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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

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

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

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

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

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

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

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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Japan’s central bank sets up new team to research digital currencies

Japan’s central bank sets up new team to research digital currencies

The Bank of Japan (BOJ), the country’s central bank, has set up a new dedicated team to further study digital currencies. Reuters reported the news on Sunday, saying that the team is part of the central bank’s payment and settlement systems division. Members of the team are not yet known. The news comes just days …

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South Korea’s central bank forms legal advisory team to research digital currency

South Korea’s central bank forms legal advisory team to research digital currency

The central bank of South Korea has today officially formed a legal advisory group to research digital currency. The six-member group comprises of internal and external legal experts, who will advise the Bank of Korea on legislative and amendment matters concerning central bank digital currency (CBDC) if it were to issue one. To be sure, …

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Congressman calls for more transparency from the Fed on central bank digital currency work

Congressman calls for more transparency from the Fed on central bank digital currency work

U.S. Representative Tom Emmer said Thursday that the U.S. Federal Reserve should be more open about its research and development efforts focused on a central bank digital currency, or CBDC. Emmer’s comments came during an appearance of the House Financial Services Committee’s The Task Force on Financial Technology, which met to discuss topics like the …

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