Learn about the latest developments in digital currencies of 16 central banks in one article
From the beginning of June to the beginning of July, news about the digital currency of the central bank in many countries continues. Let’s take a look with 52cbdc~
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China
According to a Caixin report on July 8, Didi, Meituan Dianping and Bilibili (Bilibili) have all cooperated with a number of banks involved in digital currency projects. Among them, Meituan Dianping may try to expand usage scenarios such as Meituan bicycles, while the cooperation between Bilibili and participating banks has entered the stage of technology development. In addition, companies such as ByteDance are also discussing the possibility of cooperation with banks.
Japan
Japan
Europe
Europe
In early July, Panetta, the executive member of the European Central Bank, stated that the central bank digital currency (CBDC) may have an impact on monetary policy. The ECB is a pioneer in exploring the possibility of central bank digital currency (CBDC) plans. The euro's global potential has not yet been fully realized, but the right policies can. In addition to the immediate impact of the crisis, the acceleration of the digitization of monetary policy could have implications for the global status of the euro. A central bank digital currency will have implications for the euro in areas such as monetary policy, financial stability and payment systems, requiring a thorough assessment. If the central bank digital currency is allowed to be used outside the euro area, it is likely to have an impact on the global monetary and financial system.
South Korea
South Korea
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Lithuania
Earlier news, the Central Bank of Lithuania is testing a central bank digital currency (CBDC). The digital currency LBCoin is based on the NEM blockchain and is scheduled to launch in July. The Bank of Lithuania has previously been experimenting with blockchain for more than two years. However, the digital currency is used by almost no one and is a commemorative digital token. Officials said none of the store owners had the e-wallets necessary to accept LBCoin. Andrius Adamonis, head of innovation at the bank and blockchain project manager, said LBCoin would be a very interesting project because some say it is like a small-scale experiment with a CBDC.
On July 2, Lithuania stated that it will issue the first digital currency LBCoin produced by the central bank in the euro zone and will start pre-sale next week. Each token features a portrait of one of the 20 people who signed the Lithuanian Declaration of Independence in 1918 and will be sold in packs of six for 99 euros, totaling 24,000. Marius Jurgilas, deputy governor of the Central Bank of Lithuania, said that LBCoin is very similar to a so-called central bank digital currency (CBDC), putting Lithuania at the forefront of the development of legal digital currencies.
USA
USA
Kazakhstan
Kazakhstan
At the end of June, experts from Kazakhstan, Russia, China and other countries gathered at the "2020 Astana Online Finance Day" to discuss the digital currency plans and strategies of the central banks of relevant countries. The development of blockchain technology has given new practical significance to digital currency. In May 2020, Kazakh President Adviser Musin suggested the introduction of blockchain technology and digital tenge, aimed at combating corruption and ensuring transparency in the allocation of state budget funds. In June, Kazakhstan passed the "Blockchain and Digital Technology Development Outline". In 2019, Kazakhstan’s digital currency mining project attracted 82.6 million tenge, and in 2020, the scale of investment will increase by another 80 million tenge.
Canada
Canada
The Bank of Canada issued a recruitment announcement on June 11, in which a project manager’s recruitment notice read: “The Bank of Canada is embarking on a plan of great social significance to design a temporary system for CBDC that can be Treated as banknotes, but in digital form."
Sweden
Sweden
Singapore
Singapore
Cambodia
Cambodia
Thailand
Thailand
Venezuela
Venezuela
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Belarus
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U.K.
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Ghana
Central Bank of Ghana (BoG) Chief Deputy Governor Maxwell Opoku Afari told a seminar on June 8 that the bank remains committed to piloting a central bank digital currency (CBDC). This spring, the central bank of Ghana launched a fintech innovation office in response to major changes in the payments industry. Despite some approaches to encourage electronic cash transactions, Opoku Afari emphasized that the specific CBDC pilot program still has a similarly solid foundation.
The above are the latest developments of central bank digital currencies from June to early July. From the above news, we can see that many countries have made substantial progress in the research and development of central bank digital currencies, and circulation and use may be just around the corner. Of course, many countries are still Do further research and judgment on the central bank's digital currency CBDC, and analyze the feasibility of its issuance, etc. For more information about the latest news and subsequent development trends of CBDC in various countries, don't forget to pay attention to 52cbdc.
