DFC

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Korea's big blockchain Klaytn eyes CBDC, partners with ConsenSys
Korea's big blockchain Klaytn eyes CBDC, partners with ConsenSys
Korean public blockchain Klaytn announced it has partnered with Ethereum developer ConsenSys to advance its central bank digital currency (CBDC) efforts. Klaytn was founded by Ground X, a subsidiary of Kakao, which operates Korea’s largest social network of over 50 million users. Last October, the Bank of Korea acknowledged it was discussing central bank digital won with Klaytn amongst other private players.
#Fintech#CryptoAssets#CBDC#Ethereum#DFC
·ledgerinsights.com·
Korea's big blockchain Klaytn eyes CBDC, partners with ConsenSys
Ant Group and Tencent work with China's central bank to push forward digital yuan
Ant Group and Tencent work with China's central bank to push forward digital yuan
The Digital Currency Research Institute of the People's Bank of China (PBOC) reportedly signed a technical strategic cooperation agreement with Ant Group to move forward with the development of the digital yuan based on Ant Group's database, Ocean Base, and the mobile development platform, mPaaS. Tencent is also supporting and participating in digital yuan design, research, development and operational work.
#Fintech#CryptoAssets#CBDC#China#DFC
·globaltimes.cn·
Ant Group and Tencent work with China's central bank to push forward digital yuan
The Governance of the CBDC System
The Governance of the CBDC System
"Isn’t decentralization going to put Central Banks’ control of their digital currencies at risk? The answer to this question is no, if the correct design choices of the CBDC governance are put in place. The thing is, only advanced next-gen blockchain technology can support these design features. Under these conditions, the case can be made that the control of the CBDC system, the monitoring capabilities of a Central Bank, as well as the flexibility of policy implementation are even increased by a blockchain based approach."
#Fintech#CryptoAssets#CBDC#DFC
·algorand.com·
The Governance of the CBDC System
What triggers consumer adoption of CBDC?
What triggers consumer adoption of CBDC?
This De Nederlansche Bank surveyed a representative panel of Dutch consumers to determine public preferences regarding central bank digital currency (CBDC) demand. It found that roughly half would open a CBDC current or savings account, suggesting that consumers perceive CBDC as distinct from current and savings accounts offered by traditional banks. Intended adoption is positively related to respondents’ knowledge of CBDC and trust in banks and in the central bank, but the amount respondents want to deposit in the CBDC savings account depends on the interest rate offered. Furthermore, intended usage of the CBDC current account is highest among people who find privacy and security important and among consumers with low trust in banks in general.
#Fintech#CryptoAssets#CBDC#DFC
·dnb.nl·
What triggers consumer adoption of CBDC?
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
"In the specific case of a currency engineered for customizable demurrage, pernicious applications come to mind immediately. The extent to which those are realizable, however, pivots upon a degree of theorizing as to how “targetable” the programmed change of purchasing power will be. (Because such a system will ultimately require the elimination of cash to be fully effective, the warnings associated with a closely-related unconventional monetary policy, negative interest rates, apply here as well.)"
#Fintech#CryptoAssets#CBDC#Gesell#DFC
·aier.org·
Make No Mistake: Programmable Digital Currencies Are Weaponizable Money
Bank of Jamaica launches a contest to name its CBDC
Bank of Jamaica launches a contest to name its CBDC
The Bank of Jamaica seeks interested persons to propose a suitable name, tagline, logo and image for its new central bank digital currency (CBDC). "The logo and representative design should be distinctive, attractive, and adequately represent the CBDC as a safe and convenient digital alternative to cash."
