• CBDC Google searches
    Politics,  Technology

    Central bank digital currencies capture public’s interest like Bitcoin, Libra

    Google searches about CBDCs have grown as fast in 2020 as Facebook’s Libra did last year and Bitcoin in late 2017/early 2018

    According to an Aug. 24 report from the Bank for International Settlements, “there is growing discussion of a new payment technology: central bank digital currencies (CBDCs).”

  • digital yuan coming to Beijing
    Cryptocurrencies,  Technology

    China’s digital yuan is coming to Beijing, Hong Kong

    The country announced a major expansion of its central bank digital currency test, taking it from four cities to the capital, economic engine Hong Kong, and several provinces including wealthy Guangdong

    China’s Commerce Ministry said on Aug. 14 that it is expanding its central bank digital currency experiment to the capital and some of the country’s wealthiest regions, the Wall Street Journal reported.

  • Cryptocurrencies,  Technology

    China completes digital yuan design

    The People’s Bank of China says it has completed the ‘top-level design’ and joint testing of its forthcoming central bank digital currency 

    The next steps in the country’s digital currency/electronic payment, or DC/EP, project—which it has been hammering away at for five years—are to “follow the principles of stability, security and control” and to “select pilot verification areas, scenarios and service scopes,” said Mu Changchun, the head of the PBOC’s digital currency research institute.

  • (via Pixabay.)
    United States

    Finance professionals predict US first to global digital currency

    China’s digital yuan has a big lead, and a central bank representative called the creation of the first global stablecoin ‘a horse race.’

    China has spent five years preparing to launch the digital yuan, which might happen in a matter of months. But bankers and financial industry professionals surveyed at an industry conference in October still believe the United States will be the first to create a global digital currency.

Subscribe to the
MODERN CONSENSUS Newsletter