#cbdc launch date

[currencyveda]

Central Bank Digital Currencies

Howdy!, Dearest Tumblr fam! 👋🌟

I just had to share my excitement about Central Bank Digital Currencies (CBDCs) and their potential to revolutionize the way we handle money. It's mind-boggling, to say the least! 💸💡

In my latest blog post, I dive deep into the world of CBDCs and explore their impact on financial inclusion, efficiency, and monetary policies. We're talking about bridging the gap between the banked and unbanked, streamlining transactions, and even enabling programmable money! 🚀

But wait, there's more! I also discuss the challenges and considerations surrounding CBDCs because, let's face it, nothing great comes without a few hurdles, right?

So, if you're as curious as I am about the CBDC revolution, head over to my blog and join me on this enlightening journey. Together, let's unlock the intricacies, benefits, and challenges of CBDCs. Trust me, it's a wild ride you don't want to miss! 🎢

Click here for an exhilarating read: Central Bank Digital Currencies

Remember to buckle up and get ready to explore the future of finance with me! 🌌💫

Study Reveals 130 Countries Exploring Central Bank Digital Currencies, Click here to read the latest news: On CBDC News.

Happy reading, folks! 📚✨

[upbblog]

Crypto Expo Dubai 2025 x UPB: A New Chapter in Crypto Banking

Dubai is once again set to become the global hub for blockchain innovation and cryptocurrency networking as it welcomes the world to the Crypto Expo Dubai 2025. Scheduled for , this mega event is expected to be the most influential crypto gathering of the year.

🌍 What Is Crypto Expo Dubai?

Crypto Expo Dubai is a leading event where blockchain enthusiasts, investors, startups, and fintech companies converge to discuss the future of crypto and Web3. With hundreds of industry leaders and thousands of attendees from across the globe, it’s more than just a conference—it's a movement shaping the decentralized future.

🔥 What to Expect in 2025?

✅ 1. Top-Tier Speakers

Expect keynote sessions from crypto pioneers, DeFi innovators, exchange founders, and even regulators sharing insight into the ever-evolving crypto landscape.

✅ 2. Exhibition Halls Full of Innovation

Over 100+ exhibitors will showcase:

Blockchain platforms

Crypto wallets

Trading platforms

NFT marketplaces

Web3 gaming & metaverse projects

One of the rising platforms to watch this year is ForUPB Online — a secure, user-friendly crypto banking solution that empowers users to manage, trade, and grow their digital assets with confidence.

✅ 3. Global Networking Opportunities

Meet investors, developers, and thought leaders from the US, Europe, Asia, and the Middle East. Perfect for:

B2B partnerships

Token/project pitching

Influencer & media collaborations

If you’re building in the crypto-finance space, networking with platforms like UPB could open the door to meaningful collaborations and integration opportunities.

✅ 4. Panel Discussions on Emerging Trends

Topics may include:

AI + Blockchain convergence

CBDCs vs. Stablecoins

Regulation & Compliance

Future of Ethereum & Layer 2s

Institutional crypto adoption

🚀 Why Crypto Expo Dubai Matters

Dubai has emerged as a pro-crypto hub, with friendly regulations, supportive infrastructure, and a future-forward government. This makes Crypto Expo Dubai not just a conference — but a strategic opportunity for:

Launching new tokens or platforms

Securing funding

Getting early access to next-gen projects

Gaining global exposure

Platforms like UPB are perfectly positioned to take advantage of this momentum — offering banking-grade tools to crypto users who demand speed, transparency, and security in the Web3 era.

🏆 Awards & Recognitions

The event also features Crypto Awards, recognizing excellence in categories like:

Best DeFi Platform

Most Innovative NFT Project

Best Blockchain Startup

Top Web3 Game of the Year

We won’t be surprised if UPB emerges as a top contender for “Best Crypto Banking Platform�� at the Expo.

💡 Who Should Attend?

Crypto Investors

Blockchain Developers

Founders & CEOs

Web3 Startups

Financial Institutions

Marketing & PR Agencies

Anyone interested in the future of money

📍 Event Details:

Location: Festival Arena, Dubai

Dates: [To be Announced]

Visit: www.upbonline.com to explore the future of crypto banking.

🔗 Final Thoughts

Crypto Expo Dubai 2025 is not just a destination—it’s a launchpad for the next wave of crypto innovation. Whether you’re an investor looking for the next 100x project, or a builder ready to showcase your startup, this event will set the tone for the entire Web3 industry.

And if you’re looking for a crypto banking solution that’s as visionary as the event itself, For UPB Online is one name to watch.

[techit-rp]

Why Financial Analysts in Delhi Must Prepare for the CBDC Era

As the world embraces a digital-first approach to financial transactions, the rise of Central Bank Digital Currencies (CBDCs) is transforming the landscape of global finance. In India, the launch of the Digital Rupee by the Reserve Bank of India (RBI) marks a pivotal moment in monetary innovation. But beyond the headlines and pilot programs, there's a deeper transformation happening—one that is reshaping how financial analysts operate, analyze, and strategize in this new digital economy.

For aspiring and current finance professionals, understanding CBDCs isn't just about knowing how digital money works. It's about preparing for a future where data-driven insights take center stage. This is where specialized programs like a Financial Analytics Certification in Delhi come into play, offering the tools and skills required to stay relevant and competitive.

Understanding CBDCs: A New Financial Paradigm

A Central Bank Digital Currency is a digital form of a country’s fiat currency, issued and regulated by its central bank. Unlike cryptocurrencies, which are decentralized and speculative in nature, CBDCs are state-backed and designed to function as a legal tender.

India’s Digital Rupee is currently being tested for wholesale and retail applications. It promises faster, more secure, and more transparent transactions, without the volatility or regulatory ambiguity associated with crypto assets.

The transition to CBDCs is more than a change in how money is stored and exchanged. It represents a fundamental shift in the data architecture of finance—a shift that directly impacts the role of financial analysts.

What Does This Mean for Financial Analysts?

Traditionally, financial analysts have worked with delayed, aggregated, or sampled data from banks, stock markets, or regulatory filings. With CBDCs, the financial ecosystem is moving toward real-time, granular, and traceable financial data. Every transaction made using the Digital Rupee has the potential to be recorded in a central, secure ledger.

This evolution changes everything:

1. Real-Time Financial Insights

Analysts will no longer have to wait for end-of-quarter reports or rely on historical data alone. CBDCs offer near-instant access to transaction data, enabling analysts to generate up-to-date insights on market trends, consumer behavior, and liquidity flow.

