The bankers are finally coming around to the fact that blockchain technology is a far more efficient vehicle for the transfer of wealth. So now they’re trying to come up with ways to stop that wealth from transferring away from them.

Cash scarcity in Nigeria is crippling local businesses and taking a toll on Nigerians’ daily lives but even amidst all the social chaos the Central Bank Digital Currency, eNaira, isn’t going anywhere.

China, the first major economy to launch a Central Bank Digital Currency (CBDC), is experiencing stagnation in its adoption plans. Hitting the wall of the well-developed domestic mobile payments, e-CNY undergoes criticism while the government explores ways to adapt it to people's needs.

With the Swiss National Bank seeing no immediate need to develop its own retail CBDC, the Swiss Bankers Association has come up with an alternative blockchain-based stablecoin for use in digital asset transactions and DLT ecosystems.

On March 2 the Reserve Bank of Australia published the list of chosen use cases for its CBDC research project. A list of 14 use cases includes payment, tax automation, corporate bond settlement with ABE, and Web3 commerce with Mastercard.

Although the European Central Bank is still undertaking its investigative stages concerning a potential Euro-Zone CBDC, it already seems to be tying itself in knots trying to limit potential disruption to the status quo as far as commercial banks are concerned.

Last month Brazilian president Inácio Lula da Silva and his Argentine counterpart, Alberto Fernandez, reignited the idea of a common currency as a means towards an economically independent future.

Payment Systems Department, Bank of the Lao PDR and Soramitsu signed a Memorandum of Understanding (MOU) to launch CBDC Proof of Concept on February 6, 2023