Hosting a CBDC? Only one of Bitcoin, Ethereum or XRP can do it, says report
Not all cryptocurrencies have the attributes desired by central banks for hosting CBDCs. A 44-page report commissioned by CPA Australia delves into the status of Central Bank Digital Currency development worldwide, while exploring viable blockchain candidates for hosting CBDCs in the coming years.The report offers up evaluations of the three most transacted cryptocurrencies in Bitcoin (BTC), Ethereum (ETH) and XRP (XRP), and analyses their suitability (or lack thereof) for use by central banks. Bitcoin’s decentralized network and lack of oversight by banks or governments makes it generally....
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Cooperation between public and private sectors would be vital for a global CBDC system, says a new joint report. The Bank for International Settlements (BIS) continues investigating the development of the global central bank digital currency (CBDC), publishing a new joint report with seven central banks.Released Sept. 30, BIS’ latest CBDC report refers to joint efforts to explore a retail CBDC alongside the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the United States Federal Reserve, Sveriges Riksbank and the Swiss National Bank.The report provides....
The report by PwC shows that 80% of central banks are considering or have already launched a CBDC. More than 80% of central banks are interested in launching a Central Bank Digital Currency (CBDC) or have already done so according to research conducted by accounting firm PwC.The second annual Global CBDC Index report released on Monday, April 4, measures a central bank's level of maturity in deploying its own digital currency. The report also included an overview of stablecoins for the first time.Haydn Jones, Blockchain and Crypto Specialist at PwC U.K. stated in the report that “over 80%....
The thinktank looked at the interplay of performance, security and privacy in possible CBDC designs and made recommendations for optimizing it. The U.S. thinktank Atlantic Council released a report Wednesday on cybersecurity issues related to central bank digital currencies (CBDC). The authors provide a generalized discussion of CBDC security, but with a clear focus on the United States and issues specific to it.They determined that the security risks presented by a CBDC depend heavily on its design, with performance, security and privacy being balanced variously in different designs. The....
The Club For Growth published a report exploring the shortcomings of a CBDC while detailing how the technology could fail in providing purported benefits.
The Bank of Israel has experimented with using Ethereum and nonfungible tokens for a pilot as part of its ongoing digital shekel research, a local report claims. Israel's central bank has allegedly completed a pilot — under the radar — for a central bank digital currency (CBDC) using Ethereum's technology. The claim was made by the Israeli financial news site Globes and later reported by BNN Bloomberg.Globes' sources for its claims are not disclosed: the report alleged that the Bank of Israel (BOI) completed its pilot in an experimental, closed environment based on Ethereum's architecture,....