The Royal Monetary Authority of Bhutan is collaborating with Ripple to test the feasibility of a central bank digital currency in the country. The RMA's efforts to improve cross-border payments and expand financial inclusion were the driving force for the decision. Bhutan's gross domestic product (GDP) was $2.5 billion in 2020, according to the World Bank. Bhutan's financial inclusion is expected to reach 85 percent by 2023, according to the RMA. The CBDC Private Ledger is carbon neutral and 120,000 times more efficient than proof-of-work blockchains, which are currently in use.
Following a breach that resulted in the loss of $610 million by cryptocurrency exchange Poly Network earlier this week, the company announced a $500,000 "bug reward" to whoever was responsible. With an emphasis on enabling users to move or exchange tokens across various blockchains, Poly Network is a decentralized finance (Defi) platform that enables peer-to-peer transactions intending to facilitate peer-to-peer transactions. He had "helped us improve Poly Network's security," the company said. A "white hat" hacker tries to disclose cyber vulnerabilities. "Mr. White Hat" was also to get a $500,000 reward as part of the digital money repatriation talks. It said that the hacker had replied to the offer, but did not specify whether or not the offer had been accepted. However, it has been reported that the hacker has returned $340 million in money and has transferred the bulk of what is left to a digital wallet owned by them and Poly Network, acc
Comments
Post a Comment