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Filtered by Digital CN — 78 articles

John Winchcombe

21 Dec. 2021

2 min read

Cryptocurrency Induced Systemic Risk

The Turkish lira is sharply down in value this year, over 40%. On 24 November bitcoin hit a new all-time high after the lira dropped 15% on the news of President Erdogan defending the reduction in interest rates in Turkey at a time of 20% inflation.

Digital CN

John Winchcombe

17 Dec. 2021

2 min read

OMFIF European Payments and Digital Assets Conference - CBDCs on the Agenda

At OMFIF’s European payments and digital assets conference CBDCs were on the agenda. Wholesale CBDCs are more familiar ground for central banks since they can be regarded as exploiting a technological opportunity rather than a major structural change.

CBDC Digital CN

John Winchcombe

17 Dec. 2021

7 min read

The Importance of Evidence Based, Customer Led Design

OMFIF’s Digital Monetary Institute has worked with Giesecke + Devrient (G+D) to issue a paper ‘Consumer Attitudes to CBDC: considerations for policy makers’. The paper includes an introduction to CBDCs and an overview of the rationale for CBDCs, the work being done around the world and the challenges being addressed.

CBDC Digital CN

John Winchcombe

6 Dec. 2021

5 min read

Cryptocurrency News

Four recent stories about digital payment crime highlight the changing profile of financial crime from payment cards to cryptocurrencies.

Digital CN

John Winchcombe

6 Dec. 2021

4 min read

CBDC News

The latest Bank for International Settlements (BIS) Innovation Hub has been opened by the Federal Reserve Bank of New York, joining Hong Kong, London, Singapore and Switzerland.

Digital CN

John Winchcombe

3 Dec. 2021

10 min read

CBDC and Cryptocurrency News

The Deputy Governor of the Bank of Jamaica (BOJ), Natalie Haynes, has put its work on CBDCs in the context of the government’s financial inclusion strategy. The BOJ sees a CBDC as an important tool in allowing people to access financial services and products.

CBDC Digital CN

John Winchcombe

13 Nov. 2021

10 min read

‘CBDC: Motives, Economic Implications and the Research Frontier’ - A Summary

The Bank for International Settlements (BIS) wrote an article for the Annual Review of Economics that laid out work done on Central Bank Digital Currencies (CBDCs) to date. The paper puts CBDCs in context of all payment methods and considers why and how CBDCs are being developed and the challenges central banks are grappling with.

CBDC Digital CN

John Winchcombe

12 Nov. 2021

4 min read

CBDC News

The Monetary Authority of Singapore (MAS) ran a global retail CBDC challenge competition with the results announced at the Singapore Fintech festival. It received 300 submissions from over 50 countries.

CBDC Digital CN

John Winchcombe

12 Nov. 2021

1 min read

BIS Introduces a Note of Caution

The Bank of International Settlements (BIS) has issued a paper ‘What does digital money mean for emerging market and developing economies?’. The paper questions whether stablecoins are the answer to all problems and whether other digital solutions have a role to play.

CBDC Digital CN

John Winchcombe

4 Nov. 2021

3 min read

CBDCs and Privacy

Whether CBDCs are designed as token- or account-based, regulations such as those governing money laundering and the funding of terrorism mean total anonymity/privacy is not possible. Given that while privacy is highly valued in principle, the public take little to no action to safeguard their privacy in practice, is it so important?

Digital CN Editorial

John Winchcombe

4 Nov. 2021

4 min read

Round-Up of CBDC News

With under 100 days to go to the winter Olympics, China is encouraging domestic and foreign retailers to enable payment using the e-Yuan, China’s CBDC. Although foreign visitors will not be able to travel to China for the Olympics, it continues to work towards having the e-Yuan up and running.

CBDC Digital CN

John Winchcombe

26 Sept. 2021

2 min read

Digital Currency News - News about CBDCs

The subject of Central Bank Digital Currencies (CBDCs) has moved from ‘vague awareness’ in around 2016 to ‘big news’ today. To help people keep up, the publishers of Cash & Payment News™ (CPN) have decided to start publishing a weekly newsletter dedicated to CBDCs.

Digital CN News

John Winchcombe

13 Sept. 2021

3 min read

DNB Quick Guide to CBDCs

In April 2020 Harro Boven and Peter Wieters published a Dutch National Bank (DNB) Occasional Study on the objectives, pre-conditions and design choices for Central Bank Digital Currencies (CBDCs). Harro wrote an abridged version that was used in Payers December publication about CBDCs which is summarised here.

Digital CN

John Winchcombe

13 Sept. 2021

9 min read

Legal Aspects of CBDCs: Central Bank and Monetary Law Considerations

This paper opens asking three questions from a legal perspective; Do central banks (CBs) have the authority to issue digital currency? Can Central Bank Digital Currencies (CBDCs) be real ‘currency’? Should digital currency be legal tender?

Digital CN

John Winchcombe

9 Sept. 2021

9 min read

Central Bank Digital Currency: A Review of Bank of Canada Papers

This year the Bank of Canada has published 9 staff analytical notes and staff working papers discussing Central Bank Digital Currencies (CBDCs). As the most recent paper says, as a contingency the Bank of Canada is looking to build its capability to issue a cash-like retail denominated CBDC.

Digital CN

John Winchcombe

2 Sept. 2021

5 min read

A Busy Month for CBDCs

On 12th October the European Central Bank (ECB) opened a public consultation on the creation of a Digital Euro, a Central Bank Digital Currencies (CBDCs). The logic is that the increased usage of digital payments may mean that a Digital Euro is needed to safeguard citizens.

Digital CN

John Winchcombe

5 March 2021

3 min read

CBDC Risks Becoming a Gigantic Flop

If Central Bank Digital Currencies (CBDCs) do not solve a real problem, then they will fail. In a recent paper by Peter Bofinger and Thomas Haas, Professor for Monetary Policy and International Economics and Research Associate and Chair for Monetary Policy and International Economics respectively at the University of Wurzbürg, they throw doubt on whether central banks have found a compelling need for CBDCs.

CBDC Digital CN

John Winchcombe

22 Dec. 2020

5 min read

CBDCs – Making Good Choices

In January the Blockchain and Distributed Ledger Technology team from the World Economic Forum (WEF) in the US issued a comprehensive toolkit to help central banks develop their Central Bank Digital Currency (CBDC) policy by giving them a step by step process to follow, supported by detailed worksheets.

CBDC Central Banks Digital CN

Latest News

Cryptocurrency Induced Systemic Risk

OMFIF European Payments and Digital Assets Conference - CBDCs on the Agenda

The Importance of Evidence Based, Customer Led Design

Cryptocurrency News

CBDC News

CBDC and Cryptocurrency News

‘CBDC: Motives, Economic Implications and the Research Frontier’ - A Summary

CBDC News

BIS Introduces a Note of Caution

CBDCs and Privacy

Round-Up of CBDC News

Digital Currency News - News about CBDCs

DNB Quick Guide to CBDCs

Legal Aspects of CBDCs: Central Bank and Monetary Law Considerations

Central Bank Digital Currency: A Review of Bank of Canada Papers

A Busy Month for CBDCs

CBDC Risks Becoming a Gigantic Flop

CBDCs – Making Good Choices

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