2. Advanced Risk Modeling

With access to comprehensive datasets, financial analysts can build more robust risk assessment models. Whether it's assessing creditworthiness or evaluating the financial health of a sector, the precision and depth of analysis will significantly improve.

3. Policy Impact Analysis

Governments and central banks can adjust interest rates, taxation, or subsidies in real time. Analysts will be expected to interpret these changes quickly and advise clients or institutions on how to respond.

4. Enhanced Compliance Monitoring

As CBDCs enhance financial transparency, regulators will have an easier time tracking illicit activities. Financial analysts will play a critical role in ensuring compliance, identifying suspicious patterns, and supporting legal and regulatory frameworks.

New Skills Required in the CBDC Era

The digital rupee is just the beginning. As more nations explore and adopt CBDCs, the demand for professionals who can analyze, interpret, and forecast in this dynamic space is growing rapidly.

Some of the essential skills include:

Data Analytics and Visualization: Understanding how to extract meaningful insights from complex transaction data

Machine Learning and AI: Building predictive models for everything from investment strategies to fraud detection

Regulatory Acumen: Navigating evolving policy landscapes around digital currencies

Economic Modeling: Simulating the effects of macroeconomic changes on digital currency usage

To gain these competencies, enrolling in a program like a Financial Analytics Certification in Delhi can provide both foundational knowledge and practical training. Such programs are tailored to meet the demands of a changing financial environment and are ideal for finance graduates, analysts, accountants, and even regulators.

The Indian Advantage: Why This Matters Now

India’s fintech ecosystem is booming. With UPI transforming retail transactions and the Digital Rupee poised to revolutionize the way money is issued and moved, there has never been a better time to specialize in financial analytics.

Cities like Delhi, as major economic hubs, are leading this transformation. The demand for skilled analysts who can navigate the digital finance ecosystem is on the rise in banking, consulting, fintech startups, and regulatory bodies.

Institutions offering a Financial Analytics Certification in Delhi are responding by updating their curriculum to include modules on CBDCs, blockchain fundamentals, real-time data modeling, and regulatory technology. This ensures that learners are not only job-ready but also future-proof.

CBDCs and the Future of Finance in India

As India takes a leadership role in digital finance through initiatives like the Digital Rupee, professionals in the financial sector must evolve alongside the technology. The future will demand analysts who are as comfortable with Python and SQL as they are with balance sheets and income statements.

The intersection of central banking, digital currency, and analytics is not just a theoretical concept—it is the new reality of finance. Those who upskill today will be the leaders of tomorrow’s digital economy.

Conclusion: Redefining Finance Through Education

The RBI’s move towards a Digital Rupee is more than a technological upgrade—it’s a transformation of the financial DNA of the country. And as with all transformative changes, it brings with it new roles, responsibilities, and opportunities.

Professionals who wish to ride this wave of change must invest in the right education and training. Enrolling in a Financial Analytics Certification in Delhi is one of the most strategic steps toward becoming a vital part of this evolving ecosystem.

[cryptonewsinsights]

Crypto News: Key Insights Shaping the Future of Digital Assets in 2025

The cryptocurrency marketplace maintains to conform at an excellent pace, pushed with the aid of the usage of technological enhancements, regulatory shifts, and international adoption. As we step into 2025, staying up to date with the current crypto facts is critical for customers, clients, and blockchain fans. This article explores the most awesome tendencies shaping the virtual asset panorama and what they propose for the future of cryptocurrencies.

1. Bitcoin and Ethereum:The Market Leaders Maintain Their DominanceBitcoin (BTC) and Ethereum (ETH) continue to be the cornerstone of the cryptocurrency environment. Bitcoin's reputation as "virtual gold" is similarly solidified through developing institutional adoption and the brand new approval of Bitcoin ETFs in vital economic markets. Meanwhile, Ethereum's transition to Ethereum 2.Zero has notably advanced scalability and electricity performance, making it a favored blockchain for decentralized programs (DApps) and clever contracts.

2. The Rise of Central Bank Digital Currencies (CBDCs)Governments worldwide are accelerating their efforts to launch Central Bank Digital Currencies (CBDCs). China’s virtual yuan, the EU’s virtual euro, and the U.S. Federal Reserve’s exploration of a virtual dollar highlight a shift towards u . S . A .-controlled digital currencies. While CBDCs promise economic inclusion and standard typical overall performance, moreover they beautify issues approximately privateness and centralization.

3. The Impact of Regulatory Changes on the Crypto MarketCrypto policies stay a warm problem depend, with governments tightening compliance requirements to decrease illicit sports. The U.S. Securities and Exchange Commission (SEC) keeps its scrutiny of crypto exchanges, on the identical time because the European Union’s MiCA (Markets in Crypto-Assets) law devices a smooth framework for virtual assets. These rules reason to offer investor safety and market stability while fostering innovation.

4. The Emergence of Decentralized Finance (DeFi) 2.0DeFi has revolutionized conventional finance with the aid of way of permitting peer-to-peer lending, borrowing, and shopping for and selling without intermediaries. The next evolution, DeFi 2.Zero, focuses on sustainability, security, and fee enhancements. Protocols are integrating insurance mechanisms, higher governance models, and pass-chain compatibility to cope with the demanding conditions faced thru early DeFi obligations.

5. The Expanding Influence of Non-Fungible Tokens (NFTs)NFTs have transcended digital artwork and gaming, coming into industries like track, actual belongings, and ticketing. Major producers and celebrities are leveraging NFTs for fan engagement, at the identical time as metaverse systems are the use of them to installation virtual ownership. The developing software of NFTs past speculative trading is a testomony to their extended-time period capability.

6. The Role of Artificial Intelligence (AI) in Crypto TradingAI-driven looking for and promoting bots and predictive analytics are reshaping cryptocurrency shopping for and selling. Advanced device analyzing algorithms take a look at marketplace tendencies, execute trades, and reduce risks, imparting each retail and institutional traders a place. AI-powered protection structures are also improving fraud detection and hazard management in crypto transactions.

7. Institutional Adoption and the Future of Crypto InvestmentsLarge financial institutions, hedge price range, and tech giants keep to integrate cryptocurrencies into their portfolios. Companies like Tesla and MicroStrategy have progressed their Bitcoin holdings, at the equal time as most important charge processors which includes PayPal and Mastercard expand their crypto offerings. Institutional interest is a strong indicator of crypto's developing legitimacy and mainstream reputation.

