The experiment aims for "a future digital currency landscape" that enables interoperability of wholesale CBDCs to facilitate cross-border payment, according to Monetary Authority of Singapore Deputy Managing Director Leong Sing Chiong.
Jamaican Senator Aubyn Hill disclosed that the marketplace would operate as an e-commerce platform allowing customers to pay for goods and services using CBDCs.
Back by popular demand, Kurt Wuckert Jr. underlines the role of Ordinals and Bitcoin in revamping the NFT market in a talk with the Morgan Report, which includes discussions on regulation and maximalism.
After baring its metaverse ambitions, China is now focusing on fortifying its Web3 ecosystem, with Fuzhou leading the way by offering mouthwatering subsidies to attract firms.
Blockchain infrastructure provider Canvas broke the news on May 17, noting that two digital asset fund managers, DigitalX and TAF Capital, broke down the transaction.
G7 member nations reiterate that CBDCs could play a major role in maintaining a good financial system but, similar to existing technologies, have to be monitored and regulated for potential risks.
The partnership between Samsung and the Bank of Korea entails experimenting with offline payment functionality for CBDC, including studying the possibility of using NFC without an internet connection.
The Bank for International Settlements "Project Polaris" outlined the benefits of offline CBDCs for countries gearing to launch digital iterations of their local currencies.
Hungary is following other countries in launching a CBDC, but its central bank says it is in no rush to set the program in motion, citing the lack of motivation from banking regulators.
Participating financial institutions will be selected based on their previous experiences with distributed ledger technology with a preference for the Ethereum network.
While a digital dollar “is not needed at this time,” the Bank of Canada wants to be ready as it fears digital currencies could threaten monetary sovereignty.
Rabi Sankar, deputy governor of the Reserve Bank of India, said the ideal way out of the digital currency dilemma is the rapid development and adoption of CBDCs.
