TL;DR Breakdown CBN announces plan to launch CBDC Other African countries working on a CBDC The Central Bank of Nigeria has announced that it would be launching a Central Bank Digital Currency (CBDC) before the end of 2021. According to local reports, the Director, Information Technology Department, Mrs. Rakiyat Mohammed, announced at the banker’s committee […]
TL;DR Breakdown France, Switzerland to trial cross-border CBDC Digital Yuan, inspiration behind project? Switzerland, France says project doesn’t mean a CBDC is in sight The Bank of France and the Swiss National Bank, the apex bank of both France and Switzerland, are currently working on an experimental cross-border CBDC (Center Bank Digital Currency), dubbed “Project […]
TL;DR Breakdown A report titled “The international role of the Euro” was released by the European Central Bank. It discussed how certain countries with no CBDC plans are at risk. There are plenty of fears of banks when it comes to crypto. The possibility of waking up to new rules imposed by banks on their […]
TL;DR Breakdown Bank of Canada CBDC to rely on renewable energy sources Move to make renewable energy the source of power for mining crypto Timothy Lane, the Deputy Governor of the Bank of Canada, has said that eventually when the country’s Central Bank Digital Currency (CBDC) launches it would be more environmentally friendly than Bitcoin […]
TL;DR Breakdown EIU’s report on how COVID made CBDC more attractive Short history on the evolution of money Data behind virtual currencies Economist Intelligence Unit (EIU) has completed a report commissioned by revealing that the COVID-19 pandemic spurred the recent growth in acceptance of digital currencies. Per the report, people have increasingly adopted cashless […]
TL;DR Breakdown Russia to begin CBDC trial 2022 Other countries and their CBDC Elvira Nabiullina, the Head of Russian Central Bank, has confirmed that the digital ruble would be ready for trial next year (2022), Walter Bloomberg reports. This is coming after previously announcing that they would start testing the Central Bank Digital Currency (CBDC) […]
TL;DR Breakdown Bahamas gets residents to sign-up for CBDC The edge sand dollar has over digital yuan John Rolle, Governor of the Central Bank of the Bahamas, has said that the country has continued to push for a national digital currency (Bahamas CBDC) adoption this summer. For now, the governor notes that the goal is […]
TL;DR Breakdown Zhao warns US CBDC may fail US set to begin CBDC trial Binance CEO Changpeng Zhao has sounded a note of caution ahead of the conduct of Central Bank Digital Currency, CBDC trials in the United States. Zhao lashed out his warning in a Bloomberg interview on Monday. He explained that central bank […]
TL;DR Breakdown England Central Bank to hire CBDC experts Other countries and their CBDC The Bank of England, like many other countries, have joined the burgeoning Central Bank Digital Currency (CBDC) trend. The Bank of England, this time, rolled out an application to hire a team dedicated to the exploration of CBDC. The job advert […]
TL;DR Breakdown The UK government is set to research a potential CBDC, together with the Bank of England. An exploratory taskforce for CBDC is being launched between BoW and the UK Treasury The United Kingdom has become the latest developed nation to announce interest in exploring a potential central bank digital currency, which might be […]