CBDC

Stablecoins Are the Bridge From Central Banks to Consumer Payments

Alexander Lipton is the CTO of Sila, a visiting professor and Dean’s Fellow at the Jerusalem Business School of the Hebrew University of Jerusalem, and a Connection Science Fellow at the Massachusetts Institute of Technology. As many still wait to receive the check from the Paycheck Protection Program and Health Care Enhancement Act, which is …

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Russia’s Biggest Bank is Buying 5000 Blockchain ATMs That Can Mine Crypto

Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia’s oldest and largest bank and holds almost 44% of …

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Private Firms Can Boost Central Bank Digital Currencies, IMF Official Says

A senior figure at the International Monetary Fund (IMF) believes a digital currency backed by a central bank would open the door to much greater innovation in retail payments. Tommaso Mancini-Griffoli, the IMF’s deputy division chief in the Monetary and Capital Markets Department, said synthetic CBDCs – digital currencies backed by the liabilities of a …

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Chinese Communist Party Adds Crypto to Curriculum

A higher education institution that trains Chinese Communist Party officials has published a new book about cryptocurrency.  According to a local blockchain news report on May 19, the Party School of the Central Committee of the Communist Party of China — also known as the Central Party School — published the book as part of …

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COVID-19 Incentivizing Crypto and Leading Mainstream Adoption

Crypto is a place where everything changes faster than in any other industry, and seeing as it was born in the age of the internet, this is quite fitting. Today, China is leading the global digital asset initiative. The train of innovations seems to go faster as the digital yuan (also referred to as DCEP) …

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Visa Files Patent Application For Digital Currency

Visa has filed an application to create digital currency on a blockchain with the U.S. Patent and Trademark Office. According to the application published May 14 — but filed way back in November 2018 —  inventors Simon J. Hurry and Alexander Pierre with the Visa International Service Association in San Francisco have sought a patent …

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Can Central Bank Digital Currencies Protect Individual Privacy?

Crypto industry leaders and law experts debated the privacy implications of central bank digital currencies (CBDC) during the ‘Money Re-Imagined’ panel as part of Consensus:Distributed on May 11. Lawrence Summers, the former U.S. Treasury Secretary and former chief economist of the World Bank, argued that the current fiat monetary system exhibits issues of too much …

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How the COVID-19 Crisis Revived the Digital Dollar Debate

Lawmakers have used the coronavirus crisis to revive the digital dollar debate. U.S. House and Senate bills proposed in March, which would allow individuals to hold checking accounts directly with the Federal Reserve, have renewed demand for a tech upgrade of the central bank’s issuance system. Millions of U.S. taxpayers have waited for weeks for …

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Former Bank of China President Says Digital Yuan Can Replace Cash

Former Bank of China President, Li Lihui, has revealed the launch of the digital yuan is imminent, and that the currency can replace cash if four key conditions are met.  The central bank digital yuan is currently in the test phrase and is generating excitement among Chinese internet users. Searches on the impact of the …

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Central Bank Digital Currencies: Changing the Architecture of Money

Once a niche enthusiasm with the launch of Bitcoin (BTC), digital money powered by blockchain technology has matured rapidly in just a few short years. The market is now highly diverse. For example, audited stablecoins, along with fixed use digital cash projects introduced by Wells Fargo and JP Morgan last year, stand in stark contrast …

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