As previously reported in this News section, central bank digital currencies are at the cutting edge of the struggle between the old system, of money and value exchange and the new. Our view was, and remains: “While CBDCs may be digital currencies… they are not cryptocurrencies. Cryptos have a money supply and validation run by […]
Central Bank Digital Currencies (CBDCs) are a key battle ground in the competition to dominate the world of digital money. Crowdfundinsider reports the G7 joint statement on innovation in digital money and central bank digital currencies. After Crowdfundinsider’s reporting, we add commentary of our own: To quote the G7: “G7 Central Banks have been exploring […]
There’s competition between “private” money generated by investment banks and Central Bank Digital Currencies, as pointed out in a recent speech by Sir Jon Cunliffe, head of the Bank of England’s CBDC project and a leading light in the Digital Money Institute. The full text of the speech is here. A report by Finextra is […]
Regular readers will be aware of this item, a regular in our News section. There’s a very strange kind of beauty contest going on amongst the world’s central bankers. The competition is on to produce a widely accepted digital currency. A central bank digital currency (CBDC) will not of course be a true cryptocurrency, as […]
The central banks are coming. Further to yesterday’s announcement of more preparatory moves for the Bank of England’s Britcoin, a central bank digital currency (CBDC), there’s more from China. The Chinese are far ahead in the CBDC area, and are actively trialling digital payment systems. Our friends at Crowdfund insider report: China is reportedly expanding […]
Welcome to a new week, with yet more news on the ever-changing Fintech sector. Although there’s a major announcement of investment in Fintech by Goldman Sachs, we think the most significant story of the day is the announcement on central bank digital currency (CBDC) from the Chancellor. Our friends at Finextra carry the detail: Chancellor […]
As part of our early-year focus on tokenisation and the game of catch-up being played by central banks to launch their own digital currencies (CBDCs) and related systems of regulation, we offer an excerpt from a news story by or friends at Finextra: An investigation into the use of multiple wholesale CBDCs for cross-border payments […]
Digital financial systems – “digital money” for want of a better phrase – will dominate the future, as we’ve regularly opined here in our News section. Close to 80 percent of the world’s central banks are either not allowed to issue a digital currency under their existing laws, or the legal framework is not clear, […]
As promised, more from the changing digital asset landscape. Tokens – the big “new” thing for 2021– and central bank digital currencies are leading the mainstream’s charge to catch up. Our friends at Finextra report: As part of an experimental programme led by the Banque de France, more than ten transactions on fund units, for […]
As we reported earlier this month, the nature of money is changing. Travellers’ cheques are already ancient history, cash is on the way out – and the way monetary systems are organised seem highly likely to be next. Here’s an extract from a report here a couple of weeks ago: It may not be the […]