The Central Bank of the Bahamas announced that its Sand Dollar CBDC pilot project has ‘exceeded’ its expectation of 500 participants with enrollment currently at 1,200.
The MIT Digital Currency Initiative “Redesigning Digital Money” paper considers three important features from crypto-asset design – decentralization, programmability and privacy – and assesses their applicability to a central bank digital currency. bility to a CBDC.
As Stephen King said “sooner or later, everything old is new again!” In the 1990s Finland experimented with central bank digital currency in the form of its Avant stored-value card. It was never very popular and was discontinued in 2006.
“When people discuss the future of payments they tend to predict the end of cash. Our view is different. Not only does Deutsche Bank think cash will be around for a long time, it sees the transition to digital payments as having the potential to do no less than rebalance global economic power.”
Hedera Hashgraph appeared in 2019, and took the crypto world by a storm. Despite being a bit late to the game, Hedera Hashgraph quickly called itself a “Bitcoin Killer”, despite the failure of multiple projects to achieve that feat before it. But despite the fanfares at launch, all that the HBAR token managed to achieve was to go from $0.15 to $0.010 within a few months. The asset did not even have a relief rally, and its tokenomics and promises for smart contracts failed to appeal to the crypto community.
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The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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