Jon Cuncliffe, the deputy governor for financial stability of the United Kingdom’s central bank, the Bank of England (BoE), has warned that the emergence of a cryptocurrency economy may weaken or eliminate bank credit issuance. In a speech delivered to the London…
Researchers at the Bank for International Settlements (BIS) are grappling with the future of payments – so much so their newest quarterly report, released Sunday, is entirely dedicated to what that potential revolution holds. In its 138-page look at what lies…
Like a deck of cards, more and more superpowers are folding to the notion of issuing their own central bank digital currencies (CBDCs). As Japan presses ahead with plans for a digital yen to counter threats from China, the Bank of England’s…
Global central banks are increasingly looking at blockchain technology as a tool to make interbanking processes more efficient and transparent. Following the World Bank’s exemplary experience of blockchain bond transactions, South Korea’s central bank is working on its own blockchain-based bonds,…
While major industry actors argue that central bank digital currencies (CBDC) are years or decades ahead, the Bahamas plan to adopt a CBDC no later than 2020. John Rolle, the governor of the Central Bank of the Bahamas (CBOB), has reportedly confirmed…
The People’s Bank of China (PBoC) has an agenda to set industry standards across the financial sector, including blockchain, a senior official from the bank said on Wednesday. Speaking at a meeting of the National Technical Committee, PBoC vice president…
The Monetary Authority of Singapore (MAS), the country’s central bank, and investment banking giant JPMorgan have developed a blockchain prototype for cross-border payments. Announcing the news on Monday, MAS said that the prototype enables payments to be carried out in different currencies…
The Republic of Azerbaijan is planning to complete a project of blockchain-based digital identification system by the end of 2019. Farid Osmanov, director of the information technology department at the Central Bank of Azerbaijan (CBA), says that the new system…
The Bank of Canada is considering launching a digital currency that would help it combat the “direct threat” of cryptocurrencies and collect more information on how people spend their money, The Logic has learned. An internal Bank of Canada presentation, prepared for…
A top Federal Reserve official said Wednesday that the U.S. central bank is “actively looking at and debating” issuance of a digital currency, amid growing worries among current and former regulators that the dollar might be at risk of losing…