Tag "central bank digital currency (CBDC)"

France, Luxembourg and EIB Conduct Joint Wholesale CBDC Experiment

The Banque de France, Banque centrale du Luxembourg and European Investment Bank (EIB) successfully conducted a wholesale central bank digital currency (CBDC) experiment. The experiment, known as the Venus initiative, involved a 100 million euro digital native bond issuance by

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BIS To Develop Scalable, Resilient and Privacy-Focused Prototype CBDC

The BIS Innovation Hub’s Swiss Centre has launched Tourbillon, a new project that explores improving cyber resiliency, scalability and privacy in a prototype central bank digital currency (CBDC). Central banks have identified cyber resiliency, scalability and privacy as core features

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Central Bank Digital Currencies Introduce New Cybersecurity Challenges, Privacy Issues

Interest in central bank digital currencies (CBDCs) has grown over the past few years in response to changes in payments and technology, as well as the disruption caused by COVID-19. A 2021 survey conducted by the Bank for International Settlements

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SWIFT and Capgemini Successfully Interlink CBDCs for Cross-Border Payments

SWIFT and Capgemini have achieved CBDC-to-CBDC transactions between different distributed ledger technology networks based on Quorum and Corda technologies, as well as fiat-to-CBDC flows between these networks and a real-time gross settlement system. The experiment showed that the blockchain networks

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ECB Selects 5 Companies to Jointly Develop Prototype Digital Euro User Interfaces

The European Central Bank (ECB) will collaborate with five companies to develop potential user interfaces for the digital euro to test how well the technology behind a digital euro integrates with prototypes developed by companies. Simulated transactions will be initiated

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US Federal Reserve Releases Discussion Paper on Central Bank Digital Currency

Recent technological advances including blockchain, cloud computing and artificial intelligence (AI) have ushered a wave of new private-sector financial products and services, paving the way for rapid developments in money. While dozens of countries are already in the development and

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Project Helvetia Successfully Integrates DLT-Backed Wholesale CBDC Into Existing Core Banking Systems

In Switzerland, Phase II of Project Helvetia has been completed, successfully demonstrating that it is possible to integrate a wholesale CBDC (wCBDC) running on a distributed ledger technology (DLT) platforms into existing core banking systems. Kickstarted in 2020, Project Helvetia

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New BIS Paper Delves Into History of CBDC Initiatives

Most central banks around the world are either researching or launching their own central bank digital currency (CBDC), a trend driven by technological advances, changing consumer behavior, and disruptive forces including cryptocurrencies and stablecoins. In a new paper titled Central

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Central Bank Digital Currency: Non-Implementation Poses Risks Too, Warns Swiss Bankers Association

At a time when central banks around the world are ramping up digital currency plans, Switzerland’s inactivity and possible “non-implementation” of a central bank digital currency (CBDC) could, in the long run, jeopardize the country’s competitiveness, and turn it into

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SWIFT Assesses What Roles It Could Play in Future CBDC Ecosystem

As central banks around the world accelerate their digital currency efforts, international payment network SWIFT is assessing what roles it could play in this new future. In a new paper released on May 11, 2021 and produced in partnership with

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