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New Bank of America Report Says Digital Currencies ‘Could Boost Economic Growth’ in Developing Countries
23.6.2021
A new Bank of America (BOA) research study has found that both central bank digital currencies (CBDCs) and private digital currencies hold “a lot of potential” for increasing financial inclusion in developing countries. In the report, the bank also argues that such “digital...
Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies
8.5.2021
Central bank digital currencies (CBDCs) are steadily becoming a serious discussion among governments globally, with Kazakhstan as the latest country unveiling its plans. The National Bank of Kazakhstan is making preparations to launch a CBDC pilot program soon. The National Bank Released a Public...
Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’
30.4.2021
Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop...
Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce
19.4.2021
Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central...
Jamaica Plans to Pilot a Central Bank Crypto, CBDC to Work Alongside Notes and Coinage
26.3.2021
While a number of countries are working on central bank digital currencies (CBDCs), on Tuesday, the Bank of Jamaica (BoJ) announced it will soon be piloting a CBDC project. The BoJ is working with a firm called Ecurrency Mint Incorporated and plans to pilot the cryptocurrency in May. Jamaican CBDC...
Monetary Stability: The IMF and Fed Chair Jerome Powell Discuss Digital Currency Implications
19.10.2020
On Monday, the International Monetary Fund (IMF) published a report on crypto assets like central bank digital currencies (CBDCs) and global stablecoins (GSCs). Moreover, the IMF also hosted a virtual panel that discussed digital currencies and cross-border payments with the Federal Reserve Chair...
Why the Rise of the CBDC Is Bad for Your Privacy
22.8.2020
Like, hate, or fear them, central bank digital currencies (CBDCs) are on their way. There will be no stopping them. From Sweden to Thailand and China to Canada, governments the world over are experimenting with CBDCs. While most are being undertaken as pilots at this stage, China’s is all...
Grayscale: Central Bank Digital Currencies Will ‘Neither Replace nor Harm Scarce, Uncompromising Bitcoin’
28.5.2020
Central bank digital currencies (CBDCs) pose no threat to Bitcoin’s value proposition, instead, they will spur its growth toward mass adoption. In a new report, Grayscale Investments said CBDCs will never replace BTC because unlike the top cryptocurrency, they can be inflationary and are open...
Cambodia Announces Own Cryptocurrency as More Details Surface About China’s Digital Yuan
3.2.2020
With China still in the lead, other countries are advancing their projects to develop payment systems around central bank digital currencies (CBDCs). Cambodia, for example, has recently revealed it will mint its own coin within months. The news comes as more details about the digital Chinese yuan...