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Global race to harness blockchain technology gathers pace The vice-chairman of the China Centre for International Economic Exchanges (CCIEE), Huang Qifan, says the country is determined to develop the world’s first sovereign digital currency. In a speech Huang stated: “The People’s Bank of China has been studying DCEP (digital currency electronic payment) for five or six …

China vows to launch the world’s first national digital currency Read More »

By Alun John HONG KONG (Reuters) – China’s digital currency will create a “horse race” when it is launched as commercial banks and other institutions compete to provide the best services using the new form of money, a central bank official said on Wednesday. China is preparing to be the first country to roll out …

CHINA’S DIGITAL CURRENCY WILL KICK OFF ‘HORSE RACE’: CENTRAL BANK OFFICIAL Read More »

CircCircle CEO Jeremy Allaire believes that China’s developing “cryptocurrency” could propel the yuan to worldwide renown as a global reserve currency. Speaking to CNBC’s Squawk Box, Allaire highlighted the budding prospects of the central bank digital currency (CBDC), suggesting that it could act as the “mechanism” for worldwide adoption of the yuan. “I look at this really meeting several …

China’s Crypto Could Become a Global Reserve Currency: Circle CEO Read More »

Facebook CEO Mark Zuckerberg was at least half right when he recently told the United States Congress that there is no US monopoly on regulation of next-generation payments technology. You may not like Facebook’s proposed Libra (pseudo) cryptocurrency, Zuckerberg implied, but a state-run Chinese digital currency with global ambitions is perhaps just a few months …

The high stakes of the coming digital currency war Read More »

Here is my final illustration “Central Banks Worldwide Race To Launch Own Digital Currencies”, inspired and drawn in a ‘Rick and Morty‘ illustration style. The human figures scurry around building their rockets to launch, alongside the central banks. ————————————————————– Several central banks in different countries are considering implementing some form of Central Bank Digital Currency …

Central Banks Worldwide Race To Launch Own Digital Currencies Read More »

China’s central bank may launch its own digital currency in the next 18 months amid strong endorsements of blockchain from the highest levels of government, signaling a desire for China to be self-reliant and globally competitive and adding another dimension to the growing U.S.-China tech rivalry. “China is making these very large macro plays,” says Mike Wasyl, managing …

Why China’s Digital Currency Is a ‘Wake-Up Call’ for the U.S. Read More »

China’s proposed digital currency could trigger global use of the yuan, according to the CEO of American cryptocurrency financial services firm Circle. The People’s Bank of China (PBOC) last month announced that it’s close to launching its own digital currency, saying that the rationale behind the move is to “protect” its foreign exchange sovereignty. This becomes a mechanism …

China’s new digital currency could encourage worldwide use of the yuan, says CEO Read More »

Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft cryptocurrency bill. Also …

Central Banks Worldwide Testing Their Own Digital Currencies Read More »

Circle CEO Jeremy Allaire recently made his case on why the People’s Bank of China (PBoC) issuing its own cryptocurrency might be a massive boost for the yuan. In fact, it could propel it to increased global status. The Chinese government has been looking to position the yuan as a strong alternative to the U.S. …

How China’s New Digital Currency Could Facilitate Use of the Yuan Worldwide Read More »