Lithuania To Trial Europe’s First Central Bank Digital Currency (CBDC) – Blockchain News, Opinion, TV and Jobs

With national banks around the world driving at the speed of light to develop Central Bank Digital Currencies (CBDC), and Facebook cryptocurrency looms on the horizon, Lithuania has taken the step to issue the first central bank-produced digital coin in the eurozone. A CBDC is essentially a state cryptocurrency, renamed by the financial sector to steer clear of tying it too closely to Bitcoin and other cryptocurrencies which have brand issues. The bold CBDC issuance project is underway in Lithuania, one of the three Baltic states of Europe. The digital…

Bank of Japan Will Begin Experimenting With a Digital Yen

The Bank of Japan has announced it will begin experimenting with a central bank digital currency (CBDC) to check its feasibility from a technical perspective. BoJ wants to digitize cash but it remains to be seen if Japan can catch up with China which has already begun testing its own CBDC. This is the first time the BoJ has revealed it would commence a Proof of Concept (PoC) process with the digital yen but the bank is yet to reveal a timetable. In a report called Technical Hurdles for CBDC,…

Kazakh Gov Plans to Double Its Investment in Digital Currency Mining

Kazakhstan officials revealed the nation’s digital currency development plan to experts from Russia and China at “2020 Astana Online Financial Day”. According to the China Ministry of Commerce on July 1, Kazakhstan plans to double its digital currency mining investment by the end of this year, and continues to develop its central bank digital currency. According to the report, Kazakhstan’s digital currency mining project attracted 82.6 million Tenge, which is about 20 million USD. The scale of this investment will increase by 80 million Tenge in 2020. Blockchain and CBDC…

Central Bank Digital Currency Touted as Solution to US Economic Overhaul

Talk of a US central bank digital currency (CBDC) dominated proceedings, as the US Senate Committee on Banking, Housing, and Urban Affairs conducted a virtual meeting yesterday. The near two-hour-long hearing titled “The Digitization of Money and Payments” discussed competing with China’s CBDC offering, financial inclusion, and modernizing the current US economic model. Taking the lead in tabling senator’s questions was former Chairman of the US Commodity Futures Trading Commission (CFTC), Chris Giancarlo. Source: banking.senate.gov Now of The Digital Dollar Project as Project Director, Giancarlo shared his insights into how…

London Chelsea Limited Partners With Solidblock To Digitally Raise Financing For London Digital Bond — A Single-family Property Fund Will Be Financed Through Blockchain-based Securities For The First Time Globally

For the first time in history,  a single-family property fund will be financed through blockchain-based securities. UK investment company London Chelsea Limited is partnering with SolidBlock, a digital securities issuance and trading platform, to raise financing for London Digital Bond, a new fund that invests in prime residential real estate. “We are creating a digital age financial instrument that provides the stability and upside potential of prime London residential properties, combined with the flexibility of trading on a top digital securities platform,” said Yael Tamar, co-founder of SolidBlock. SolidBlock will…

Digital Chess Game Giant FIDE Online Chooses Algorand Blockchain For Official Chess Ratings – Blockchain News, Opinion, TV and Jobs

Algorand — a world-class blockchain powering secure and efficient frictionless exchange founded by Turing Award-winning cryptographer Silvio Micali from MIT — will be capturing official ratings and titles data from World Chess players on its decentralized blockchain network in real-time. This promises to bring reliability and transparency to the rating system of digital chess. “We are beyond thrilled to partner with FIDE Online Arena and World Chess to bring digital chess ratings onto the Algorand blockchain for the first time,” said Sean Ford, COO of Algorand. “This historic moment brings the blockchain…

USDC Powers Algorand Foundation and Circle To Bring Digital Dollars to Algorand Blockchain – Blockchain News, Opinion, TV and Jobs

The not-for-profit organization Algorand Foundation has cut a deal with Circle to bring fiat-backed stablecoin capability to Algorand. The stablecoin, called USD Coin (USDC), is allegedly the fastest-growing full-reserve US Dollar stablecoin. “Growth in mainstream financial use cases is driving more demand for high-throughput payments and finance-optimized blockchain infrastructure,” said Jeremy Allaire, co-founder and CEO of Circle. “The combination of USDC and Circle Platform Services with the Algorand blockchain will create a foundation for developing a wide range of scalable, secure and compliant financial applications. Through this collaboration agreement, Circle will…

Signature Bank Releases Digital Payments Platform ‘Signet’ on the Fireblocks Network – Blockchain News, Opinion, TV and Jobs

New York-based full-service commercial operation, Signature Bank (Nasdaq: SBNY) have launched and integrated its proprietary, blockchain-based digital payments platform, Signet™, with Fireblocks, an enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets. “The integration with Fireblocks will offer enhanced services to our clients. With this latest banking technology innovation, Signature Bank remains at the forefront as we advance our Signet product and its capabilities. As the digital needs of our clients continue to evolve and the broader adoption of asset tokenization increases, Signet APIs are yet another…

S.Korea: BOK launches legal team to research digital currency

The Bank of Korea on Monday officially launched a legal team to help smooth the launch of a central bank digital currency and cryptocurrencies rolled out by central banks. The formation of the six-member panel — comprising external legal experts, lawyers and BOK officials — was a follow-up to the central bank’s announcement in April, when it said it would carry out a 22-month pilot program until December 2021 to examine how to operate a CBDC system. The BOK had maintained a lukewarm stance toward the CBDC matter until then, even dissolving…

Voyager Digital Stock (VYGR) Doubles, Surpassing Bitcoin Growth Rate

Voyager Digital stock is showing great results this year. It means that it can become a good choice for investors who are interested in the crypto industry. Cryptocurrency broker Voyager Digital Canada Ltd (CNSX: VYGR) has seen a doubling of its stock from last year. This brings the heavily regulated company into the spotlight as an example of a company that is set to change things. Sources say that Voyagers Digital stock doubled to reach C$0.56 cents a share. The stock prices fell by 18% on Monday. The drop occurred…