China Introduces Digital Yuan to Chinese Business Air Travel
Upon launching the pilot program for China’s central bank digital currency (CBDC), the digital yuan, Chinese business travelers will purportedly be able to purchase airline tickets with the new digital currency. China’s civil aviation news agency reported that a collaboration between China Merchants Bank, a commercial bank, and the Civil Aviation Administration resulted in the […]
Brazil’s CBDC Functionality to Allow Central Bank to Manage User Funds
Pedro Magalhes, a blockchain developer, claims to have successfully reverse-engineered the code of the Brazilian central bank’s test digital currency (CBDC). He identified the capabilities that allow a centralized authority to freeze funds or lower balances. Although there have been questions about these capabilities, the developer contends that there may be circumstances in which they […]
Digital Rouble Bill Passes Parliament In Russia
The lower chamber of the Russian parliament, Gosduma, passed the “digital rouble” bill in its third reading on July 11. The document must now be confirmed by the superior chamber and signed by the President. The law, whose draft was most recently revised at the end of June, establishes the legal definitions of “platform,” “participants,” […]
Ripple Receives Rare Award for CBDC Innovation
Currency Research has recognized Ripple Labs for its contribution to advancing digital currency and the best sustainability initiative. A rare award has been given to American blockchain payments company Ripple Labs Inc. for supporting Central Bank Digital Currency (CBDC) innovation. Antony Welfare, the CBDC Advisor for Ripple Labs, announced on his official Twitter account that […]
BIS Announces Strategy to Defend CBDCs Against Cyber Risks
A strategy to safeguard central bank digital currencies (CBDCs) from cybersecurity risks in the decentralized finance (DeFi) industry has been unveiled by the Bank for International Settlements (BIS). These rules are intended to address the DeFi sector’s vulnerabilities, which could endanger CBDCs created using blockchain and smart contract technology. Large-scale assaults on distributed ledger technology […]