#Fintech#CryptoAssets#CBDC#DFC
·boj.org.jm·
Bank of Jamaica launches a contest to name its CBDC
Multi-CBDCs: Designing a digital currency stack for governability
Multi-CBDCs: Designing a digital currency stack for governability
m-CBDC arrangements are most effective and efficient if the multiple CBDCs are hosted on the same infrastructure and platform. But this runs into a significant governance challenge: some central banks will be unwilling to share their CBDC infrastructure with certain other central banks, and some central banks may not be willing to share their infrastructure with anyone at all. One possible solution would be to “unbundle” the digital currency stack to improve governability of m-CBDC networks and create a viable path towards making m-CBDC arrangements a reality. This article will briefly explore the concept of a digital currency stack, with the aim of encouraging further discussion, collaboration and co-creation.
#Fintech#CryptoAssets#CBDC#CrossBorder#DFC
·opennodes.com·
Multi-CBDCs: Designing a digital currency stack for governability
EIB issues its first ever digital bond on a public blockchain
EIB issues its first ever digital bond on a public blockchain
As reported a few days ago, the European Investment Bank (EIB) launched a €100 million digital bond issuance on an Ethereum-based public blockchain platform. The EIB has now confirmed that it paid the three underwriters (Goldman Sachs, Santander and Societe Generale) using Banque de France-issued wholesale central bank digital currency (CBDC). Societe Generale – FORGE provided the end-to-end services to issue and manage the digital-native security tokens.
#Fintech#Blockchain#Settlement#CBDC#DFC
·eib.org·
EIB issues its first ever digital bond on a public blockchain
National Bank of Georgia Considering Launching a Retail Digital Gel
National Bank of Georgia Considering Launching a Retail Digital Gel
The National Bank of Georgia (NBG) is considering launching a digital version of its national currency, the Lari (Gel). The NBG will use its Open Regulatory Framework tools, to facilitate the retail central bank digtital currency (CBDC) development process. Rapid live testing in a controlled environment should enable the agile development of CBDC technology and an impetus to develop underlying technology to full potential, enhancing risk management and user experience. Interaction with the RegLab should also help NBG to develop its regulatory approach and update legal framework to enable smooth and sustainable CBDC technology operation.
#Fintech#CryptoAssets#CBDC#DFC
·nbg.gov.ge·
National Bank of Georgia Considering Launching a Retail Digital Gel
Principles for CBDC Technical Implementation
Principles for CBDC Technical Implementation
This paper from Digital Asset Holdings co-written by Stanford University's Darrell Duffie provides a high level overview of some central bank digital currency (CBDC) principles and key factors supporting them that should be considered when choosing and implementing a suppporting technology. The challenge of creating and implementing CBDC is large and complex, requiring addressing current challenges, while facilitating future innovation and support yet-to-be known requirements and opportunities. The ability to start small, facilitate wide adoption, evidence controls, and maintain flexibility to maximize growth are essential. The paper particularly emphasizes the key requirements of privacy protection and interoperability.
#Fintech#CryptoAssets#CBDC#DFC
·darrellduffie.com·
Principles for CBDC Technical Implementation
Project New Dawn: A Digital Cash Infrastructure for All
Project New Dawn: A Digital Cash Infrastructure for All
EMTECH-spearheaded Project New Dawn (PND) is a technical implementation of a retail central bank digital currency (CBDC) that runs on an Ethereum-based platform. PND is also working with the Hedera Hashgraph Network, to develop further understanding how to use interoperability to provide trust in the private sector part of the two-tiered CBDC network. https://futuremtech.com/central-bank-digital-cash/
#Fintech#CryptoAssets#CBDC#Hashgraph#Ethereum#Hedera#DFC
·projectnewdawn.info·
Project New Dawn: A Digital Cash Infrastructure for All
Bank runs and central bank digital currency
Bank runs and central bank digital currency
This historical study shows that the bank run risk associated with central bank digital currency (CBDC) is quite real, but it can be mitigated with holding limits. The study looked back to the Great Depression of 1930-1931, when French savers had a safe alternative to banks in the form of government-backed savings institutions (caisses d’épargne ordinaires, or CEOs). CEOs were not allowed to lend nor to provide payment services - they were effectively a source of funds for the government. Interest rates paid on CEO deposits were regularly higher than those paid by commercial banks to their depositors, and perversely, in March 1931, the limits on CEO deposits was increased from 12,000 to 20,000 francs for individuals and 50,000 to 100,000 for firms. Not surprisingly there were bank runs that the study suggests explaned one-third of the drop in real GDP in 1930-31.
