Central Banking

Blockchain Startups Are Modernizing Iran’s Financial Infrastructure

| Leigh Cuen

Sources in Iran say the country's financial sector is taking clear steps toward a state-backed token economy.

Korean Central Bank Study: Issuing Digital Currency Poses Financial Risk

| Yogita Khatri

A Bank of Korea study concluded that a central bank digital currency could adversely affect commercial banks and ultimately financial stability.

Saudi Arabia, UAE Aim to Cut Payments Costs With Common Digital Currency

| Yogita Khatri

Saudi Arabia and the United Arab Emirates are hoping a shared digital currency can cut remittance costs between the two countries.

Bitcoin’s Proof-of-Work Algorithm Needs Replacing, Argues BIS Study

| Yogita Khatri

The proof-of-work algorithm used by bitcoin and some other cryptos is not viable in the long term, argues a Bank of International Settlements study.

South Africa’s Central Bank Proposes Rules for Crypto Companies

| Yogita Khatri

Crypto exchanges and wallet providers would have to register with regulators under rules proposed by South Africa’s central bank.

Africa Needs Open Currency Competition. It Needs Cryptocurrency

| Terence Zimwara

Africa's various currency crises illustrate why cryptocurrency innovation shouldn't be stifled, says economic analyst Terence Zimwara.

The Era of Central Bank Digital Currencies Is Within Reach

| Kevin Rutter

A phased roll-out of a central bank digital currency is not only possible, but may be what certain regions need, says R3's research lead.

ECB Official Calls Bitcoin ‘Evil Spawn of the Financial Crisis’

| Nikhilesh De

ECB executive board member Benoît Cœuré has discussed potential uses for blockchain at central banks, but he's really not keen on bitcoin.

IMF Chief Calls for Exploration of Digital Currencies

| Yogita Khatri

Christine Lagarde, head of the IMF, encouraged the exploration of central bank digital currencies in a speech on Wednesday.

Most Central Banks Back Digital Currency If DLT Improved: IBM Survey

| Wolfie Zhao

A new IBM survey finds most central banks polled back issuing a wholesale digital currency, but are still uncertain about blockchain's efficiency.