Understand the significance of central bank digital currencies (CBDCs) and their impact on the global financial system. Explore various national initiatives.
CBDC
Understand the significance of central bank digital currencies (CBDCs) and their impact on the global financial system. Explore various national initiatives.
The call for participants in Australian CBDC project pilot has received significant interest. At almost the same time, Australian Securities Exchange (ASX) cancelled its plans for its settlement system upgrade that utilized blockchain technology.
On November 30, right after G20 Summit in Indonesia, the Central Bank of the country presented the "Garuda Project" - a road map for the development and implementation of CBDC in the national economy.
On November 30, right after G20 Summit in Indonesia, the Central Bank of the country presented the "Garuda Project" - a road map for the development and implementation of CBDC in the national economy.
The call for participants in Australian CBDC project pilot has received significant interest. At almost the same time, Australian Securities Exchange (ASX) cancelled its plans for its settlement system upgrade that utilized blockchain technology.
The New York Innovation Center (NYIC), a joint project of US Fed and BIS, is launching a proof-of-concept project to explore the feasibility of an interoperable network of digital central bank liabilities and commercial bank digital money using distributed ledger technology.
China expands the e-CNY trials across four more provinces: Sichuan, Guangdong, Jiangsu, and Hebei. One of the first CBDCs in the world, China’s e-CNY is also showing great adoption rates.
November 1, 2022 The first pilot of India’s CDBC, the e-rupee, commenced today. It will test the wholesale segment (e₹-W) in bond transactions with nine banks. The retail segment (e₹-R) is planned for launch within a month.
The Bank for International Settlements Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority cooperated to create a two-tier CBDC system that mirrors the current Hong Kong currency system and features unusual CBDC-backed stablecoins.
SWIFT completes another phase of its CBDC trials. The focus is on cross-border settlements between different CBDCs. The conclusion so far is that their existing systems can handle it.
