On The Web

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Systems

Bank of Canada says global approach needed on digital currencies, working with G7

November 2 2020

• in
• Central bank digital currencies (CBDC)

“The Bank of Canada is working with its G7 partners on its plans for a digital currency, Governor Tiff Macklem said in an interview, adding a “globally coordinated” approach was needed to prevent suprises and to keep such tools from being used by criminals. Macklem told Reuters that the central bank was working on moving […]

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Systems

Australia’s central bank launches digital currency project

November 2 2020

• in
• Central bank digital currencies (CBDC)

“Australia’s central bank on Monday said it was launching a project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). The Reserve Bank of Australia (RBA) said it was partnering with Commonwealth Bank CBA.AX , National Australia Bank NAB.AX , Perpetual and […]

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Global

Russia launches public consultation on digital ruble

October 28 2020

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

“The Central Bank of Russia (CBR) has begun a public consultation on the launch of a central bank digital currency (CBDC) that would allow citizens to use “mobile devices and other media” to make payments using a digital ruble. The Digital Ruble: Public Consultation Report lays out possible options and ways to implement a digital […]

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Systems

Central Bank of Bahamas Launches Landmark ‘Sand Dollar’ Digital Currency

October 22 2020

• in
• Central bank digital currencies (CBDC)

“The Central Bank of the Bahamas has officially launched its national digital currency. The first of its kind in the world to have been fully deployed, the sand dollar is a digital version of the Bahamian dollar. Issued by the country’s monetary authority as a central bank digital currency (CBDC), the announcement of the launch […]

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Systems

Why Central Banks Want to Create Their Own Digital Currencies Like Bitcoin

October 22 2020

• in
• Central bank digital currencies (CBDC)

“Central banks around the world are weighing introducing a new kind of money, known as digital currency. China has been at the forefront of such efforts. In April, Beijing said it would expand its pilot program for a homegrown electronic-payment system , which shares some features with bitcoin and other private cryptocurrencies, to a number […]

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Systems

Fed Takes Cautious Approach to Possibly Issuing Digital Currency

October 20 2020

• in
• Central bank digital currencies (CBDC)

“The Federal Reserve is in no hurry to issue a digital currency, Chairman Jerome Powell said Monday, citing unresolved concerns including the potential for theft and fraud. Central banks around the world are stepping up research on the costs and benefits of central-bank digital currencies, which could supplement existing national currencies. China is ahead of […]

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Systems

Here’s a first glimpse of China’s digital yuan

October 14 2020

• in
• Central bank digital currencies (CBDC)

“China’s long-anticipated digital yuan has arrived in the wallets of some ordinary citizens. Beijing began exploring a digital currency in 2014, with the project going into high gear in 2017 —the same year the country cracked down on cryptocurrency trading. The digital yuan is very much not a cryptocurrency; like the regular yuan, it is […]

On The Wires

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Systems

On the edge of a new frontier: European payments in the digital age

October 23 2020

• in
• Central bank digital currencies (CBDC)

“Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the ECB Conference “A new horizon for pan-European payments and digital euro””

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Systems

The flipside of China’s central bank digital currency

October 16 2020

• in
• Central bank digital currencies (CBDC)

“China’s central bank digital currency, known as ‘DC/EP’ (Digital Currency / Electronic Payment), is rapidly progressing and, if successful, would have major international implications that have not yet been widely considered by policymakers. DC/EP would have ramifications for governments, investors, and companies, including China’s own tech champions. It has the potential to create the world’s […]

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Systems

Retail Central Bank Digital Currency: Design Considerations and Rationales

October 15 2020

• in
• Central bank digital currencies (CBDC)

“…the Reserve Bank’s view is that the public policy case for issuing a general purpose or retail CBDC in Australia is still to be made. Even though the use of cash for transactions is declining, cash is still widely available and accepted as a means of payment. In addition, Australian households and businesses are well […]