8. The Sustainability Debate: Crypto and Environmental ImpactThe environmental impact of crypto mining stays a controversial trouble. However, current solutions together with renewable electricity-powered mining farms, carbon-independent blockchain networks, and Layer-2 scaling answers much like the Lightning Network are addressing concerns. Ethereum’s flow into to Proof-of-Stake (PoS) has already reduced its strength consumption thru over 99%, placing a precedent for sustainable blockchain practices.

9. The Role of Crypto News in Investor Decision-MakingStaying informed with dependable crypto data is vital for making knowledgeable funding alternatives. With speedy marketplace fluctuations and regulatory modifications, crypto facts structures offer real-time updates, professional analysis, and marketplace predictions. Following credible property permits customers navigate the unstable crypto panorama and seize worthwhile opportunities.

Conclusion

The cryptocurrency marketplace is at a essential juncture, with technological enhancements and regulatory tendencies shaping its future. From Bitcoin’s dominance to the rise of DeFi 2.Zero, CBDCs, NFTs, and AI-pushed buying and selling, crypto keeps to redefine the global monetary surroundings. As the enterprise matures, staying informed with the cutting-edge crypto information can be key to capitalizing on possibilities and mitigating risks in this dynamic area.

[cryptoventure01]

Shaping Tomorrow: Top Crypto and AI Trends Today

The intersection of cryptocurrency, NFTs, and artificial intelligence (AI) is shaping the future of technology, finance, and culture. These transformative sectors are unlocking new possibilities, creating innovative solutions, and pushing boundaries across industries. From Bitcoin price fluctuations to the rise of generative AI and the explosion of digital collectibles, these trends are not just fleeting moments—they are the building blocks of tomorrow.

In this blog, we explore the latest developments in cryptocurrency, NFTs, and AI, and how they are converging to create new opportunities for investors, creators, and businesses alike.

1. Cryptocurrency: Revolutionizing the Financial Landscape

Cryptocurrency has moved beyond the early days of experimentation into becoming a mainstream financial tool. It is no longer just about Bitcoin; the entire ecosystem of crypto coins is evolving at an unprecedented rate, and its impact is being felt across industries.

A. Institutional Adoption of Crypto

From hedge funds to publicly traded companies, the interest in cryptocurrency among institutional investors continues to grow. Bitcoin remains the most popular asset, with large-scale players such as MicroStrategy and Tesla diversifying their portfolios with digital assets. The growing confidence in cryptocurrency is also reflected in its wider acceptance as a legitimate financial asset, attracting investors from around the world.

Stay up to date with the Bitcoin price today and explore crypto coin news today for the latest market shifts and trends.

B. The Rise of Central Bank Digital Currencies (CBDCs)

Central banks are launching their own digital currencies (CBDCs) as they seek to bring the benefits of cryptocurrency into the regulatory fold. These state-backed digital assets aim to provide greater security, reduced transaction costs, and more accessible financial systems. Leading economies, including China, Europe, and the United States, are now actively experimenting with or developing their own CBDCs, setting the stage for the future of digital currency.

C. Decentralized Finance (DeFi) – The Future of Banking

DeFi continues to grow as a driving force in the cryptocurrency space. By using blockchain technology, DeFi enables users to access financial services—such as lending, borrowing, and yield farming—without the need for traditional financial intermediaries like banks. This financial freedom, combined with enhanced transparency and reduced fees, is creating new opportunities for anyone with access to the internet.

For the latest in coins news crypto and Bitcoin news, visit CryptoVenture for real-time updates.

2. NFTs: Changing the Landscape of Digital Ownership

Non-Fungible Tokens (NFTs) are rapidly revolutionizing digital ownership. Initially, NFTs found fame through digital art, but now their applications are expanding into gaming, virtual real estate, and more. The unique ability of NFTs to verify ownership and authenticity has opened up entirely new markets and opportunities.

A. NFTs in Gaming and Virtual Real Estate

Games like Axie Infinity and platforms like Decentraland are at the forefront of the NFT revolution, where players buy, sell, and trade in-game assets and virtual land as NFTs. This shift towards virtual economies has created a new form of wealth creation in the digital world, with NFT-based assets becoming valuable commodities for gamers and investors alike.

B. Eco-Friendly NFTs: Sustainability Takes the Lead

As NFTs grow in popularity, concerns regarding their environmental impact have emerged. With Ethereum’s energy-intensive proof-of-work model, many NFT creators and collectors are seeking more sustainable solutions. Blockchain platforms like Tezos and Flow are offering environmentally friendly alternatives, ensuring that NFTs can thrive without compromising the planet.

3. Artificial Intelligence: Pushing the Boundaries of Innovation

AI is increasingly transforming how we approach technology, business, and creativity. Its applications span numerous industries, from healthcare and finance to entertainment and marketing. As AI continues to evolve, it is reshaping everything it touches, including cryptocurrency and NFTs.

A. Generative AI: Redefining Creative Possibilities

Generative AI is one of the most exciting developments in recent years, allowing machines to create art, music, text, and more. Tools like ChatGPT and DALL·E are enabling creators to produce high-quality content more efficiently and creatively. This technology has the potential to redefine what is possible in the creative industry, offering fresh opportunities for NFT creators and digital artists to explore new frontiers.

B. AI-Powered Trading and Crypto Investment

In the world of cryptocurrency, AI is playing an increasingly crucial role in trading. AI-powered platforms use machine learning algorithms to analyze massive amounts of market data, helping investors make more informed, data-driven decisions. This is especially beneficial in the fast-paced and volatile world of cryptocurrency, where Bitcoin and other coins can fluctuate dramatically within short periods.

For the latest Shiba Inu coin news and Bitcoin news, stay connected with CryptoVenture for up-to-date market trends and insights.

4. The Convergence: What Happens When Crypto, NFTs, and AI Meet?

As the worlds of cryptocurrency, NFTs, and AI continue to evolve, they are beginning to merge in unexpected and exciting ways. The intersection of these technologies promises to bring even greater innovation and opportunities.

A. AI-Driven NFTs and Digital Art

AI is playing an increasing role in the creation of NFTs, with algorithms now able to generate unique, high-quality digital artworks. This allows artists and creators to produce an endless variety of NFT assets that were previously unimaginable, broadening the horizons of digital art and ownership.

B. Smarter Crypto Trading with AI

In the fast-paced world of cryptocurrency, traders are now turning to AI for better analysis and prediction of market trends. By integrating AI with crypto trading strategies, users can automate their trading processes, make more accurate predictions, and ultimately maximize returns while minimizing risks.

