A former deputy governor of the People’s Bank of China compared notes with the chairman of the Monetary Authority of Singapore.
Preliminary talks are underway to begin testing the e-CNY in the special administrative region of Hong Kong.
Despite ambitions of overtaking the dollar, China’s central bank will have a hard time monitoring all the transactions involved in a CBDC, though commercial banks might lend a hand.
New and developing research from the International Monetary Fund suggests that central banks around the world need new legal definitions for tokenized currencies.
“We need to prevent dollarization — this is one of the major designing points of the Chinese DCEP,” said Zhou Xiaochuan.
Central bank digital currencies will fundamentally change our conceptions of money and its uses.
The U.S. needs to embrace privacy-focused crypto in order to compete with China’s digital RMB.
The stablecoin would help facilitate trade among four Asian countries, which is key to economic recovery in the region after coronavirus, proponents said.
The People’s Bank of China has sent one of its strongest signals yet of a commitment to creating a digital national currency.
Get your Fourth Industrial Revolution hardhats on. CoinDesk is at Davos to help you ponder the slew of problems ailing today’s global economy.