Within a recent address to an industry conference, Dr. Lael Brainard, a member of the Board of Governors of the Federal Reserve System (FRB), drove home her belief that the adoption of.
SWIFT, Accenture Publish Joint Paper Aims At Exploring CBDCs albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
SWIFT, Accenture publish paper on central bank digital currencies in cross-border payments By siliconindia | Wednesday, 12 May 2021, 08:54 Hrs SWIFT and Accenture on Wednesday published a paper on central bank digital currencies (CBDCs) in cross-border payments as part of broader digital asset innovation to help the financial community prepare for the possibility of moving payments in new forms of currency internationally. More than half the world s central banks are actively exploring the use of CBDCs, a development that could lead to profound change in the global payments ecosystem. The joint paper from SWIFT and Accenture explores the practicalities of such a shift - from the ways in which CBDCs would move across jurisdictions to the integration of CBDCs into the mix of currencies that already exist - and details what is required for CBDCs to be a viable solution in international payments.
/PRNewswire/ The Electronic Transactions Association (ETA) today released its "7 Guiding Principles for CBDC," which should guide the consideration of the.
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Last Updated: Apr 25, 2021, 03:04 PM IST
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Synopsis
While both Central Bank Digital Currencies or CBDC and cryptocurrencies work on the DLT technology, the goals are different. CBDC could be linked to e-wallets and the UPI payment infrastructure and also possibly bank accounts, offering the end-user the best of both security (sovereign issuance) and convenience offered by new age fintechs.
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By Suvir Davda
Digital assets and currencies from Central Bank Digital Currencies (CBDC) to cryptocurrencies are constantly in the headlines. For those not so clued about the new-age digital and traceable money and assets, hopefully, the below explanation will help decode the complex maze.