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BoE keeping ‘open mind’ on central bank digital currency – Carney - Central Banking
BoE keeping ‘open mind’ on central bank digital currency – Carney - Central Banking
"The governor stressed the central bank was taking the issue seriously, and has an “active research programme” looking into the feasibility of CBDC. Carney said there were “potential ways around” the drawbacks. All the same, the central bank is concentrating on its overhaul of the real-time gross settlement system as a means of improving the payment system in the short term, as well as offering reserve accounts to non-banks."
#CryptoAssets#CBDC#Blockchain#DFC
·centralbanking.com·
BoE keeping ‘open mind’ on central bank digital currency – Carney - Central Banking
Russia: Cryptoruble Coming 'Within 2-3 Years,' Gov't Official Says - Bitcoinist.com
Russia: Cryptoruble Coming 'Within 2-3 Years,' Gov't Official Says - Bitcoinist.com
Long under discussion, Russia wants to leverage the benefits of blockchain to provide a digital version of the ruble, Aksakov confirming its characteristics would “not differ” in practice from the fiat ruble. “The opinion is that this ruble will not differ in any way from the fiat ruble, except that it will exist on the Blockchain,” he told the publication.
#CryptoAssets#CBDC#AltCoins#alt#DFC
·bitcoinist.com·
Russia: Cryptoruble Coming 'Within 2-3 Years,' Gov't Official Says - Bitcoinist.com
UAE, Saudi Arabia start work on fintech for cross-border settlements
UAE, Saudi Arabia start work on fintech for cross-border settlements
The United Arab Emirates and Saudi Arabia have started using fintech for cross-border settlements, including a digital currency which they jointly developed for that purpose, the UAE’s central bank governor said on Wednesday.
#CBDC#DFC
·reuters.com·
UAE, Saudi Arabia start work on fintech for cross-border settlements
Get Neema
Get Neema

"Send money to your loved ones 24/7 from the comfort of your home and at low prices! Send money to over 200,000 cash pickup locations and banks worldwide."

#CryptoAssets#AltCoins#CBDC#DFC
·getneema.com·
Get Neema
Neema and the Republic of the Marshall Islands | Guidepost Solutions LLC
Neema and the Republic of the Marshall Islands | Guidepost Solutions LLC
"Guidepost Solutions advises financial technology company Neema on regulatory issues in connection with Neema’s development of SOV, a digital currency that has been approved as the official legal tender, i.e. fiat currency, of the Republic of the Marshall Islands.  Specifically, the Guidepost Solutions team supports Neema’s efforts to build into the SOV programming state-of-the-art controls to meet all Bank Secrecy Act and anti-money laundering requirements.  For this engagement, Guidepost Solutions registered with the U.S. Department of Justice as an agent of the Republic of the Marshall Islands."
#CryptoAssets#AltCoins#CBDC#SOV#DFC#Marshall_Islands
·guidepostsolutions.com·
Neema and the Republic of the Marshall Islands | Guidepost Solutions LLC
United Arab Emirates and Saudi Arabia Collaborate on New Cryptocurrency
United Arab Emirates and Saudi Arabia Collaborate on New Cryptocurrency
"The cryptocurrency “will be strictly targeted for banks at an experimental phase with the aim of better understanding the implications of blockchain technology and facilitating cross-border payments.” The joint cryptocurrency project will also research the effect of a central currency on financial policies. The initiative reportedly seeks to protect customer interest, create standards for technology, and consider the cybersecurity risks while determining the impact of central currencies on monetary policies."
#CryptoAssets#AltCoins#CBDC#DFC
·cointelegraph.com·
United Arab Emirates and Saudi Arabia Collaborate on New Cryptocurrency
Paytm, UPI, Visa may have new rivals as RBI mulls new norms — Quartz India
Paytm, UPI, Visa may have new rivals as RBI mulls new norms — Quartz India
"“The Reserve Bank had announced that it would encourage more players to participate in, and promote pan-India payment platforms…The objective is to minimise the concentration risk in the retail payments market, from a financial stability perspective and to give a fillip to innovation and competition,” it said. The RBI will be accepting comments from the public and the other stakeholders on the matter till Feb. 20."
#CBDC#Fintech#DFC
·qz.com·
Paytm, UPI, Visa may have new rivals as RBI mulls new norms — Quartz India
Iran Soon to Unveil Cryptocurrency With Aim to Skirt US and SWIFT: Source
Iran Soon to Unveil Cryptocurrency With Aim to Skirt US and SWIFT: Source
"Iran could unveil its state-backed cryptocurrency at the Electronic Banking and Payment Systems conference in Tehran this week, local English-language news outlet Al Jazeera reported on Jan. 27. Iran, which has faced fresh sanctions from the United States since November, had previously planned to use blockchain-based financial tools as a way of sidestepping restrictions on its economic growth."
#CryptoAssets#AltCoins#CBDC#DFC
·cointelegraph.com·
Iran Soon to Unveil Cryptocurrency With Aim to Skirt US and SWIFT: Source
Tangem To Produce Physical Blockchain Banknotes for the Marshall Islands' Digital Currency Legal Tender
Tangem To Produce Physical Blockchain Banknotes for the Marshall Islands' Digital Currency Legal Tender
"Each Tangem card will take the form of a unique physical banknote with secure blockchain-enabled microprocessor inside and combine the familiar advantages of paper banknotes with the security of blockchain technology. These protected notes will be fully transparent, 100% secure, decentralized, and represent a controllable mechanism of currency issuance and circulation for the state."
