In our “National Cryptocurrencies” section, we cover government-backed digital currencies and state initiatives related to blockchain technology. Here you will find news about central bank digital currencies (CBDCs), national crypto projects, and the role of digital money in modern economies. Read the “National Cryptocurrencies” section on ForkNews to stay informed about how countries are developing their own digital currencies.
The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology announced a collaboration to explore a central bank digital currency two years ago.
The Ministry of Digital Transformation of Ukraine supported the project of a private stablecoin on the Stellar blockchain, developed by a local bank.
Former CIA and NSA employee Edward Snowden called the idea of creating national currencies “a new danger on the horizon of personal freedoms.”
The Bank of Jamaica is testing a real-time central bank digital currency (CBDC).
The Central Bank of Russia has approved the first group for testing the digital ruble.
Huawei has announced that the new Mate40 series of smartphones will have a built-in cryptocurrency wallet for the Chinese central bank's new coin known as the digital yuan.
A report published by the International Monetary Fund found that 15 different countries are considering joining the global fintech trend and adopting digital currencies as a payment method. In its report, the IMF identified two main reasons why they might make such a decision.
Last Thursday, Venezuelan President Nicolas Maduro raised the minimum wage in VES (sovereign bolivar) by 150% and the exchange rate for Petro, from VES 3,600 to 9,000, as the two indices are linked to each other. However, Petro has recently become mandatory for certain payments in the country, despite the increased cost.
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