Speaking of the plan of action, The Bank of Israel added: A digital shekel could generate various benefits for the Israeli economy, but issuing it also involves risks. The Bank of Israel began to assess the possibility of a digital currency way back in 2017. Today, the central bank can be seen to be curating…
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The expanded pilot program does not have set time yet but policy framework should be complete by the end of 2020. The development of the digital currency electronic payment (DCEP) in China began in 2014, much before other global monetary regulators. China's initial real-world trial of its CBDC was scheduled for Shenzhen in the end…
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Digital currencies and distributed ledger technologies (DLT) have been faced with continuous change and fluctuation in their legislative environment in recent years, Forbes reports. Electronic money was not always as popular as it is today upheld only technologists and Libertarian in the beginning. This changed as cryptocurrencies and blockchain technology spiked interest and powered up…
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China is aiming to carry out the initial real-world trial of its central bank digital currency (CBDC), according to local news outlet Caijing. The initial test for the CBDC is scheduled for Shenzhen before the end of the year, possibly including the city of Suzhou as well. With the support of the People’s Bank of…
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If Chinese officials are acutely aware of one thing, it most certainly is their country’s constantly evolving position in the world politic and what might pose a competitive threat to that position at a later date. It is therefore not that difficult to understand that, after Facebook and its Libra Coin received a tongue lashing…
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Although recent press reports may contend otherwise, not all central banks are opposed to the notion of cryptocurrencies. The World Economic Forum released a report back in April that revealed that there are several ongoing central bank led projects that involve blockchain technology in support of what is called a Central Bank Digital Currency (CBDC).…
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There is a maxim in corporate strategy that suggests that you may never be able to guess accurately guess how the market may receive a new product offering, but the moment the announcement is made, the consequences and reactions from competitors become abundantly clear immediately. Such may now be the case with Facebook’s Project Libra.…
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