European Central Bank: Digital Euro to Offer 'Maximum Privacy,' Though Not as Much as Cash
A new central bank digital currency (CBDC) in Europe would be designed with privacy in mind, although it would never be as private as cash is, according to a European Central Bank (ECB) official.
Visa Announces Ambitious Crypto Product Roadmap Tapping on Ethereum Network
Visa is reportedly hiring senior software engineers to help build scalable Web 3.0 products and drive mainstream adoption of public blockchain networks and stablecoin payments. The company is searching for engineers with a good understanding of public and permissioned distributed ledger technology (DLT) networks, security protocols, and private key custody, as well as Layer 1 and Layer 2 solutions and experience writing smart contracts using the Solidity programming language. Visa is likely to tap the Polygon network to scale its Ethereum smart contract capabilities in Web 3.0 development. The company has already made investments in the NFT and stablecoins market and is working with central banks to help scale the adoption of CBDCs. Visa's CBDC Payments Module is designed to provide an on-ramp for CBDC to existing payment networks.
Visa Hiring Crypto Engineer With Focus on AI-Written Smart Contracts
Visa is seeking to hire a software engineer with experience in using AI-assisted engineering tools to write and debug smart contracts, according to a tweet by Cuy Sheffield, Visa's Head of Crypto. The company is specifically interested in engineers with experience using GitHub Copilot and other AI tools.
Crypto Morning Briefing: Binance.US Finally Lists Floki Inu Amid Massive 33% Rally
ECB Considers Digital Euro to Complement Cash with Maximum Privacy; China’s Big CBDC Plan: Digital Yuan For Europe Trade; Binance Launches Liquid Staking Token, Joins Growing Market After Ethereum’s Latest Upgrade
China’s Big CBDC Plan: Digital Yuan For Europe Trade
China’s Belt and Road initiative, the project aimed at improving regional co-operation through better connectivity, is one of the most ambitious infrastructure plans globally. While the initiative is purely physical and involves improving road connectivity, the country’s digital infrastructure plans for cross border trade could change the face of international payments in the commercial space. This is because the initiative connects stakeholders from around 150 countries.
Belarus to Decide on Issuing CBDC by Year’s End: National Bank Chair
The National Bank of the Republic of Belarus has prepared a pilot program for a central bank digital currency (CBDC), according to the official BelTA news agency. The country will make a decision on the issuance of a digital Belarusian ruble by the end of the year, chairman of the national bank Pavel Kallaur said.
US Wholesale CBDC Has ‘Promise,’ Fed Governor Says, but Retail ‘Difficult to Imagine’
United States Federal Reserve Board governor Michelle Bowman spoke at Georgetown University on April 18 to “offer a perspective” on central bank digital currency (CBDC).
Fed Board Member Says CBDC Risks Outweigh Benefits
Governor Michelle Bowman said it is “difficult to imagine a world” where the benefits of a central bank digital currency (CBDC) can justify the “unintended consequences.”
Hong Kong’s Banks Are Taking Lead on What e-HKD Will Look Like
Hong Kong is increasing efforts to develop its own central bank digital currency (CBDC) this year, but the ledger's nature, whether centralized or decentralized, has been left up to banks. At least one major bank is considering developing an e-HKD on a permissioned blockchain. Unlike China's e-CNY, the architecture of Hong Kong's CBDC has not been dictated by the central government. The e-HKD will likely be developed without public input, leaving huge security and privacy implications about whether it will be issued on a permissioned or permissionless chain. Hong Kong is currently a cash-heavy society where taxis typically require cash payment. (Coindesk)
Israel’s Central Bank Says CBDC Could be Issued if Stablecoin Use Increases
The Bank of Israel's Steering Committee on the Potential Issuance of a Digital Shekel has outlined possible scenarios for the development and deployment of a CBDC, a digital shekel called “SHAKED.” The bank is preparing an action plan for the potential issuance of a CBDC, though a formal decision has not been made. Possible drivers of CBDC development include increased stablecoin activity, which may impair the payment system and harm the monetary transmission, and a decline in the use of cash in Israel, which may result in a shift away from using central bank fiat. The Bank of Israel is monitoring the situation in preparation for advancing the digital shekel. (Cointelegraph)
