Former Bank of China vice president says digital currencies can be a substitute for cash on circulation. The former vice president of China’s central bank pushed for central bank digital currencies positioning it as a substitute for cash in circulation. Wang Yongli, former vice president of Bank of China and a director of the Haixia…
Read more
The crypto industry has the best historical moment to change the discourse about cryptocurrency and its reputation into a successful innovative tech sector. The COVID-19 pandemic has certainly accelerated the digitalization of economies across the globe, opening up discussions on the future of digital financial services and whether our economy should advocate for the financial…
Read more
The leaders in this week’s policy news focus on some case studies in power accumulation that more than anything show why decentralization tech matters. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note The concept of monopoly will reign in today’s Law Decoded.…
Read more
The Bank of Japan insists it has no immediate plans to issue a digital yen, but research into the potential of CBDCs continues apace. The Bank of Japan has appointed its top economist to lead a team tasked with accelerating its research into central bank digital currencies (CBDC). According to a July 31 Reuters report,…
Read more
Laundering money with Bitcoin is actually an ineffective strategy because of its complexity and high risk. There is no doubt that digital currencies provide benefits for an individual, a company and an institution by facilitating better access to financial products and services. Money laundering costs the global economy between $800 billion and $2 trillion annually,…
Read more
The governments of China and the U.S. frame digital currency as part of their great-power competition, but instead they should work on this technology together. Today, the relationship between China and the United States is one of escalating competition. On Oct. 23, 2019, Facebook CEO Mark Zuckerberg testified before the U.S. House Financial Services Committee…
Read more
Most experts do not view BSN’s split as being necessarily bad for the Chinese blockchain space. Launched in April 2020, China’s Blockchain Service Network was designed to serve as a hosting platform for small and medium-sized businesses as well as independent entrepreneurs alike. The network seeks to provide developers with a wide array of tools…
Read more
Jamaica’s central bank has invited technology solution providers to develop and test a potential CBDC. The Bank of Jamaica invited technology solution providers to develop and test potential central bank digital currency, or CBDC, solutions. According to a statement published July 17, interested companies have been requested to submit the details of their solutions to…
Read more
With a market cap over $10B, Tether isn’t likely to be displaced by any central bank digital currency according to Paolo Ardoino. Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether. “In the long…
Read more
The central bank of France is about to start several experimental trials centering the digital euro. Banque de France has picked eight potential candidates to test the integration of a CBDC for interbank settlements, according to the announcement published earlier today. The list of approved participants includes mainstream juggernauts like Accenture, HSBC, and Societe Generale,…
Read more