#Fintech#CryptoAssets#CBDC#DFC
·voxeu.org·
Bank runs and central bank digital currency
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
The Digital Dollar Project (DDP) will launch at least five pilot programs over the next 12 months with interested stakeholders and DDP participants to measure the value of and inform the future design of a U.S. central bank digital currency (CBDC), or “digital dollar.” The selection process is already underway, with the first three to be announced within the next two months. The DDP intends to make its CBDC test ground transparent and accessible to all stakeholders, public and private.
#Fintech#CryptoAssets#CBDC#DFC
·newsroom.accenture.com·
Digital Dollar Project to Launch Pilots to Explore CBDC Designs and Uses
Kazakhstan Digital Tenge (CBDC) Pilot Project
Kazakhstan Digital Tenge (CBDC) Pilot Project
The National Bank of the Republic of Kazakhstan plans to conduct a comprehensive study of the benefits and risks of issuing retail central bank digital currency (CBDC). It will start with the definition of the tasks solved by the digital currency, the method of its emission and distribution, the technology used, the impact on monetary policy, financial stability and the payment ecosystem.
#Fintech#CryptoAssets#CBDC#DFC
·nationalbank.kz·
Kazakhstan Digital Tenge (CBDC) Pilot Project
Central Bank of Azerbaijan and VISA sign strategic cooperation agreement
Central Bank of Azerbaijan and VISA sign strategic cooperation agreement
The Central Bank of Azerbaijan and VISA signed an agreement on strategic cooperation to expand digital payments in Azerbaijan. The new strategic agreement will accelerate the development of non-cash payments in the Azerbaijani market, the introduction of innovative payment solutions, as well as through mobile devices, as well as the implementation of initiatives to expand financial literacy and inclusiveness.
#Fintech#Payments#CBDC#DFC
·cbar.az·
Central Bank of Azerbaijan and VISA sign strategic cooperation agreement
China's Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning
China's Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning
A new smart card that features biometrics specifically designed to work with the People's Bank of China (PBOC) digital currency/ electronic payment (DC/EP) central bank digital currency (CBDC), is reportedly being created. Smart card maker Chutian Dragon is reportedly working with IDEX Biometrics, a Norwegian provider of advanced fingerprint identification and authentication solutions, on a new card-based DC/EP digital wallet solution for the DC/EP.
#Fintech#CryptoAssets#CBDC#China#Biometric#DFC
·news.bitcoin.com·
China's Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning
Bank of Israel opens public consultation on digital shekel
Bank of Israel opens public consultation on digital shekel
The Bank of Israel has decided to accelerate its research and preparations for a possible future launch of a digital currency. A steering committee set up by the bank has issued a report outling the potential benefits, a draft model and issues to examine, accompanied by a public call for responses. The draft model envisages a two-tier framework in which the central bank provides digital shekels to private sector payments providers who would then act as the interface to the general public. https://www.boi.org.il/en/NewsAndPublications/PressReleases/Pages/11-5-21.aspx
#Fintech#CryptoAssets#CBDC#DFC
·finextra.com·
Bank of Israel opens public consultation on digital shekel
China’s Much-Hyped Digital Yuan Fails to Impress Early Users
China’s Much-Hyped Digital Yuan Fails to Impress Early Users
Shenzhen digital yuan trial participants interviewed by Bloomberg showed little interest in switching from AliPay or TenPay, some balking at the possibility a digital yuan might give authorities easier access to real-time data on their financial lives. Some merchants may also be wary of their transactions flowing directly into a government database to help police tax collection compliance. The People's Bank of China has tried to quell those concerns by making the digital yuan free to use for merchants and by pledging that most payments will remain anonymous.
