DPF Response to the Consultation on the digital Pound and accompanying Technology Working Paper
The Digital Pound Foundation (DPF) takes pleasure in responding to the Bank of England and HM Treasury’s (HMT’s) Consultation on a Digital Pound (the “Consultation”), and to the Bank of England’s accompanying Technology Working Paper on the digital pound. The DPF’s stated remit is to advocate for and support the implementation of a well-designed digital […]
IMF promotes XC platform for tokenized cross border payments
Source: Ledger Insights Yesterday, the IMF published a paper building on last year’s proposal for XC, a platform to create a global centralized ledger for cross-border payments. The platform would allow commercial banks and other payment providers to participate alongside central banks and likely forgo the need for multiple wholesale central bank digital currency (CBDC) projects. Although a […]
EU Legislation for Digital Euro Is Put on Hold
Source: Coindesk European Union legislation needed to underpin a digital euro, originally due to be published June 28, has been put on hold, CoinDesk has been told. The move follows the leaking of the draft bill, which covers privacy and technical issues for the central bank digital currency (CBDC), and a statement by finance ministers […]
IMF working on global central bank digital currency platform
Source: Reuters The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries: we need interoperability,” Georgieva […]
UK Crypto, Stablecoin Laws Approved by Parliament’s Upper House
Source: Coindesk U.K. parliamentarians have voted through a new bill that could recognize crypto as a regulated activity in the country. The approval of the Financial Services and Markets Bill (FSMB) on Monday by Parliament’s upper chamber, the House of Lords, means the bill is going to enter the final stages before it is put […]
Quant collaborates with BIS and the Bank of England on Project Rosalind
Source: Quant We’re proud to announce our role as part of the vendor team for Project Rosalind. The project, led by the Bank for International Settlements and the Bank of England, explored how application programming interfaces could be used for central bank digital currency systems. Project Rosalind, directed by the BIS Innovation Hub London Centre, […]
The Nature of Money: The Role of Currency in the Digital Era | Poundcast Episode 9
In episode 9, our host Jannah Patchay speaks to Kene Ezeji-Okoye, Co-Founder and Co-CEO of Millicent Labs. In this episode, Jannah and Kene discuss the rise of digital currencies in the context of digital fiat, how central banks reacted to the advent of stablecoins and in particular the potential threat posed by Facebook’s Libra / […]
UK Crypto Think Tank Warns Government of CBDC Privacy, Security Risks
Source: Decrypt While there are a “number of potential benefits” associated with central bank digital currencies (CBDCs), the UK government “should carefully consider and seek to mitigate any potential risks” associated with the development and potential introduction of the so-called digital pound.” This is particularly relevant “in relation to financial stability, privacy, and security risks,” […]
CBDCs can help protect against surveillance capitalism
Source: OMFIF, written by Lewis McLellan Among digital privacy advocates, the launch of central bank digital currencies is often greeted with suspicion and alarm. On both sides of the Atlantic, there are concerns that CBDCs represent an opportunity for the state to obtain greater oversight over payments systems. In Europe, protesters demonstrated against a digital euro […]
Bank of England awards digital pound ‘sample wallet’ contract
Source: Global Government Fintech The Bank of England (BoE) has inked a contract with a consultancy to develop a central bank digital currency (CBDC) digital wallet proof-of-concept as it looks to ‘make the CBDC product more tangible’. A decision has yet to be made on whether to introduce a digital pound. But the central bank, […]
