Central Bank Digital Currency

Central Bank Digital Currencies can do whatever crypto does... CBDCs even have more benefits than crypto, minus the risks associated with private cryptocurrencies.

The African Central Bank of Eswatini recently released the Digital Lilangeni report on Central Bank Digital Currency (CBDC). The digital currency will be pegged to the South African rand (ZAR) and aims to promote local payment convenience, financial inclusion, and increase the efficiency of cross-border payments with neighboring countries.

Senate candidate John Deaton stands firmly against a Federal Reserve-issued CBDC and advocates for greater regulatory clarity and government accountability, particularly in the crypto space.

Accenture has invested in fintech startup Emtech, aiming to enhance CBDC infrastructure for central banks. The partnership aligns with Accenture’s ongoing efforts to shape the future of digital currencies and modernise global banking systems.

The Hong Kong Monetary Authority (HKMA) launched the Project Ensemble sandbox on August 28, focusing on real-world asset tokenization and interbank settlement using a wholesale central bank digital currency (wCBDC).

In a surprising twist of events, China seems to be changing its tune on Bitcoin. While the country has been known for its restrictive stance on cryptocurrencies, recent legal developments suggest a potential shift in perspective.

Trump outlined his crypto policies at the Bitcoin 2024 Conference, including creating a national Bitcoin stockpile; dismissing SEC Chair Gary Gensler; dissing Kamala Harris; pledging to commute the sentence of Silk Road’s Founder; and more. BTC price boomed but is now nearing $70,000, just 6% from its ATH.

The financial world faces potential upheaval as Saudi Arabia ends its 50-year petrodollar deal with the US. Instead, Saudi Arabia's central bank has joined BIS’s CBDC Project mBridge. As power becomes more equitably distributed globally, is the US facing an imminent economic downfall?

After announcing the acceptance of crypto donations, Donald Trump continues to reaffirm his love for crypto while throwing shade at Joe Biden and declaring he would commute Silk Road’s founder’s life sentence. But advocates warn of politicians’ pro-crypto u-turn; is it all just a ploy to gain votes?

The global race to define the future of money is intensifying, with over 130 countries and currency unions—accounting for 98% of the world's GDP—actively exploring CBDCs.