The People’s Bank of China (PBoC) has reportedly finished the first-technical-step of developing its sovereign digital currency. Yet, the launch date is still vague; now the central bank needs to come up with relevant laws for its circulation, and that can take even more time. An anonym...
Chinese payment giant Alipay has published 5 patents related to CBDC (central bank digital currency) from February 21 to March 17. Alipay, a third-party payment company, will undertake four crucial functions of China’s CBDC. Assuming the function of delivery and transaction bookke...
The Bank for International Settlement (BIS) has presented central banks seeking to issue central bank digital currencies (CBDCs) to the public with design stage choices even as it identifies 17 selected projects either researching, piloting, or, like China, have ongoing work in place at ...
While tokenizing national currencies could be the solution to the world's financial woes, central bank digital currencies (CBDCs) need to compete with both cash and payment operators such as Visa and PayPal. This is the main take from the quarterly report from the Bank for Internatio...
Central banks are looking at creating their own digital currencies as a countermeasure to the rise of cryptocurrencies issued by the private sectors. Days ago on February 20, Sweden’s central bank Riksbank said it had begun testing an e-krona and the pilot will run until February 2021; las...
Compared with the digital currencies that have been issued or are being developed like Libra, the digital currency of China’s central bank is the only one that explicitly requires "dual offline payment". China’s central bank has put forward a set of plans. ICBC (Industrial and Commercial...
Barely days after the US suggests the possibility of a Fed-issued digital coin, Australia has somewhat followed China in establishing its stance on blockchain by releasing a national roadmap after a year of preparation. The document, which attests to Australia's recognition of the potenti...
Several European central banks have announced their coming together with the Bank for International Settlements (BIS) to create a group to share knowledge as they assess the potential use cases for a central bank digital currency (CBDC). The move by the Bank of Canada, the Bank of...
The 2020 annual meeting of China’s central bank (PBOC) was held in Beijing from January 2 to 3, on which the current economic and financial situation was analyzed and key work in 2020 was deployed. ‘The research and development of fiat digital currency is going smoothly’, China’s ce...
Recently, China’s central bank issued an announcement on the DCEP (China’s CBDC) again, pointing out that the trading of "DC / EP" or "DCEP" in the market is fake as the system is still in the process of research and testing. This is the second time China’s central bank ha...
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