Last month, we reported that the bank was thinking about issuing a digital currency. The proposal was part of a draft that seeks to ban “high-risk” crypto projects. The ECB’s target is Libra, the global digital currency developed by Facebook, which has been repeatedly criticized by European leaders.
Different forms of currency have been used over the ages — such as seashells, wampum and metal coins — and in more recent times, bank notes made from paper and plastic are in wide circulation.
Should Brussels back its own cryptocurrency?
Worldwide testing of Digital currencies by Central Banks
HONG KONG, CHINA / ACCESSWIRE / December 4, 2019 / The global launch of the Asia Currency Unit (ACU) white paper will be held in Hong Kong, the Asia Pacific financial center, on 16 December 2019. At that time, authoritative representatives from more than 50 countries will gather to witness ACU's new great journey.
Several central banks in different countries are considering implementing some form of Central Bank Digital Currency (CBDC). Uruguay has reportedly launched a CBDC pilot program already, while the Bahamas, China, Canada, Sweden, Eastern Caribbean Currency Union and Ukraine are “on the verge” of testing their systems.
HONG KONG (Reuters) – China’s digital currency will create a “horse race” when it is launched as commercial banks and other institutions compete to provide the best services using the new form of money, a central bank official said on Wednesday.
The vice-chairman of the China Centre for International Economic Exchanges (CCIEE), Huang Qifan, says the country is determined to develop the world’s first sovereign digital currency.