Nine countries launched their digital currencies

Central banks in nine countries have launched their digital currencies. CBDC, the central bank digital currency, is worth exactly what it's worth in real money. This is in contrast to the decentralization and open-source nature of cryptocurrencies like Bitcoin and Ether, which are highly susceptible to manipulation. The Bahamas' Sand Dollar was the first of its kind when it went live in October 2020. There will be a digital Euro introduced by the European Central Bank in the next two years. Nigeria's e-Naira can now only be used by Nigerians with bank accounts, but a fintech company is trying to allow the money to be used without accounts.

Digital currency DCash has been embraced by all island governments that manage the Eastern Caribbean Central Bank, which are Antigua and Barbuda, Grenada, Saint Kitts, and Nevis, Saint Lucia, Dominica, and Montserrat. China's central bank is handing out millions of tokens to boost adoption.

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To boost trade, Africa is simplifying international payment systems

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This summer, the Fed will take another step toward creating a digital money

This summer, the Federal Reserve will publish a research paper that examines the possibility of a central bank digital currency. Multiple countries' initiatives in the central bank digital currency arena, most notably China's, have heightened debate about how aggressively the Fed should act. The Federal Reserve is pushing ahead with its plans to create its own digital currency, stating that a study paper will be released this summer that will go deeper into the topic. Despite the fact that the central bank did not announce any particular plans for the currency, Chairman Jerome Powell acknowledged advancements in payments technology and stated that the Fed has been "actively monitoring and responding" to those developments. In the statement, The proper operation of our economy requires that consumers have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a regular basi...

Blockchain holds the key to a globally trusted coronavirus vaccine passport

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