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65% of Americans oppose the digital dollar concept

Most Americans negatively react to the idea of the U.S. authorities issuing a digital dollar. That's the conclusion reached by researchers who polled 2,000 people.

Chinese schools start testing the digital yuan

Chinese authorities launched digital yuan testing in educational institutions via pre-paid school student cards.

Israel welcomes Central Bank plans to create a digital currency

The Bank of Israel got public approval to develop a central bank digital currency but is still uncertain about the purpose of developing it.

CBDC: explore what they are and why they will replace cryptocurrencies

The world witnessed the emergence of a new type of payment technology, i.e., cryptocurrencies. Relying on decentralization and anonymity, cryptocurrencies started to gain popularity in different countries as a means of secret payment transactions, including illegal activities. As a response, central banks of many countries started to develop their own versions of this technology, namely, central bank digital currencies. Soon, they will replace the altcoins and stablecoins we are already familiar with.

Chinese CryptoYuan origins

Less than a decade ago, China actively opposed all types of cryptocurrencies and their mining. Even today, Chinese President Xi Jinping mentioned blockchain technology in his speech and called for accelerating the development of other core technologies in this area. Somewhat later, the Chinese media reported testing a new Chinese cryptocurrency that could challenge the global dominance of the U.S. dollar. 

WSJ: On the day of the opening ceremony of the Winter Olympic Games, Beijing's Digital Yuan surpassed Visa by number of transactions

The exact number of transactions made on that day is not reported. However, when choosing to pay by Visa card, cash, or digital yuan, competitors mostly chose the latter.     

The EU will develop a prototype of the digital euro in 2023

Why is it so important?

• CBDC launch is a threat to euro-pegged stablecoins.
• CBDC development may result in banning the use of cryptocurrencies, as has already happened in China. 

Cryptocurrency and its types: altcoins, stablecoins, CBDC

Every year, cryptocurrencies are becoming more and more popular as a means of payment, trade, and investment. This is evident from the growth in the number of new digital coins, reaching close to 17 thousand as of today and still increasing. In this article, we will tell you what cryptocurrency is, its main types, pros and cons.

The Central Bank of Switzerland successfully tested CBDC

Why is it so important?

• The Central Bank Digital Currency (CBDC) is a direct competitor to cryptocurrencies. It has almost identical features as digital money, but it is not anonymous and is owned by the state.