#Fintech#CryptoAssets#CBDC#China#DFC
·bloomberg.com·
China’s Much-Hyped Digital Yuan Fails to Impress Early Users
Central Bank of Bahrain, Bank ABC and J.P. Morgan announce Digital Currency Settlement Collaboration
Central Bank of Bahrain, Bank ABC and J.P. Morgan announce Digital Currency Settlement Collaboration
The Central Bank of Bahrain (CBB) is collaborating with J P Morgan and Bank ABC in a pilot scheme to introduce instantaneous cross border payment solution leveraging state of the art technology and digital currency. Bank ABC and J.P. Morgan will pilot the transfer of funds from and to the Kingdom of Bahrain in US-Dollars for payments from buyers to suppliers. The CBB will act as a close partner in the pilot and going forward would look to extend the collaboration to central bank digital currencies (CBDCs).
#Fintech#CryptoAssets#CBDC#CrossBorder#Payments#DFC
·cbb.gov.bh·
Central Bank of Bahrain, Bank ABC and J.P. Morgan announce Digital Currency Settlement Collaboration
Exploring central bank digital currencies: SWIFT and Accenture publish joint paper
Exploring central bank digital currencies: SWIFT and Accenture publish joint paper
A joint paper from SWIFT and Accenture looks at the CBDC opportunities and challenges for international payments, sets out practical requirements for the adoption of CBDC at scale, and outlines how SWIFT can support the financial community as new solutions are developed. SWIFT is planning a host of trials over the next few months to test how its platform could interact with the cross-border use of CBDCs.
#Fintech#CryptoAssets#CBDC#CrossBorder#DFC
·swift.com·
Exploring central bank digital currencies: SWIFT and Accenture publish joint paper
Hong Kong Looks to Expand Cross-Border Tests of Digital Yuan
Hong Kong Looks to Expand Cross-Border Tests of Digital Yuan
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) recently tested cross-border digital yuan (e-CNY) transactions, involving a PBOC-designated bank, as well as merchants and bank staff. Following up on that, the HKMA is “discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.
#Fintech#CryptoAssets#CBDC#China#DFC
·bloomberg.com·
Hong Kong Looks to Expand Cross-Border Tests of Digital Yuan
ExtoPay Offline Wallet
ExtoPay Offline Wallet
"ExtoPay extends the reach of mobile payment, digital banking, and cross-border payment service providers in emerging markets to 1.5 B users who don't have mobile connectivity. ExtoPay combines the low cost and secure ExtoWallet Biometric Smart Cards provisioned with Distributed Ledger Technologies to support offline Bluetooth based card-to-card or card-to-phone payments. ExtoPay supports fiat, CBDC, and Cryptocurrency payments using a patent-pending Intermittent Network Architecture. This system addresses the recovery of funds due to lost or damaged cards and protects against counterfeit card attacks. "
#Fintech#CryptoAssets#CBDC#Offline#DFC
·extolab.com·
ExtoPay Offline Wallet
US Fed Will Publish a Report On Central Bank Digital Currency In Summer
US Fed Will Publish a Report On Central Bank Digital Currency In Summer
The US Federal Reserve plans to publish this summer a discussion paper that will explore the implications of fast-evolving technology for digital payments, with a particular focus on the possibility of issuing a U.S. central bank digital currency (CBDC). The paper will complement Federal Reserve System research that is already underway.
#Fintech#CryptoAssets#CBDC#DFC
·federalreserve.gov·
US Fed Will Publish a Report On Central Bank Digital Currency In Summer
BC presents guidelines for the potential development of the real in digital format
BC presents guidelines for the potential development of the real in digital format

Banco Central do Brasil guidelines for the potential development of the digital real Banco Central do Brasil published its guidelines for the potential issuance of reatil central bank digital currency (CBDC). The project will focus on an unrenumerated digital real that will operate on a two-tier business model, with an eye towards cross-border interoperability and integration.

#Fintech#CryptoAssets#CBDC#DFC
·bcb.gov.br·
BC presents guidelines for the potential development of the real in digital format