Bank of Korea: Costs Could Limit Cryptocurrency Use

Bank of Korea: Costs Could Limit Cryptocurrency Use

South Korea’s central bank has published a new working paper on cryptocurrencies. Drafted by researchers from the Bank of Korea and Seoul’s Hongik University, the paper seeks to identify factors that could drive the use of a blockchain-based currency over...
Decentralizing Central Banks: How R3 Envisions the Future of Fiat

Decentralizing Central Banks: How R3 Envisions the Future of Fiat

The future of central banks could be either on an open, permissionless blockchain or a closed, permissioned distributed ledger, according to a paper released today by bank consortium R3. That is, assuming anything changes at all. Already, the global institutions that...
Singapore’s Central Bank Completes Digital Currency Trial

Singapore’s Central Bank Completes Digital Currency Trial

Singapore’s central bank has completed a distributed ledger trial focused on inter-bank payments, officials said today. The Monetary Authority of Singapore (MAS) announced the test in November, working with the R3 banking consortium and a group of member banks that is...
Fed Governor Voices Caution on Central Bank Digital Currencies

Fed Governor Voices Caution on Central Bank Digital Currencies

Central bank-issued digital currencies could stifle private-sector payments innovation, a senior Federal Reserve official said today. Federal Reserve board governor Jerome Powell took critical aim at the concept of a central bank-issued digital currency during a...
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