Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

January 31 2020

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Systems

Cambodia Launching Digital Payments Platform

February 4 2020

“The National Bank of Cambodia’s new digital currency is called Bakong. It’s effectively a central bank digital currency (CBDC) and was launched on a trial basis throughout Cambodia in July. Chea Serey, director-general of the National Bank of Cambodia (NBC), said the new system will be operational within the current fiscal quarter, Cointelegraph reported. Serey […]
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Systems

Draft of India’s National DLT Strategy Calls for State-Run Digital Rupee

January 30 2020

“A draft of India’s national strategy on blockchain and distributed ledger technology suggests a central bank digital currency (CBDC), the digital Indian rupee, and a national blockchain. The National Institute for Smart Governance (NISG), a non-profit public body incorporated by the government of India, has published a draft document on the country’s national blockchain strategy. […]
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Systems

Central Bank Digital Currency Policy-Maker Toolkit

January 27 2020

“The World Economic Forum’s Central Bank Digital Currency (CBDC) Policy‑Maker Toolkit seeks to address the need for a concise CBDC decision guide that provides comprehensive and risk‑aware information to policy‑makers. This document serves as a possible framework to ensure that any CBDC deployment fully considers the costs as well as the potential benefits, appraising a […]
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Systems

The Digitalization of Payments and Currency: Some Issues for Consideration

February 7 2020

“The entrance of BigTech and FinTech into payments may drive competition, enhance product offerings, and lower transactions costs. It has the potential to enhance financial inclusion by expanding the number and diversity of ways people gain access to financial services and by creating more consumer friendly offerings. A Federal Deposit Insurance Corporation (FDIC) study found […]
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Systems

Secretive Digital Fiat Project Emerges With New Partner As CBDC Chatter Grows

February 25 2020

“As central bank digital currencies (CBDCs) march into view, a privately-run version of digital fiat is adding a key tech partner. Utility Settlement Coin (USC), the blockchain-based payments system involving commercial and central banks, will be working with ConsenSys-backed startup Adhara, CoinDesk has learned. Adhara was behind Project Khokha , which used enterprise blockchain client […]
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Systems

China’s Central Bank: Don’t Transform Traditional Payment Systems Using Blockchain – Ledger Insights

February 24 2020

“Today the Digital Currency Research Institute’s Blockchain Research Group published a paper reviewing the current status of blockchain. The group is responsible for the People’s Bank of China (PBoC) central bank digital currency (CBDC), also known as DC/EP or the digital renminbi. The article reviews the pros and cons of blockchain and concludes that blockchain […]
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Systems

Does the U.S. Need a National Digital Currency?

February 25 2020

“As electronic payments take off and private cryptocurrencies such as bitcoin seek to gain traction, governments are exploring whether to issue digital versions of their national currencies that could be used as a universal form of payment in the way physical cash is today. These conversations gained urgency for some last year when Facebook Inc. announced […]