The Big Choices When Designing Central Bank Digital Currencies
A retail CBDC or an indirect one? Synthetic? An API approach? How central banks implement digital currencies will have seismic implications.
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"Who’s gonna use the euro in its current form? There are gonna be so many choices" said ConsenSys South Africa lead Monica Singer. The European Central Bank will put itself in jeopardy if it waits around a digital euro too long, according to an executive at major cryptocurrency firm ConsenSys.ConsenSys South Africa lead Monica Singer joined in at the European Blockchain Convention to discuss the role of the private sector in shaping global central bank digital currencies, or CBDC. She spoke of CBDC-powered benefits and opportunities in a Monday panel with BNP Paribas CIB digital....
Fed Chair Jerome Powell said the U.S. central bank is currently running technical experiments on how a digital dollar would work. “There are many subtle and difficult policy choices and design choices that you have to make. We’re doing all that work.” He reiterated the process also requires consultation with the public and Congress before […]
The head of China’s central bank, the People’s bank of China (PBOC) has provided more details about the bank’s significant recent revelation. Less than a month ago, the PBOC announced that it will try to launch its own digital currency “as soon as possible.” In a wide-ranging interview with Caixin Weekly, PBOC governor Zhou XIaochuan provided more insight into the PBOC’s recent announcement of issuing its own yet-unnamed digital currency. The governor notes that China’s digital currency will be fundamentally based around central banking system principles. He opined that the central bank....
In this episode of Fed Watch, the hosts discuss the potential for a digital euro, central bank digital currencies and the "financial hurricane" that is ongoing The post Video: Digital Euro, Central Bank Digital Currencies And Bitcoin appeared first on Bitcoin Magazine.
The Central Bank of Brazil (Banco Central do Brasil) has issued a digital currency warning, joining the central banks of India, China and many other large economies across the globe in outlining risks associated with digital currencies. The Brazilian warning does not bring anything new to the table, it reads like similar statements issued by other national regulators over the past few months. The bank points out that digital currencies should not be confused with electronic money, as defined by Brazilian legislation. Unlike digital currencies, electronic money is governed by various....