China proposed a set of global rules for central bank digital currencies on Thursday, from how they can be used around the world to highly sensitive issues such as monitoring and information sharing.
Ripple has been making headway in pursuing projects involving central bank digital currencies. RippleX’s Vice President James Wallis disclosed that the company has expanded by building a core ledger which can be used to mint central bank digital currencies (CBDC). Like many in the industry, Wallis thinks that blockchain technology will bring digital payments to the next level by ensuring faster speed, lower costs, and reliability. He said to Rudolf Falat, the host of the “Voice of FinTech” podcast in an interview:
The Bank of International Settlements (BIS) Innovation Hub listed its priorities and programs for 2021 Friday, among which will be a new platform for testing wholesale central bank digital currencies (CBDCs).
Every day, it seems, brings a new privately issued crypto-asset to the fore. But the official sector has not gone dormant. Several central banks, including the Bank of Canada, Bank of England, Norges Bank, and Sveriges Riksbank are actively investigating the possibility of issuing central bank digital currency (CBDC).