New Zealand has no imminent plans to issue CBDC, says central bank exec
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,....
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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....
The Central Reserve Bank of Peru’s (BCRP) President, Julio Velarde, announced they are working on developing a CBDC in collaboration with other central banks around the globe. As the country experiences instability and inflation in goods and services, the central bank discusses financial models to fight the imminent crisis. Velarde shared during the business conference […]
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....
While a number of countries are working on central bank digital currencies (CBDCs), on Tuesday, the Bank of Jamaica (BoJ) announced it will soon be piloting a CBDC project. The BoJ is working with a firm called Ecurrency Mint Incorporated and plans to pilot the cryptocurrency in May. Jamaican CBDC to Pilot this May Jamaica, the island country situated in the Caribbean Sea has plans to pilot a CBDC this May as it has been working with an “extensive procurement process.” The country’s central bank, the BoJ, has chosen a technology provider to help with the CBDC solution.....
COVID-19 could force the Bank of Canada to launch a CBDC sooner than previously expected. Timothy Lane, Deputy Governor of the Bank of Canada and head of research at the bank’s fintech and crypto department, claimed that Canada’s central bank digital currency, or CBDC, might see the light of the day “sooner than expected. Lane delivered his remarks in a Dec. 1 interview on the Bank of Canada’s approach to digital payment systems.According to Lane, the predicted decline in COVID-19-fueled cash transactions has been happening more rapidly than the bank had previously expected. This could....