Central bank digital currency (CBDC) is a form of digital currency that leverages the advantages of blockchain technology, such as instant cross-border transactions, traceability and programmability, providing efficiency and transparency in financial transactions. The exploration of CBDC dates back to 201...
The Technology of Retail Central Bank Digital CurrencyCentral bank digital currencies (CBDCs) promise to provide cash-like safety and convenience for peer-to-peer payments. To do so, they must be resilient and acceAuer, RaphaelBhme, RainerSocial Science Electronic Publishing...
The Bank for International Settlements (BIS) Consultative Group on Innovation and the Digital Economy has proposed a retail central bank digital currency (CBDC) architecture based on a hybrid approach where issuance and governance of the CBDC are handled by a country’s central bank while commercial...
It is important to note that the specific design and features of a retail CBDC will depend on the goals of the central bank issuing the digital currency. For instance, the People’s Bank of China has been actively researching and developing a retail CBDC, the DCEP ordigital yuan, launched ...
Digital Hong Kong Dollar to Kick off by Q4 2022 Image Source : China Visual BEIJING, September 21 (TMTPOST) – The Hong Kong Monetary Authority (HKMA) has committed to rolling out a retail central bank digital currency (CBDC), which was announced on Tuesday....
central bank digital currency (CBDC) in 2018,and since then, it has activelyparticipated in several ventures, including the Project Inthanon-Lion Rock project in collaboration with the Hong Kong Monetary Authority, as well as theBank for International Settlements’ mBridge cross-border payment ...
Example:In 2024, the Reserve Bank of Australia (RBA) announced that it would prioritize the development of a wholesale central bank digital currency (CBDC) over a retail version, as the potential benefits in terms of market efficiency and cost reductions are seen as more significant. The RBA’...
Yesterday theHong Kong Monetary Authority(HKMA) issued a discussion paper on a potential e-HKD. It focused on the policy and design issues of a central bank digital currency (CBDC), but in exploring the CBDC motivations, it struggled to find any strong justification apart from innovation. The...
PayPal believes digital currencies, central bank digital currencies and the collaboration with central banks and regulators will open new ways to exchange value and power global commerce and financial services. It has also helped in adding and retaining customers on the platform. ...
The People’s Bank of China (PBoC) announced that the test run of its central bank digital currency is currently limited to small retail transactions. According to the Global Times on Aug. 24, the central bank has clarified some details regarding the recent digital yuan — also known as ...