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Tag Archives: central bank digital currencies CBDC

Shanghai Pushing for Inclusive Finance with New Digital Yuan Pilot

Nov 1, 2021

Olusegun Ogundeji

The city of Shanghai is seemingly reaching a new height in its effort to position itself as a major player in China’s race to gain greater influence in digital-age global governance particularly with the use of its digital yuan.  As the Feb 2022 proposed launch date for China’s central b...

Digital Yuan Shows CBDC A Distant Cousin of Bitcoin

Jul 13, 2021

Olusegun Ogundeji

China’s central bank digital currency (CBDC) push is merely bringing to life what could be considered an extension of what cryptocurrencies could achieve, a fintech and China expert has suggested.  Richard Turrin, author of ‘Innovation Lab Excellence’ and ‘Cashless’, a book on C...

EU Bank Top Official Points Out Digital Yuan’s Risk to Euro

Jul 1, 2021

Olusegun Ogundeji

China’s digital yuan may become a key risk to the euro’s international role, the European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau has said. Villeroy, who is also the Bank of France governor, urged EU policymakers to act on the region’s payment s...

US Reps Highlight Likely Digital Dollar’s Edge Over Yuan

Jun 16, 2021

Olusegun Ogundeji

How a U.S. digital dollar could gain an edge over China’s yuan was the topic of discussion on Tuesday June 15 in the US House of Reps.  Several experts were on hand to testify before the House Committee on Financial Services Task Force on Financial Technology regarding “Dig...

Media Reports on China’s DC/EP Drawbacks, Risks 

Jun 1, 2021

Olusegun Ogundeji

In the wake of a rebuttal by the former director of the digital currency institute that its DC/EP is not to monitor citizens’ payments, two China-focused media reports have highlighted some of the drawbacks to the CBDC. Yao Qian, a former People’s Bank of China (PBoC) official, ...

Fingerprint ID Coming to New DC/EP Card

May 7, 2021

Olusegun Ogundeji

Fingerprint authentication technologies are coming to a new card-based digital wallet solution for the Digital Currency/Electronic Payment (DC/EP) according to an expanded collaboration between China's Chutian Dragon and IDEX Biometrics announced on Wednesday May 5. Chutian ...