project

Privacy Is Key for Successful Digital Euro, Data Protection Body Says

<div class=”featured_image_container”> </div> <strong>The European Data Protection Board (EDPB) has issued a call for EU institutions to uphold privacy when designing a digital version of the euro. The agency is ready to provide advice on data protection matters surrounding the project. Meanwhile, an ECB executive has vowed that the digital euro will protect users’ privacy. …

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Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector

<div class=”featured_image_container”> </div> <strong>The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. </strong> European Central Banks to Collaborate on CBDC Project The …

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Kalashnikov Eyes Digital Ruble Settlements as Russia Aims to Replace ‘Dirty Money’

<div class=”featured_image_container”> </div> <strong>Kalashnikov Group, the Russian firearms manufacturer, is ready</strong><strong> to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank of Russia reaffirmed its intention to replace “dirty” and “infectious” paper cash with the digital ruble that’s currently under development. </strong> Russia’s …

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Central Bank of Sweden Invites Financial Market Actors for Second Phase of E-krona Pilot

<div class=”featured_image_container”> </div> <strong>Sveriges Riksbank, the central bank of Sweden, will carry out the next stage of its e-krona project with the help of two organizations from the financial sector. The move signals a transition from the initial in-house testing with simulated participants to cooperation with real, external partners. </strong> Riksbank to Work With Handelsbanken …

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Chinese Firm Bit Mining Invests $9M to Build 100 Megawatt Bitcoin Farm in Kazakhstan

<div class=”featured_image_container”> </div> <strong>Shenzhen-based Bit Mining is planning to construct and operate a 100 MW crypto-mining data center in Kazakhstan. The project will be implemented in partnership with two local companies that will also provide the enterprise with an array of services. The total amount of the investment will exceed $9 million. </strong> Kazakhstan to …

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Bank of Korea Seeking Technology to Develop Digital Currency

<div class=”featured_image_container”> </div> <strong>South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. </strong> Central Bank of …

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Bank of Russia to Launch Digital Ruble Prototype by End of Year

<div class=”featured_image_container”> </div> <strong>The Central Bank of Russia (CBR) is preparing to release a digital prototype of the national fiat towards the end of 2021, a high-ranking official has confirmed. Transfers between private individuals will be free of charge with the digital ruble, which is going to have legal tender status on par with Russia’s …

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Bank of Israel Drafts Model of a Digital Shekel

<div class=”featured_image_container”> </div> <strong>The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at any moment. …

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Fintechs Invited to Work on Georgia’s Central Bank Digital Currency

<div class=”featured_image_container”> </div> <strong>National Bank of Georgia (NBG) has issued a call for companies in the fintech sector, financial institutions and technology firms to support its efforts to create a digital currency. Georgia’s central bank wants to employ new technologies to raise the efficiency of the country’s payment system and promote financial inclusion. </strong> Georgia’s …

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