Cybersecurity and the risk of cyber fraud pose challenges to the successful rollout of a central bank digital currency (CBDC), Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday (Dec. 8), per a LiveMint report. “[The] main concern comes from the angle of...
A battle seems to be brewing within the crypto arena – one that pits central banks against the bitcoins (and the other cryptocurrencies) of the world. The latest illustration comes via reports that Indonesia’s central bank is considering using central bank digital currencies (CBDCs) as...
An innovation hub will help the U.S. central banking system advance the process of implementing digital currency, Federal Reserve Chair Jerome Powell said, according to a Monday (Nov. 29) press release. The New York Federal Reserve debuted its innovation hub on Monday (Nov. 29). In...
Two of the most prevalent and fastest-growing ways of making cashless, digital payments are via scannable QR codes and tap-your-card NFC readers. Both were invented in Japan. Care to guess which developed nation is using them the least? That’s right, Japan. Despite being one of...
The Central Bank of India could pilot a digital currency early in 2022, a change from when the central bank governor thought a soft launch of a central bank digital currency (CBDC) could happen by December, although there never was an official timeline announced by...
In China, the digital yuan is getting ever closer to a widespread, national rollout. And, so, as might logically follow … the fraudsters are testing things out a bit, looking for vulnerabilities. Ledger Insights, in turn citing Chinese language site The 21st Century Herald, reported...
In examining the emergence of central bank digital currencies (CBDCs) and their use cases — and the infrastructure that underpins it all — a twist on that old baseball movie comes to mind. If you build it, will they come? In the U.K. and the...
For central banks, there’s a long road between mulling a central bank digital currency (CBDC), defining the ramifications and launching it. It could take years, in fact. And meanwhile, China, among the first major world economies to come out of the gate with its digital...
Central bank digital currencies (CBDC) will likely become legal tender in their home countries, officials from two European central banks said Tuesday (Nov. 9). Speaking at a panel in Helsinki on CBDCs, European Central Bank executive board member Fabio Panetta said that it the “likely”...