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EY launches Ethereum-based procurement solution for enterprises

EY-led consortium bids to work on Korea’s central bank digital currency pilot project

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A consortium led by EY Hanyoung, the “Big Four” consulting giant’s South Korean subsidiary, has reportedly bid for the country’s central bank digital currency (CBDC) pilot project. EY Hanyoung, along with Samsung SDS and Japanese tech giant LINE (owned by South Korea’s Naver Corporation), looks to work on the technical design of the CBDC project, …

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The Bahamas Reveal Details, October Date of Landmark Central Bank Digital Currency Debut

The Bahamas Reveal Details, October Date of Landmark Central Bank Digital Currency Debut

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The Bahamas confirmed it will cross the central bank digital currency (CBDC) finish line next month. “The intended outcome of Project Sand Dollar is that all residents in The Bahamas would have use of a central bank digital currency, on a modernized technology platform, with an experience and convenience – legally and otherwise – that resembles …

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Brazil will likely have a CBDC ready in 2022, says central bank president

Brazil will likely have a CBDC ready in 2022, says central bank president

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The president of Brazil’s central bank said a digital real is likely coming in 2022. In an interview with Bloomberg TV, Roberto Campos Neto told editor Erik Schatzker that a central bank digital currency (CBDC) will be the culmination of other efforts to modernize Brazil’s banking system. Brazil is one of a number of central …

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CBDCs need the private sector to be competitive, says Ukrainian central bank official

CBDCs need the private sector to be competitive, says Ukrainian central bank official

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In 2018, Ukraine’s central bank conducted a pilot program focused on digitizing the hryvnia, the country’s national currency. Results of that pilot were shared with the public in early 2020, according to The Block’s new central bank digital currency report. And according to one of the officials involved in that effort, central bank digital currencies …

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The Bahamas’s central bank put its digital currency on its official balance sheet in April

The Bahamas’s central bank put its digital currency on its official balance sheet in April

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In a financial statement published in late April, the Central Bank of The Bahamas achieved a little-known milestone — including its brand-new digital currency on its balance sheet. First included on page forty-seven of its annual report, the central bank noted that it had put $48,000 worth of the Sand Dollar into circulation. The document …

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MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency

MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency

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The idea of wholly digital currencies isn’t a new one, but it was bitcoin that added extra fuel to that long-running conversation, according to Neha Narula, director of MIT Digital Currency Initiative. Her comments were included in The Block’s new wide-ranging report on central bank digital currencies, which covers a range of R&D initiatives from …

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Central bank of the Philippines is considering issuing its own digital currency

Central bank of the Philippines is considering issuing its own digital currency

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The central bank of the Philippines, locally called the Bangko Sentral ng Pilipinas (BSP), is looking at the feasibility of issuing its own digital currency. Bloomberg reported the news on Wednesday, saying that the central bank has created a committee to study digital currencies and its policy implications. Governor Benjamin Diokno said the central bank …

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Federal Reserve Bank of Boston’s Bench says the U.S. ‘better be ready’ for a future digital currency issuance

Federal Reserve Bank of Boston’s Bench says the U.S. ‘better be ready’ for a future digital currency issuance

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The Federal Reserve — the U.S. central bank — has no immediate plans to launch a digital currency. But that doesn’t mean it shouldn’t be ready when that day comes, according to Robert Bench, assistant vice president in the secure payments group at the Federal Reserve Bank of Boston. During a recent webinar hosted by …

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