2020 has taught us many lessons. While we have all learned how to sit still at home and how to practice social distance, we also learned how to keep the mouth shut for most of the time, at least by the masks. We have learned a lot of things and...
In a recent report published by the Swiss Federal council, the council reported that a “Universally accessible [retail] central bank digital currency would bring no additional benefits for Switzerland at present”. However, a Swiss digital currency for wholesale use that is “restricted to financial market players [only]” seems to be...
[inlinetweet]The US Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin don’t see a need for the digital dollar.[/inlinetweet] In a Financial Services Committee hearing held on 5th Dec, The US Treasury Secretary Steven Mnuchin said that- “Chair Powell and I have discussed this at length- we both agree...
France to experiment with central bank-issued digital currency in 2020. In a conference hosted by ACPR, the Bank of France Governor Francois Villeroy de Galhau said that the central bank will start the test soon for the digital currency. The results of the experiment will be shared before the end...
Europe is planning to build an improved instant payment system to overcome the dominance of US-based payment providers such as Visa, Mastercard, PayPal, etc in Europe. To overcome this threat, the European central bank (ECB) aims to roll out a pan-European instant payment by the end of 2021. Source: Reuters....
There’s a very interesting saying that almost every culture uses and that’s “Fighting fire with fire”. This phrase has not been more relevant than in the United States-China trade war that has been going on for a couple of months now. It seems that the trade negotiations have been boiled...
Recently People Bank of China (PBoC) said that the main purpose behind creating a new blockchain-based payment system is to mitigate the financial risk posed by existing electronic payment platforms which are highly dominated in China by just two private players – WeChat and AliPay. Read more: Why central bank...
The People Bank of China (PBoC) has released a statement on Nov.13 that reports of PBoC have issued the digital currency is false. Adds it has not authorized any asset trading platform or institution to distribute the legal-digital currency. The official also asked the general public to not trust any...
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...
More details about China’s digital currency have been revealed. As per the official, holders of the currency would not receive interest payments.
