Australia’s Central Bank is Studying Blockchain Technology
A newly published assessment of the Reserve Bank of Australia’s take on the current financial system has revealed multiple endeavors by the central bank to study and develop blockchain solutions. The Reserve Bank of Australia’s report [PDF] on new developments on financial infrastructure has notably pointed to the establishment of a previously unknown ‘internal working group’ to consider the implications of blockchain technology. The Australian government has been pushing a FinTech-friendly agenda to encourage industry firms and startups to develop solutions in the country. The central....
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The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers.
Central Bank of Colombia Studies Digital Currency Issuance
Many governments in the world are preparing to launch digital currencies in order to compete with cryptocurrencies and other assets. Leonardo Villar, manager of the Central Bank of Colombia, recently....
In a significant endorsement of blockchain technology, bitcoin’s underlying innovation, the research arm of the Reserve Bank of India (RBI) – India’s central bank – has tested blockchain solutions for core banking processes in the country. More notably, researchers have determined that blockchain technology has “matured enough” to be the core technology to support the digitization of India’s fiat currency, the rupee. Established by the central bank, the Institute for Development & Research in Banking Technology (IDRBT) is the research arm of the RBI and the foremost banking research....
Despite the perceived hostility towards Bitcoin in Russia, the country’s central bank has just announced that it has officially established a new “work group” to study the digital currency’s underlying blockchain technology and its potential application in financial markets. In a press release issued by the Bank of Russia on February 28, the country’s....
Central bankers everywhere are looking wide-eyed at the underlying technology that powers the cryptocurrency Bitcoin. Now with the economic uncertainty brought on by the reality of Brexit, the Reserve Bank of India is preparing by studying blockchain technology and stashing forex reserves. Reserve Bank of India Notes Blockchain ‘Flexibility’. The Reserve....