Tag: CBDC
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Philippines announces non-blockchain CBDC plans
The Central Bank of the Philippines has made an exciting announcement regarding the introduction of a Central Bank Digital Currency (CBDC). However, what sets their plans apart from other countries’ initiatives is that the Philippine CBDC will not be powered by blockchain technology. CBDCs are digital forms of a country’s official currency that are issued…
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South Korea plans a CBDC pilot in 2024
The South Korean government has recently announced its plans to conduct a pilot of Central Bank Digital Currency (CBDC) in 2024. This move highlights the country’s desire to stay at the forefront of financial innovation and digital transformation. CBDC refers to a digital form of fiat currency that is issued and regulated by the central…
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Mastercard demonstrates CBDC interoperability for Web3 commerce
Mastercard, a global leader in electronic payment technology, has recently showcased its commitment to paving the way for the future of commerce on the web by demonstrating interoperability of Central Bank Digital Currencies (CBDCs) in the Web3 ecosystem. The advent of Web3 technology promises to disrupt traditional online commerce by embedding decentralized principles into transactions…
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Congressional committee passes bill to thwart CBDC
Congressional Committee Passes Bill to Thwart CBDC In a significant move, a congressional committee has passed a bill aimed at preventing the implementation of a Central Bank Digital Currency (CBDC) in the United States. The bill’s approval is a reflection of growing concerns surrounding CBDCs and their potential impact on the economy, financial stability,…
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Swift starts testing interlinking CBDC solutions with three central banks
In an effort to drive innovation and enhance interoperability within the world of Central Bank Digital Currencies (CBDCs), Swift has announced its collaboration with three central banks to test interlinking CBDC solutions. This move signifies a significant step forward in the adoption and implementation of digital currencies in the global financial landscape. The Importance of…