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Systems

China Catches Fraudsters Using Central Bank Digital Currency for Money Laundering – Ledger Insights – Enterprise Blockchain

“In China, fraudsters use similar methods to what they’d try for a debit or credit card scam but adapted for the digital yuan. The 21st Century Herald gave two examples. In one case, the target of the fraud was contacted and told that an item he’d bought was defective, and the company wanted to give […]
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Systems

France Sees Merits in a Wholesale Central Bank Digital Currency

“The Bank of France called for further research on a central bank digital currency for wholesale use in the financial sector after finding efficiency advantages for markets and payments. Testing showed a CBDC could maintain standards for securities settlements and avoid potential fragmentation from the existence of multiple private versions, according to the bank. It […]
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Reports

JPMorgan Estimates CBDCs Could Save Corporates £100 Billion in Transaction Costs

“A full-scale, multiple central bank digital currency (mCBDC) network could potentially save global corporates up to $100 billion in transaction costs annually, according to a joint research report from Oliver Wyman and JPMorgan. The report estimates that of the nearly $24 trillion in wholesale payments that moved across borders via the correspondent banking network each […]
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Systems

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

“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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