Tag: Digital

Ripple to power Georgia’s central bank digital currency, the digital lari

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The National Bank of Georgia (NBG) has selected blockchain payments network Ripple Labs as the official technology partner for developing digital lari, its central bank digital currency (CBDC) project. Ripple said in a  statement that the partnership will encompass the implementation and deployment of the Digital Lari pilot initiative through the Ripple CBDC Platform. The National Bank of Georgia will utilize this innovative CBDC platform to evaluate potential applications of the Digital Lari, determining its advantages to the government sector, enterprises, and individual retail users. Before being designated as NBG’s technology partner, Ripple…

Marathon Digital will use landfill methane to mine Bitcoin in Utah pilot project

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Marathon Digital has begun mining Bitcoin (BTC) using power generated from methane gas siphoned off a landfill. The 280-kW off-grid pilot project is operating in Utah. Marathon teamed up with Nodal Power on the project. Nodal Power was launched in November 2022 and produces energy from landfill gas in the southeastern United States and Texas. It raised $13 million in a seed round in August to operate two sites, one of which includes a data center. A Nodal Power datacenter. Source: PRNewswire Marathon said in a statement that the project…

SNB Working With SIX Stock Exchange, 6 Banks on Wholesale Central Bank Digital Currency Pilot

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Visa completes digital Hong Kong dollar pilot test with local banks

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Payment processor Visa has completed the Hong Kong Monetary Authority’s central bank digital currency (CBDC) Pilot Programme with HSBC and Hang Seng Bank. According to the November 1 announcement, the e-HKD Programme involves tokenization of deposits, where the money deposited with a bank is minted on the firm’s own blockchain ledger with the backing of its balance sheet. As part of its key findings, Visa wrote:  “The time to final settlement for an interbank transfer, as confirmed through our pilot’s testing between the banks, was near real-time. Tokenized deposits were…

Galaxy Digital and Invesco Bitcoin Spot ETF Join BlackRock On The DTCC

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In a recent development, another proposed Spot Bitcoin ETF has been listed on the Depository Trust and Clearing Corporation’s (DTCC) website, becoming the second proposed Spot Bitcoin ETF to appear on the corporation’s website.  BTCO Joins IBTC On DTCC Website The Invesco Galaxy Bitcoin ETF under the ticker ‘BTCO’ recently appeared on the DTCC website, joining BlackRock’s spot Bitcoin ETF, which goes under the ticker ‘IBTC’ as uncertainty around a possible approval of these funds continues to heighten.  Source: DTCC website Many had speculated an approval was imminent when BlackRock’s…

65% of Spaniards aren’t interested in using digital euro

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As the Bank of Spain embraces the potential adoption of a digital euro, the country’s population doesn’t appear to have the same strong appetite for the European Central Bank’s digital currency project.  This emerges from the results of a survey published by the Bank of Spain entitled “Study on the habits in use of cash.” The survey was conducted by Ipsos on two groups, totaling 1,600 respondents: the general public and the representatives of small businesses. It also included questions on the digital euro, a potential pan-EU central bank digital currency…

Kenya to introduce digital IDs for citizens by year-end

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The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. According to the president of Kenya, William Ruto, whose speech at the East Africa Device Assembly Kenya plant in Athi River was cited by local media on Oct.30: “The digital ID, which has been a major problem to us for a very long time, is now on testing mode for the next two months. I have been assured by all the stakeholders and the ministries…

Central Bank Digital Currency, or e-HKD, Could Add Unique Value, but Further Investigation Is Needed, HKMA Says

The report said the pilot found that an e-HKD could add value in three main areas – programmability, tokenization and atomic settlement – with the potential to facilitate faster, more cost-efficient and more inclusive transactions. However, the program’s 14 pilots with 16 participating firms were conducted on a small scale under a controlled environment, the report said. Source

Consultation on digital pound attracts more than 50,000 responses, privacy is key concern

The Bank of England’s consultation on the digital pound has sparked widespread public debate, underscoring critical concerns about privacy, cash usage and the currency’s future trajectory. The Bank of England has received more than 50,000 responses, on its idea of introducing a digital pound. Deputy Governor Jon Cunliffe talked about this in his speech, pointing out that people are worried about how private their information will be, what might happen to cash, and how the digital pound would actually work. Cunliffe said that if people use the digital pound, their…

JPMorgan Handles $1B Daily Transactions In Digital Token JPM Coin: Bloomberg

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…