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India’s Finance Minister, Nirmala Sitharaman, has hailed the Central Bank Digital Currency (CBDC) being developed by the Reserve Bank of India (RBI).
The Princeton academic says public digital currencies face pitfalls but are still needed
BSP Governor Benjamin Diokno says that the goal of the project is to enhance “the payment system’s safety, resiliency, and efficiency.”
Stablecoins are another piece in the puzzle, like DAOs or digital identity. “And if we don’t have it just right at first, we’ll fix it.”
ECB’s Panetta says “stablecoins are not money”, as Brainard weighs CBDC as possible alternative
The Jam-DEX is named after the Jamaican Digital Exchange following a competition. Its slogan is “no cash, no problem!”
Nonfungible tokens, or NFTs, exchanges will need to navigate conflicting aims for the required transparency and the desired anonymity.
Another tentative deadline for the Finance Ministry and central bank to reach a compromise passes as an expected bill does not arrive.
“A U.S. CBDC may be one potential way to ensure that people around the world who use the dollar can continue to rely on the strength and safety of U.S. currency to transact and conduct business in the digital financial system,” said Lael Brainard.
Both President Barack Obama and the previous administration issued executive orders related to digital assets.
Foreign users are using hardware e-CNY wallets more at the Olympics, while domestic users mainly go for software wallets.