CBDC

Thailand’s Central Bank Eyes DeFi Use Cases for Its Digital Baht

Source Node: https://cointelegraph.com/news/thailands-central-bank-eyes-defi-use-cases-for-its-digital-baht
Time Stamp: August 14, 2020 7:55 AM - Modified On: May 21, 2021 - Published By:
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Thailand’s central bank is looking at smart contracts and decentralized finance (DeFi) implementations for its national digital currency, the digital baht.Vijak Sethaput, senior developer for the Bank of Thailand’s (BoT) central bank digital currency project Inthanon, discussed the country’s CBDC progress in an interview hosted by a global think tank for central banking, the Official Monetary and Financial Institutions Forum, on Aug. 13.Sethaput was joined by Sky Guo, CEO of New York-based enterprise blockchain firm Cypherium, which is focused on global CBDC implementations and interoperability.In the interview, Guo said that

Cryptocurrency News Roundup for Aug 3, 2020

Source Node: https://beincrypto.com/cryptocurrency-news-roundup-for-aug-3-2020/
Time Stamp: August 3, 2020 3:43 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin started the week on a positive note after an unusually volatile weekend by recent standards. The BTC/USD price temporarily reached a local high of over $12,000. The eventful weekend was preceded by a credit-rating downgrade from Fitch who placed a “negative outlook” on the United State’s triple-A rating on Friday. Fitch added that a “resurgence of inflation” could be on the cards, which would in turn force the Fed to increase interest rates. It would be interesting to see the effects that would have on Bitcoin and its brethren.

Ex-Chinese Banking Exec Says CBDCs Will Substitute Cash in Circulation

Source Node: https://beincrypto.com/ex-chinese-executive-says-digital-currencies-will-substitute-cash-in-circulation/
Time Stamp: August 3, 2020 10:26 AM - Modified On: May 21, 2021 - Published By:
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A former Bank of China executive has shown his support for digital currencies, positioning it as a substitute for cash, widely known in economic circles as M0. Ex-vice president of China’s central bank, Wang Yongli, said that digital currencies should substitute all currencies “as much as possible”. The push for digital currency: “shouldn’t be confined to such substitution; otherwise, its market competitiveness could be problematic,” ,he said. Yongli is the present director of the Haixia blockchain research institute and previously served at the People’s Bank of China (PBoC) for over

Bank of Korea Launches Experimental Trial for National Cryptocurrency

Source Node: https://coinfomania.com/bank-of-korea-experimenting-cryptocurrency/?utm_source=rss&utm_medium=rss&utm_campaign=bank-of-korea-experimenting-cryptocurrency
Time Stamp: April 6, 2020 5:15 AM - Modified On: May 21, 2021 - Published By:
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The central bank of South Korea has announced the launch of its Central Bank Digital Currency (CBDC) pilot project to determine the requirements of issuing a government-backed cryptocurrency in the future.  According to a report by Yonhap today, the trial which commenced last month is a 22-month program focused on the technological and legal provisions needed to launch a CBDC. The Bank of Korea (BoK) believes the possibility of issuing a CBDC in the future is slim because of the increased demand for fiat currencies, the competitive nature of the global

People’s Bank of China Continues CBDC Development Talks

Source Node: https://cointelegraph.com/news/peoples-bank-of-china-continues-cbdc-development-talks
Time Stamp: April 5, 2020 4:06 PM - Modified On: May 21, 2021 - Published By:
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The People’s Bank of China held a teleconference on April 3 in Beijing, China. One of the main points confirmed during the call involved the institution’s continued research and development of a central bank digital currency, or CBDC.CBDC development is one of the bank’s top priorities The meeting summarized the central bank’s achievements with fiat currency, gold, silver, and securities since the end of 2019. Executives analyzed the bank’s present challenges in depth, while acknowledging that their top priority for 2020 is the continued research and development of a CBDC, saying: “The

BIS Calls for Central Bank Digital Currencies Amid Coronavirus Pandemic

Source Node: https://cointelegraph.com/news/bis-calls-for-central-bank-digital-currencies-amid-coronavirus-pandemic
Time Stamp: April 5, 2020 12:02 AM - Modified On: May 21, 2021 - Published By:
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The Bank of International Settlements (BIS) has issued a report arguing in favor of central bank digital currencies (CBDCs) and digital payments amid the COVID-19 pandemic.The bulletin published by the BIS, a 600-member international financial institution representing the central banks of 60 countries, urges central banks to consider developing CBDCs in light of concerns regarding the spread of coronavirus through existing payment methods.BIS warns of COVID-19 transmission via credit card terminalsThe report notes a significant negative change in consumer attitudes regarding the use of cash in response to the World Health