Midst growing debate over the future of money, major central banks across the globe are looking at a possibility of issuing their own digital currencies, said the European Central Bank and the Bank of England. “The central banks of Britain, the euro zone, Japan, Sweden and Switzerland will share experiences in a new group headed…
This conclusion was made by Sabine Lautenschlaeger, director at the European Central Bank, to an audience in Sydney. On Wednesday, Sabine Lautenschlaeger, European Central Bank director stated, the majority of London-based banks relocating to the Eurozone due to Brexit, have made “reasonable progress” in preparing the move. “We have urged and pushed them (banks) to…
While cash has always been King, card payments have dethroned it now signalling the creeping end of privacy rights and freedom. In a historic development, an analysis from Bundesbank study shows that the majority of Germans prefer card payments instead of cash. The supremacy of cash in Germany which ensured privacy and freedom of its…
Although crypto currencies are yet to go mainstream, the fantastic appreciation of the value of the Bitcoin is pushing many central banks to issue their own digital currency. On Thursday, Yves Mersch, a member of the European Central Bank’s executive board stated, if banks were to speed up the introduction of instant payments it would…
The R3 project is likely to be a significant milestone in the history for blockchain technology. On Tuesday, in a significant development, twenty two of the world’s biggest banks have come together to collaborate on developing an international payments system that would allow existing central bank currencies and any new digital ones to be transacted…
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