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“In Japan, the amount of cash outstanding is still increasing, and it does not seem that there is a demand for CBDC from the public at present. Nevertheless, the Bank of Japan has been conducting technical and legal research on this matter in order to stand ready when the need for CBDC may arise in the future.”tags: Fintech CryptoAssets
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“The ECB will continue to assess the costs and benefits of issuing a central bank digital currency that could ensure that the general public will remain able to use central bank money even if the use of physical cash eventually declines. Prospects of central bank initiatives, however, should neither discourage nor crowd out private market-led solutions for fast and efficient retail payments in the euro area.”tags: Fintech CryptoAssets
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We are particularly keen to take part in experiments to integrate a “wholesale” CBDC into innovative procedures for exchanging and settling tokenised financial assets. Our actions will naturally contribute to the work of the Eurosystem, which should make looking into the possibility of an “e-euro”… Beyond this, we intend to take part in the work of the BIS Innovation Hub.
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Despite defections, his cryptocurrency project still has the support of 21 organizations and has more than 100 of the social network’s employees working on it.
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On November 18, 2019, the UK Jurisdiction Taskforce, which is part of The English Law Society’s LawTech Delivery Panel, published its Legal Statement on the status of cryptoassets and smart contracts (the Legal Statement).
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State Street has taken a new direction with its blockchain strategy and cut scores of developer jobs in the process. The focus is now more on digital assets such as tokenized stocks and bonds through to crypto-assets, rather than the heavy lifting work of re-plumbing front to back office with distributed ledger technology.
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With young people snubbing cash altogether, parents and grandparents now are being forced to join in if they want to compensate them for chores or babysitting.
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Though the growth of finance apps has become a global phenomenon, it is Asia-Pacific that’s leading the trend, according to a new report by mobile measurement company Adjust and mobile data and analytics platform App Annie.tags: Fintech MobileMoney
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Sending money home can be an expensive business. But it doesn’t have to be. Digital currencies offer the possibility of lower fees, giving rise to more frequent and cheaper transactions. This has implications for the FX world, particularly the dollar.
Kiffmeister’s Fintech Daily Digest 12/04/2019
