On The Web

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Systems

US Congressmen Ask Fed to Consider Developing ‘National Digital Currency’

October 3 2019

• in
• Central bank digital currencies (CBDC)

“Two U.S. lawmakers want the Federal Reserve to consider creating a digital dollar. In a letter sent to Federal Reserve Chairman Jerome Powell , Rep. French Hill (R-Ark.) and Rep. Bill Foster (D-Ill.) outline concerns they have about risks to the U.S. dollar if another country or private company creates a widely used cryptocurrency, and […]

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Systems

China Delays Launch of Digital Currency

September 25 2019

• in
• Central bank digital currencies (CBDC)

“China has ‘no timetable’ for the launch of its digital currency, the governor of the country’s central bank has revealed. The People’s Bank of China (PBOC) released in-depth information earlier this month on how its DC/EP digital currency would work and there has been speculation that it would go live as soon as 11 November […]

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Opinion

The Ascent of Digital Money – The Boston Globe

September 16 2019

• in
• Central bank digital currencies (CBDC)

“The advent of various kinds of digital currency creates a new state of affairs. Since the launch of Bitcoin, the world has seen a wave of monetary innovation. Cryptocurrencies have proliferated. Many of these, it is true, have been mere experiments. Some have been downright frauds. And maybe it will turn out that blockchain as […]

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Systems

Facebook’s Libra Cryptocurrency ‘Will Be Blocked in Europe’

September 12 2019

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

“France has said it will block the development of Facebook ‘s Libra cryptocurrency as it poses a threat to “monetary sovereignty”. At the opening of an OECD conference on cryptocurrencies, French Economy and Finance Minister Bruno Le Maire said: “I want to be absolutely clear: In these conditions, we cannot authorise the development of Libra […]

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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

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

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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Global

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

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.”