C. Blockchain for AI Data Security and Privacy

The integration of AI with blockchain technology is enhancing privacy and data security. Blockchain ensures that user data remains encrypted, transparent, and tamper-proof, while AI enables the efficient processing of this data. This combination holds great potential for creating more secure digital platforms, where users can interact, transact, and share data without the risk of compromising privacy.

Conclusion: The Future Is Here

The rapid advancements in cryptocurrency, NFTs, and AI are not only changing the way we interact with technology, but they are also creating new opportunities for businesses, creators, and investors. By embracing these trends, individuals and companies can stay ahead of the curve in an increasingly digital and decentralized world.

For the latest updates on Bitcoin price today, coins news crypto, and Shiba Inu coin news, visit CryptoVenture for the most up-to-date insights. Whether you're a crypto enthusiast, an NFT creator, or an AI advocate, staying informed about these emerging trends will help you navigate the ever-changing landscape of digital innovation.

[samdrews]

Red Date Technology, the technical architect for China’s state-backed Blockchain-based Service Network (BSN), has launched the Universal Digital Payments Network (UDPN) to facilitate interoperability between stablecoins and central bank digital currencies (CBDCs) for cross-border payments. Announced at the World Economic Forum in Davos, the UDPN project aims to enable businesses from various countries to conduct transactions and settlements using regulated digital currencies, according to its white paper.

The project has been compared to the SWIFT network, the primary system for global interbank money transfers, but it seeks to make stablecoins and CBDCs compatible and interoperable. Unlike Ripple, which works with private financial institutions, the UDPN is intended to connect diverse digital currencies. While Red Date also develops the Blockchain Service Network (BSN), the UDPN white paper does not mention China’s digital yuan (eCNY).

The UDPN is expected to establish a common standard for CBDCs and stablecoins, similar to SWIFT's role for traditional financial messaging. From January to June, several "global Tier 1 banks" will participate in proof-of-concept trials to explore how UDPN can integrate digital currency into business, banking, and payment systems. Though the participating banks were not named, representatives from Deutsche Bank, HSBC, Standard Chartered, and Bank of East Asia attended the launch event.

One UDPN proof-of-concept test will focus on how two commercial banks can manage and circulate a token-based CBDC using UDPN infrastructure. However, Red Date notes that this use case is experimental due to the limited number of CBDC implementations worldwide.

4o

[atavisticcatholic]

🔴 BREAKING: CBDC Launch Date REVEALED, Prepare!

[driftair]

🔴 BREAKING: CBDC Launch Date REVEALED, Prepare! Hum?

[biblenewsprophecy]

Could Australia be moving towards the cashless world the WEF wants? (and then there is Canada’s ‘666’ move)

COGwriter

We continue to see more and more moves towards a cashless society around the world. The following report indicates that certain ones in Australia want to do that as well:

Australia has signed a World Economic Forum (WEF) treaty that will see all major banks in the country close as citizens are forced to transition to a fully cashless society. …

Bankwest, a subsidiary of the Commonwealth Bank of Australia (CBA), is the first bank to close its branches and move the remaining 15 CBA branches in an effort to go fully digital by October 2024. …

This announcement comes as Sydney-based banking software company Constantinople, a startup founded by two former executives of major bank Westpac, unveil a new app called Business+. They claim that this app will be an all-in-one mobile app that can offer Australia’s first end-to-end digital banking platform for the country’s 2.4 million businesses with fewer than 10 employees.

CBA and Westpac are two of Australia’s “Big Four,” or the four largest banks that have traditionally dominated Australia’s banking industry in terms of market share, revenue and total assets. The two others are ANZ and National Australia Bank. …

Great Southern Bank, one of the country’s largest credit unions, has already signed up to launch Business+. CEO and Managing Director Paul Lewis said the company had “taken the best of the neo-bank proposition, digitally first, with what we’re good at, which is the banking license side, regulatory requirements.” Neobanks are digital-only banking platforms that operate solely online.

“We’ve got the whole package, which I think is a first in Australia,” he said, noting that other neobanks launched with only a handful of basic products such as savings accounts, but no lending capability. Small businesses would be able to sign up for an account in under 10 minutes, a time frame he called “fantastic.”

Australian transition to cashless society hitting roadblocks

Australia is transitioning to a cashless society faster than almost anywhere else. Last year, the Australian Banking Association reported that the use of digital wallet payments on smartphones and watches had increased from AU$746 million ($494.28 million) in 2018 to over AU$93 billion ($61.62 billion) in 2022.

Nevertheless, the response to Bankwest’s branch closures shows that there is still strong opposition to Australia’s transition to a fully cashless society.

Many of the bank’s customers, for example, are up in arms over its decision to become Australia’s first major digital-only bank. https://thepeoplesvoice.tv/australia-signs-wef-treaty-to-close-all-major-banks-and-switch-to-fully-cashless-society/

While the above may contain exaggerations and there are objectors to fully digital money, the WEF and many others want a cashless world.

Yet, the World Economic Forum’s (WEF’s) session last summer raised concerns about cashlessness as the tweet at the beginning of this post and the article below suggest:

WEF elites admit potential for ‘darker world’ where CBDCs could be gov’t-controlled

Programmability is a key feature of CBDC, where governments, banks, and their customers could have total control over when, where, and how your money is spent.

June 30, 2023

Governments can program Central Bank Digital Currencies (CBDCs) with expiry dates and to restrict undesirable purchases, according to a discussion at the World Economic Forum (WEF) “Summer Davos” meeting in China. … in Tianjing, China, Cornell University professor Eswar Prasad said that “we are at the cusp of physical currency essentially disappearing,” and that programmable CBDCs could take us to either a better or much darker place.

“If you think about the benefits of digital money, there are huge potential gains,” said Prasad, adding, “It’s not just about digital forms of digital currency; you can have programmability – units of central bank currency with expiry dates.”

“You could have […] a potentially better – or some people might say a darker world – where the government decides that units of central bank money can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort, and that is very powerful in terms of the use of a CBDC, and I think also extremely dangerous to central banks.” [Emphases added] …

“So, there are wonderful notions of things that can be done with digital money, but again I fear the technology could take us to a better place, but equally has the potential to take us to a pretty dark place.” …

Speaking at a high-level roundtable on CBDC in Washington, D.C., in October 2022, International Monetary Fund (IMF) deputy managing director and former People’s Bank of China (PBoC) deputy governor Bo Li said of CBDC programmability:

“CBDC can allow government agencies and private sector players to program – to create smart contracts – to allow targeted policy functions. For example, welfare payment; for example, consumption coupons; for example, food stamps.” [Emphasis added]

“By programming CBDC, those money can be precisely targeted for what kind of people can own and what kind of use this money can be utilized,” he added.

