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Tag Archives: CBDC

China Gets One Step Closer to CBDC

Mar 25, 2020

Decrypt

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...

Payment Giant Alipay Undertakes Crucial Work for China’s CBDC

Mar 24, 2020

Vincent He

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...

More Central Banks Going for CBDC, May Not Use Existing DLT – BIS

Mar 3, 2020

Olusegun Ogundeji

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 ...

BIS: To Succeed, CBDCs Need to Focus on Convenience

Mar 3, 2020

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...

Maybe BIS Membership Slowed China’s Digital Currency Launch

Jan 22, 2020

Olusegun Ogundeji

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...

China Warns Market Hype of CBDC as the Faker Runs Rampant

Nov 19, 2019

Vincent He

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...