digital currency

Fearing Chinese Advantage, Japan Lurches Towards Digital Currency and Electronic Payments

Fearing Chinese Advantage, Japan Lurches Towards Digital Currency and Electronic Payments

By Luke Mahoney, grape Japan As we’ve discussed before, Japan is largely a cash based society. Despite, at times, a healthy interest in digital cryptocurrencies like bitcoin, consumers rely heavily on physical currency while eschewing electronic payment methods.

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Fed Researches ‘Hypothetical’ Central Bank Digital Currency

Fed Researches ‘Hypothetical’ Central Bank Digital Currency

Dive Brief: The Federal Reserve Bank of Boston is partnering with researchers at the Massachusetts Institute of Technology (MIT) in an effort to build and test a “hypothetical” central bank digital currency (CBDC), Fed Governor Lael Brainard said in a speech Thursday at the Federal Reserve Bank of San Francisco.

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Will China’s Digital Currency Compete With Alipay, WeChat Pay?

Will China’s Digital Currency Compete With Alipay, WeChat Pay?

China’s central bank digital currency (CBDC) is currently in the test phase, with screenshots recently circulated. There’s been some discussion in the Chinese press about how the digital yuan might impact the two dominant wallets WeChat Pay and Alipay.

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Who Needs Cryptocurrency FedCoin When We Already Have a National Digital Currency?

UKRAINE – 2020/02/27: In this photo illustration one hundred US dollar banknotes are seen displayed. … [+] SOPA Images/LightRocket via Getty Images The cryptocurrency enthusiasts are at it again, with a new name and even more ambitious goals than before: now they want a national digital currency.

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Wake Up, US Federal Reserve! China Just Showed How Digital Currency Is Done

Wake Up, US Federal Reserve! China Just Showed How Digital Currency Is Done

Recently, China’s central bank — People’s Bank of China (PBOC) — surprised the business and crypto world with its plan to launch a central bank-backed digital currency (CBDC). The news came after the announcement of Facebook’s Libra, creating a perception that China is playing catch-up.

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Senate Holds Hearing on Digital Currencies, Blockchain

Senate Holds Hearing on Digital Currencies, Blockchain

A decade after Bitcoin and blockchain made their debut, the US Senate has finally gotten around to holding a hearing on potential regulatory frameworks for digital currencies.

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Bitcoin and Digital Assets Are Here to Stay, Says NYSE Chairman, Despite Bear Market

Bitcoin and Digital Assets Are Here to Stay, Says NYSE Chairman, Despite Bear Market

Bitcoin got the backing of a critical figurehead on Wall Street this week. Jeff Sprecher, chairman of the New York Stock Exchange and CEO of its parent company, Intercontinental Exchange, said that despite headlines of cryptocurrencies flopping, digital assets have a future in regulated markets.

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Why Central Bank Digital Currencies Will Destroy Bitcoin

Why Central Bank Digital Currencies Will Destroy Bitcoin

The world’s central bankers have begun to discuss the idea of central bank digital currencies (CBDCs), and now even the International Monetary Fund and its managing director, Christine Lagarde, are talking openly about the pros and cons of the idea.This conversation is past due.

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The Future of Cross-Border Transfers Could Be Central Bank-Backed Digital Currency

The Future of Cross-Border Transfers Could Be Central Bank-Backed Digital Currency

As we slowly but surely move towards a global village into a reality, the overall value of cross-border payments is also expected to rise by 5.5 yearly, increasing from US22 trillion in 2016 to US30 trillion in 2022. Yet, according to a report published by KPMG , active correspondent bank numbers are at a slow […]

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How Digital Currencies Will Shape the Future of Geopolitics

How Digital Currencies Will Shape the Future of Geopolitics

Just as oil and uranium have been used for years as tools of geopolitics, national cryptocurrencies and blockchain will be used in the future arms race to the next global reserve currency.

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Central Banks of Canada, Singapore and UK Propose CBDCs for Cross-Border Payments

Central Banks of Canada, Singapore and UK Propose CBDCs for Cross-Border Payments

The reserve banks of Canada, Singapore and the United Kingdom have singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments. The report by the Monetary Authority of Singapore, Bank of England and Bank of Canada notes that CBDCs, which can either be retail […]

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Central Banks Should Consider Issuing Digital Money, IMF’s Lagarde Says

Central Banks Should Consider Issuing Digital Money, IMF’s Lagarde Says

Central banks should consider issuing digital currencies as money faces a historic turning point, according to IMF Managing Director Christine Lagarde. In a speech at the Singapore Fintech Festival on Wednesday, Lagarde highlighted the changing nature of money as demand for physical cash decreases around the world.

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