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“# Japanese messaging giant LINE developing CBDC platform ” LINE, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency The Chosun Ilbo reported on Oct. 19. Sources familiar with the matter reportedly told The Chosun that LINE aims…
“# Leaders of global CBDC projects talk shop in panel today ” As part of DC Fintech Week, a digital conference on the governmental side of the financial technology sector, several international leaders gathered for an Oct. 19 panel called: Central Banks, CBDCs and Cryptoeconomics. “I don’t see technological barriers in this area, but I do…
“# 95% of winners in China’s CBDC lottery spent digital yuan prizes ” The vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red packets” of digital yuan. As of Oct. 18, a total of 47,573 out of 50,000 lottery winners in China have received their prizes, Shenzhen authorities…
“# With job listing, Canada’s central bank takes additional steps towards a CBDC ” The Bank of Canada is looking to hire an economist who has a deep knowledge of financial technology and digital currencies, potentially signaling the latest in a series of steps towards a Canadian Central Bank Digital Currency (CBDC). According to the…
“# Law Decoded: The rivalry between central banks and global stablecoins, Oct. 9–16 ” Editor’s note Blockchain technology has attracted regulatory attention since its inception. The security of the Bitcoin network despite the value of BTC in play has consistently proved the resilience of blockchain technology in maintaining records across a vast range of parties….
“# Five Russian banks express interest in piloting digital ruble ” A number of financial institutions in Russia have expressed interest in testing the country’s central bank digital currency, or CBDC. According to an Oct. 16 report by local news agency Izvestia, at least five Russian banks are interested in taking part in Russia’s non-public…
“# Former PwC partner to launch New Zealand ‘Power Dollar’ stablecoin ” New Zealand-based financial services company Power Finance plans to launch what it’s calling a “world-first” digital version of the New Zealand dollar. Set to launch early next year, the digital currency will employ Distributed Ledger Technology. The ‘Power Dollar’ is not government backed…
“# Central banks should be ready with CBDCs, says Bank of Canada exec ” According to an Oct. 15 report from The Canadian Press, the Bank of Canada, or BoC, deputy governor Timothy Lane said central banks should have their own digital currency ready should regulators block Facebook’s Libra token. They also noted such an…
“# ‘No single digital currency will dominate the world’ Bank of Japan now says ” There appears to be a disagreement within the top echelons of Japan’s government on the threat that China’s CBDC poses to the nation. Just last week, Kenji Okamura, vice-finance minister for Japan’s international affairs voiced concerns over its neighbor’s efforts…
“# The Bahamas central bank wants to make its digital ‘Sand Dollar’ global ” The Central Bank of the Bahamas (CBOB) is planning to make its central bank digital currency project interoperable on the international level. Bobby Chen, CBOB assistant manager of electronic solutions, claimed that the Bahamas’ digital currency — dubbed the “Sand Dollar”…