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.
A cryptocurrency issued by Canada's central bank could benefit the economic well-being of Canada and the United States.
Venezuela is seeking to end once and for all the hyperinflation that has virtually destroyed the bolivar, forcing the government to create a new currency - a sovereign bolivar, which will be pegged to the Petro cryptocurrency. The country's President Nicolas Maduro announced the release date of the new currency - August 20 - and said that the country needs an “economic revolution.”
Today, the central banks of Australia and New Zealand published information that they do not intend to issue their own cryptocurrencies in the near future, as this could damage their established systems.
As part of a discussion on “The Future of the Token Market” at the Crypto Valley conference in Zug (Switzerland), the director of the board of the Central Bank, Thomas Moser, said that now is not the time to talk about issuing a national cryptocurrency. Additionally, Moser stated that blockchain is similar to the “useless innovation” of CDs.
The Central Bank of Thailand pays great attention to studying and testing the capabilities of blockchain technology in various sectors of the country’s economy, including a number of developments in the work on the use of innovations in the banking environment. The new project is aimed at preparing the release of Thailand's national cryptocurrency (CBDC).
Switzerland has the status of an open country in relation to virtual currencies and has become one of the states considering the possibility of issuing its own digital currency.
Experts at Morgan Stanley believe that in the future, central banks could use government-owned cryptocurrency to set negative interest rates and prevent a financial crisis.
A former adviser to Donald Trump said a global currency is definitely needed, but it won't be Bitcoin. This is due to the technical limitations of Bitcoin, but he believes the technology behind it is incredibly important.
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