Is confirming today that its going to be testing a mobile app for storing and exchanging the on not as a paper entity by the way but rather as a digital entity like for example. The world learned about this when this screenshot appeared on social media take a look at that right there see it you can see there from the image that this appears to be sort of a Marketing Tool to get citizens chinese citizens comfortable with the idea of using and trusting Digital Currency now its important to mention that china is stressing that this really is quote only a test but is it and if it isnt why are they so head of the game at this point force forbes one of the worlds leading business periodicals is warning the white house right now to try. But ministration not to continue its present course of banning and attacking cryptocurrency in fact let me show you this recent headline from forbes it says quote why trump should unveil a u. S. Answer to big coin to rival chinas digital one should the white h
Financial institutions (FIs) in the Eastern Caribbean Currency Union(ECCU), are in support of the ECCB’s digital payment platform – DCash – as an avenue for propelling digital transformation and improving financial connectivity across the region. The ECCB became the first central bank to issue a Central Bank-backed Digital Currency (CBDC) for a currency union in March 2021 with the launch of the DCash Pilot. In a release the ECCB said …
2 hours ago
On Thursday, the People’s Bank of China (PBOC) began the second phase of its Central Bank-backed Digital Currency (CBDC) or digital yuan launch and also tested the potential of using the digital currency for cross-border payments with the Hong Kong Monetary Authority. This is according to the Wall Street Journal and local news agency Sina Finance.
During the first phase of its trial last year, China handed out $1.5 million worth of digital yuan in select cities across regions like Shenzhen, Suzhou, Xiong’an, Chengdu, and in locations where the 2022 Winter Olympics are due to be held in Beijing. During the second phase, the city of Changsha in the Hunan province was added to the list of cities where the CBDC would be rolled-out. The second phase of trials began on April 7, after consumers applied to participate in the digital yuan issuance in late March this year.
5 days ago
Bitcoins could become the currency of the future as exchange rates weaken and local currencies depreciate over time, leading to people, institutions and even sovereigns using Bitcoins or other crypto-currencies as a means to settle payments internationally, said Rahul Pagidipati, chief executive officer of ZebPay, a leading crypto-currency exchange. This would mean that the US Dollar would be replaced by Bitcoins or other crypto-currencies as it becomes devalued over time as the world’s reserve currency.
In an interview with MediaNama, Pagidipati said that the time for an outright ban on crypto-currencies is over, and that the government should work with the industry to address specific regulatory concerns and encourage innovation.