New Zealand central bank releases issue paper on digital currency
The central bank of New Zealand has outlined the major benefits of CBDC designs based on blockchain technology. The Reserve Bank of New Zealand (RBNZ) published an issue paper providing its perspective on central bank digital currencies (CBDC).The paper outlines CBDC purposes, designs, as well as the potential benefits and associated risks. The bank will be seeking comments on the proposed paper until Dec. 6.The document focuses on a “general-purpose” CBDC that is a digital currency issued to “any individual or business that wants to use it.”“Such a ‘general-purpose’ CBDC would be closer....
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The central bank of New Zealand has lined up among monetary authorities exploring the question of issuing their own digital currencies. The financial regulator is now seeking feedback from the public about the need for a digital form of the national fiat while also promising to preserve cash.
New Zealand Central Bank Considers Risks and Benefits of CBDC
Reserve Bank of New Zealand (RBNZ) is now gathering input from the public on the potential use of a central bank digital currency (CBDC), Reuters reported following an announcement released by the bank on Thursday. Assuring that....
Important questions about CBDCs remain unanswered for the Kiwi's central bank. Financial authorities in New Zealand are in no hurry to issue a central bank digital currency, or CBDC, according to a central bank executive.Christian Hawkesby, assistant governor at the Reserve Bank of New Zealand, claimed that the country has “no imminent plans” to issue a CBDC.In a speech on Oct. 19, Hawkesby said that the bank remains open-minded about further progress in money and payment technologies and has actively engaged in CBDC research. He said:“To issue currency that meets the needs of the public,....
Representatives from the central banks of New Zealand and Australia have issued their own official warnings on bitcoin, terming the currency "interesting, but risky". The banks' comments come hot on the heels of the European Banking Authority's stance today. Both comments echo the public statement issued by Chinese authorities on 5th December, which led to the price of bitcoin falling by $300 on popular exchange Mt. Gox. New Zealand. John McDermott, assistant governor at the Reserve Bank of New Zealand (RBNZ), said banks and businesses should "tread very carefully" with the digital....
The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year, is “a digital version of traditional paper currency.” Indian Parliament Asks Government About ‘RBI Cryptocurrency’ The Indian ministry of finance answered some questions Tuesday in Rajya Sabha, India’s upper house of parliament, regarding “RBI....
A recent paper by two senior central bankers in Europe suggests that the technology underlying bitcoin could serve as the catalyst for change in the global money and payments infrastructure. Entitled "The Evolution of Central Banks: A Practitioner's Perspective" - and co-written by Bank of England chief economist Andrew G. Haldane and Jan F. Qvigstad, executive director of Norges Bank, Norway's central bank, the paper covers the evolution of central banking and the challenges that have arisen in the era of digitized monies. Perhaps most notably, the authors reject the idea that....