China floats idea of ‘Asian yuan’ to reduce reliance on US dollar
Researchers from a Chinese state-run think tank have floated the idea of an Asia-wide digital currency with the aim to reduce its reliance on a United States dollar-based economy. The views of researchers Liu Dongmin, Song Shuang, and Zhou Xuezhi from a unit of the Chinese Academy of Social Sciences (CASS) were published in an […]
BIS marks CBDC pilot as ‘successful’ with $22M transacted
A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions. The central banks of Hong Kong, Thailand, China and the United Arab Emirates (UAE) took part in the pilot program along with […]
South Africa finishes technical PoC for wholesale CBDC settlement system
South Africa has taken another step closer to implementing its central bank digital currency (CBDC) as the South African Reserve Bank (SARB) concludes a technical proof-of-concept for the project. The project, titled Project Khokha 2 (PK2), is the second phase of SARB’s Project Khokha (PK1), launched in 2018. It experimented with distributed ledger technology (DLT) […]
Fed and MIT's CBDC research: Distributed Ledger tech has ‘downsides’
Theoretical research into a Central Bank Digital Currency (CBDC) in the U.S. has found that distributed ledger architecture has “downsides.” The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology published their findings of their initial research into a CBDC on Feb 3. The research project, dubbed “Project […]