On The Web

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Systems

Small-town India May Hold the Key to Success for India’s Blockchain-based Digital Rupee

October 26 2021

• in
• Central bank digital currencies (CBDC)

“The adoption of digital payments by the country’s smaller towns has laid the groundwork for the Reserve Bank of India’s (RBI) digital currency based on blockchain technology. The banking regulator has been working on the phased implementation of its digital currency—the central bank digital currency (CBDC) or the rupee in electronic form. A pilot may […]

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Systems

Nigeria to Launch Digital Currency on Monday, Central Bank Says

October 25 2021

• in
• Central bank digital currencies (CBDC)

“Nigeria will on Monday launch a digital currency, the eNaira, the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in […]

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Systems

Ghana Seeks to Ensure E-Cedi Digital Currency Can Be Used Offline

October 22 2021

• in
• Central bank digital currencies (CBDC)

“Ghana is working to make a digital form of its currency available to offline users. The e-cedi, which the Bank of Ghana is set to pilot , seeks to facilitate transactions without the need for power or connectivity, according to Kwame Oppong, who heads fintech and innovation at the regulator. “Financial inclusion is limited by […]

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Systems

Japan’s Digital Yen to Prioritize Simplicity and Interoperability – CoinGeek

October 21 2021

• in
• Central bank digital currencies (CBDC)

“Japan will prioritize simplicity in its development of a central bank digital currency. A senior official at the Bank of Japan (BOJ) has stated that this will ensure the digital yen is interoperable with other local payment systems. The BOJ has been stepping up its efforts in developing the CBDC at a time when other […]

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Systems

Digital Pound Foundation Launches to Promote CBDC Development in the UK

October 14 2021

• in
• Central bank digital currencies (CBDC)

“The Digital Pound Foundation (DPF), a group of technology, innovation, and regulatory experts, has announced its launch as an independent non-profit organization in the U.K. According to a release issued on Thursday, the DPF will work to promote the implementation of a central bank digital currency (CBDC) in the country. Indeed, as previously reported by […]

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Systems

CBDC Impact on Banking Sector Could Be Manageable: New BIS Report

October 6 2021

• in
• Central bank digital currencies (CBDC)

“A Bank for International Settlements (BIS) working group of seven central banks has determined the impacts of a central bank digital currency (CBDC) on crowding out banks as middlemen in transactions and as facilitators of lending could be manageable for the industry if given the time and flexibility to adjust. The working group published not […]

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Systems

Hong Kong Monetary Authority Releases CBDC Whitepaper to Study Prospect of E-HKD

October 5 2021

• in
• Central bank digital currencies (CBDC)

“Hong Kong’s Monetary Authority, its de facto central bank, has released a whitepaper on retail central bank digital currencies (CBDCs) while it continues to explore the potential of a digital Hong Kong dollar (e-HKD) for its domestic and cross-border markets. The white paper was published Monday by the Hong Kong Monetary Authority (HKMA), which is […]

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Systems

Fed Prepares to Launch Review of Possible Central Bank Digital Currency

October 4 2021

• in
• Central bank digital currencies (CBDC)

“The Federal Reserve plans as early as this week to launch a review of the potential benefits and risks of issuing a U.S. digital currency, as central banks around the world experiment with the potential new form of money. Fed officials are divided on the matter, making it unlikely they will decide any time soon […]

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Systems

New Zealand Exploring Possibility of Issuing a Digital Currency

October 4 2021

• in
• Central bank digital currencies (CBDC)

“New Zealand’s central bank is exploring the possibility of issuing a digital currency, saying the benefits it would bring include its potential use as a monetary policy tool…While developing a CBDC would require long lead times given the complexities and involve a multi-stage approach, the RBNZ said it broadly favors the idea. A digital currency […]

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Global

CBN Postpones ENaira Launch

October 1 2021

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

“The Central Bank of Nigeria has announced the postponement of the launch of the country’s digital currency, eNaira. The bank had earlier said it would launch the currency today, October 1. It announced a postponement Thursday citing lined up events for the country’s 61st independence anniversary. The postponement came a day after a firm (ENaira […]