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A major Chinese city is giving away 10 million yuan in the country’s central bank digital currency this weekend. Recipients can use their digital yuan at 3,389 stores next week. The city aims for the giveaway to boost usage of the new government-backed digital currency. Chinese City Giving Away Digital Yuan The Chinese city of […]
The post Digital Yuan Giveaway: China’s Shenzhen City Hands Out 10 Million Yuan in Central Bank Digital Currency appeared first on Bitcoin News.
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Ripple’s executive chairman has slammed U.S. lawmakers for losing the blockchain arms race to China
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The Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar. Legislation has proposed that each American could have an account at the Fed for transacting in the central bank digital currency. Several Digital Dollar Initiatives The president of the Federal Reserve Bank of Cleveland, Loretta J. Mester, […]
The post US Federal Reserve Actively Working on Digital Dollar appeared first on Bitcoin News.
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The Bank of Japan insists it has no immediate plans to issue a digital yen, but research into the potential of CBDCs continues apace.
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The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). Now the Chinese ride-hailing corporation Didi Chuxing will be trialing the newly developed digital yuan in a “strategic partnership.” Whether people want to believe it […]
The post China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan appeared first on Bitcoin News.
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Amid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media. A number of patents have revealed what the digital yuan will be like. Also read: 2x Bitcoin — Wanna Double Your […]
The post China Is Drafting Laws for the Circulation of National Digital Currency appeared first on Bitcoin News.
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‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt Disney […]
The post Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset appeared first on Bitcoin News.
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According to the Bitcoin Obituary Page, Bitcoin died 379 times between 2010-2019 of an astonishing array of causes. The number is undoubtedly understated since it is based on a limited sample of obituaries. Despite the glee with which the corpses of Bitcoin are contemplated, however, cryptocurrency thrives because it continues to fill the human need […]
The post Rumors of Bitcoin’s Death Are Greatly Exaggerated appeared first on Bitcoin News.
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An IMF official is concerned that central banks may be rushing to develop blockchain systems without properly vetting the technology first
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In his testimony before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell answered a number of questions regarding digital currencies. While stating that “a ledger where you know everybody’s payments” is not a problem in China, he believes it is not attractive for the U.S. Admitting that Facebook’s Libra project was a wake-up […]
The post Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger appeared first on Bitcoin News.
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