Dive into the tech & future
India is forging ahead with the trials of its central bank digital currency (CBDC) dubbed as the digital rupee (e₹-R) with each passing day. To use the digital rupee, Indians will have to download a designated CBDC app, link their bank accounts to this app, convert their money to the CBDC before being able to … Read more
Japan is all set to catch up with nations like India, China, and Russia in expediating the development and trials of its central bank digital currency (CBDC). The Asian nation is set to launch its digital currency in its pilot phase starting April. The development was announced on Friday, February 17, by Shinichi Uchida, the … Read more
The UAE is all geared up to take crucial steps to transform its existing financial systems with emerging next-gen fintech tools. After creating a supportive ecosystem for the crypto industry, the UAE is now turning its focus to include its central bank digital currency (CBDC) to the economy. CBDCs are built on the blockchain network … Read more
The Reserve Bank of India (RBI) launched the first pilot of its retail Digital Rupee on December 1, 2022. According to RBI, this currency is available in the form of a digital token that represents legal tender. The Central Bank Digital Currency (CBDC) has also been issued in the same denominations that paper currency and … Read more
Reliance Retail on Thursday, February 2, reportedly announced that it would begin using India’s digital rupee CBDC across its stores in Mumbai. The retail giant has partnered with ICICI Bank and Kotak Mahindra Bank to accept and process CBDC payments. The government of India has been rolling out its CBDC in select cities including Mumbai. … Read more
The year 2022, while not having been positively eventful for the crypto sector, did emerge as a milestone year for central bank digital currencies (CBDCs). Turkey has become the latest member of the CBDC club, that has touched a significant point in its CBDC trials. The Central Bank of the Republic of Turkey (CBRT), that … Read more
China, that is rather infamous for keeping an extremely restrictive approach towards the crypto sector, is taking small steps into exploring the digital assets sector. The country is geared-up to launch an official, state-backed NFT marketplace, that would let Chinese NFT traders to dabble in the space, but under the oversight of China’s government. A … Read more
China, which has been accelerating its efforts to drive the adoption of its CBDC, has undertaken a new experiment, coloured in traditions, to get more people to use the e-CNY. The Chinese authorities have introduced a feature for existing CBDC users that would enable them to send money to their friends and family as ‘red … Read more
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday warned that the next financial crisis will come from private cryptocurrencies adding that he still holds the view that cryptocurrencies should be prohibited. The governor of the country’s central bank also added that cryptocurrencies have no underlying value and pose risks for macroeconomic and financial stability. … Read more
The experiments with Central Bank Digital Currencies (CBDCs) have picked-up pace around the world, and Kazakhstan is no different. The central Asian nation, which is a hotspot for crypto miners, has decided to take slow steps in devising and rolling-out its CBDC — that essentially is Kazakhstan’s fiat currency in a digital avatar on blockchain. … Read more