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Systems

China’s Central Bank Developing Own Digital Currency in Response to Libra

July 9 2019

• in
• Central bank digital currencies (CBDC)

“China’s central bank is reportedly developing its own digital currency in response to Facebook’s Libra as the latter could purportedly pose a risk to the country’s financial system, the South China Morning Post reported on July 8. Wang Xin, director of the People’s Bank of China (PBoC) research bureau, argued that “if [Libra] is widely […]

On The Web

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Systems

Swiss Startup to Produce ‘Banknotes’ for Marshall Islands’ Official Cryptocurrency

January 29 2019

• in
• Central bank digital currencies (CBDC)

“Switzerland-based crypto hardware wallet maker Tangem says it has been selected by the Republic of the Marshall Islands to produce the “physical blockchain notes” for the nation’s planned national digital currency. Tangem announced the news Monday, saying the blockchain notes will be used to store the republic’s Sovereign (SOV) digital currency, which is being launched as an alternative […]

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Systems

The Fed wants no part of a national cryptocurrency

January 2 2019

• in
• Central bank digital currencies (CBDC)

“In February, Aleksander Berentsen and Fabian Schar, researchers at the St. Louis Fed, wrote that a central bank “could easily” create its own crypto. “However, the key characteristics of cryptocurrencies are a red flag for central banks,” they warned.”

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Systems

Digital Fiat Currency Is Going Main Stream

November 29 2018

• in
• Central bank digital currencies (CBDC)

“In Hangzhou, the New Digital Economy capital of China, I attended the Asia Pacific Fintech Round Table at the Inauguration of the International Business School of Zhejiang University and Cambridge University, where I met the Former Prime Minister of South Korea, Prof Han Seung-soo.　He has invited me to present at the International Finance Forum annual […]

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Providers

Central Banks See ‘No Value’ in Issuing Digital Currency: BIS Chief

March 25 2019

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

“The general manager of the Bank for International Settlements (BIS) has again warned that caution is needed when considering central bank digital currencies. In a speech at the Central Bank of Ireland on Friday, Agustin Carstens said that central banks today “are not seeing the value” of venturing into the unknown when it comes to […]

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Systems

Central Banks, Stablecoins and the Looming War of Currencies

August 20 2019

• in
• Central bank digital currencies (CBDC)

“By far the most important player here is not a startup, a bank, or even a tech company. It’s the Chinese government. The People’s Bank of China’s forthcoming central bank-backed digital currency , or CBDC, is not a stablecoin per se – its value isn’t just expressed in terms of a fiat-currency benchmark; it’s a […]

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Systems

Facebook’s Libra Is Spurring Central Banks’ Interest in Issuing Cryptocurrency

July 1 2019

• in
• Central bank digital currencies (CBDC)

“The Bank for International Settlements (BIS) in Basel, Switzerland is the bank for global central bankers. It’s the stodgiest of stodgy institutions, in other words, and it’s been slow-moving when it comes to cryptocurrency. Now it appears to be picking up the pace, however, spurred by Facebook’s announcement this month that it plans to issue […]

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Systems

Bundesbank Sees Dangers in Digital Central Bank Money

May 30 2019

• in
• Central bank digital currencies (CBDC)

“Central banks must exercise caution in introducing digital currencies that could potentially destabilize the financial system during times of crisis, Bundesbank President Jens Weidmann said on Wednesday. Central banks around the globe are examining the benefits of digital money, spearheaded by the Swedish Riksbank with its e-krona pilot scheme, a potential response to the rapid […]

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Systems

Winds of Change: The Case for New Digital Currency

November 14 2018

• in
• Central bank digital currencies (CBDC)

“What role will remain for cash in this digital world? Already signs in store windows read “cash not accepted.” Not just in Scandinavia, the poster child of a cashless world. In various other countries too, demand for cash is decreasing—as shown in recent IMF work. And in ten, twenty, thirty years, who will still be […]

On The Wires

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Systems

Wipro, R3 Build Blockchain-Based Solution Prototype to Power Digital Currency in Thailand

May 8 2019

• in
• Central bank digital currencies (CBDC)

“Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced that the company, in partnership with R3, the enterprise blockchain software firm, has developed a blockchain-based solution prototype to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand […]