Central Bank of France announced the results of a central bank digital currency (CBDC) transaction conducted on Dec 17, 2020. It involved the use of smart contracts to enable issuance, circulation control, and redemption of fund units on IZNES’ private blockchain. As part of the experimental program, ten transactions totally...
The public consultation for the digital euro has been concluded. The online survey which was launched on 12 Oct 2020 and concluded on 13 Jan 2020 was responded by more than 8000 citizens, firms, and industry associations. The data from the survey shows that privacy of payments ranked highest among...
The collapse of Lehman Brothers in 2008 triggered the global financial crisis. To combat, central banks cut the interest rates to near zero. A decade later, interest rates still remain low in most countries. With no room to further cut rates, some central banks have implemented unconventional policy measures, a...
The United States Federal Reserve has finally decided that it’s time to look into adopting the Central Bank Digital Currency. In a letter to the congress members, US Federal Reserve Board Chairman Jerome Powell stated it is conducting small-scale research to better understand the opportunities and limitations of CBDC. The...
Digital innovation is transforming economic activity by creating simplicity and accessibility. In recent years with technological advancements, a shift in general public payment patterns has emerged. Less use of cash is opening up a number of questions concerning traditional money (cash) continuity in the future. This has led the central...
