News
Kazakhstan says it will double its digital currency mining investment at the end of this year, and is eyeing a CBDC.
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Digital Currency News
Digital currency is a type of currency that has no physical form and only exists in digital form. Digital currencies include virtual money and cryptocurrency. This digital money may be used as traditional money to buy and sell goods, but with the allowance of instant transactions and borderless transfer-of-ownership. Digital money can be restricted to a certain community or be fully free for anyone to use. Digital money can also be decentralized or have a central authority over an emission process, can be backed by other currency or liquid asset, or work without any backing. Investing in digital currency has become very popular after the explosion of cryptocurrencies due to their volatility, which makes them a great speculation tool. Although digital currencies are useful and progressive, they are not yet widespread and most banks do not accept them.
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Experts from the Bank of Canada have released their thoughts on how a digital dollar should be available to all Canadians.
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A former senior official of the People’s Bank of China said that the country has completed the backend architecture development of its digital currency.
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Singapore’s central bank is looking to join forces with China in exploring central bank digital currencies.
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Joel Telpner reveals some of the steps the Marshall Islands is taking to launch its national digital currency.
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Could Bitcoin, the world's "digital gold," replace physical gold in the future?
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Digital currency solutions that directly face consumers will not be taken seriously by central banks, according to a Visa executive.
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European Central Bank executive board member Yves Mersch believes that the main impediment for CBDC is philosophical rather than technological.
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No central bank is currently working on a CBDC that can be used by consumers, according to blockchain firm R3.
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British payment startup Checkout.com has joined the Libra Association, becoming the 24th member committed to building a better global payment network.
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Hong Kong-based AI startup SenseTime partnered with PBoC’s digital currency research unit to continue the development of the digital yuan.
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A survey found twice as many people use central bank digital currencies than decentralized cryptocurrencies.
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Economist and academic John Vaz believes that Facebook’s Libra stablecoin is still shaping up to be Bitcoin’s strongest competition.
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The ongoing coronavirus pandemic accelerates central bank digital currency developments, according to Deutsche Bank macro strategist Marion Laboure.
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Amid growing concerns regarding the transmission of COVID-19, the Bank of International Settlements is pushing for digital currencies.
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