New York Fed Launches the New York Innovation Center
The New York Fed launched the New York Innovation Center (NYIC), to advance a strategic partnership with the Bank for International Settlements (BIS) Innovation Hub. As part of the New York Fed, the NYIC is collaborating with the Federal Reserve System, the BIS Innovation Hub, and public and private sector experts to validate, design, build, and launch new financial technology products and services for the central bank community. [Read more]
Bank Indonesia Mulls Digital Currency as a Way to ‘Fight’ Crypto
Bank Indonesia has reportedly been considering issuing a central bank digital currency (CBDC) since the start of 2021, as a tool to fight crypto, according to Juda Agung, an assistant governor at the central bank. He spoke in parliament while undergoing a fit-and-proper test to be named deputy governor. “We assume that people would find CBDC more credible than crypto. CBDC would be part of an effort to address the use of crypto in financial transactions.” [Read more]
ASX starts tests of blockchain post trade solution, but regulator is watching
Australian stock exchange ASX unveiled the first iteration of its Industry Test Environment (ITE1) for its blockchain post-trade solution CHESS. The solution uses Digital Asset’s DAML smart contract language and VMWare’s Blockchain. While today’s announcement is for developers, end users will access another iteration of the test environment from April 2022, with an April 2023 planned launch date. [Read more]
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Upcoming Virtual Conferences at Which I’m Speaking:
1st Annual Central Bank Conference on Development Economics in the Middle East and North Africa
I’ll be moderating a session on CBDC at the “1st Annual Central Bank Conference on Development Economics in the Middle East and North Africa”, hosted by the World Bank and the Central Bank of Tunisia tomorrow (December 1) from 10:30am to noon (ET). [Register here (it’s free!)]
