Industrial Bank (CIB) introduces carbon credit rewards for digital yuan use, promoting green finance and expanding the e-CNY ecosystem.
The post China’s Industrial Bank rewards digital yuan spending with carbon credits appeared first on Crypto Briefing.
Former President Donald Trump is continuing to express his support for the crypto industry, saying that he will protect the right of 50 million Americans to self-custody digital assets. Speaking to his supporters in Washington D.C., the 2024 Republican candidate says that he’s going to “crush” the Biden Administration’s anti-crypto stance. Trump goes on to […]
The post Donald Trump Promises To Protect the Future of Bitcoin and Crypto in the United States, Says He Supports Right to Self-Custody appeared first on The Daily Hodl.
The Central Bank of Brazil announced the postponement of the completion of the drex pilot, the Brazilian CBDC, due to the inefficiency of the privacy solutions presented for the project so far. The pilot will have a new phase, finalized in 2025, and will also feature the implementation of smart contracts to nurture use cases […]
The House of Representatives has passed Congressman Tom Emmer’s CBDC Anti-Surveillance State Act, which prohibits the Federal Reserve from issuing a surveillance-oriented central bank digital currency (CBDC). The lawmaker emphasized that the bill protects American values of privacy and individual sovereignty, countering potential governmental overreach. CBDC Anti-Surveillance Act Clears House Following the passage of the […]
The US House of Representatives just passed a bill aimed at preventing the Federal Reserve from launching a Central Bank Digital Currency (CBDC) without Congressional authorization. Republican Majority Whip Tom Emmer sponsored H.R. 5403, known as the CBDC Anti-Surveillance State Act, with the stated goal of protecting Americans’ right to privacy. “My legislation ensures that […]
The post US House Passes Bill Banning Federal Reserve From Launching Central Bank Digital Currency appeared first on The Daily Hodl.
Project DESFT is meant to encourage trade between small businesses using a CBDC and a stablecoin, with an emphasis on credentialing.
The Bank of Ghana (BOG) and Monetary Authority of Singapore (MAS) have completed a proof-of-concept for the Digital Economy Semi-Fungible Token (DESFT) Project, according to various local press reports. The project is intended to encourage trade between micro, small and medium enterprises (MSMEs) in the two countries.
Within the project, live transactions have been carried out between the sides. To do so, they leveraged the Universal Trusted Credentials semi-fungible token protocol developed by the United Nations Development Program, according to Singapore-based Ample FinTech, which identified itself as the developer of the DESFT. The token contained verified licenses, certificates and trade records.
A stablecoin pegged to the Singapore dollar (XSGD) and the BOG’s e-cedi central bank digital currency (CBDC) were used for exchange within a Purpose Bound Money protocol on a distributed ledger.
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment […]
Onchain bitcoin analyst Willy Woo predicts that the leading cryptocurrency will reach the $1 million milestone within the next decade. During what he describes as “a time to be alive,” Woo anticipates witnessing a purge of central bank corruption. However, one of Woo’s followers envisions a Central Bank Digital Currency (CBDC), not bitcoin, replacing the […]
Opinion: From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.
People are taking notice more each day that central bank digital currencies, or CBDCs, are not worth the risk. Yet, to combat these concerns, some policymakers have been increasingly looking toward open-source coding as a way to offer transparency and perhaps win the public’s trust. But make no mistake, while transparency is welcome, it’s no silver bullet.
For those familiar with cryptocurrency, the concept of using open-source code needs no introduction. However, for those that might not be familiar, the concept simply refers to publicly publishing the source code behind a project instead of locking it away as confidential or a trade secret. For example, the code behind Bitcoin (BTC) is free and open for all to see.
Making a project open source has many advantages. For instance, doing so opens the doors for external audits. After a careful review, someone may find a vulnerability that wasn’t apparent to the original designers. Or, perhaps more concerningly, someone may find something nefarious embedded deep within the project.
The Bank of Thailand (BOT) has released a report on its Retail Central Bank Digital Currency (CBDC) pilot project, conducted using Giesecke+Devrient’s (G+D) technology solution. The project tested the digital version of the Baht and its potential for financial innovation, delivering key lessons on the capabilities of a CBDC in supporting multiple online and offline […]
