Co-founded by consulting giant Accenture, The Digital Dollar Project (DDP) is all set to kickstart pilot tests for the U.S. central bank digital currency (CBDC) over the next year to test its design and use cases. For this, Accenture has entered a non-profit partnership with the Digital Dollar Foundation. The report comes just at a
The Chinese central bank – People’s Bank of China (PBoC) – has expedited its efforts on launching its central bank digital currency (CBDC) Digital Yuan. However, the U.S. isn’t quite worried at this point regarding the development of China’s CBDC, said Federal Reserve Chairman Jerome Powell. On Wednesday, April 29, the Fed chairman Jerome Powell
Alipay and WeChat Pay the two dominant players in China’s online payments marketplace are all set to see tough competition from the country’s very own central bank digital currency (CBDC) aka Digital Yuan. On Thursday, March 25, speaking during a panel discussion organized by the Bank of International Settlements (BIS), Mu Changchun, director of the
Former Ripple CEO and co-founder Chris Larsen recently spoke out his mind on crypto regulations in the U.S. and the lack of clarity. Speaking to the Fortune reporter Jeff John Roberts, Larsen said that excessive regulations have been hurting innovation. Thus, they are planning to move the Ripple headquarters from San Franciso to other crypto-friendly
China is well ahead in the development of the CBDC, while other countries are catching up, the United States is still the nascent stages of developing the digital dollar. However, the former Chairman of the CTFC recently urged the government to probe the matter. “Future-Proof The Dollar For A Digital Tomorrow” Cryptocurrencies are mostly decentralized
The realm of cryptocurrency is expanding with DeFi, but stablecoins (and digital FIAT) are starting to threaten the principles and on-boarding of cryptocurrencies altogether. Recently, USDC issuer CENTRE called on a blacklist function to restrict the account of activities of the associated Ethereum address. This goes against the principles of censorship resistance and cryptocurrencies altogether.