Central bank digital currencies (CBDCs) have been the talk of the industry since last year, when significant efforts from several countries were announced. While some efforts, like the Venezuelan Petro, seemed poised to fail from the start, there are still a handful of ambitious projects tha...
Authors: Aditi Kumar, Jeremy Ney, Eve Lee, Victor Ji China piloted a national digital currency in April 2020. The European Central Bank has convened a working group of major economies to coordinate digital currency research and development. The U.S. Federal Reserve said it was...
Although the schedule of the second batch of China’s digital yuan pilot is delayed, more regions in China are striving for the trial. In some second and third-tier provinces and cities, local governors expect the application of digital yuan in the local area. For example, in Guizhou provin...
While central bank digital currencies have been the talk of the industry for at least a year, few have managed to garner as much attention as China’s digital yuan did. With the country racing to get to the forefront of blockchain development, investing both money and resources into creating a di...
The article is originally published on Belfer Center for Science and International Affairs of Harvard Kennedy School by Aditi Kumar. While much of the world is consumed by the COVID-19 crisis, the Chinese government is quietly unleashing a financial innovation that will reshape ...
The cryptocurrency sphere this past week has seen big momentums with bitcoin price rose to take $9,000 again. The Chinese crypto space is also moving forward with positive developments: a city in “bitcoin mining capital” Sichuan encourages crypto mining operations to help consume excessive hyd...
As the world embraces technology and the Coronavirus pandemic has forced businesses to adopt a cashless approach, several central banks around the world are exploring whether or not they could issue a CBDC to complement cash. A CBDC or Central Bank Digital Currency is the digital form...
A Chinese commercial bank of China is conducting internal testing of China’s digital yuan DCEP wallet, and four cities are listed as outlets, namely Shenzhen, Xiong’an, Chengdu and Suzhou according to 8btc’s report. People in charge of the DCEP from China’s central bank str...
Ever since the coronavirus swept the globe, there have been fewer announcements within the cryptocurrency and blockchain industry. While in this past week, blockchain-related news from China keeps on making the headlines. China’s central bank digital currency (CBDC) digital yuan is tested, ...
Ant Financial, a spin-off of Chinese e-commerce giant Alipay and akin to PayPal in the U.S., has launched a consortium blockchain platform which enables developers and small and micro enterprises (SMEs) to utilize innovative blockchain tools with higher efficiency and lower cost. At t...
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