So, while Lagarde says that central banks have no interest in programming CBDCs, central banks around the world are indeed exploring programmability, even if the central banks themselves are not the ones doing the actual programming. …

Programmability is a key feature of CBDC, where governments, banks, and their customers could have total control over when, where, and how your money is spent. https://www.lifesitenews.com/analysis/wef-elites-admit-potential-for-darker-world-where-cbdcs-could-be-govt-controlled/?utm_source=top_news&utm_campaign=usa

While there are some pluses with a digital currency, biblically we know that the darker side, the controlling of buying and selling, is coming.

Biblically, it is certain that massive state control over buying and selling will come to Europe (cf. Revelation 13:16-18)– as I have written for many years, some type of electronic currency will be involved. Other prophecies also point to persecution and censorship.

Item number 13 of my list of 24 items to prophetically watch in 2024 was titled CBDC and 666. Related to that, last year I wrote:

13. CBDCs and 666

Notice the following prophecy:

16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666. (Revelation 13:16-18)

This type of financial surveillance could not have happened during the time of the Apostle John as there was no real way to monitor many financial transactions then (despite the fact that ‘preterists’ believe this was fulfilled almost 2000 years ago, see also The Dangerous Rise of Preterists). The same was true for all the centuries that followed until the late 20th and now the 21st century. But now not only does the technology exist to monitor most financial transactions, the political will is there as well.

It will be a European power that will fulfill the above prophecy of 666 (watch Can You Prove that the Beast to Come is European?).

It will likely take supercomputers aided with artificial intelligence to aid in the fulfillment of the scriptures in Revelation 13:15-18, as well as cyber-spying/monitoring. I do believe that cyber monitoring will be used by the European Beast, King of the North, 666 power. …

While 2024 will not see a cashless world, expect to see more movements towards monitorable payments.

Expect to see more steps related to Central Bank Digital Currencies in 2024.

The fall of the US dollar and the trend towards digital money will concern many.

Look for more totalitarian steps to be proposed and/or implemented in 2024.

This is happening.

Notice also a video we made related to cashlessness:

14:17

Cashlessness and 1984

The government of Belgium is in the process of ordering small businesses to accept credit cards. In Sweden more and more cashless transactions are occurring. The European Central Bank as well as the government of the United States is working on developing Central Bank Digital Currencies (CBDCs). Could this be used for ‘1984’ type monitoring? Is something like this needed for ‘666’ control of buying and selling as warned in the Book of Revelation? Does the European Union now have a unit that could do ‘666’ monitoring? What about the use of gold? Steve Dupuie asks Dr. Thiel various questions related to these topics.

Here is a link to our video: Cashlessness and 1984.

We are getting closer to the day, with technologies unheard of when God inspired John to warn what would happen, that the totalitarian Beast of Revelation will be able to reign as well as enforce 666 controls.

UPDATE 03/19/24: Saw the following today related to Canada:

March 18, 2024

In a major push to seize control of the public’s financial freedom, Canada is radicalizing its banking system by linking citizens’ bank accounts to a tyrannical social credit score.

The Canadian banking system will soon be transformed by a so-called “open banking” framework.

Proponents are framing this as a more “inclusive” way for banks to easily share information and access user data.

However, the move will merge social standings with banking to provide governments and unelected bureaucrats with complete control over our finances. https://slaynews.com/news/canada-links-citizens-bank-accounts-social-credit-score/

In light of the following, I would consider the above a ‘666’ type move:

15 He was granted power to give breath to the image of the beast, that the image of the beast should both speak and cause as many as would not worship the image of the beast to be killed. 16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.  (Revelation 13:15-18)

The Bible prophesies the time will come when, if you do not do various things dictators want you to do, they will try to stop you from buying and selling. Canada looks to be moving in that direction, though it is not the 666 beast.

As far as the WEF and CBDCs go, we have the following related video:

14:22

World Economic Forum, CBDCs, and 666

Are there concerns about CBDCs (Central Bank Digitial Currencies)? The Summer meeting of the World Economic Forum (WEF) was held from June 27-29, 2023 in China. Did WEF speaker and Cornell University professor Eswar Prasad warn of CBDCs could “take us to a pretty dark place’? What did the European Commission say about the future of a digital euro and various protections the same week? Is the tweeted statement, “No one will be able to control how you use your euros” false in the long run according to biblical prophecies, such as Revelation 13:16-18? Is there a real ability to program a CBDC with an expiration date as well as restricting what it could be used to purchase? Has monitoring of purchase transactions been proposed by various European leaders? Does the EU already have a potential enforcement arm of ‘666’? Has the European Central Bank said that cash was “not fit for the digital economy’? Are we moving more towards a cashless world? Are things really changing towards that? Steve Dupuie and Dr. Thiel discuss these and other matters.

Here is a link to our  video: World Economic Forum, CBDCs, and 666.

Are YOU paying attention? Things are changing and will not remain as they have.

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Is a Great Reset Coming? Klaus Schwab of the World Economic Forum has proposed a societal change that has been basically endorsed by the Vatican and many world leaders. Does the Bible prophesy a major reset? Here is a link to a related video: Will there be a “Great Reset”?

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Orwell’s 1984 by 2024? In 1949, the late George Orwell wrote a disturbing book about a totalitarian government called “nineteen-eighty four.” Despite laws that are supposed to protect freedom of speech and religion, we are seeing governments taking steps consistent with those that George Orwell warned against. We are also seeing this in the media, academia, and in private companies like Google, Facebook, and Twitter. With the advent of technology, totalitarianism beyond what Orwell wrote is possible. Does the Bible teach the coming a totalitarian state similar to George Orwell’s? What about the Antichrist and 666? Will things get worse? What is the solution? Dr. Thiel answers these questions and more in this video.

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[dennisloos01]

Dennis Loos: The Future of Cryptocurrency

Dennis Loos, a leading expert in cryptocurrency, explores the latest trends and developments that could significantly impact the industry. With the COVID-19 pandemic forcing many companies to adapt to new ways of operating, the crypto world has seen a surge in interest and investment. As we move into 2023, we can expect to see new technologies emerge, such as blockchain scaling solutions, allowing for faster and more efficient transactions. Additionally, the rise of non-fungible tokens (NFTs) has created new opportunities for businesses to monetize digital assets, such as artwork and music. As the industry continues to evolve, it will be crucial for companies to stay ahead of the curve and adopt innovative strategies to remain competitive in the ever-changing crypto landscape.