#CryptoAssets#AltCoins#CBDC#SOV#DFC#Marshall_Islands
·prnewswire.com·
Tangem To Produce Physical Blockchain Banknotes for the Marshall Islands' Digital Currency Legal Tender
Europe To Launch Financial Mechanism To Conduct Business In Iran
Europe To Launch Financial Mechanism To Conduct Business In Iran
"Germany, France, and Britain are set to launch a mechanism to allow financial flows to be sent to Iran that would not violate U.S. sanctions in an attempt to keep alive the landmark 2015 nuclear deal. The so-called special-purpose vehicle (SPV), expected to come into force on January 31, will help European firms with legitimate business interests to use barter techniques to conduct business in Iran."
#CBDC#DFC
·rferl.org·
Europe To Launch Financial Mechanism To Conduct Business In Iran
Who is Actually Going to Buy Iran's New Cryptocurrency?
Who is Actually Going to Buy Iran's New Cryptocurrency?
"Iran is creating a state-backed cryptocurrency. The options for the digital token are currently open. Reportedly, it’s initially only for crypto companies to do business with the Central Bank of Iran. Later, it will be used as a means to facilitate payments between Iran and other countries for goods and services. Iran was kicked off the SWIFT network last year, essentially disabling their ability to trade efficiently. In response, Russia and other partner nations announced they’re working on a SWIFT-alternative using the blockchain."
#CryptoAssets#AltCoins#CBDC#DFC
·ccn.com·
Who is Actually Going to Buy Iran's New Cryptocurrency?
The History of Money and the Future of Cryptocurrency
The History of Money and the Future of Cryptocurrency
Cryptocurrencies might appear to be a natural step in the evolution of money—from metal coins to paper notes to digital bits, with each step allowing for a more effective means of payment. However, as economic historian Barry Eichengreen argues in a recent NBER working paper, “there is no straight line from commodity money to fiat money and from there to crypto, nor from metallic currency to paper currency and from there to digital.” The history of money is replete with many strange episodes along the way.
#CryptoAssets#CBDC#DFC
·aier.org·
The History of Money and the Future of Cryptocurrency
From Commodity to Fiat and Now to Crypto: What Does History Tell Us?
From Commodity to Fiat and Now to Crypto: What Does History Tell Us?
Over time, there has been a tendency for political jurisdictions and residents to converge on a single currency. Monopoly over seigniorage is a source of political power and a valuable lifeline when sovereignty is threatened. Moreover a uniform currency, insofar as it is free of counterparty and liquidity risk, facilitates economic activity. But will digital currencies now reverse this trend toward uniformity, given the apparent ease with which they can be created? The information sensitivity of those units, evident in the fact that they trade at varying prices, suggests that they do not yet provide the core functions of money. So-called stable coins are intended to bridge this gap, but whether they can be successfully scaled up and maintain their stability is doubtful. The one unit that can clearly meet these challenges is central bank digital currency. But there would be both costs and benefits of moving in this direction.
#CryptoAssets#CBDC#DFC
·nber.org·
From Commodity to Fiat and Now to Crypto: What Does History Tell Us?
Iran launches gold-backed cryptocurrency 'PayMon'
Iran launches gold-backed cryptocurrency 'PayMon'
"The Islamic Republic of Iran has reportedly launched a gold-backed cryptocurrency called “PayMon” – the Persian word for covenant – in cooperation with four local banks and the Ghoghnoos Company, in a move made following international sanctions."
#CBDC#CryptoAssets#DFC
·theiranproject.com·
Iran launches gold-backed cryptocurrency 'PayMon'
Cashing In: How to Make Negative Interest Rates Work – IMF Blog
Cashing In: How to Make Negative Interest Rates Work – IMF Blog
"While a dual currency system challenges our preconceptions about money, countries could implement the idea with relatively small changes to central bank operating frameworks. In comparison to alternative proposals, it would have the advantage of completely freeing monetary policy from the zero lower bound. Its introduction would reconfirm the central bank’s commitment to the inflation target, rather than raise doubts about it."
#CBDC#DFC
·blogs.imf.org·
Cashing In: How to Make Negative Interest Rates Work – IMF Blog
IMF Staff Floats Dual Money to Allow Much Deeper Negative Rates - Bloomberg
IMF Staff Floats Dual Money to Allow Much Deeper Negative Rates - Bloomberg
"IMF economists Ruchir Agarwal and Signe Krogstrup said that dividing the monetary base into two separate currencies -- cash and electronic money -- could allow rates to be cut even deeper below zero. E-money would pay whatever the policy rate is and cash would have an exchange rate against the e-cash, they wrote."
#CBDC#DFC
·bloomberg.com·
IMF Staff Floats Dual Money to Allow Much Deeper Negative Rates - Bloomberg
A dual-currency system would make negative rates work – IMF research - Central Banking
A dual-currency system would make negative rates work – IMF research - Central Banking
"The creation of a dual-currency system would allow negative rates to become more effective in dealing with future recessions, says research published by the International Monetary Fund. The proposal would allow central banks to transmit monetary policy faster, and shorten recessions, overcoming the limitations imposed by the zero lower bound, say authors Katrin Assenmacher and Signe Krogstrup."
#CBDC#DFC
·centralbanking.com·
A dual-currency system would make negative rates work – IMF research - Central Banking
NJ Legislators Pass Bill To Ban Cashless Stores | PYMNTS.com
NJ Legislators Pass Bill To Ban Cashless Stores | PYMNTS.com
“Many people do not have access to consumer credit, and any effort by retail establishments to ban the use of cash would be discriminatory towards those people,” said Rep. Paul D. Moriarty, D-Camden/Gloucester and one of the bill’s main sponsors, according to Chain Store Age. “The U.S. dollar is legal tender and should be accepted at any retail establishment in New Jersey.”
#CBDC#CryptoAssets#DFC
·pymnts.com·
NJ Legislators Pass Bill To Ban Cashless Stores | PYMNTS.com