The first digital token backed by the central bank will soon be launched in the eurozone. According to the Reuters report on 2 July, Lithuania will be the first eurozone nation to issue a digital central bank token. The report notes that 24,000 digital tokens, dubbed LBCOIN, based on the blockchain, will be issued within […]
central banks
Coronavirus Pandemic to Trigger CBDC Development Globally
The Bank of International Settlements (BIS) anticipates the effect of the coronavirus pandemic on retail payments to trigger positive development of CBDC globally. BIS is a Swiss-based international organization comprised of 60 central banks. The organization has released several reports centered on decentralization, cryptocurrencies, and central bank digital currencies (CBDC). CBDCs refer to state-issued cryptocurrencies, […]
China’s Digital Currency Project Lessons to the Entire World
[wp-rss-aggregator] China’s digital currency may not conquer the present financial ecosystem which has already been controlled by the United States dollar, however, the central bank digital currency (CBDC) project is a good foundation for world economies to build on. Back in March, the Peoples Bank poof China (PBoC) launched the testing phase for its state-issued […]
The French Bank is Planning an Experimental Program on Central Bank Digital Currency
Several countries have already begun or finished testing their Central Bank Digital Currencies across the world. The French Central Bank has recently revealed that it is looking to test the CBDC for inter-bank settlements. The Central Bank has invited all interested parties to submit their applications. According to a document published by the Bank of […]
Bank of International Settlements to Approach G20 Members to Back New Cryptocurrency Roadmap
The cryptocurrency market has always been the subject of speculation and the concept of trust has been very difficult to establish. This has forced many institutions within the space to work together and come up with solutions. According to recent reports, the Bank of International Settlements [ BIS ] is planning to submit a Cryptocurrency […]