• Paul McNeal

Central Bank Digital Currency (CBDC)

Updated: Feb 23

If you are paying attention, countries around the globe are seriously interested in launching their own digital Blockchain based currency. The country that receives the most press is China. The Marshall Islands and Bahamas both in the process of launching their digital currencies in 2020.

China’s roadmap have been interesting to say the least. At the beginning of the year top Chinese Economist were divided on a Central Bank Digital Currency. By August, China Central Bank prioritizes development of Digital Currency. It was announced by Cointelegraph on Aug 11th that their Digital Currency was ready and apparently no bank account will be needed. In September, Coindesk reported that PBoC is conducting closed loop testing of the digital currency. Toward the end of September, the People's Bank of China Head said there's no timetable' for Digital Currency launch.

Recently, China announced the imminent release of Digital Currency targeting SWIFT and

the US Dollar. China guarantees citizens on-demand anonymity with state Digital Currency. However, China’s Central Bank says it is still researching and testing digital currency;

launch reports are 'fraudulent.' But according to an investor, China Digital Currency launch “definitely” in 6-12 Months. When it’s launched Former PBoC Head say China’s Digital Yuan will favor payments and retail.

Many countries have an on again off again relationships with Digital Currencies. Japan began the year saying they would launch and then said they wouldn’t and now say they are researching it. India and South Korea says it’s a no for them.

At the end of the day, there is no question that there will be digital currencies issued by sovereign nations. As reported by BTCManager - “Pauline Adam Kalfon, a blockchain and financial services partner at PwC France, explained that central banks may start to accept the idea of issuing their own digital currency once big companies have stress-tested the technology.” European Bank official discusses potential benefits of Central Bank Digital

Currency and European Union drafts law suggesting consideration of Eurocoin. The Daily HODL believes that Sovereign Digital Currencies will create a new financial ecosystem. ING Economist Predicts Central Bank Digital Currency in next few years.

As you can see things are progressing, what will 2020 bring? Stay tuned...

COUNTRY

Japan

07 Jan 2019: Japanese Banks Launching Digital Currencies Could Inspire the Traditional

Cash Society [Cointelegraph]

27 Feb 2019: Japanese Megabank Mizuho is Launching its Own Digital Currency in March

[CCN]

31 Oct 2019: Bank of Japan confirms no plans for a Central Bank Digital Currency

[Brave NewCoin]

19 Nov 2019: Japan's central bank researching digital currencies, says governor

[The Block]

India

08 Jan 2019: “Too Early” for Central Bank Digital Currency: India Shelves Plans for a Crypto

Rupee [Cointelegraph]

South Korea

29 Jan 2019: S. Korea’s Central Bank Says It Won’t Issue a Digital Currency in the Near

Future. [Cointelegraph]

Saudi Arabia

30 Jan 2019: Saudi Arabia, UAE to Test New Central Bank Crypto: ABER

[Bitcoin News]

Marshall Islands

31 Jan 2019: Marshall Islands to Issue Physical Banknotes for World’s First Decentralized

National Digital Currency [CCN]

16 Feb 2019: How the Marshall Islands Envisions Its National Digital Currency Dubbed

“Sovereign” [Cointelegraph]

22 Nov 2019: First national digital currency about to reach another milestone

[SOV Blog]

China

02 Feb 2019: Top Chinese Economist Divided on a Central Bank Digital Currency

[CryptoGlobe]

04 Aug 2019: China’s Central Bank Prioritizes Development of Digital Currency

[Cointelegraph]

11 Aug 2019: China’s Digital Currency Is Ready, Central Bank Says

[Cointelegraph]

30 Aug 2019: Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

[Cointelegraph]

04 Sep 2019: China’s Crypto Competitor Is Being Built in a Secret Office with Restricted

Access [Coindesk]

24 Sep 2019: People's Bank of China Head Says There's 'No Timetable' for Digital Currency

Launch [CryptoGlobe]

28 Oct 2019: China Announces Imminent Release of Digital Currency Targeting SWIFT and

the US Dollar [The Daily Hodl]

12 Nov 2019: China Guarantees Citizens On-Demand Anonymity With State Digital Currency

[CCN[

13 Nov 2019: China’s central bank says it is still researching and testing digital currency;

launch reports are 'fraudulent' [The Block]

20 Nov 2019: China Digital Currency Launch “Definitely” in 6-12 Months -- Investor

[Cointelegraph]

27 Nov 2019: Former PBoC Head: China’s Digital Yuan Will Favor Payments and Retail

[Cointelegraph]

Germany

22 Feb 2019: Luxembourg University Postdoc: Central Bank Digital Currencies Too

Attractive to Ignore [Cointelegraph]

