Bank of France Launches Experiment Program on Central Bank Digital Currency

As a number of global jurisdictions like the Bahamas and Sweden are already testing their central bank digital currencies (CBDC), French central bank is getting more straightforward regarding its own CBDC plans. The Bank of France is now officially launching a program of experiments to test the integration of a CBDC for interbank settlements, inviting potential participants to submit their applications. Bank of France doesn’t insist on blockchain implementation for CBDC According to a March 30 document, France’s central bank is calling for applications to experiment with the use of…

Former CFTC Chair Looks to Digital Dollar Beyond COVID-19 Stimulus

The digital dollar has been the talk of the crypto world this week. Drafts of the COVID-19 stimulus bill first included and then discarded the creation of digital dollar wallets; a digital distribution method that would enable direct aid to citizens.  The version of the “Coronavirus Aid, Relief, and Economic Security Act” that became law on March 27 features no mention of the digital dollar. While the proposed digital dollar lives on in at least one bill sponsored by Senator Sherrod Brown (D-OH), a United States central bank digital currency…

Talking Digital Future: Artificial Intelligence

I chose artificial intelligence as my next topic, as it can be considered as one of the most known technologies, and people imagine it when they talk about the future. But the right question would be: What is artificial intelligence? Artificial intelligence is not something that just happened in 2015 and 2016. It’s been around for a hundred years as an idea, but as a science, we started seeing developments from the 1950s. So, this is quite an old tech topic already, but because of the kinds of technology that…

Heads of Binance​.US, Ledger, and ZCoin Speak to Impact of Digital Dollar on Industry

COVID-19 has wreaked havoc on the global economy. As legislators in the United States go back and forth on how best to distribute aid, the conversation has amplified the potential role of a digital dollar to avoid the traps of traditional finance. Whether or not ongoing stimulus efforts lead to the minting of a digital dollar, it’s a subject that is on the minds of U.S. legislators in a new way, especially as China’s pending central bank digital currency (CBDC) continues moving forward. Cointelegraph spoke with several leaders in the…

National Digital Currencies: Not Yet Too Big to Fail

Over 30 years ago, in a January 1988 cover story emblazoned with a phoenix hovering over a paper-money inferno, The Economist offered this semi-prophetic vision of currency:  “Thirty years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s…

Former Trump Advisor Joins America’s Digital Dollar Move

The Digital Dollar Project today announced the addition of 22 advisors to help steer America’s latest crypto-based dollar initiative. Advisors include President Donald Trump’s former national security aide, Tim Morrison, among others. Making the Digital Dollar a Reality  Chris Giancarlo, the ex-chairman of the CFTC, formed the Digital Dollar Project back in January to help advocate for an American central bank digital currency (CBDC).  The advocacy group seeks to corral voices from both the crypto space and those who have held government positions.  Today, the group announced 22 new advisors who will steer the conversation around a…

Industry Players Join Former CFTC Royalty on Digital Dollar Project’s New Board

The Digital Dollar Project, which advocates a blockchain-backed digital dollar in the United States, has announced the inaugural roster of its Advisory Board. The new advisors joining the founders of the project The project is an initiative of several former heads of the Commodity Futures Trading Commission (CFTC) and Accenture. The new advisory board includes 22 members with broad backgrounds in finance and payment technologies. They include former CFTC Commissioner Sharon Bowen, PayPal policy exec Usman Ahmed and Georgetown fintech law professor and occasional Cointelegraph contributor Chris Brummer. The announcement…

New Coronavirus Legislation May Introduce a Digital Dollar

Democrats in U.S. Congress have drafted two stimulus bills which recommend the creation of a digital dollar as part of broader COVID-19 stimulus plans. The relevant bills are the Take Responsibility for Workers and Families Act and the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act. What the Bills Propose Both bills suggest sending stimulus payments to qualified individuals affected by COVID-19 shutdowns. The relevant sections propose giving monthly payments of $1,000 to minors and $2,000 adults. This will be decided based on national unemployment…

In COVID-19 Stimulus, US Congress Eyes Digital Dollar to Send Aid to the Unbanked

Amid contentious debate over the massive stimulus package in response to the coronavirus pandemic, Democrats in the United States House of Representatives look to implement the digital dollar to streamline payments to U.S. citizens outside of the traditional financial system. A digital dollar for direct payments to families  A draft of the legislation circulating as of March 23 proposes the creation of digital wallets for U.S. citizens to be maintained by the Federal Reserve within a section entitled “Direct Stimulus Payments for Families.”  The section envisions $2,000 monthly payments to…

Blockchain Digital ID — Putting People in Control of Their Data

Although some people in life do an extremely convincing job of indicating otherwise, all humans have an identity. This identity comes in many forms, and as modern life has progressed, the ways in which people can identify have multiplied. Technology has now made it easier for people to explore and share their identities.  But, at some point in the not-so-distant past, the internet overtook people’s ability to manage their identities online. Companies, notably the big data giants, have become the new gatekeepers. As the world enters a more data-conscious era,…