Blockchain
Bank of Lithuania set to board the blockchain
Central bank in the process of creating blockchain-specific sandbox that will grant firms access to its own platform, LBChain; hoping to launch in 2019
2017: The year in review
Over the past year, the global economy regained some strength, and some central banks began to return their policy to normal; but it was not all smooth sailing
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuela’s oil reserves and other raw materials; new ‘blockchain observatory’ has responsibility for oversight
UK Royal Mint to use blockchain to track gold trades
System will track ownership of gold traded on new platform without the need of a central database; new system will charge small transaction fees but abolish storage fees
How crypto is my currency?
Richard Heckinger examines how central banks are grappling with new ideas on crypto-currency and distributed ledgers
Unconventional policy driving crypto bubble, BNPP economist argues
Cryptocurrencies have the potential to deliver “large, positive returns” in an environment stifled by negative real rates
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
Book notes: Hole in the Wall, by James Shepherd-Barron
Cash machines have changed the way cash is managed, but is there a future for such machines in a world looking to go cashless?
Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure; consumer behaviour will be a challenge, bank says
Uruguay launches digital currency pilot
10,000 users will have access to the network, run in conjunction with the state-owned telecoms company and national payments system
Bank of Lithuania bans banks from virtual currency activities
Lithuanian financial firms must disassociate themselves from virtual currencies, says central bank, warning licences may be revoked
True potential of blockchain lies in cross-border transactions – Menon
Singapore is investigating two use cases of blockchain in the cross-border sphere; technology could be used to prevent duplication of invoices in trade agreements
DNB abandons digital currency initiative to focus on blockchain
Blockchain could offer better resilience for payment systems against cyber threats, says head of FMI policy; digital currency not the most “promising” use of blockchain
‘We still don’t do the basics well’ – Chris Gale on cyber security
Central banks are doing “aggressive” and “pretty cool” things to shore up cyber defences, says former Boston Fed VP; notes more could be done in the realm of information sharing
Central banks will be using blockchain by 2019 – research
Study examines pros and cons of central banks adopting blockchain and considers use cases
PBoC research head defends ICO ban
Central bank official stresses ban on ICOs will not hinder research on blockchain
Brazil’s central bank creates DLT-based failsafe for RTGS
New system, designed as last line of defence, lacks appropriate privacy, central bank concludes; established solutions also ruled out as alternatives
Six large banks join UBS digital currency project
UBS announces the third phase of its digital currency project; analysts question whether the project can deliver all it promises
Fintech can give emerging markets an edge – PNG governor
Loi Bakani says the central bank is supportive of attempts to develop financial technology, though it present regulators with a “massive challenge”
Digital currencies could transform the role of central banks – Chilean governor
Marcel is wary of developments with CBDCs, but believes they are still a long way off; he urges central banks to keep pace with fintech innovation
Sarb denies fintech firms have joined ‘sandbox’
South African central bank denies claims a blockchain start-up has been accepted into the scheme, as it does not currently exist; a working group is in discussions on feasibility
Belarus turns to blockchain for information sharing
Central bank uses technology for new information sharing network with plans to deploy the tech to other areas, including securities market
BoE bloggers suggest central banks could use equity-financed QE
Economists raise ideas for future balance sheet innovations, including digital currencies, helicopter money drops and equity-based quantitative easing