03 Nov 2019: Over 200 Private German Banks Support the Issuance of a Digital Euro

[CryptoGlobe]

Ukraine

25 Feb 2019: Ukraine Completes Pilot Scheme for E-Hryvnia National Digital Currency

[Cointelegraph]


Iran

03 Mar 2019: Unlike The Petro, Iranian Crypto Rial Could Be A Success

[Crypto Briefing]

Pakistan

01 Apr 2019: Pakistan Plans New Digital Currency Regulations Following FAFTA’s Urging

[Cointelegraph]

02 Apr 2019: Pakistan Central Bank Eyes Digital Currency Launch by 2025

[Coindesk]

Zimbabwe

04 Apr 2019: Zimbocash: A Digital Currency For Zimbabwe

[Coindesk]

Russia

22 Apr 2019: Adviser to President of Russia Proposes Digital Currency in Crimea

[Cointelegraph]

09 Jul 2019: Official: Russia to Postpone Adoption of Bill on Digital Currencies

[Cointelegraph]

Thailand

07 May 2019: Bank of Thailand’s CBDC Project Prototype Is Being Finalized by R3 and Wipro

[Cointelegraph]

Bahamas

29 May 2019: Bahamas Central Bank Enters Agreement to Deliver First National Digital

Currency by 2020 [Cointelegraph]

28 Oct 2019: Bahamas Central Bank Launching Project Sand Dollar in Abaco

[CryptoGlobe]

Rwanda

22 Aug 2019: Rwanda’s Central Bank Is Researching a Possible Digital Currency Launch

[Coindesk]

France

13 Sep 2019: France calls for EU crypto rules and creation of a ‘public digital currency’

[The Block]

29 Sep 2019: North Korea Wants Its Own National Crypto, CBDC Fever Spreads in Asia

[Cointelegraph]

United States

02 Oct 2019: US Congressmen Urge the Fed to Consider Creating a ‘National Digital Currency’

As the Rise of Crypto Threatens Paper Money [The Daily HODL]

21 Nov 2019: United States Examines Launching Digital Currency, Confirms Federal Reserve

Chairman [BeInCrypto]

Canada

16 Oct 2019: The central bank of Canada is exploring a digital currency

[The Block]

Wales

17 Oct 2019: Welsh Government Backs Initiative to Launch Digital Currency for Businesses

[CryptoGlobe]

Turkey

05 Nov 2019: President Erdogan: Turkey to Finish Testing Digital Lira in 2020

[Cointelegraph]

Ghana

27 Nov 2019: Ghana could issue digital currency in ‘near future’

[The Block]

Analysis

25 Mar 2019: PwC Partner: Central Bank Digital Currencies Need to Be Stress-Tested by Big

Companies [BTCManager]

25 Mar 2019: Central Banks See “No Value” in Issuing Digital Currency: BIS Chief

[Coindesk]

27 May 2019: European Bank Official Discusses Potential Benefits of Central Bank Digital

Currency [Cointelegraph]

29 Aug 2019: Detailed Analysis of China’s Central Bank Digital Currency

[Cointelegraph]

17 Sep 2019: Sovereign Digital Currencies Will Create a New Financial Ecosystem

[The Daily HODL]

01 Oct 2019: ING Economist Predicts Central Bank Digital Currency in Next Few Years.

[CryptoGloble]

05 Nov 2019: European Union Drafts Law Suggesting Consideration of Eurocoin

[Cointelegraph]

CHRONOLOGICAL

07 Jan 2019: Japanese Banks Launching Digital Currencies Could Inspire the Traditional

Cash Society [Cointelegraph]

08 Jan 2019: “Too Early” for Central Bank Digital Currency: India Shelves Plans for a Crypto

Rupee [Cointelegraph]

29 Jan 2019: S. Korea’s Central Bank Says It Won’t Issue a Digital Currency in the Near

Future. [Cointelegraph]

30 Jan 2019: Saudi Arabia, UAE to Test New Central Bank Crypto: ABER

[Bitcoin News]

31 Jan 2019: Marshall Islands to Issue Physical Banknotes for World’s First Decentralized

National Digital Currency [CCN]

02 Feb 2019: Top Chinese Economist Divided on a Central Bank Digital Currency

[CryptoGlobe]

16 Feb 2019: How the Marshall Islands Envisions Its National Digital Currency Dubbed

“Sovereign” [Cointelegraph]

22 Feb 2019: Luxembourg University Postdoc: Central Bank Digital Currencies Too

Attractive to Ignore [Cointelegraph]

25 Feb 2019: Ukraine Completes Pilot Scheme for E-Hryvnia National Digital Currency

[Cointelegraph]

27 Feb 2019: Japanese Megabank Mizuho is Launching its Own Digital Currency in March

[CCN]

