Financial exclusion is a global problem affecting millions of people, through strategic design and implementation, could CBDCs be the solution?
Like many interested in the crypto space, Crapo has asked for months about the stablecoin report.
There are a number of fintech themes coming out of 2021 that will have a dramatic impact on the industry in 2022. Here are our top seven trends: Buy now pay later, fintechs going public, overdraft fees, embedded finance, cash flow underwriting, CBDCs and Web3.
In this week's LendIt TV session we learned about the state of central bank digital currencies (CBDCs) with experts from the USA, Europe, and China.
Since before bitcoin blew up in 2018, leading financial minds the world over have been researching the implications of institutionally created currencies for use as digital cash, to settle interbank deposits, and for monetary policy development.
With an SEC lawsuit clouding the coverage of Ripple, their cross-border disruption seemed subdued. The company then launched a CBDC platform.
With more services becoming digital, a digital currency seems to be the perfect solution to streamline the digital revolution further.
Their website mentions names such as 'digital sterling' or 'Britcoin' and emphasizes the difference between CBCDs and cryptocurrencies.
Gov. DeSantis has said that Florida won't accept a CBDC, due to privacy and surveillance concerns. Stonewalling could be part of the problem.
Globally, investigation into how CBDCs will be designed is being done. With Web3 development in the sidelines, banks could be affected.
Digital Identity is an aspect of CBDC design causing much debate. For some, it is the end of freedom, others dub that "unnecessarily alarmist."