WEF Warns CBDCs Could Face Quantum Computer Attacks
The WEF warns that CBDCs could be vulnerable to decryption attacks from emerging quantum computers. The World Economic Forum (WEF) recently issued a severe warning about the potential susceptibility of central bank digital currency (CBDCs) to quantum computing system decryption assaults. Quantum computing is largely still in its experimental stages. Numerous proofs-of-concept are available, and […]
US Senate Bills Reject CBDCs Use as Money
States of Tennessee, Utah, South Carolina, and South Dakota have all introduced bills to discourage using central bank digital currencies (CBDCs) interchangeably with physical currency. On January 12, Tennessee State Senator Frank Niceley introduced a bill to the Senate. Money is a recognized and permitted medium of commerce under the Tennessee Uniform Commercial Code (UCC). […]
MasterCard Says Wide Adoption of CBDCs Would be Difficult
According to payments giant Mastercard, adoption is the most challenging aspect of state-issued digital currencies. According to Mastercard, the second-largest payment processing company, central bank digital currencies, or CBDCs, are not anticipated in the near future since modern consumers are “comfortable using today’s type of money.” The APAC head of Mastercard’s digital assets and blockchain, […]
BIS, 3 Central Banks Test Cross-border CBDCs
On September 28th, the Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland concluded a joint test of the cross-border trading and settlement of wholesale central bank digital currencies (CBDCs). Under the supervision of the BIS, the Banque de France, the Monetary Authority of Singapore, and the Swiss National Bank […]
BIS Chief Urges Countries to Update Legal Frameworks for CBDCs
The general manager of the Bank for International Settlements (BIS), Agustin Carstens, has called on countries to modernize their existing legal frameworks to ensure legitimacy, privacy, integrity, and choice for central bank digital currencies (CBDCs). Speaking at a conference in Switzerland on Wednesday, Carstens said that CBDCs are a form of money that meets the […]