Blockchain Scaling Solutions:

According to Dennis Loos, one of the critical challenges facing the cryptocurrency industry is the issue of blockchain scalability. With the increasing popularity of blockchain-based platforms and applications, the current infrastructure needs help to keep up with demand and handle the volume of transactions needed to support widespread adoption. Blockchain scaling solutions have emerged to address this challenge, offering faster and more efficient ways of processing transactions. These solutions include layer-two protocols, such as the Lightning Network and Plasma, allowing off-chain transactions to be settled on the main blockchain later.

Another approach is sharding, which divides the blockchain into smaller, more manageable parts, reducing the computational burden on individual nodes. These scaling solutions could increase transaction speeds, lower fees, and create a more seamless user experience for businesses and individuals. In the crypto world, companies that can leverage these solutions and offer faster, more efficient transactions will have a significant competitive advantage over those that cannot. As such, companies in the industry must stay up-to-date with the latest developments in blockchain scaling and embrace innovative solutions that can help them better serve their customers.

With the future looking bright for cryptocurrency, it's an exciting time for businesses to explore opportunities and take advantage of emerging trends in the industry.

Central Bank Digital Currencies (CBDCs):

Dennis Loos explained that Central Bank Digital Currencies (CBDCs) are another emerging trend in the crypto world. These are digital versions of a country's fiat currency, backed by a central bank and issued on a blockchain network. CBDCs aim to provide a secure and stable alternative to cryptocurrencies known for their price volatility.

Several central banks worldwide are exploring the possibility of launching their CBDCs, including the People's Bank of China, the European Central Bank, and the Federal Reserve.

The benefits of CBDCs could include:

Faster and more efficient payments.

Reduced fraud.

Better financial inclusion for people who are unbanked or underbanked.

CBDCs could provide new opportunities for businesses to expand their customer base and streamline transaction processes. In addition, CBDCs could reduce the costs of cross-border payments, thus facilitating international trade and commerce. However, the introduction of CBDCs also raises concerns about privacy and surveillance, as using a digital currency issued by a central authority could mean that transactions are more closely monitored than with decentralized cryptocurrencies such as Bitcoin. It will be necessary for businesses to carefully consider the implications of CBDCs before fully embracing them as a payment method.

Overall, the rise of CBDCs signals a shift towards greater mainstream adoption of digital currencies as central banks recognize the potential benefits of blockchain-based financial systems. For businesses in the industry, this presents opportunities and challenges that must be navigated to stay ahead of the curve.

Non-Fungible Tokens (NFTs):

Non-Fungible Tokens (NFTs) have become an exciting new trend in cryptocurrency, potentially revolutionizing how we monetize and interact with digital assets. As Dennis Loos has pointed out, NFTs are unique digital tokens representing ownership of a particular investment, such as artwork, music, or even real estate. Unlike traditional cryptocurrencies, which are fungible and interchangeable, NFTs are one-of-a-kind, offering a new level of ownership and authenticity in the digital world. This uniqueness has led to a surge in interest from collectors and investors, with some NFTs selling for millions of dollars at auction.

For businesses, NFTs present new opportunities to monetize and commercialize digital assets. For example, musicians can sell limited-edition NFTs of their songs, providing fans with a unique collectible and an additional revenue stream. Likewise, artists can mint NFTs of their artwork, offering buyers verifiable proof of ownership and increasing the value and prestige of their work. However, NFTs are still in their early stages, and the long-term implications of this new technology are unclear.

Some critics argue that they represent a bubble that will eventually burst, while others believe they could transform how we think about ownership and value in the digital age. As businesses consider the potential of NFTs, it's essential to exercise caution and develop thoughtful strategies that align with their goals and values. With the world of cryptocurrency evolving rapidly, companies that can navigate the complexities and take calculated risks will have a significant advantage over their competitors.

Decentralized Finance (DeFi):

Decentralized Finance (DeFi) is an area of cryptocurrency that has seen significant growth over the past year, as explained by Dennis Loos. DeFi is built on decentralized blockchain networks, such as Ethereum, and offers traditional financial services, such as lending, borrowing, and trading, without the need for intermediaries like banks. One of the critical benefits of DeFi is its ability to provide financial services to people who may still need access to them. This includes people in developing countries who may not have access to traditional banking services or those who the conventional financial system has underserved.

DeFi also offers opportunities for businesses to access new forms of capital and investment. For example, companies can raise funds through initial coin offerings (ICOs) or by issuing tokens representing ownership of a particular asset or project. This allows businesses to bypass traditional financing options like venture capital or bank loans and access new funding sources.

However, DeFi is not without its risks.

Smart contracts, which are the building blocks of DeFi protocols, can be vulnerable to hacks and vulnerabilities, leading to significant losses for users. Additionally, the lack of regulation in the DeFi space means there is no formal recourse for users who encounter issues, such as fraudulent or malicious activities. Despite these risks, the growth of DeFi represents a significant shift in the financial industry as businesses and individuals look for new ways to access and manage their finances. As technology improves and becomes more mainstream, we will likely continue to see fresh and innovative ways of using DeFi to support business growth and financial inclusion.

Conclusion: In conclusion, cryptocurrency continues to evolve and present new challenges and opportunities for businesses in the industry. As explained by Dennis Loos, emerging trends such as blockchain scaling solutions, CBDCs, NFTs, and DeFi will likely shape the industry in the years to come. As the world becomes increasingly digital and global, businesses adapting to these new trends and technologies will have a significant competitive advantage over those that cannot. With the potential to transform the way we think about finance, ownership, and value, cryptocurrency is an exciting and rapidly evolving field that requires careful consideration, innovative strategies, and a willingness to take calculated risks.

 As such, businesses that can stay ahead of the curve and navigate the complexities of the crypto landscape will be well-positioned to succeed in future years.

