On 16 December 2019, the World Digital Currency Forum launched a global launch conference and the ACU white paper launch conference in Hong Kong.
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
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.