New money: Central banks lay out operating manual for digital cash

-
By Marc Jones and Tom Wilson
LONDON (Reuters) - A group of central banks sketched out a potential operating manual for digital cash on Thursday as they aim to strike a balance between keeping up with cryptocurrencies and concerns that the new technology could upend commercial lenders.
Worried that the explosion of bitcoin and its ilk could weaken their control of money, policymakers from Beijing to Washington are exploring central bank digital currencies, known as CBDCs.
And while a widely-used digital dollar or euro may still be years away, work by central banks is gathering pace as consumers increasingly ditch coins and notes in favour of digital payments on debit or credit cards and mobile phones.
The seven central banks - including those in the United ...


Read More on Datafloq

Comments

Post a Comment

Popular posts from this blog

Underwater Autonomous Vehicles Helping Navy Get More for the Money 

-
Image
By AI Trends Staff     As the  US Navy  strives to get to a 355-ship fleet by 2034, part of a 30-year plan the Navy outlined in 2019, it is finding it economical to use underwater autonomous vehicles. They meet many of the requirements of larger submarines at a fraction of the cost.     For example, the Navy awarded Boeing a $43-million contract to build four Orca Extra Large Unmanned Undersea Vehicles (XLUUVs) last year, described in a release from  USNI News .      Boeing based its winning Orca XLUUV design on its Echo Voyager unmanned diesel-electric submersible. The 51-foot-long submersible is launched from a pier and can operate autonomously while sailing up to 6,500 nautical miles without being connected to a manned mother ship, according to the Navy.   In military spending terms, the versatility of the Orca at the price is “fairly unheard of in military spending,” according to an account in  The National Interest . ...
Read more

Canada regulator seeks information from public on Rogers-Shaw deal

-
(Reuters) - A Canadian regulator on Tuesday asked for information from the public on telecom company Rogers Communications Inc's planned C$20 billion ($16 billion) purchase of Shaw Communications Inc to check for competition concerns. The deal announced in March to create Canada's second-largest cellular and cable operator has attracted regulatory scrutiny. The Competition Bureau said in August it obtained court orders to advance its review. The regulator on Tuesday asked market participants and Canadians to come forth with information that could assist the regulator's probe on whether the deal will reduce or prevent competition. The Competition Bureau said its review was ongoing and no conclusions have been made. ... Read More on Datafloq
Read more