The latest developments in the digital currency of the central banks of many countries
China
China
Japan
Japan
In mid-July, according to Nikkei News, Japan is considering cooperating with other countries on the Central Bank Digital Currency (CBDC). On July 20, Reuters said that the Bank of Japan had newly established a CBDC working group. Cointelegraph Japan further reported on the incident that the digital currency team established this time reorganized the digital currency research team established by the Bank of Japan in February this year. The size of the team is 10 people. Although it is the same as the previous research team, the team has full-time staff, and the team leader is Satoo Okuno, the review officer of the payment and settlement system department. The new group aims to facilitate the digitization of the entire payment system as well as research into central bank digital currencies (CBDC).
Cambodia
Cambodia
Russia
Russia
the Philippines
the Philippines
According to a Bloomberg report at the end of July, the Central Bank of the Philippines is studying to issue its own cryptocurrency. Philippine Central Bank Governor Benjamin Diokno said the bank has formed a committee to study the feasibility and policy implications of issuing a central bank digital currency. He said the panel's findings, with preliminary findings expected to be published next month, must be seen before making a decision. However, he said that he has not seen the development of digital currencies affect the demand for fiat currencies. Cryptocurrency has always been more than just an asset itself, but more dependent on the blockchain technology that supports it.
czech republic
Kazakhstan
Kazakhstan
jamaica
jamaica
U.K.
U.K.
The Bank of England's central bank, the Bank of England (BoE), is studying whether it should create a central bank-backed digital currency, Bank of England Governor Andrew Bailey said. "We're going to keep working on it because this really could have a huge impact on the nature of payments and society."
Japan, the United States and Europe G7 G7
On July 20, Kyodo News reported that the Group of Seven (G7) countries in Japan, the United States and Europe basically decided to cooperate on the issuance of central bank digital currency (CBDC). It is planned to coordinate discussions at the summit meeting (G7 summit) held in the United States from the end of August to the beginning of September, and share practical issues and the wisdom of various countries.
Regarding central bank digital currency, we can learn from the news released by various countries that countries have different attitudes and research and development speeds towards the issuance of central bank digital currency. Many of these small and medium-sized countries are relatively active, open and rapid in research and development, and many countries have announced that they will issue their own central bank digital currencies within this year. Countries with relatively large economies and developed economies, such as China, the United States, and Japan, are relatively cautious in issuing central bank digital currencies. China has entered an orderly pilot stage, but has not announced when it will issue . Countries such as Japan and the United States have invested in active and in-depth research and development, but it may take time before the pilot and release.
At the same time, some countries have expressed that they do not need to issue central bank digital currencies at present, but do not rule out the possibility of issuing them in the future. Therefore, most countries do not reject the development trend of digital cash, but the stage is different, the environment is different, and the time to issue central bank digital currency is also different sooner or later. This is what we can predict. The development tone of digital legal currency has a high probability of laying the foundation for the coming of a cashless society in the future.
The development speed and popularity of China's electronic payment tools have taken precedence over most countries. According to the report of the central bank, in 2018, the proportion of adults using electronic payment in the country reached 82.39%. The Consumer Insights Survey shows that globally, 86% of China uses mobile payment, and the penetration rate ranks first in the world. Presumably, the acceptance of digital fiat currencies will be faster and more active, what do you think?
