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Fed Reserve Chair Says Central Bank Needs to Issue Digital Currency Right not First

According to Jerome Powell, the Federal Reserve Chair, the United States will not be cutting any corners with its potential central bank digital currency (CBDC) or digital dollar, choosing not to aim to do it first but do it right. During the panel discussion on Oct 19 at the annual meeting of the International Monetary Fund … Continue reading Fed Reserve Chair Says Central Bank Needs to Issue Digital Currency Right not First

Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development

The Hong Kong government is considering collaborating with the mainland Chinese authorities on the country’s central bank digital currency (CBDC) project. According to Hong Kong Treasury Secretary Christopher Hui, Hong Kong is most interested in wholesale and cross-border digital currency use cases. China’s digital yuan, mostly focusing on retail transactions, also known as the digital … Continue reading Hong Kong to “Seize the Opportunities” of China’s Digital Yuan CBDC Development

China's DCEP Will Not Compete With WeChat and AliPay

China’s central bank digital currency (CBDC) also known as the Digital Currency Electronic Payment (DCEP) will not compete with China’s digital payment giants WeChat and AliPay according to a prominent CBDC researcher.  The clarification was made by Mu Changchun, Head of the Central Bank’s Digital Currency Research Institute who noted that there is no basis for any competition … Continue reading China's DCEP Will Not Compete With WeChat and AliPay

PBoC Governor Yi Gang Reports $300 Million in Digital Yuan Pilot Transactions

China’s digital yuan pilot in four of its cities has recorded nearly $300 million in transactions according to the head of the People’s Bank of China. Yi Gang, Governor of the People’s Bank of China said that the digital yuan pilot program that has been rolled out in four major Chinese cities is making great … Continue reading PBoC Governor Yi Gang Reports $300 Million in Digital Yuan Pilot Transactions

Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event

As part of its continued efforts to launch its digital yuan dubbed the Digital Currency Electronic Payment (DCEP), China’s central bank is scheduled to test its central bank digital currency for the second time in Suzhou on December 12. The city located in Jiangsu Province of East China will play host to a shopping festival … Continue reading Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event

5 Reasons Bitcoin Hit $47K ATH and the BTC Price Surge Will Continue

Why is Bitcoin rising harder than ever before as BTC price pushes for $50,000 after exceeding $47,000 in a new all-time high? Here are five reasons for Bitcoin’s growing strength. The Bitcoin (BTC) price rose to new all-time highs and continues to climb to a new peak. According to the latest data from Coindesk, Bitcoin has skyrocketed by 20.51% in … Continue reading 5 Reasons Bitcoin Hit $47K ATH and the BTC Price Surge Will Continue

Greater Bay Area Blockchain Week 2021 to Bring Global Attention to Blockchain Innovation

A nearly week-long event of the GBA Blockchain Week 2021 will convene thousands of online viewers to the brightest spot on today’s global financial map. The event, including the core 2-day Virtual Summit, will be broadcasted globally and in China, showcasing cutting-edge technologies and its most exciting case studies. Conference agenda will revolve around a … Continue reading Greater Bay Area Blockchain Week 2021 to Bring Global Attention to Blockchain Innovation

ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance

European Central Bank (ECB) President Christine Lagarde said that a decision on whether or not to launch a CBDC will be made by the middle of this year. However, after deciding whether or not to go forward with a digital Euro issuance, the actual development of the central bank digital currency (CBDC) will take at … Continue reading ECB to Announce by Mid-2021 Whether It Will Move Forward with CBDC Issuance

China's Digital Yuan to be Made Available to Visitors During 2022 Beijing Winter Olympics

The People’s Bank of China (PBoC) has confirmed plans to make its Digital Currency Electronic Payment (DCEP) system available to foreign athletes and visitors at the Beijing Winter Olympics in 2022. Per to a CNN report, Li Bo, a deputy governor of the People’s Bank of China, affirmed this while speaking at China’s Boao Forum … Continue reading China's Digital Yuan to be Made Available to Visitors During 2022 Beijing Winter Olympics

Top Chinese State-Owned Banks Promote Digital Yuan Ahead of Shanghai 'Shopping Festival'

Some of China’s State-owned banks are reportedly promoting the country’s Central Bank Digital Currency (CBDC) initiatives ahead of a May 5 Shopping Festival in Shanghai. The promotion of the CBDC, also known as the Digital Yuan (e-CNY) by the banks, is a political mandate designed as an alternative to Ant Group’s Alipay and Tencent’s WeChat Pay … Continue reading Top Chinese State-Owned Banks Promote Digital Yuan Ahead of Shanghai 'Shopping Festival'

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