Jerome Powell has in the past remained tightlipped on the central bank digital currency, urging caution and claiming the Federal Reserve was monitoring the field.
The Bank of Canada said the global health crisis had hastened the urgency of the development of its state-backed digital currency.
Central bank officials have indicated progress has been made on launching a digital currency, citing the pressures of the COVID-19 pandemic as a catalyst.
The project had moved beyond proof-of-concept and was approaching being ready for a wider rollout, according to the central bank head.
Australia’s digital payments systems are adequate for the citizens’ needs, according to Tory Richards, head of payments policy at the Reserve Bank of Australia.
The central bank has been studying and testing DLT for years now and is currently working on a hypothetical digital currency oriented to central bank uses.
This week, we check into the recent U.S. Senate hearing exploring the digitization of money, SeafoodChain’s pilot launch, and Twetch’s latest win.
The Bank of Canada is aiming to develop a central bank digital currency that could mimic bank notes on the blockchain.
USDC integration allows Bank Frick users to send and settle payments at a faster rate than the SWIFT network used by a majority of banks
This latest package comes roughly two months after the EU approved a €540 billion ($600.84 billion) stimulus package.
A digital dollar does not necessarily mean the use of distributed blockchain technology through the proof of work mining mechanism that Bitcoin uses.