Speaking at a webinar series organized by the IMF, RBI Deputy Governor T. Rabi Sankar stated that the Indian central bank believes CBDCs could kill private digital currencies.
In its annual report published recently, the Reserve Bank of India proposed a three-stage "graded approach" to introduce a central bank digital currency, including proof-of-concept, pilot, and launch.
Christine Lagarde remarked that digital currencies are highly speculative and very risky assets, but backed that the central bank will be behind the digital euro.
The BCC says it needs to gather more information and would be conducting a series of "seminars, presentations, and meetings with different counterparts."
Bahamas' central bank digital currency currently makes up about 0.1% of the country's money supply, prompting the IMF to recommend that the Caribbean country accelerate its CBDC education campaign and expand its capacity.
Here is a list of some interesting and disruptive developments related to payments and blockchain technology happening right now—take a closer look at some of them.
The Central Bank of Nigeria said the upgrade makes onboarding easier, makes the wallet faster, and allows users to create a much wider range of payments.
The public said that a digital shekel would reduce reliance on cash and advance the fintech industry, but the BOI has still not decided whether it will issue the CBDC.
90% of 81 central banks are at various stages of development of a digital currency, according to a recently published survey conducted by the Bank for International Settlements.
The European Central Bank has published a report presenting the privacy options it is considering in the development of a digital euro under the Eurosystems CBDC program.
The HKMA has issued a discussion paper titled "e-HKD: A policy and design perspective," where it laid out the central banker's thoughts on retail CBDC and invited public opinion.
The country is now testing the digital yuan—e-CNY—for use in payments of tax, stamp duty, and social security premiums with Zhejiang, a province in Eastern China, pioneering the effort.
