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Understanding Central Bank Digital Currency
Understanding Central Bank Digital Currency
Launching a CBDC entails large risks as potential economic disruption could outweigh the desired, but mostly untested benefits. However, what is right for some developed economies may not be true for developing ones, where risks and benefits are inherently different.
#CryptoAssets#CBDC#Blog#DFC
·actuaries.org.uk·
Understanding Central Bank Digital Currency
The State of Stablecoins — Update 2018
The State of Stablecoins — Update 2018
"The volatility in stablecoins is not reported very much and seems to be overshadowed by overall crypto volatility. However, stablecoin volatility is the more interesting news. Crypto volatility is nothing new. I’ve talked before about how the decentralized stablecoins are badly designed. This year is demonstrating these problems."
#CryptoAssets#AltCoins#Stablecoins#DFC
·medium.com·
The State of Stablecoins — Update 2018
Japan’s Crypto Association issues ICO regulation recommendations » Brave New Coin
Japan’s Crypto Association issues ICO regulation recommendations » Brave New Coin
"The JCBA says there is a need to clarify whether security tokens, which are subject to the Financial Instruments and Exchange Act, fall under "Article 2 (1) Securities" or "Article 2 (2) Securities," and suggested the exclusion of security tokens from the Payment Services Act, in order to avoid duplicating regulatory requirements imposed by the Financial Instruments and Exchange Act and the Payment Services Act."
#CryptoAssets#ICOs#STOs#Stablecoins#Regulation#DFC
·bravenewcoin.com·
Japan’s Crypto Association issues ICO regulation recommendations » Brave New Coin
The future of money and payments
The future of money and payments
The BIS continues to sound warnings about CBDC. Aside from the run risk, they warn that CBDC could impact monetary policy implementation by changing the demand for base money and its composition in unpredictable ways, and possibly modifying the sensitivity of the demand for money to changes in interest rates. Also, CBDC could lead to a larger central bank balance sheet, which may require it to purchase additional assets, which could interfere with key markets functioning or dry up liquidity.
#CryptoAssets#CBDC#Blog#DFC
·bis.org·
The future of money and payments
The Case for Prepaid Debit Cards | AIER
The Case for Prepaid Debit Cards | AIER
"Like cash, a prepaid debit card is permissionless. Since anyone can buy a card, consumers need not get the approval of a bank to join the payments system. And since non-reloadable prepaid debit cards do not require giving up personal data, neither the bank, government, nor retailers can glean as much user information from a prepaid debit card transaction as they can from a regular one."
#Fintech#CBDC#Blog#DFC
·aier.org·
The Case for Prepaid Debit Cards | AIER
IBM World wire – the inevitable rise of Centralized Blockchains – Daily Fintech
IBM World wire – the inevitable rise of Centralized Blockchains – Daily Fintech
IBM World wire focuses on the cross-border payments market with enabled payment locations in 72 countries, 48 currencies and 44 banking endpoints. It supports Stellar Lumens and a USD based stablecoin – thanks to their work with Stronghold. The network will also support stablecoins issued by several of its consortium banks.
#CryptoAssets#Blockchain#CrossBorder#Stablecoins#Blog#DFC
·dailyfintech.com·
IBM World wire – the inevitable rise of Centralized Blockchains – Daily Fintech
MakerDAO CEO on How Dai's Soft Peg to $1 "Became Really Soft"
MakerDAO CEO on How Dai's Soft Peg to $1 "Became Really Soft"
"Since February, MKR holders have agreed on three different raises of Dai’s “stability fees,” which are essentially interest rates people have to pay for borrowing Dai. First came two separate fee hikes of 0.5 percent. When those didn’t work, the community enacted an additional 2.5 percent increase. That didn’t quite stabilize Dai either, so the MakerDAO community is currently debating adding another two percent to the coin’s borrowing rate."
#CryptoAssets#AltCoins#Stablecoins#Blog#DFC
·breakermag.com·
MakerDAO CEO on How Dai's Soft Peg to $1 "Became Really Soft"
MakerDAO Votes to Increase Fees 4% on Ethereum Stablecoin DAI - CoinDesk
MakerDAO Votes to Increase Fees 4% on Ethereum Stablecoin DAI - CoinDesk
"MakerDAO token holders have again voted to increase fees charged to those taking out programmatic loans on the blockchain through its U.S. dollar-backed ethereum stablecoin DAI. The fourth and largest fee hike to the DAI “Stability Fee,” users who take out loans with MakerDAO to generate new DAI will soon be required to pay a 7.5 percent fee when closing out the loan."
#CryptoAssets#AltCoins#Stablecoins#Blog#DFC
·coindesk.com·
MakerDAO Votes to Increase Fees 4% on Ethereum Stablecoin DAI - CoinDesk
John A Rolle: The Bahamian payment system modernisation - advancing financial inclusion initiatives
John A Rolle: The Bahamian payment system modernisation - advancing financial inclusion initiatives
The Central Bank of the Bahamas will impose a ceiling on how much of their CBDC can be maintained in mobile wallets. High volume use will require a pass-through flow of funds to personal bank accounts. The wallet’s integration with commercial banks or other licensed entities would be required in order for account holders to have access to foreign exchange services.
#CryptoAssets#AltCoins#CBDC#Blog#DFC
·bis.org·
John A Rolle: The Bahamian payment system modernisation - advancing financial inclusion initiatives
Riksbank reports positive feedback on second e-krona report - Central Banking
Riksbank reports positive feedback on second e-krona report - Central Banking
Sveriges Riksbank published positive feedback from 20 Swedish institutions and organizations on its 2nd e-krona report, including from the Finansinspektionen, the National Debt Office and the national tax agency. However, most entities called for a government inquiry; something the central bank has requested.
