Request For Information (RFI) within the framework of the e-krona project
The Riksbank published a request for information (RFI) aimed at gaining an understanding, prior to a potential future procurement of an e-krona system, of what possible suppliers and technical options can form the basis for an operational e-krona. [Read more]
Namibia’s central bank plans to introduce digital currency
Namibia’s central bank will be publishing a central bank digital currency (CBDC) consultation paper in order to elicit feedback from interested parties. Bank of Namibia Governor Johannes Gawaxab reportedly said at the launch’s Q&A session that surging cryptocurrencies “raised the possibility of a financial world operating outside the control of governments and central banks. There is thus a need for central banks to have a clear digital currency agenda to reinforce central bank authority over money and maintain control over the payment system.” [Read more]
e-CNY now a payment option on WeChat Pay in all pilot areas
WeChat can now open digital yuan wallets by registering through Tencent-backed WeBank, so they can make payments and transfer money digital yuan directly within WeChat. The expanded feature comes after the People’s Bank of China (PBoC) recently expanded the e-CNY pilot areas to 23 cities and special zones. [Read more]
Central bank digital currencies, community currencies, and the reinvention of money
This article makes a case for community (or complementary) currency backed by a CBDC to democratize money creation. The authors show that community currencies can have higher multiplier effects on local expenditure, allow central banks to control circulation velocity, and help countries in currency crises. For example, communities can build smart contracts into their currencies, incentives to “nudge” users toward green services and other pro-social expenditures. [Read more]
Robinhood to Use Lightning Network for Bitcoin Transactions
Stock and cryptocurrency trading app Robinhood is making plans to add the Bitcoin Lightning Network to its platform for speedier Bitcoin transactions. It also shared that eligible users from its beta crypto waitlist can now send and receive crypto through its crypto wallet feature. Robinhood currently offers trading in Bitcoin, Ethereum, Dogecoin, Litecoin, Ethereum Classic, Bitcoin Cash, and Bitcoin SV, with adding crypto deposits and withdrawals being the next natural step the company is taking into crypto. [Read more]
The Infuriating Reality of Traveling with Bitcoin in the World’s Crypto Capital
A Bloomberg reporter tells the story of how he tried to pay all his bills in El Salvador in Bitcoin using the Chivo wallet during a five-day visit. It didn’t go so well. Only 10 of almost 50 businesses had taken his Bitcoin, amounting to $485 out of $1,700 he spent. And only four crypto transactions had been entirely seamless. He also paid $40 in Bitcoin fees, such as levies for transferring the currency between Coinbase and his digital wallet. His Visa, by contrast, paid him $20 in cash-back rewards. [Read more]
Upcoming events I’m affiliated with:
The CBDC Think Tank is hosting several webinars over the next month:
- On April 20 (at 08:00 EST) the Bank of Kazakhstan will present on their Digital Tenge retail CBDC project. [Register here]
- On April 27 (at 08:00 EST) the BIS and the Swiss National Bank will present on their Project Helvetia wholesale CBDC work. [Register here]
- On May 3 (at 08:00 EST) the Bank of Ukraine will present on their E-Hryvnia retail CBDC project. [Register here]
Satoshi Capital Advisors is hosting a virtual workshop on wholesale CBDC, stablecoins and digital capital markets on May 24 (starting at 08:00 EST). [Register here with the passcode: CBDC]
