CBDCs May Drive More Funds Into DeFi Protocols, Says Immunefi’s Mitchell Amador
In a Word on the Block interview, Mitchell Amador, the founder and chief executive officer of Immunefi, a Web 3.0 bug bounty platform, told Forkast about how the introduction of central bank digital currencies may highlight the security benefits of the decentralized finance (DeFi) industry.
UK MP Says Stablecoin Is a Gateway to CBDC, Only Crypto Can ‘Disrupt’ Settlements
A stablecoin will likely serve as a “first use case of what is likely to be a wholesale settlement coin” in the “long runtime” leading up to the potential introduction of a central bank digital currency (CBDC), Member of Parliament and HM Treasury Economic Secretary Andrew Griffith said.
Russia to Begin Work on CBDC Settlement System in Q1 as Sanctions Endure: Report
Russia’s central bank is reportedly set to begin developing a cross-border settlement system using its Central Bank Digital Currency (CBDC) amid ongoing sanctions in response to its invasion of Ukraine. The plans to move forward with Russia’s digital ruble are expected to come in the first quarter of 2023 and will see Russia's central bank study two possible cross-border settlement models, according to a Jan. 9 report from local media outlet Kommersant. The first proposed model sees various countries entering into separate bilateral agreements with Russia to integrate their CBDC systems. (Cointelegraph)
ECB Official Urges CBDC Development for the Good of Cryptocurrency and Consumers
European Central Bank (ECB) executive board member Fabio Panetta has been a vocal supporter of central bank digital currency (CBDC) and cryptocurrency sceptic, and he presented his latest argument for CBDC on Jan. 5. Writing on the official ECB blog, he said that, by developing CBDCs, central banks “will safeguard the trust on which private forms of money ultimately depend.”
Indonesia Plans to Launch its Own Crypto Exchange in 2023
Indonesia has plans to launch a national crypto exchange this year before it hands over regulatory oversight of the industry to its Financial Services Authority.
The ‘Godfather of Crypto’ Wants To Create a Privacy-Focused CBDC: Here’s How
When it comes to the “crypto” part of cryptocurrencies, David Chaum’s work predates the crypto ecosystem. His efforts as a renowned cryptographer date back to 1989, long before Bitcoin (BTC) was a thing.
Turkey’s Central Bank Completes First CBDC Test with More to Come in 2023
The Central Bank of the Republic of Turkey (CBRT) has completed the first trial of its central bank digital currency (CBDC), the Digital Turkish Lira, and has signaled plans to continue testing throughout 2023. According to a statement released by the CBRT on Dec. 29, the central bank authority said it successfully executed its “first payment transactions” using the digital Lira. (Cointelegraph)
Former Chinese Central Banker Says Digital Yuan ‘Usage Has Been Low’
A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use. Xie Ping, a former PBOC research director and current finance professor at Tsinghua University, made critical public comments about China’s central bank digital currency (CBDC) at a recent university conference, according to a Dec. 28 Caixin report. (Cointelegraph)
Turkey’s Central Bank Runs First CBDC Pilot, to Gain Prominence in 2023
On Thursday, the Central Bank of Turkey announced that it had successfully completed the first payment transactions using the Digital Turkish Lira Network as part of the first phase of experimentation. During the first three months of 2023, the central bank stated that it would proceed with the continuation of the Turkish CBDC’s “limited, closed-circuit pilot tests.”
Turkish Central Bank Runs First CBDC Tests
The Central Bank of Turkey (CBRT) has conducted the first tests of its Turkish digital lira.
