Mastercard Launches CBDC Partner Program with Ripple, Consensys, and Fireblocks to Learn from Key Players in Digital Currency Space
Mastercard has launched a new program to collaborate with key players in the central bank digital currency (CBDC) space. The global value of CBDCs is expected to grow to over $200 billion by 2030, with most transactions being domestic. Mastercard is teaming up with companies such as Ripple, Consensys, and Fireblocks to learn from each other. The author discusses the potential of electronic cash to provide a platform for new products and services, and Mastercard is working with industry partners to address questions about CBDC issuance, security, privacy, and interoperability.
Mastercard Launches CBDC Partner Program with Ripple and Other Firms
Mastercard has launched the CBDC Partner Program, which aims to engage key players to drive CBDC innovation and efficiency. The program's inaugural partners include Ripple, Consensys, Consult Hyperion, Fireblocks, Fluency, Giesecke+Devrient, and Idemia. <br>
Central Bank of Colombia: Setting restrictions on CBDC transactions may be beneficial to solve user privacy and security-related issues
Central Bank of Colombia has not yet decided whether to issue a Central Bank Digital Currency (CBDC), but the Central Bank of Colombia believes that setting restrictions on CBDC transactions may bring many benefits, and setting restrictions on CBDC transactions may help solve privacy and security-related issues for users.
U.S. Congressman: Banning CBDCs Crucial to U.S. Fintech Future
US Congressman Warren Davidson strongly opposes central bank digital currencies (CBDCs), stating that implementing a ban on these tools is "crucial" for the future of the US fintech industry. Davidson explains that many people mistakenly equate cryptocurrencies with CBDCs because they are two different concepts, and the technology behind these tools is not the issue. He blames the groups behind the CBDC projects for the problem.
Davidson states that tokenized assets are not the problem, but rather who is manipulating them behind the scenes. Entities (including the Federal Reserve, Ripple, and ConsenSys) and influencers behind CBDC projects are actively working on them. <br>
Ripple: Working With Hong Kong Companies and Financial Regulators to Pilot Projects Such As RWA
August 10th, Kirit Bhatia, the head of international business development at Ripple, stated that Ripple is collaborating with the Hong Kong Monetary Authority (HKMA) to pilot a central bank digital currency (CBDC) program. The program aims to tokenize real-world assets (RWA) using the Ripple CBDC platform supported by XRP Ledger (XRPL) technology.
The Bank of England and the Ministry of Finance Have Created a CBDC Academic Advisory Group, and Relevant Scholars Can Apply to Join Before September 3
On August 10th,the Bank of England and the UK Treasury are creating a CBDC Academic Advisory Group (AAG) to provide expertise during the design phase of the digital pound. The group is currently recruiting members and aims to bring together experts in finance, economics, business, and other fields.
Bank of England launches digital pound advisory group, recruiting advisers
the Bank of England(BoE) announced on Wednesday that it has established a digital pound advisory group as the country enters the design phase of its CBDC and is currently recruiting members for the group. The academic advisory group aims to bring together experts in finance, economics, business, and other fields.
Bank of Russia to Begin Pilot Testing Digital Ruble Transactions with 13 Banks
Thirteen banks in Russia, excluding Sberbank and Tinkoff, will participate in a pilot testing program for the digital ruble, a central bank digital currency approved by President Vladimir Putin in July. The testing will involve real-world transactions at 30 points of sale in 11 Russian cities. The pilot program aims to ensure that the infrastructure surrounding the CBDC is functioning and user-friendly before rolling it out for retail and business use.
Grayscale Predicts US President's Support for CBDCs, Cryptocurrency Stance Transcends Party Lines
Grayscale predicts that the next US president will support the development of Central Bank Digital Currencies (CBDCs), transcending party lines. Both frontrunners, Joe Biden and Donald Trump, have shown willingness to explore CBDCs, though their views on cryptocurrencies like Bitcoin differ.
CFA Institute Survey Finds Mixed Support for Central Bank Digital Currency Among Investment Professionals
A survey conducted by the CFA Institute on its members' perceptions of central bank digital currency (CBDC) found a wide range of opinions, with varying levels of support depending on the location and age of respondents. While 42% of respondents believed that central banks should launch digital versions of fiat currencies, support was lower among investment professionals in the United States at 31%. Privacy was the most common objection to CBDCs, with 50% of respondents expressing concern. The survey received the most responses from the United States and had a response rate of 5%.