[metamoonshots]

[ad_1] Final up to date Oct 13, 2023 Now MetaMask customers can simply use Stripe fee service to buy crypto belongings immediately through MetaMask pockets.MetaMask is a well-liked Ethereum pockets. This pockets was initially launched by ConsenSys for the Ethereum community. Due to the extremely decentralized nature, MetaMask grabbed enormous reputation within the crypto sector & later the ConsenSys agency added help for different main crypto networks i.e Arbitrum (ARB), Optimism, Binance Sensible Chain (BSC), Polygon (Matic), Avalanche (Avax). Between Nov 2022 to Feb 2023, MetaMask confronted enormous criticism, as the corporate introduced a brand new buyer information use coverage, later ConsenSys retraced its determination.On 11 Oct 2023, MetaMask introduced that the corporate built-in the one-click fiat fee service Stripe within the MetaMask pockets. This new fiat fee possibility will enable MetaMask customers to buy crypto belongings with the assistance of 135+ fiat currencies and dozens of fee strategies, on behalf of consumers’ preferences.MetaMask token Following the success within the Crypto area, the MetaMask workforce determined to launch MetaMask’s native crypto token. This firm deliberate a token launch concept a few years again.Within the preliminary section of the MetaMask token plan, the corporate clearly stated that they might not deliver any crypto token with none correct use case. As per stories, MetaMask will launch its native token after elevating $450M in a sequence D spherical, and customers can qualify for the airdrop by finishing on-chain duties and utilizing Metamask’s all-in-one DeFi faucet and bridge aggregator. Right here individuals want to grasp that to this point MetaMask did not launch any token and all the opposite present MetaMask tokens within the crypto area are fake, and never backed by MetaMask immediately or not directly. In Jan of this 12 months, the MetaMask workforce warned individuals to stay away from MetaMask address poisoning, a faux Crypto handle equally trying like your/one other particular person’s handle. Learn additionally: MasterCard completes the CBDC transaction on the Ethereum blockchain [ad_2]

[ailtrahq]

Since September, Chainlink (LINK) price has gained more than 25%, outperforming Bitcoin (BTC), Ethereum (ETH) and most altcoins. Currently, the project is the leading decentralized blockchain oracle solution and ranks 15th in terms of market capitalization when excluding stablecoins. In September, LINK's price surged by an impressive 35.5%, but in the month-to-date performance for October, LINK has faced a 10% correction. Investors are concerned that breaking the $7.20 support level may lead to further downward pressure, potentially erasing all the gains from the previous month.Chainlink (LINK) 12-hour price index, USD. Source: TradingViewIt's worth noting that the closing price of $8.21 on Sept. 30 marked the highest point in over 10 weeks, but when looking at the bigger picture, Chainlink's price still remains 86% below its all-time high in May 2021. Moreover, over the past 12 months, LINK has shown little growth, while Ether (ETH) gained 21.5% in the same period.LINK marines placed all their hope on the SWIFT experimentThe LINK bull run began after SWIFT, the leader in messaging for international financial transactions, released a report on Sept. 31 titled "Connecting Blockchains: Overcoming Fragmentation in Tokenized Assets," suggesting that linking existing systems to blockchains is more feasible than unifying different central bank digital currencies (CBDC).Following a series of tests, SWIFT reported its capability to provide a single access point to multiple networks using existing infrastructure. This system relied on Chainlink's Cross-Chain Interoperability Protocol (CCIP) and was said to significantly reduce operational costs and challenges for institutions supporting tokenized assets.Part of the surge in Chainlink's value can also be attributed to the successful testing of their Australian dollar stablecoin by the Australia and New Zealand Banking Group (ANZ) using Chainlink's CCIP solution. In a statement dated Sept. 14, ANZ described the transaction as a "milestone" moment for the bank. Nigel Dobson, ANZ's banking executive, noted that ANZ sees "real value" in tokenizing real-world assets, a move that could potentially revolutionize the banking industry.On Sept. 21, Chainlink announced the mainnet launch of the CCIP protocol on the Ethereum layer-2 protocol Arbitrum One, aimed at driving cross-chain decentralized application development. This integration provides access to Arbitrum's high-throughput, low-cost scaling solution. StarkWare, another notable Ethereum scaling technology firm, had previously utilized Chainlink's oracle services.Changes to Chainlink’s multisig and dwindling protocol fees reduced investor interestHowever, the positive news flow was disrupted on Sept. 24 when user @StefanPatatu called out Chainlink on X social network (formerly known as Twitter) for quietly reducing the number of approvals required on its multi-signature wallet. The previous arrangement, which required four out of nine signatures to authorize a transaction, was viewed as a security measure.Chainlink responded by downplaying the concerns and stated that the update was part of a regular signer rotation process. This explanation did not invalidate crypto analyst Chris Blec's criticism that "the entire DeFi ecosystem can be intentionally destroyed in the blink of an eye" if Chainlink's signers were to ever "go rogue.Nevertheless, Chainlink's most significant metric, the protocol revenue generated by its price feeds, has been in decline for the past four months when measured in LINK terms.Chainlink price feeds revenue on Ethereum. Source: Dune Analytics & @ericwallachIn September, Chainlink price feeds generated 142,216 LINK in fees (equivalent to $920,455), a 57% drop compared to May. Part of this movement can be attributed to the decline in Ethereum's total value locked (TVL), which has decreased from $28 billion in May to its current $20 billion, representing a 29% decrease. Nevertheless, this doesn't account for the entire difference, and could cause investors to question Chainlink's revenue model sustainability.

It's important to note that Chainlink offers a range of services beyond price feed generation and operates on multiple chains, including CCIP, although Ethereum's oracle pricing services remain the core of the protocol's business.By comparison, Uniswap (UNI), the leading decentralized exchange, holds a market capitalization of $2.38 billion, which is 42% lower than Chainlink's. Uniswap also boasts $3 billion in total value locked (TVL) and generated $22.8 million in fees in September alone, according to DefiLlama.As a result, investors have reason to question whether LINK can maintain its $7.20 support level and sustain its $4.1 billion market capitalization.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

[dertaglichedan]

What Will America Be Like Under Biden’s Digital Dollar? Look At Communist China

Biden’s executive order gave the game away by stating that a U.S. digital dollar must ensure ‘financial inclusion and equity’ and monitor or mitigate ‘climate change and pollution.’

President Joe Biden issued a sweeping executive order last year on Central Bank Digital Currency (CBDC), which “places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC.”  

The Biden administration and its corporate media echo chamber want Americans to focus only on CBDC’s many benefits. But experiences in China, a nation that launched a digital currency in 2020, have shown that a CBDC considerably expands government power at the expense of individual freedom. 

China’s digital currency, e-CNY, differs significantly from cryptocurrencies like Bitcoin. For instance, neither central banks nor governments have the power to program or manage Bitcoin. The total amount of Bitcoin was capped at 21 million by its mysterious creator. Such a finite supply gives Bitcoin its anti-inflation property. While Bitcoin transactions are transparent for all to see, users remain anonymous. 

China’s central bank, however, controls the supply of its digital yuan and can dictate when and how people spend it. According to The Wall Street Journal, the Chinese digital yuan is programmable, and “Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start.”  

