As currency becomes increasingly digitized, more end users are able to reap its benefits, in turn feeding an underlying network effect of increased market participants and inclusion. “There are many technical benefits you have with a digital currency that you just can’t do with traditional...
The push toward central bank digital currencies seems an inexorable one. But among the issues that remain to be sorted out are the parameters of how they are used, where they might be used — and whether there may be limits to it all, especially...
It’s a widely reported data point that 93% of central banks are in at least some stage of deploying — or at least exploring — central bank digital currencies (CBDCs). But a Thursday (Aug. 10) report from the Bank of Canada, the Canadian central bank, seems...
Central bank digital currencies (CBDC) are on pretty much every central bank’s road map. A full 93% of central banks across the globe are in at least some stage of CBDC development, per data from the Bank of International Settlements. And a string of recent announcements...
Could a central bank digital currency (CBDC) help America’s unbanked population? It appears that way, according to a new report by the Digital Dollar Project (DDP). The organization announced Thursday (Aug. 3) it had wrapped a pilot study conducted in collaboration with Western Union, BDO...
Nigeria’s central bank wants more citizens to use its digital currency. To that end, the bank’s acting governor, Folashodun Adebisi Shonubi, tweeted Wednesday (July 26) that the Central Bank of Nigeria (CBN) would amend its eNaira to “ensure an increase in the volume and activity of wallet holders.” CBN...
Russia could reportedly begin testing a digital ruble before the summer’s end. Lawmakers in the country, whose payment systems have been hamstrung since last year due to its war with Ukraine, approved the creation of a digital currency on Wednesday (July 19), according to a report by Bloomberg...
As you read this, the very nature of money is being interrogated and experimentally reshaped. “There’s a huge global trend going on right now into exploring the intricacies, complexities, difficulties and benefits of leveraging the properties of DLT [decentralized ledger technology] for the financial system,”...
A new Bank of International Settlements (BIS) survey shows the increasing popularity of central bank digital currencies. The survey, released Monday (July 10), found that the share of central banks involved in some sort of central bank digital currency (CBDC) project rose to 93%, while uncertainty about short-term CBDC issuance...
