CBDCs

BIS Researchers Say Coronavirus Could Spur Central Banks to Adopt Digital Payments

Researchers at the Bank for International Settlements (BIS) think COVID-19 may accelerate the adoption of digital payments and sharpen the debate over central bank digital currencies (CBDC). They issued their forecast in BIS’ April 3 Bulletin. COVID-19 is changing the public’s relationship with cash, they said, despite the scientific community’s consensus that coronavirus transmission via …

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The Pandemic Gives Digital Currencies Another Chance to Shine

Marcelo M. Prates is a lawyer at the Central Bank of Brazil and holds a doctorate from Duke University School of Law. The views expressed here are his own and do not reflect the position or policy of any of the institutions with which he is affiliated. In times of crisis and radical uncertainty, the …

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Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset

</header> <strong>‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt …

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Digital Pound Could Present ‘Challenges’ for UK, Says Mark Carney

The outgoing governor of the Bank of England (BoE) has highlighted the potential risks to monetary governance if a central bank digital currency were to be launched in the U.K. In a foreword to a BoE working paper on Thursday, Mark Carney wrote, “While CBDC (central bank digital currency) poses a number of opportunities, it …

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Viral Tech: London Blockchain Week Spreads Into Day Two Despite Coronavirus Scare

The second day of Fintech Worldwide’s Blockchain Summit kicked off to unusually glorious sunshine. But you’d be hard pressed to notice that in the venue because there was no natural light filtering through to the handful of attendees that braved the ongoing coronavirus scare. Despite COVID-19’s spectre looming large over the conference, panelists spoke about …

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Japan Doesn’t Need a Digital Yen, Asserts BOJ Official

Advanced economies such as Japan’s don’t need a digital currency, the deputy governor at the Bank of Japan (BoJ) asserted during a recent meeting. Speaking at the Bank for International Settlement’s recent Future of Payments Forum, Deputy Governor Masayoshi Amamiya argued a Japanese central bank digital currency (CBDC) currently has little merit. CBDCs could greatly …

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Even With CBDCs, the State Won’t Forfeit Its Power Over Money

James Cooper is a professor of law at California Western School of Law in San Diego. A former contractor for the U.S. and advisor to governments and indigenous peoples concerning disruptive technologies for the legal sector, he has advised blockchain companies in Asia.   In the heyday of cryptomania, when everyone was investing in any …

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BIS Paper Reckons With P2P Payments, Tokenized Securities, Central Bank Digital Currencies

Researchers at the Bank for International Settlements (BIS) are grappling with the future of payments – so much so that their newest quarterly report, released Sunday, is entirely dedicated to what that potential revolution holds. In its 138-page look at what lies beyond the financial horizon, the Swiss-based institution reckoned with coming trends that may …

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China’s DCEP Unlikely to Impact Crypto Markets in the Long-term, eToro Analyst Says

China is taking a great leap forward to develop a central bank digital currency, with more than 80 patents filed by the People’s Bank last week. The 84 patents filed on Feb. 13 include proposals related to the supply and issuance of a central bank digital currencies (CBDC) as well as interbank settlements using the …

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Circle Founder: Digital Currencies at Key Growth Moment as Governments Take Notice

Throughout the seven volatile years during which Circle founder Jeremy Allaire has been developing crypto products, he has consistently warned there’s much work to do before the technology is ready for mass usage. Now, with governments starting to explore digital currencies, new stablecoin models emerging and big tech platforms like Facebook getting involved, he finally …

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