Halt the Internet? BIS Report Critiques Blockchain and DLT Claims
The Bank of International Settlements harshly reviewed the idea of cryptocurrencies, though it was more accepting of the idea of distributed ledgers.
China is taking a great leap forward to develop a central bank digital currency, with more than 80 patents filed by the People’s Bank last week.
The working group will pool research into CBDCs.
Libra was the final wake-up call for central banks that prompted serious consideration of digital currency issuances, according to the head of the BIS Innovation Hub.
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.
The head of the Bank of International Settlements briefly became the butt of crypto Twitter trolling last week after issuing new comments on the tech.