The push for a digital euro has more to do with increasing central control over the financial system than responding to the needs of a digitalized world.
For the latter, we already have #Bitcoin - money by the people, for the people.
#ECB#CBDCs#DigitalEuro
Where does the digital euro project currently stand? Who would be able to use a digital euro? What would it offer merchants? How would this central bank digital currency work in practice?
🔗 Check out our updated digital euro FAQ section for all the answers https://lnkd.in/e8DUD-bW
An evolution of Australia’s monetary arrangements is a step closer this week, with the release of an important new paper on central bank digital currency (CBDC) that sets out a roadmap for future work in Australia. We highlight the key points from the paper and explain what this all means, what you should do and how we can help here: https://lnkd.in/gcgf96uR
An evolution of Australia’s monetary arrangements is a step closer this week, with the release of an important new paper on central bank digital currency (CBDC) that sets out a roadmap for future work in Australia. We highlight the key points from the paper and explain what this all means, what you should do and how we can help here: https://lnkd.in/gcgf96uR
📝OMFIF's Future of Payments 2023 report found that more than 40% of central banks expect to have launched a #CBDC by 2028!
Want to learn more about the 🚀 future of money and digital currencies?
Read the report for free here: https://lnkd.in/ddXwA-Qh
Delighted to share this excellent piece on Australia’s plans for a wholesale CBDC from our Financial Markets & Regulatory team, spearheaded by Max Allan, with the contributions of Dale Rayner, Heidi Machin, Ian Paterson, Layton Hubble and others.
The alert brings together several key points from a paper issued by the Reserve Bank of Australia and the Treasury earlier this week.
A few key highlights:
📍The RBA is making a strategic commitment to prioritise wholesale digital money and infrastructure.
📍 Practically, a CBDC (whether it was retail or wholesale) would be issued by the RBA.
Wholesale CBDCs have more tangible benefits and use cases, particularly in relation to #tokenisation of asset markets.
📍 “Project Acacia” will explore, with industry input, uses for CBDC in settling transactions in wholesale tokenised asset markets. Key topics will include understanding new ledger arrangements and concepts such as “programmability” and “atomic settlement” in tokenised markets.
📍 Retail CBDC requires further consultation, with no clear case for this new form of digital money yet.
📍 Industry, academic and public consultation and engagement will continue. The paper highlights several areas of opportunity, risk and other considerations which will need closer review.
📍Cash has seen declining use in Australia. However, the Australian Government and RBA support Australians having continued access to cash for as long as they want to use it. This is consistent with a number of other leading markets, although we see the precise degree of support for cash highly variable.
📍 Cross-border payments are evidently of interest, but the paper does not highlight any near-term areas of collaboration with other markets.
#cbdcs#centralbanks#centralbankdigitalcurrency#tokenisation#digitalbonds#atomicsettlement
An evolution of Australia’s monetary arrangements is a step closer this week, with the release of an important new paper on central bank digital currency (CBDC) that sets out a roadmap for future work in Australia. We highlight the key points from the paper and explain what this all means, what you should do and how we can help here: https://lnkd.in/gcgf96uR
Amid the growing prominence of decentralized finance, central banks are increasing their endeavors to maintain control over financial systems, including through central bank digital currencies (#CBDC).
In this Council Views, our experts and network address the geopolitical motivations behind the adoption of #CBDCs, their potential socio-economic impacts in the #MENA region, and how these initiatives could reshape the future of money.
Read Full article on #Afkarhttps://lnkd.in/d-NmMiuX
What are cryptocurrencies? Are they the payment system of the future, a passing fad or a niche commodity? Our new course "Money, New Means of Payment and Central Banks" assesses their development and likely future trajectory - along with Central Bank Digital Currencies - from a monetarist perspective.
#CBDC#digitalcurrencies
Will Central Bank Digital Currencies (CBDCs) Impact Cross-Border Payments in 2024?
With so many countries looking towards CBDCs, we set out to find out how these would impact the cross-border payments market.
Read More: https://lnkd.in/ekYrV6pt
Join us tomorrow at 7pm for the fourth session of #FintechSummerSessions24, in which Huy Nguyen Traieu will deep dive into Central Bank Digital Currency (CBDC).
You can register for free through the following link: https://shorturl.at/Kvg2S
Want to know the top concern central banks have when it comes to central bank digital currencies?
It's low adoption!
OMFIF's Future of Payments 2023 report surveyed central banks worldwide and found that 68% of developed markets surveyed said their top worry about deploying a #CBDC is getting people to actually use it.
Find out more here: https://lnkd.in/ddXwA-Qh
