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China’s Central Bank Likely to Pilot Digital Currency in Cities of Shenzhen and Suzhou: Report – CoinDesk

December 9 2019

• in
• Central bank digital currencies (CBDC)
• China

“The tests are likely to include the participation of state-owned partners. These comprise the “Big Four” commercial banks – the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and the Agricultural Bank of China – and three telcos, China Telecom, China Mobile and China Unicom. The pilots will see the digital […]

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Systems

Coindesk – Leader in Blockchain News.

November 25 2019

• in
• Central bank digital currencies (CBDC)

“In a speech Thursday, First Deputy Governor Denis Beau issued some of France’s strongest comments yet in support of distributed ledger technology (DLT), which he said likely solves many outstanding market issues. One solution France is considering: a central bank digital currency (CBDC). Beau said the eurozone has a responsibility to at least consider a […]

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Systems

Fed Reserve Evaluating Digital Dollar But Benefits Still Unclear, Says Chairman

November 20 2019

• in
• Central bank digital currencies (CBDC)

“In a Nov. 19 letter responding to questions from lawmakers Rep. French Hill (R-Ark.) and Rep. Bill Foster (D-Ill.) in late September, Powell said the Fed has noted the efforts of other nations to explore a CBDC option, and that it continues to “carefully analyze the costs and benefits of pursuing such an initiative in […]

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Systems

BRICS Nations Ponder Digital Currency to Ease Trade, Reduce USD Reliance

November 15 2019

• in
• Central bank digital currencies (CBDC)

“The BRICS association of major emerging economies has discussed developing a digital currency to ease trade in the bloc and reduce its reliance on U.S. dollars in settlement. The possibility was raised by the BRICS business council at a meeting in Brazil amid talks on the development of a new payments system between its five […]

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Systems

Mnuchin, Powell See No Need for Fed to Issue Digital Currency – BNN Bloomberg

December 11 2019

• in
• Central bank digital currencies (CBDC)

““Chair Powell and I have discussed this — we both agree that in the near future, in the next five years, we see no need for the Fed to issue a digital currency,” Mnuchin said Thursday at a House Financial Services Committee hearing in Washington. Some other central banks, including the People’s Bank of China, […]

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Systems

Riksbank Develops an E-krona in a Test Environment

December 17 2019

• in
• Central bank digital currencies (CBDC)

“The Riksbank has implemented a public procurement of a technology supplier to the e-krona pilot project and intends to sign an agreement with consulting company Accenture. The primary objective of the e-krona pilot project is to broaden the bank’s understanding of the technological possibilities for the e-krona.”

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Systems

Former Regulator Known As ‘Crypto Dad’ to Launch Digital-Dollar Think Tank

January 16 2020

• in
• Central bank digital currencies (CBDC)

“J. Christopher Giancarlo, who stepped down as chairman of the Commodity Futures Trading Commission last year, said he was creating the nonprofit Digital Dollar Foundation to study converting the dollar into a fully electronic currency based on blockchain, the technology that underpins bitcoin. The U.S. risks losing the advantages it enjoys from having the dominant […]

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Systems

Central Bank Pilots Digital Currency in the Bahamas

January 7 2020

• in
• Central bank digital currencies (CBDC)

“The Central Bank of The Bahamas has begun pilot testing a digital version of the Bahamian dollar that uses QR codes to let users make payments and transfer funds using their smartphones. “The intended outcome of Project Sand Dollar is that all residents in the Bahamas would have use of a central bank digital currency, […]

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Systems

Central Banks Warm to Issuing Digital Currencies

January 23 2020

• in
• Central bank digital currencies (CBDC)

“One in 10 central banks surveyed in 2019 said it was likely to offer digital currencies within the next three years, covering about 20% of the world’s population, according to a report from the Bank for International Settlements. The proportion of central banks likely to issue digital money almost doubled when the horizon was stretched […]

On The Wires

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Systems

Central Bank Group to Assess Potential Cases for Central Bank Digital Currencies

January 21 2020

• in
• Central bank digital currencies (CBDC)

“The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential cases for central bank digital currency (CBDC) in their home jurisdictions.  […]