Kiffmeister’s #Fintech Daily Digest (08/19/2021)*

Bank of Thailand publishes CBDC study results, pilot test to start in 2022

The Bank of Thailand published the results of its retail central bank digital currency (CBDC) study that will guide the development of CBDC pilot tests. It concludes that the CBDC should be cash-like and non-interest bearing, and intermediaries such as financial institutions would distribute the CBDC to the general public. A “Foundation Track” pilot will begin in Q2 2022 and will involve using the currency to conduct cash-like activities at a limited scale. An “Innovation Track” will explore use cases for the CBDC with participation from the private sector and technology developers. 

CBDC or CBD? …That is the question!

@Nikita97301494 indirectly brought to my attention a connection between CBDC (central bank digital currency) and CannaBCoin (also CBDC). According to CoinCheckup, “CannaBCoin will provide a decentralized payment network for the legal cannabis industry. CannaBCoin has already set up agreements with major companies in the Europe, forming the CannaBCoin Alliance. The CannaBCoin Alliance works with legislators to solve the current paradox in the market. By implementing supply chain management and a trust and reputation layer, CannaBCoin aides legislators in creating a healthy and transparent market.”  

Liquid exchange hacked to the tune of $80 million

Japanese crypto exchange Liquid has been hacked, with about $80 million in digital assets moved off the platform. The exchange confirmed the security breach in a Thursday tweet, with Liquid revealing the wallet addresses implicated in the breach. The exchange noted that only its warm wallets were affected, adding that its assets are currently being moved into cold storage. 

Australia and Singapore conclude digital verification blockchain pilot

The Australian Border Force, Infocomm Media Development Authority of Singapore and Singapore Customs, along with other industry representations, have concluded a blockchain trial project analyzing the status of the countries’ digital verification systems in issuing and verifying trade documents.  QR-codes embedded with unique proofs are inserted into digital certificates of origin, enabling immediate verification for authenticity and integrity of the document when scanned or machine-read. It was concluded that “digital verification and verifiable documents show promise as a ‘circuit-breaker’ to disrupt persistent paper-based evidence required by authorities.” 

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