Tag: CBDC

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Jim Rickards Blasts US Congress Confiscation Initiatives: ‘The Drive to Create New Currencies Will Go Into Overdrive’

October 17, 2023

Renowned economist and best-selling author Jim Rickards has warned about the effects of a new U.S. congressional initiative that proposes confiscating Russian assets to reimburse itself for the aid given to Ukraine. Rickards believes that, if passed, this legislation will alert the international community about the need for creating new currencies. Jim Rickards Explains Confiscating…
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Dollar vs. Bitcoin Clash: Experts Flex Opposing Views; SBF Trial Update — Week in Review

October 15, 2023

Berkshire Hathaway’s Charlie Munger says most crypto is going to zero, while a Jefferies analyst says bitcoin is actually set to thrive in the case of a dollar collapse. Meanwhile, American economist Jeffrey Sachs says central bank digital currencies (CBDCs) are the real money of the near future. Get caught up on all this as…
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India’s Central Bank RBI Launches CBDC Pilot in Call Money Market

October 14, 2023

India’s central bank, the Reserve Bank of India (RBI), has initiated a pilot for a second use case of its wholesale central bank digital currency (CBDC), focusing on the call money market. The Indian central bank reportedly plans to expand its e-rupee testing to cover the entire wholesale segment, including asset tokenization and repo transactions.…
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China Opens Digital Yuan Park in Shenzhen

October 14, 2023

Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen to Invest $14 Million in 3 Years to Develop Digital Yuan…
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Mastercard Demonstrates New Solution for CBDC Tokenization

October 14, 2023

Mastercard says its new solution that enables central bank digital currencies (CBDCs) to be tokenized or wrapped onto different blockchains provides consumers with “a new option to participate in commerce across multiple blockchains with increased security and ease.” A Mastercard executive described: “As the digital economy continues to mature, Mastercard has seen demand from consumers…
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China’s FX Minister Suggests CBDC Programmability for Macroeconomic Management

October 13, 2023

An official from China’s foreign exchange regulatory body has suggested the potential use of “programmable features” within China’s Central Bank-Backed Digital Currency (CBDC) to bolster the effectiveness of monetary policy tools.  China, alongside several other nations, is diligently working on the development of CBDCs, digital tokens issued and regulated by central banks, although their widespread…
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China opens industrial park for digital yuan CBDC development in Shenzhen

October 12, 2023

The government is incentivizing new residents to come develop payment solutions, smart contracts, hard wallets and promotions for the digital yuan. China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC),…
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Japanese Firms to Use Digital Currency for Clean Energy Certificate Settlements

October 12, 2023

A consortium of Japanese firms is set to launch a yen-based digital currency, “DCJPY,” by July 2024, that will be used in transaction and settlement of clean energy certificates. Cryptocurrency exchange DeCurret revealed the issuance of a new digital currency today that will be used by various Japan-based firms for clean energy transactions…. Read More:…
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Russia Could Use Digital Ruble to Evade SWIFT, Wants Foreign Banks to Use its CBDC

October 12, 2023

Russia’s Central Bank thinks its digital ruble could let citizens pay abroad without making use of the SWIFT banking platform – and wants to let foreign banks use its CBDC. Per the Russian IT-focused media outlet CNews, the Central Bank has drafted a bill that, if passed, would allow foreign banks and credit institutions to…
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Was Chainlink’s (LINK) 35% rally just a buy rumor, sell the news event?

October 11, 2023

LINK outperformed most cryptocurrencies in September, but the recent correction raises questions on the sustainability of the bullish momentum. Since September, Chainlink (LINK) price has gained more than 25%, outperforming Bitcoin (BTC), Ethereum (ETH) and most altcoins. Currently, the project is the leading decentralized blockchain oracle solution and ranks 15th in terms of market capitalization…
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