A lot is going on with the economy. The monetary authorities around the world leverage their powers to intervene by printing money and introducing unconditional payments for citizens, businesses change their model or struggle to keep afloat.
#national digital currency
The Bank of France announced a CBDC experiment and is open to applications. The test is a part of the larger move towards introducing central bank digital money in the EU and is aimed to explore solutions for interbank settlement.
While our society is being taught a hard lesson about the benefits of digitization, governments and businesses scramble to put together all sorts of online solutions. Although, China may have had a head start in going digital with a national blockchain infrastructure expected to go live next month.
The Bank of England (BoE) has published a discussion paper, exploring the pros and cons of a potential issuance of CBDC pegged to the British pound. In the paper, BoE offers more pros than cons and pledges to hear out thoughts on the matter from the general public.
People around the crypto space like to talk about the old days. I mean, really old, when people were exchanging pretty shells instead of money. And look at us now: Bitcoins, wire transfers, futures contracts for stuff you’ll never get, and other sorts of financial speculation for rich and poor to enjoy.
Speaking at the conference titled “Blockchain and Open Platforms” held by Bankir.ru, Olga Skorobogatova, deputy chairwoman of the Bank of Russia, told about possible development of digital national currencies and banking industry’s interest to distributed ledgers.