Keshav Aggarwal (he/his/him)’s Post

Russia’s plan to introduce a central bank digital currency (#CBDC) has hit another milestone after officials confirmed the completion of 25,000 digital ruble transactions. Data shows digital ruble transactions have soared to 25,000 in under seven months, with person-to-person transactions contributing a significant portion of the milestone with a staggering 19,000 separate transactions. Transactions involving customers and business entities made up a slice of the metrics at 6,000 at the start of March. A closer look at the figures indicates a growing dependence on smart contracts for programmability functionalities. The Bank of Russia began its retail CBDC pilot in mid-August after the State Duma launched a comprehensive legal framework, onboarding 12 commercial banks for the experiments. Spread across 11 cities with 600 individual users and 30 merchants, Russia’s digital ruble started slowly with early transactions reportedly plagued by errors and delayed transactions from commercial banks playing an intermediary role. #DLT #blockchain #web3 #digitalmoney #banking https://lnkd.in/ewxewGfh

We took on the challenge of exploring the path to a future #CBDC ecosystem - and here are the results... 🙌 ... in the form of our collaborative report with OMFIF, "Unlocking the Potential of a CBDC Ecosystem". Just published, this paper not only looks at the intricacies of central bank digital currencies, but also aims to serve as a compass for the evolving digital finance landscape. 🔍 Key Insights: 🔹 Collaborative Core: CBDC ecosystems thrive on a collaborative core of central banks and private sector innovators. 🔹 Multifaceted Benefits: Industrial sectors, businesses, and individual users will significantly gain from the comprehensive CBDC ecosystem. 🔹 Interoperability & Education: Ensuring seamless integration with existing systems and educating stakeholders are paramount. Curious to learn how to unlock the potential of CBDCs? Find our report here: https://lnkd.in/d-CDcAEA #DigitalCurrency #Innovation #Finance #DigitalTransformation #FutureOfPayments

🔍 Excited to share insights on unlocking the potential of #CBDC ecosystems with Giesecke+Devrient and the OMFIF Digital Monetary Institute! 🌐 Our report delves into the intricacies of CBDCs, exploring the roles of various organizations, benefits they bring, and practical challenges to overcome. 🚀 With inputs from 10 key stakeholders, including central banks, tech firms, merchants, commercial banks, and payment service providers, we unveil the transformative power of CBDCs in revolutionizing payment systems. 💡 From programmable payments to enhanced security and seamless cross-border transfers, CBDCs hold immense promise for the future of finance. Collaboration between central banks and the private sector is key to harnessing these benefits and driving widespread adoption. 💼 Let's dive into the CBDC revolution and shape the future of digital currencies together! #DigitalCurrency #Fintech #Innovation #Collaboration More Contents: Woongsik Dr. Su, MBA

#blockchain | #cbdc | #tokenization : The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced their collaboration relating to wholesale central bank digital currency (CBDC). The BDF and the HKMA have been maintaining a close partnership in promoting financial #innovation. The latest collaboration is the HKMA’s participation in Wave 2 of the European Central Bank (ECB)’s Eurosystem exploratory work, marking an important milestone as a major central banking institution outside the Eurosystem participating in the initiative. The two central banking institutions recently entered into a Memorandum of Understanding (MoU), which signified a step forward in bilateral cooperation to foster innovation in wholesale CBDC and tokenisation market.

The use of #cash is declining worldwide as #digital #payments continue to grow. Over the past decade, the number of #cashless payments has grown annually at 16%, with over 1 trillion transactions in CPMI countries alone. Amid this development, concerns are being raised about the potential erosion of privacy. Unsurprisingly, public consultations by central banks on retail central bank digital currencies #CBDCs show that #privacy is a fundamental user requirement. Project Tourbillon builds two CBDC prototypes that address three features simultaneously: - privacy by enabling payer anonymity, security by implementing quantum-safe cryptography; and - scalability by testing the prototype's ability to handle a growing number of transactions using payment data. Project Tourbillon comes from BIS Innovation Hub Swiss Centre.

Paisa smart hota ja raha hai! CBDCs The RBI plans to introduce programmability and offline functionality in the CBDC pilot to enable additional use cases and transactions in areas with poor internet connectivity. Fungibility of a current explained by T Rabi Shankar ji Crypto ka kya Kare sirji The Economic Times like newspaper still publishing “Best cryptocurrencies to invest in 2024” #cbdc #retailcbdc #centralbank #digitalcurrency

I am very happy to have attended the 4th week of the #FintechSummerSession24 , which was about (Central Bank Digital Currency). I would like to thank (Huy NGUYEN TRIEU) for this insightful and interactive session and (Fintech Saudi | فنتك السعودية for giving us with such an opportunity. interesting aspects were addressed during the session as we talked about the history of CBDC and the reasons to launch CBDC also about the digitalization and future of money in a digital world , Thank you so much for this great opportunity and the insightful session Looking forward for more interesting topics.. #FintechSummerSessions24,#fintech,

Swiss National Bank Extends Wholesale CBDC Pilot for Two More Years, Says Governing Board Member Antoine Martin. #stablecoin #CBDC #DigitalPayment #banking #DigitalCurrency  #Cryptocurrency #digitalPound #fintechnews #cbdccommunity  #blockchain #AI #finance #currency #regulatory #DigitalAssets #data #london #US #digitalmarketing #digitaleuro  https://lnkd.in/dGfCmyA3

CBDCs are gaining traction globally! According to the 2023 Bank for International Settlements survey, central banks are leaning towards issuing wholesale CBDCs over retail ones in the next six years. The study highlights increased engagement with stakeholders to shape CBDC design, with many features still up for discussion. Interoperability and programmability are key considerations for wholesale CBDCs, while retail CBDCs may include holding limits, interoperability, offline options, and zero remuneration. Explore more insights on CBDCs and crypto in the BIS survey: https://t.co/Un9O65FejV. #CBDC #BIS #Crypto #CentralBanks #Survey Bank for International Settlements – BIS FSV Labs Digital Euro Association Prasanna Lohar

Join us at the CBDC Conference in Istanbul, the leading event in digital currency, taking place from September 10-12 in the vibrant city of Istanbul. Sign up now to secure your spot and take advantage from the Early Bird period that ends on July 30. The CBDC Conference is your opportunity to be at the forefront of discussions on CBDC, tokenized assets, and stablecoins. Don't miss out on: 🔹 World-Class Speakers - Gain insights from the top minds in the industry. 🔹 Updates on the Digital Euro Project, the Sand Dollar, and other live cases & pilot projects - Get the latest developments firsthand. 🔹 Technological Innovations - Discover cutting-edge advancements shaping the future of digital currencies. 🔹 CBDC Academy - Enhance your knowledge with expert-led sessions. 🔹 Hands-On Breakout Sessions - Participate in interactive and practical sessions. 🔹 Great Networking Opportunities - Connect with professionals and leaders from up to 50 central banks.   For more information and to register, visit the website www.cbdc-conference.com Don't miss this chance to be part of the future of finance. See you in Istanbul!   #CBDC #DigitalCurrency #Conference #Istanbul #Networking #Innovation #Finance #EarlyBird Crunchfish AB EMTECH Giesecke+Devrient IDEMIA nChain TrustNoteD Universal Digital Payments Network Worldline