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Based on eNaira’s success, Nigeria government is taking efforts to boost the functional capacity of the Central Bank Digital Currency (CBDC).
The comments come as Layah Heilpern believes CBDCs will give rise to government enforced censorship which will prevent residents from transacting how they wish.
The private consortium, called the Digital FMI Consortium, will carry out a real-world CBDC pilot with a ‘digital pound’ (dSterling).
Nigerian Central Bank governor Godwin Emefiele told attendees at the eNaira Hackathon that technical upgrades will add to the attractiveness and accessibility of the CBDC.
The European Central Bank working paper sought to identify issues and consensus regarding CBDCs, as well as to identify gaps in the research — such as what users want.
A national digital currency would help curb tax evasion in Colombia, which is estimated at up to 8% of GDP, the head of Colombia’s tax and customs agency said.
Cross-border integration with “friendly countries” planned to bypass Swift
The Bank of China, in collaboration with the Education Bureau and financial authorities of Longquanyi District, Chengdu, has launched an educational electronic RMB smart contract prepaid fund manag
The Philippine central bank sees crypto's potential for improving domestic and cross-border payments, but the authority is still negative about crypto as a legal tender.
The Bank of Russia launched a digital ruble experiment in 2022 to explore business models and innovative use cases for central bank digital currencies (CBDCs).
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024.
Will central banks allow stablecoins to survive? Can they peacefully co-exist with central bank digital currency as a financial instrument for the unbanked?
Banks and tech companies may be invited to work with the central bank on future CBDC research
Prolonged economic sanctions against the Islamic state have forced Iran to start using crypto as a medium of exchange for international trade deals.