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In constructing its Real Digital, Brazil’s central bank is developing mechanisms that can freeze citizens’ conversion to CBDCs in the event of a bank run. Go to Source Powered by WPeMatico
China’s advanced CBDC strategy sees digital yuan airdropped to thousands of people. Meanwhile, Binance Labs raised $500 million for a new Web3 fund. Go to Source Powered by WPeMatico
For years, traditional financial institutions in different parts of the world have been attempting to narrow the financial exclusion gap by extending their services to the unbanked population. Yet for many reasons, these institutions still cannot avail their products and services to everyone that needs them. Regulatory Hurdles While there are several reasons cited for … Read more
Technology is changing fast, but the role of the central bank stays the same, Williams tells an audience of officials, scholars and financial industry leaders. Go to Source Powered by WPeMatico
A look back on the week that was the World Economic Forum and how crypto might have stolen the show. Go to Source Powered by WPeMatico
The working paper traces the effects of operations with CBDC through several scenarios and concludes the Fed will have it under control. Go to Source Powered by WPeMatico
“Crypto is just another technology, it’s a matter of how is it being used. It can be used for good or for bad. From where we sit, we see massive opportunities,” says the director of the UNICC. Go to Source Powered by WPeMatico
The Central Bank of Russia (CBR) has accelerated the development of its digital ruble in response to Western sanctions. The monetary authority now intends to pilot transactions with the new version of the national fiat in early 2023 instead of 2024, as originally planned. CBR to Launch Transactions, Smart Contracts With Digital Ruble as Early … Read more
India’s central bank, the Reserve Bank of India (RBI), has proposed to adopt a “graded approach” to launching the country’s central bank digital currency (CBDC). The RBI also said it is exploring the pros and cons of introducing a digital rupee in India. RBI on the Upcoming Digital Rupee Launch The Reserve Bank of India … Read more
Halfway through 2022, at the proof of concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC. Go to Source Powered by WPeMatico