Search Results for "central banks"
Six Central Banks Form Working Group to Assess Central Bank Digital Currencies
Six central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).
Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks
Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance.
Fed Chair Powell Asserts Money Supply is for Central Banks not Private Sector
Federal Reserve Chairman Jerome Powell asserted that the private sector has no place in money issuance and by extension the development of a Central Bank Digital Currency (CBDC).
Canada, Netherlands, Ukraine Central Banks Say Blockchain Not Necessary for CBDC
In a conference hosted by National Bank of Ukraine, some central banks recently suggested that blockchain is unnecessary for digital fiat currency
Bitcoin and Libra’s Ultimate Underlying Value to be Determined by Central Banks, says Ex-RBI Governor
Former Indian central bank governor said that Bitcoin and Libra could play a role in a world where central banks are issuing their own digital currencies.
Singapore’s Central Bank and JP Morgan Build a Blockchain System for Multi-currency Cross-Border Payments
Blockchain has been making headlines for quite some time now and banks have been widely talking about distributed ledger technology. Several financial institutions and banks have set up innovation labs to carry out proof of concepts so that to explore modern-day technology. A few days ago, Singapore’s Central Banks and JPMorgan announced that they are working on a blockchain pilot system, which is identified to have the potential to initiate multi-currency cross-border payments.
Bitcoin Trading Should Be Banned by Central Banks, Says Former British Member of Parliament
Former Member of the British Parliament Nick Boles appears to disfavour Bitcoin, saying that the central banks should monitor the cryptocurrency’s trades.
Five Russian Banks Ready to Lead Russia's CBDC Pilot Test
Five Russian Banks will participate in the pilot test for the Bank of Russia’s proposed Digital Rubble following the release of its public consultation report.
Central Banks Race to Adopt Fiat-Backed Cryptocurrencies
Cryptocurrency innovations are scrambling to get adoption across the world. However, there is also another race. Many nations are competing to become the first to adopt a central bank cryptocurrency. Let’s understand why central banks are scrambling to acquire fiat-backed cryptocurrencies.
Impending Central Bank Digital Currency: Data Shows Not All Central Banks Support the Move
The paradox of the situation is that banks with the capacity to push the world into the digital currency era are actually not showing much interest towards adoption; with the reason for their reluctance remaining a question with no answer.
Mainstream Adoption of DeFi and DLT Is Coming, It Will Replace Banks, Says US Currency Comptroller
The US acting Comptroller of the Currency disclosed that roles played by banks will soon change due to cryptocurrencies and decentralized finance (DeFi).
Reserve Bank of India Says Banks Are Authorized to Provide Accounts to Cryptocurrency Traders
The Reserve Bank of India recently responded to an information query, saying that Indian banks are not prohibited from dealing with crypto businesses.