesale central bank digital currency (CBDC) test for interbank settlement. The announcement doesn’t come as a surprise because the Bank’s Governor Villeroy de Galhau previously […]

On The Wires

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Systems

The Digital Dollar Project Names 22 New Advisory Group Members

March 27 2020

• in
• Central bank digital currencies (CBDC)

“A partnership between Accenture (NYSE: ACN) and the Digital Dollar Foundation, the Digital Dollar Project was created to encourage research and public discussion on the potential advantages of a CBDC — or a “digital dollar.” The Project will identify options for a CBDC solution to help enhance monetary policy effectiveness and financial stability; provide needed […]