Tag: Digital

UK gov’t is hiring a central bank digital currency lead for Treasury team

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HM Treasury in the United Kingdom has begun calling for applicants to lead the central bank digital currency team behind efforts towards a digital pound. In a job posted to LinkedIn on Jan. 24, the U.K. Treasury called for a team lead for its Payments and Fintech Team of roughly 20 people focused exploring on a “potential digital pound”. According to the posting, the CBDC head would determine the “strategic direction” for Treasury’s efforts to develop a digital currency in line with the government’s agenda, as well as analyze potential…

UK Treasury is Looking for CBDC Head as it Explores Digital Pound

Countries around the world are considering the same, with two-thirds of central banks in a recent Official Monetary and Financial Institutions Forum (OMFIF) survey saying they would issue a CBDC within 10 years. The Bahamas, Nigeria, Eastern Caribbean and Jamaica have already issued a CBDC, while China is ahead of most larger nations with its own CBDC trials. Source

ECB Says Digital Euro Will Be Free, Outlines More Plans

The ECB believes that the digital euro answers the increasing preference for digital payment. Speaking to a European Parliament committee on the 23rd of January, an executive board member of the European Central Bank (ECB), Fabio Panetta, revealed that the digital euro will be free to use. The central bank has been committed to developing the digital version of a central bank currency. Upon its successful launch, the central bank digital currency (CBDC) will extend payment options beyond cash offerings. In a statement, the executive board member noted that the…

Amid crypto winter, central banks rethink in-house digital currencies

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Over the last couple of years, numerous reports have surfaced regarding governments worldwide exploring the issuance of their very own central bank digital currency. In fact, to date, nine countries have rolled out an active CBDC offering. In this regard, China’s digital yuan witnessed widespread use during the 2022 Winter Olympics.  Other countries that have initiated similar projects include the Bahamas, the Marshall Islands and Nigeria. However, it is being reported that Nigeria’s eNaira has witnessed poor uptake so far, and the others have fared somewhat similarly. Moreover, India too…

ECB executive board member outlines plans for digital euro to European Parliament

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The digital euro, should it come into existence, will preserve the role of the central bank by extending payment options beyond those offered by cash, European Central Bank (ECB) executive board member Fabio Panetta told a European Parliament committee Jan. 23. Panetta expressed satisfaction with the progress of research on a potential digital euro. He told the European Parliament Economic and Monetary Affairs Committee: “The ECB is at the global forefront of the efforts by central banks to design state-of-the-art digital payment solutions for both retail and wholesale transactions.” Access…

Protecting Digital Privacy Rights: Congress Urged to Defend Pro-Privacy Future

This is why our organization, Fight for the Future, has released a letter signed by 40+ open-source, decentralized and/or privacy-preserving projects that asks lawmakers to protect a pro-privacy future. Signatories on this letter include Tor, The Blockchain Association, Nym, Protocol Labs, Proton, Zcash, Tutanota and Mysterium. Source CongressDefendDigitalfuturePrivacyProPrivacyProtectingrightsUrged CryptoX Portal

‘Digital Currencies Appear Inevitable’ – Featured Bitcoin News

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Bank of America says “digital currencies appear inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.” Bank of America on Future of Money and Payments Bank of America (BOA)’s global research team published a report on global cryptocurrencies, digital assets, and central bank digital currencies (CBDCs) earlier this week. The bank wrote: Digital currencies appear inevitable. We view distributed ledgers and digital currencies, such as…