China's e-commerce giant will reportedly help develop apps that support the forthcoming digital renminbi.
Digital Currency News
For two decades, the digital currency paradigm was a largely fringe concept championed by cryptography advocates before the launch of the cryptocurrency Bitcoin (BTC) in 2008, which heralded a new technological and social phenomenon.
While the goal of cryptocurrencies is to provide a medium for global, peer-to-peer transaction settlement that preserves privacy and financial security, digital currencies more broadly encompass any digital form of money, including the more recent trend of central bank digital currencies, or CBDCs.
Currently in development in China and other countries, these digital currencies may leverage blockchain technology for secure payments but with added capital controls and surveillance practices in stark contrast with the ethos of cryptocurrencies.
The future of digital currencies is uncertain. Will CBDCs become the dominant form of digital cash adopted by the masses, or will people opt into a more open, secure, permissionless financial system in the form of Bitcoin and the crypto economy?
Before trying to apply blockchain to anything, think why.7428
The digital renminbi is legally compensatory to China’s fiat currency.24226
The wait for CBDCs continue.5497
The digital yuan will not unseat the U.S. dollar — at least not right away.11279
Foreign investors still doubt the PBoC's policies when it comes to the RMB exchange rate.5534
Details about the official launch date still remain murky.4031
China can reverse Bitcoin transactions, a Ripple exec said.11846
China’s central bank released a new statement to debunk some rumors.7634
China’s national blockchain project BSN could be the best fit for the digital yuan.11868
A former chief economist of the IMF said neither private digital currencies nor central bank digital currencies should hold a monopoly.4947
XRP contributes to the development of CBDCs and stablecoins, says key exec.18709
Thailand’s central bank assesses the chances of bringing centralized and decentralized together.5962
While there is not yet a set time for the expanded pilot program to begin, a policy framework should be complete by the end of 2020.4821
Fed Governor Lael Brainard shares updates about the U.S. digital currency initiative and why it is crucial to understand CBDCs.2756