China’s central bank said it is studying the prospects of issuing its own digital currency and aiming to roll out a product as soon as possible, contending that alternative payment systems can improve the efficiency of global transactions.
Commonwealth Bank of Australia and ten of the world’s largest banks have used a blockchain to simulate trading with each other, says R3 CEV, which is managing a project to prove uses for distributed ledgers across financial markets.
China’s central bank wants to launch its own digital currencies to cut the costs of circulating traditional paper money and boost policymakers’ control of money supply, the People’s Bank of China (PBOC) said on Wednesday.
Talk to most people about Bitcoin and several things come to mind: a secretive inventor,illicit marketplaces and the failure of one of its largest exchanges. Not exactly the kind of images most entrepreneurs want to be associated with.
Every financial regulatory body around the world seems to be trying to wrap their heads around Bitcoin and its underlying blockchain technology these days, and the Commodity Futures Trading Commission (CFTC ) in the United States is not immune to this trend.
The UK’s chief scientific adviser has urged the government to adopt the technology that powers crypto-currency Bitcoin to run various public services.