banks

Thhe Bank of England released an official notice on January 21st, stating that a group of central banks will assess the possibility of launching central bank digital currencies. The coalition of banks involved in the new cryptocurrency project will include the Bank of Canada, the Bank of England, the Bank of Japan, European Central Bank, Sveriges Risbank of Sweden, the Swiss National Bank and the Bank for International Settlements. The group of banks will look…

On December 13th, Sweden’s central bank announced that it would be collaborating with Accenture, a strategy and consultancy firm for digital and technological operations, to begin the development process for a digital currency, the e-krona. The project will initially begin with creating a pilot platform so the development of cryptocurrency, called e-krona, can take place in a safe test environment. The world’s oldest central bank, Riksbank, discussed the details about the recent project, stating to…

In a pretty lengthy yet enlightening research dubbed ‘Imagine 2030 – The Decade Ahead,’ a research team of Deutsche Bank predicts the imminent doom of fiat currencies as crypto takes over if the current trend is left unchecked. Jim Reid, the strategist behind this forecast took his time to point out some of the shortcomings – or ‘forces’ as he put it – that may eventually lead to the end of traditional fiat currency in…

According to Treasury Secretary Steven Mnuchin, the U.S. government sees no use of diving into cryptocurrency anytime soon. Mnuchin was speaking at the House Financial Services Committee in Washington. The decision to not creating a national digital currency comes after a discussion with Jerome Powell, Chairman of the Federal Reserve. The conversation happened on Thursday while the two of them were having their weekly meeting. Mnuchin commented: “Chair Powell and I have discussed this —…