03 Mar 2019: Unlike The Petro, Iranian Crypto Rial Could Be A Success

[Crypto Briefing]

25 Mar 2019: PwC Partner: Central Bank Digital Currencies Need to Be Stress-Tested by Big

Companies [BTCManager]

25 Mar 2019: Central Banks See “No Value” in Issuing Digital Currency: BIS Chief

[Coindesk]

01 Apr 2019: Pakistan Plans New Digital Currency Regulations Following FAFTA’s Urging

[Cointelegraph]

02 Apr 2019: Pakistan Central Bank Eyes Digital Currency Launch by 2025

[Coindesk]

04 Apr 2019: Zimbocash: A Digital Currency For Zimbabwe

[Coindesk]

22 Apr 2019: Adviser to President of Russia Proposes Digital Currency in Crimea

[Cointelegraph]

07 May 2019: Bank of Thailand’s CBDC Project Prototype Is Being Finalized by R3 and Wipro

[Cointelegraph]

27 May 2019: European Bank Official Discusses Potential Benefits of Central Bank Digital

Currency [Cointelegraph]

29 May 2019: Bahamas Central Bank Enters Agreement to Deliver First National Digital

Currency by 2020 [Cointelegraph]

09 Jul 2019: Official: Russia to Postpone Adoption of Bill on Digital Currencies

[Cointelegraph]

04 Aug 2019: China’s Central Bank Prioritizes Development of Digital Currency

[Cointelegraph]

11 Aug 2019: China’s Digital Currency Is Ready, Central Bank Says

[Cointelegraph]

22 Aug 2019: Rwanda’s Central Bank Is Researching a Possible Digital Currency Launch

[Coindesk]

29 Aug 2019: Detailed Analysis of China’s Central Bank Digital Currency

[Cointelegraph]

30 Aug 2019: Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

[Cointelegraph]

04 Sep 2019: China’s Crypto Competitor Is Being Built in a Secret Office with Restricted

Access [Coindesk]

13 Sep 2019: France calls for EU crypto rules and creation of a ‘public digital currency’

[The Block]

17 Sep 2019: Sovereign Digital Currencies Will Create a New Financial Ecosystem

[The Daily HODL]

24 Sep 2019: People's Bank of China Head Says There's 'No Timetable' for Digital Currency

Launch [CryptoGlobe]

29 Sep 2019: North Korea Wants Its Own National Crypto, CBDC Fever Spreads in Asia

[Cointelegraph]

01 Oct 2019: ING Economist Predicts Central Bank Digital Currency in Next Few Years.

[CryptoGloble]

02 Oct 2019: US Congressmen Urge the Fed to Consider Creating a ‘National Digital Currency’

As the Rise of Crypto Threatens Paper Money [The Daily HODL]

16 Oct 2019: The central bank of Canada is exploring a digital currency

[The Block]

17 Oct 2019: Welsh Government Backs Initiative to Launch Digital Currency for Businesses

[CryptoGlobe]

28 Oct 2019: Bahamas Central Bank Launching Project Sand Dollar in Abaco

[CryptoGlobe]

28 Oct 2019: China Announces Imminent Release of Digital Currency Targeting SWIFT and

the US Dollar [The Daily Hodl]

31 Oct 2019: Bank of Japan confirms no plans for a Central Bank Digital Currency

[Brave NewCoin]

03 Nov 2019: Over 200 Private German Banks Support the Issuance of a Digital Euro

[CryptoGlobe]

05 Nov 2019: European Union Drafts Law Suggesting Consideration of Eurocoin

[Cointelegraph]

05 Nov 2019: President Erdogan: Turkey to Finish Testing Digital Lira in 2020

[Cointelegraph]

12 Nov 2019: China Guarantees Citizens On-Demand Anonymity With State Digital Currency

[CCN[

13 Nov 2019: China’s central bank says it is still researching and testing digital currency;

launch reports are 'fraudulent' [The Block]

19 Nov 2019: Japan's central bank researching digital currencies, says governor

[The Block]

20 Nov 2019: China Digital Currency Launch “Definitely” in 6-12 Months -- Investor

[Cointelegraph]

21 Nov 2019: United States Examines Launching Digital Currency, Confirms Federal Reserve

Chairman [BeInCrypto]

27 Nov 2019: Ghana could issue digital currency in ‘near future’

[The Block]

27 Nov 2019: Former PBoC Head: China’s Digital Yuan Will Favor Payments and Retail

[Cointelegraph]

Podcast

09 Jul 2019: Unchained [Laura Shin] - How the Caribbean Got on the Road to Central

Bank Digital Currencies

Video

21 Nov 2019: Bitcoin Q&A: Andreas Antonopoulos - Central bank digital currencies

(CBDCs)

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