CBDC

The post System-wise CBDC Roll-Out Should Not Be Rushed: RBI Governor appeared first on Coinpedia Fintech News India’s central bank Governor Shaktikanta Das has expressed that while the retail CBDC pilot has over 5 million users, there should not be in any rush to roll out a system-wide CBDC. By the end of 2022, the RBI had launched pilots for both CBDCs. By the end of 2023, the retail CBDC had hit a million transactions, at least on one day.…

A research paper titled “Potential Climate Impact of Retail CBDC Models” tests Algorand and Hedera as a representation of the e-Krona model and its decentralized design.  At press time, 130 countries had explored the possibility of rolling out a CBDC, representing 98% of the global GDP.  The Sweden Riks Bank has reportedly subjected Algorand and Hedera to test for retail solutions for the e-Krona’s project. In a report entitled “Potential Climate Impact of Retail CBDC Models,” Riks Bank explored a…

The post Central Bank of Bahamas Sets 2-Year Target To Integrate Sand Dollar CBDC Into Commercial Banks appeared first on Coinpedia Fintech News The Central Bank of Bahamas has set a two-year goal to integrate the Sand Dollar CBDC fully into commercial banks, to boost its adoption. Commercial banks must adjust their IT systems to adapt to the new requirements as the integration progresses. The strategy adopted by the Bahamas reflects a growing global trend where central banks are looking…

Nabatech, a Swiss digital asset specialist, has selected Polkadot’s Substrate blockchain to build its digital asset platform for central banks and financial institutions.  The decision to go with Polkadot’s Substrate framework was made after a thorough analysis of seven potential platforms.  Nabatech Taps Substrate Nabatach is a joint venture between SICPA, a cash cycle expert for several of the world’s central banks and sovereign states, and INX, a real-world asset tokenization platform regulated in the US by the Securities and…

The post Bank Of Israel Launches Its Own CBDC – THE DIGITAL SHEKEL appeared first on Coinpedia Fintech News The Bank of Israel has announced its own CBDC experiment inspired by the BIS Innovation Hub’s Project Rosalind, titled the ‘Digital Shekel’. This initiative, called the ‘Digital Shekel Challenge’, aims to connect to the CBDC system via APIs. The application deadline is July 11. The Bank of Israel intends to engage various service providers in co-developing an advanced digital payments ecosystem…

Donald Trump promises to stop Joe Biden’s anti-crypto policies and support self-custody of digital assets. Trump’s campaign is now accepting crypto donations, making him the first major candidate to do so. Former U.S. President Donald Trump has made a bold declaration regarding the United States’ position in the cryptocurrency industry. In a recent post, Trump emphasized the necessity for the country to be the frontrunner in this growing sector. Highlighting his commitment to fostering innovation and growth within the crypto…

The United States crypto community will have a huge impact on the next POTUS in the upcoming election, thus signaling a major shift in financial freedom. Cardano’s founder believes the crypto industry is the only hope for financial freedom while the CBDC is a surveillance tool for the government. As the 2024 United States presidential election draws closer, it is more evident that it is a two-man race between Democratic candidate Joe Biden and Republican bearer Donald Trump. However, the…

CBDCs Leverages the XRP Ledger technology, it offers governments a comprehensive solution for deploying and managing secure digital currencies.  CBDCs offer governments improved monetary policy effectiveness, enhanced transaction speed, and greater transparency in financial flows. Ripple’s Central Bank Digital Currency (CBDC) platform is a leader in efficiency and scalability in the digital currency landscape. Leveraging the XRP Ledger technology, it offers governments a comprehensive solution for deploying and managing secure digital currencies. With transaction speeds measured in seconds and costs…

Global bank messaging system SWIFT has announced the findings of the second test phase of its CBDC solution after a successful six-month test period.  SWIFT did not create its own central bank digital currency (CBDC); instead, it developed the SWIFT connector, an interlinking solution for existing CBDCs.  SWIFT Announces Second Phase Findings  SWIFT has announced the findings of the second phase of its industry-wide sandbox testing on its central bank digital currency interlinking solution. Results have shown that the SWIFT…