Central Bank Digital Currencies


The GIP Digital Watch observatory reflects on a wide variety of themes and actors involved in global digital policy, curated by a dedicated team of experts from around the world. To submit updates about your organisation, or to join our team of curators, or to enquire about partnerships, write to us at We look forward to hearing from you. The Digital Watch is an initiative of the Geneva Internet Platform, supported of the Swiss Confederation and the Republic and Canton of Geneva.

What Are Some Other Important Cryptocurrencies?

The order respects regulatory independence while making clear to the Federal Reserve what the White House wants. Specifically, the Fed “is encouraged to continue research and report” on its work to potentially create a central bank digital currency . The Fed just released two reports on a CBDC, which arguably already satisfy the executive order’s request.

Digital Cash: From Cryptocurrencies To Government

If you’ve been wondering how digital currency will differ from cryptocurrency then this guide will help you know everything about these two forms of currencies. The White House clearly wants that to remain the case as the world apple silicone case iphone 14  digitizes and new forms of digital assets challenge government-sponsored currency. Let’s hope that the various stakeholders can work collaboratively and correctly to get this emerging digital system right. This internet-based exchange medium has properties similar to physical currencies, however, it allows for instantaneous transactions and borderless transfer of ownership. In the world of finance, regulated markets and the privacy of financial actors are crucial.

Canadian Universities Propose Designs For A Central Bank Digital Currency

Examples of e-money are bank deposits, electronic funds transfers, payment processors. One measure of the order was to find ways to help 5 per cent of Americans who do not have access to bank accounts, while another key facet was to assess the technological infrastructure needed for a potential American CBDC. The country is currently providing digital yuan payment services to visitors of the Beijing Winter Olympics which kicked off last week. Visitors are able to download the digital yuan wallet app or store the money on a physical card. This helps to eliminate risks to the consumer, such as the collapse of a commercial bank, and creates a direct connection between consumers and a central bank.

Bordo noted that commercial banks have a vested interest in opposing the technology. The Fed published a white paper in January about potentially creating a CBDC that would complement existing payment systems. It found that a CBDC could make payments cheaper and easier for consumers but might also pose a risk to the stability of the U.S. financial system.

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