Tag: CBDC

The current situation in the financial market is like oil and water. The blockchain-based digital economy does not mix with the fiat economy and old finance. With one exception – CBDCs. But what future awaits them? “Over the past few years, I had some run-ins with regulators. And there are two sides to this coin….

Depending on who you ask, cash will not remain king. The Covid-19 pandemic not only accelerated the shift toward digital and contactless payments but also led to a more mainstream acceptance of physical cash alternatives like cryptocurrency that will likely stay, economist Eswar Prasad tells CNBC Make It. “For many consumers and businesses that made…

Nigeria launched on Monday a digital currency (eNaira), the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. Nigeria joins 14 other countries now in the pilot stages with their own central bank digital currencies (CBDCs), including China, South Korea, and Sweden, with a total…

Governments in Asia are quickly researching or implementing CBDCs. What this means for the region’s overdependence on the U.S. dollar Jinia Shawdagor is studying on Cointelegraph. The rapid growth of mainstream attention toward cryptocurrencies has forced the hands of numerous governments to create their digital alternatives. Over the past few years, interest from various jurisdictions…

The Bank of International Settlements (BIS) and seven different central banks, including the Bank of England, Bank of Japan, European Central Bank, and U.S. Federal Reserve, published three new reports, which find that while a groundbreaking innovation to monetary policy, central bank digital currency (CBDC) pose many opportunities and uncertainties. Digital currencies backed by central…

There are currently several countries developing state digital currencies for cross-border settlements. And chances are, they will arrive even before the typical “in-country” CDBCs. While market turbulence is throwing prices of cryptocurrencies and DeFi assets up and down, central banks of different countries move forward with creating their own central bank digital currencies (CDBCs) with…