The Central Bank of China has announced that its digital currency can now be said to be ready. In a major event, the China forum as reported by local news site Shanghai Securities News on August 10, the deputy director of the People’s Bank of China (PBoC) Mu Changchun stated that over five years of … Continue reading People’s Bank of China Announces Its Digital Currency is Ready
Bitcoin’s dominance is up by 1% (68.6%), the total market cap is down by 3.9% ($296bn)‚ and overall volume is down by 20% ($48bn) on the previous week. Bitcoin is down by 2.2%, Ethereum by 7.9%, XRP is down by 7.6%, and Litecoin by 10.8%. The best performers among the top-30 crypto were Binance Coin … Continue reading Digital Assets Market Update 12 August 2019
Libra, the new cryptocurrency by social media giant Facebook, has generated controversy with lawmakers and regulators globally since its announcement in June of this year. Concerns were mostly revolved around the stablecoin potentially disrupting the global financial system. The scrutiny towards Facebook aims at the fear that the new digital currency could possibly take power away from … Continue reading What Global Regulators Think of Libra: The Asia Pacific Edition
The Chinese central bank, People’s Bank of China’s (PBoC) Digital Currency Research Institute, has signed an agreement with multinational telecommunications giant Huawei. Fan Yifei, the PBoC deputy governor signed the fintech research cooperation agreement between Huawei and PBoC’s Digital Currency Research Institute in Shenzhen at Huawei’s headquarters. Huawei said that the “strategic cooperation” agreement is for FinTech research. Fan also … Continue reading China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei
Mu Changchun, the Director-General of the Institute of Digital Currency of China’s central bank, People’s Bank of China, spoke at one of the panels at the Singapore Fintech Festival held at the Singapore Expo on Nov. 12 regarding the future of digital currencies. Mu made a comment regarding China’s central bank digital currency (CBDC), also … Continue reading China’s Central Bank’s DCEP is Trying to Make WeChat Pay and Alipay Redundant
The Singapore Fintech Festival gathered even more blockchain professionals on Day 2 of the event, kicking off with representatives of tech giants including Intel, Microsoft, and Nasdaq sharing insights on navigating the impending economic slowdown and global uncertainty regarding the global access to data. A noteworthy panel followed on the topic of “defining the future … Continue reading Crypto Leaders Discuss Libra, China's CBDC and a Cashless Future at the Singapore Fintech Festival
The European Central Bank Report on CBDCs The European Central Bank has recently developed an “anonymity voucher” to safeguard potential central bank digital currency (CBDC) users’ privacy for low-value retail transactions while ensuring that high-value transfers are subject to anti-money laundering (AML) approvals. The new concept provided by the ECB aims to solve the issue of anonymity in digital … Continue reading Recap on 2019: What Does the World Think of Central Bank Digital Currencies?
With the novel coronavirus infecting more than 75,000 people around the world, and with the majority of the Chinese population in the Hubei province infected, authorities in the nation decided to track everyone who bought fever medicine in the province. Provincial officials have taken measures to grasp tighter measures to better control the outbreak, as the situation … Continue reading WeChat Pay and Alipay May Have Helped China to Track Coronavirus Victims Through Digital Payments
The World Health Organization (WHO) has recently stated that the coronavirus pandemic is “accelerating,” as 20% of the world’s population goes into lockdown in an attempt to curb the spread of the virus. People are told to stay at home as the world is entering a critical week, with over 381,761 cases confirmed around the … Continue reading Coronavirus Tracking and Surveillance May Have Consequences for the Protection of Personal Data Privacy
The issuance of central bank digital currencies (CBDCs) has been gaining traction as various nations have shown interest. The People’s Bank of China (PBoC), China’s central bank, has finished the development of a CBDC’s basic function and relevant laws are being drafted to set the ball rolling for its circulation. China seeks to be at … Continue reading The Issuance of China's CBDC On The Horizon, According to Insiders