#CryptoAssets#AltCoins#CBDC#Blog#DFC
·centralbanking.com·
Riksbank reports positive feedback on second e-krona report - Central Banking
IBM Launches A Blockchain-Based Global Payments Network Using Stellar's Cryptocurrency
IBM Launches A Blockchain-Based Global Payments Network Using Stellar's Cryptocurrency
According to IBM, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified platform. Participants are also allowed to dynamically choose from a variety of digital assets for settlement. Currently, World Wire has enabled payment locations in 72 countries, with 48 currencies and 44 banking endpoints.
#Blog#AltCoins#Stablecoins#CryptoAssets#DFC
·forbes.com·
IBM Launches A Blockchain-Based Global Payments Network Using Stellar's Cryptocurrency
Bahamas to explore CBDC access to government securities - Central Banking
Bahamas to explore CBDC access to government securities - Central Banking
The Bahamas CBDC pilot is scheduled to be introduced in the remote Exuma district in 2020. The central bank is currently finalising the contractual onboarding of its chosen technology solutions provider, NZIA. Be cause the CBDC aims to complement and not replace existing banking services, the currency will not be interest-bearing. However, users may be able to invest in government securities via the CBDC wallet.
#CryptoAssets#AltCoins#CBDC#Blog#DFC
·centralbanking.com·
Bahamas to explore CBDC access to government securities - Central Banking
Banks Consider Following JPMorgan Into Digital Currency, IBM Says - Bloomberg
Banks Consider Following JPMorgan Into Digital Currency, IBM Says - Bloomberg
IBM said at least two major U.S. banks are considering whether to follow JPMorgan Chase & Co.’s lead in issuing a stablecoin. IBM said it is also working with six non-U.S. banks on digital currencies, including BNK Financial Group Inc.’s Busan Bank in South Korea, and in the Philippines, Rizal Commercial Banking Corp., which is expected to issue a stablecoin in the second quarter. The banks are awaiting approvals from regulators.
#AltCoins#Stablecoins#Blockchain#Blog#Stellar#Hyperledger#CrossBorder#CryptoAssets#DFC
·bloomberg.com·
Banks Consider Following JPMorgan Into Digital Currency, IBM Says - Bloomberg
IBM launches challenge to Ripple and Swift | American Banker
IBM launches challenge to Ripple and Swift | American Banker
The choice of Stellar is a bit surprising given that IBM has been working with the Linux Foundation on Hyperledger Fabric for years. But Hyperledger Fabric is permissioned, private distributed-ledger technology. IBM wanted something more open that any organization could join if it met certain criteria. In World Wire, IBM has created kind of a virtual private network within Stellar. Organizations can register assets and become part of the network, but IBM carefully vets each participant and validator. By contrast, Ripple says it does not know who runs the validator nodes on its distributed ledger. It's really about knowing the validators, but without creating this walled garden that you have to have special permission to join.
#AltCoins#Stablecoins#Blockchain#Blog#CryptoAssets#CrossBorder#Hyperledger#Stellar#DFC
·americanbanker.com·
IBM launches challenge to Ripple and Swift | American Banker
IBM Signs 6 Banks to Issue Stablecoins and Use Stellar's XLM Cryptocurrency - CoinDesk
IBM Signs 6 Banks to Issue Stablecoins and Use Stellar's XLM Cryptocurrency - CoinDesk
Six international banks have signed letters of intent to issue fiat-backed stablecoins on World Wire, an IBM payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders more quickly and cheaply than the legacy correspondent banking system.
#Blog#CryptoAssets#Stablecoins#AltCoins#CrossBorder#Blockchain#Hyperledger#Stellar#DFC
·coindesk.com·
IBM Signs 6 Banks to Issue Stablecoins and Use Stellar's XLM Cryptocurrency - CoinDesk
Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
The Everex eTHB stablecoin is equivalent to one Thai Baht and powered by Ethereum smart contracts. It is the main component of the Everex Wallet application, which allows users to deposit, send, receive and withdraw cash or transfer funds to a bank account in a number of DFC stablecoins representing different national currencies.
#AltCoins#CryptoAssets#Blog#Stablecoins#DFC
·blog.everex.io·
Stablecoins As An Evolution Of Money For A Digitized World And The Place Of Everex In It
UK Access to Cash Review
UK Access to Cash Review
The UK Access to Cash Review Final Report calls for action now to ensure cash remains viable or risk leaving millions behind. The action plan includes a “Guarantee to Cash Access” for all, including those in remote and rural areas, and for those providing essential services to be required to allow consumers to pay by cash.
#CBDC#Blog#DFC
·accesstocash.org.uk·
UK Access to Cash Review
Central bank digital currencies and private banks
Central bank digital currencies and private banks
The introduction of an interest-bearing CBDC increases financial inclusion, and while it reduces monopoly profit, it need not disintermediate banks in any way. A CBDC may, in fact, lead to an expansion of bank deposits if the resulting competition compels banks to raise their deposit rates.
#Blog#CBDC#CryptoAssets#DFC
·voxeu.org·
Central bank digital currencies and private banks
Governor Antoine Addresses the ECCU Media on Launch of FinTech Pilot Project
Governor Antoine Addresses the ECCU Media on Launch of FinTech Pilot Project
The ECCB CBDC pilot involves a digital version of the EC dollar (DXCD) distributed by licensed ECCU financial institutions. The DXCD will be used for transactions between consumers and merchants, between people, all using smart devices. IBM Hyperledger Fabric was selected as the blockchain platform.
#Blog#AltCoins#CBDC#CryptoAssets#DFC
·eccb-centralbank.org·
Governor Antoine Addresses the ECCU Media on Launch of FinTech Pilot Project