• Tech giants force central bank innovation
    People,  Politics,  Technology

    Bank for International Settlements official: Tech giants forcing central banks to innovate

    Benoît Coeuré argued that financial innovation by private companies is behind the recent embrace of central bank digital currencies

    “If the ECB, the Fed and the other central banks want to continue to fulfill their role vis-à-vis society, which is to ensure financial stability and to ensure that monetary policy can be adjusted, broadcast throughout the economy, they must adapt their intervention methods to the new digital situation," said Coeuré.

  • The Bank of England (George Rex via Flickr, CC-BY-SA).
    Politics

    6 central banks team up to explore digital currencies

    England’s apex bank is joining forces with the Bank of Canada, the Bank of Japan, the European Central Bank, and others to study use cases for central bank digital currencies

    The Bank of England’s statement said the group will explore “CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies.”

  • The French Army couldn't beat China in the Tonkin War of 1884-5. Can it beat China's central bank to a to a digital currency in 2020? (via Banque de France)
    Cryptocurrencies,  People,  Politics

    France: 2020 national digital currency bridge to e-euro

    François Villeroy de Galhau appoints Nathalie Aufauvre to build a French national digital currency leading to an e-euro

    Banque de France Governor François Villeroy de Galhau is planning to test a central bank-issued digital currency by 2020 to do it. Along the way, he’s making a play for French leadership of the European economy.

  • Mario Draghi, President, European Central Bank, Frankfurt during the special address session at the Annual Meeting 2013 of the World Economic Forum in Davos, Switzerland, January 25, 2013. . . Copyright by World Economic Forum. (via Wiki commons, swiss-image.ch/Photo Remy) Steinegger
    Cryptocurrencies

    Outgoing ECB president (somewhat) optimistic on stablecoins

    European Central Bank President Mario Draghi says crypto-assets are not yet ‘suitable substitutes for money’ but have potential

    The biggest obstacle to a European Central Bank-issued digital currency is not the technology, according to departing European Central Bank President Mario Draghi. Rather, he said, the “key issue is … its utility in terms of costs and benefits to the public.”