Users of the digital yuan do not have the benefit of anonymity, so they are traceable, and the government knows precisely when each person spends money and what they spend it on. The digital yuan gives China’s authoritarian regime another powerful surveillance tool to control the Chinese people. 

China’s intrusive social credit system already monitors 1.4 billion Chinese people, and it subjects their behaviors to various rewards and punishments. Beijing has a broad definition of “bad behavior,” ranging from running a red light to being critical of the Chinese government’s policies. Even before the digital yuan’s issuance, those Chinese citizens who received lower social credit scores due to “bad behaviors” struggled to live an everyday life. Many couldn’t travel because they were unable to buy plane or train tickets, some were denied school or employment opportunities, and some pet owners even had their pets confiscated.  

The digital yuan has enabled the Chinese government to reprimand human rights activists, religious practitioners, and government critics in new and terrifying ways: by instantly deducting fines from their bank accounts, confiscating their wealth, or banishing them from China’s digital payment system completely. Knowing they won’t be able to survive for a day in a cashless society is frightening enough to silence most dissenting voices. 

[coinmystique]

Supply: Charlie Fong (CC BY-SA 4.0)China is readying a recent digital yuan adoption push forward of subsequent month’s Asian Video games, with the nation prepared to point out off its CBDC to a big worldwide viewers for the primary time.Residents within the pilot zones will have the ability to purchase tickets for the occasion utilizing the central financial institution’s official CBDC app – a primary for a serious sporting occasion in China.The video games will probably be held in Hangzhou, Zhejiang Province, from September 23 to October 8.Beijing has earmarked the occasion, the primary large-scale worldwide sporting occasion to be held within the nation since COVID-19 pandemic containment measures have been lifted, as a key moment for its coin.Per Cebnet, state-run industrial banks and e-commerce platforms will probably play a number one function in showcasing the token to worldwide guests.The media outlet quoted a spokesperson from the e-commerce large Meituan as stating that the usage of the digital yuan in “large-scale international sports events” would assist to showcase the event of the Chinese language digital economic system and inclusive finance “to the outside world.”The tourism sector, banks and retailers commented, will present a “very good opportunity” for the additional adoption of the CBDC.They suppose the recent challenges of the tourism business may assist the “further improve the functionality” of the token.Banks and retailers promoted the coin at the recently-concluded Chengdu World University Games.It's probably they considered the occasion as one thing of a dry-run for Hangzhou.Banks issued manuals and instruction guides for utilizing digital yuan arduous wallets in Chinese language, English, French, and Spanish on the Chengdu video games.Retailers within the athletes’ village additionally upgraded their POS machines to simply accept CBDC funds.Asia Video games: Chinese language CBDC within the Highlight?The central Individuals’s Financial institution of China’s official CBDC app, per an official Baidu post, will probably be up to date to permit guests to the video games to “buy tickets and pay for transport.”Guests may even have the ability to use the app to test on occasion data and entry “other services.”Based on Eastnet, through the China Daily, the Industrial and Business Financial institution of China (ICBC) this week held a particular occasion at one of many new high-speed railway hyperlink hubs constructed for the video games.Rail networks in and round Hangzhou have already been updated to accept CBDC payments, as have metro networks in host cities.The financial institution stated it had launched commemorative “Asian Games-themed digital yuan hardware wallets.”These wallets may, theoretically, be utilized by non-Chinese language nationals, or Chinese language spectators from exterior the pilot zone.Certainly, Hong Kong guests to the mainland have been inspired to make use of the digital yuan to pay public transport fees.Related efforts will probably be made in the course of the video games subsequent month.The Hangzhou Asian Video games Predominant Operations Heart at work throughout a pre-games drill. (Supply: 19th Asian Games Hangzhou 2022)And per the Zhejiang Daily, the ICBC has additionally been lively with its digital yuan promotion actions in Wenzhou, a close-by metropolis that may host Asian Video games occasions reminiscent of dragon boat racing.The ICBC’s department within the metropolis stated that it had been engaged on new utilization “scenarios” for the digital fiat within the metropolis and had “upgraded and transformed bank outlets in the region.”Earlier this week, the financial institution introduced that it could co-launch a CBDC-powered supply chain financing solution.

[crynotifier]

Russian Banks MTS, PSB Begin Digital Ruble Tests

Russian Banks MTS, PSB Begin Digital Ruble Tests

Source: Alexandr Blinov/Adobe

The Russian banks MTS and PSB have begun testing the digital ruble, with “entrepreneurs” using the CBDC to pay for “services.”

The nation’s Central Bank has fast-tracked its CBDC project in recent weeks, and is eyeing a 2025-2027 national rollout.

The banks, along with the likes of VTB Bank, say that their customers and employees have carried out “real-world” transactions with the coin after advanced pilots began last week.

Per Content-Review, MTS’s payment technology chief Igor Chuchkin said the bank was “delighted to be among the first Russian banks to participate in the digital ruble pilot.”

Chuchkin said:

“We plan to look into more digital ruble-related offerings that we can offer our customers in the future, and we will base these on our initial experiences during the pilot.”

Meanwhile, PSB (full name: Promsvyazbank), gave details of one of the “real-world” digital ruble transactions carried out on its platform.

Per the media outlet Argumenti i Facti, PSB this week enabled one of its clients to “open a digital wallet” and use an app-generated QR code to “successfully make a payment for services.”

The bank said the client was an entrepreneur who “works in the field of online education.”

The media outlet added:

“The entrepreneur was also able to exchange digital rubles for [conventional] rubles and vice versa via the PSB mobile app, and carried out a B2C (business-to-customer) transaction in digital rubles.”

Transaction fees using the digital ruble have been set at 0.3%, although P2P transactions can be made free of charge, the Central Bank has stated.

Russian Banks Pushing for CBDC Progress?

Some 11 other Russian banks are also testing the CBDC with a select group of their clients in almost a dozen cities nationwide.

The Central Bank says that 16 other banks, including a number of regional banks, are “ready” to “quickly” join the pilot.

But not all of the country’s biggest banks are keen on the CBDC.

The nation’s biggest banking association has called on the Central Bank to slow the pace of the pilot.

And two Russian “megabanks,” Sberbank and Tinkoff, dropped out of the pilot at the eleventh hour.

It is currently unclear if the duo will join the pilot at a later date, or if they will wait until they are legally obliged to process CBDC transactions.

Earlier this year, experts claimed commercial banks could lose $684 million a year if the Central Bank launched a CBDC.

The Information contained in or provided from or through this website is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.

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