Subject: eCurrency Newsletter March 2018


Newsletter  |  March 2018

FOCUS ON CENTRAL BANKS

Many central banks are examining digital fiat currency more closely. New DFC projects were initiated last year and characteristics are being further defined.  Results are proving that DFC characteristics are similar to physical currency.The next steps are to identify the technology that can achieve the given specifications being drawn.This article discusses the various studies and projects that are ongoing.

POLICY AND TECHNOLOGY
As e-money becomes a significant part of GDP, there is an increase in government emphasis on visibility and control. DFC is the most effective way to secure the basis of the ecosystem and enable efficient interoperability. This article discusses the approaches taken by African economies.
The Internet of Things is transforming the way we are connected through devices, including methods of monetary transactions. DFC provides a more secure and efficient digital payments instrument in and it opens opportunities to all stakeholders for more trusted services.
In an interview published in YiCai Global, Dr. David Wen, Chair of ITU Focus Group on Digital Fiat Currency, discusses the technological advances being made and the impact on policy and standardization.  He highlights the policy questions around a Central Bank issued digital fiat currency.

IN THE NEWS
Announcing partnership with RCBC to launch digital cash
eCurrency issues a press release announcing a partnership with Rizal Commercial Banking Corporation to launch a secure digital money product in support of Bangko Sentral ng Pilipinas's regulatory sandbox initiative in the Philippines.

Introducing Dr. Bejoy Das Gupta as Chief Economist
Dr. Das Gupta joins eCurrency to driving the company's global expansion through broad engagement with multilateral organizations.

Introducing Athu Karume as President of Tanzania and East Africa Markets
As a member of eCurrency's markets team, Mr. Karume will focus on the East Africa Markets to expand presence, develop new partnerships, and move growth forward. 

RECOMMENDED READING
The ECB released highlights of the "Digital Transformation of the retail payments ecosystem" hosted by the European Central Bank and Banca d'Italia. The event provoked discussions on topics including innovation, interoperability, integration of retail payments, and cybersecurity in the financial ecosystem. 

Jonathan Dharmapalan,CEO, eCurrency provides comments in a Fleishman Hillard publication with insights shared by influential FinTech companies on trends, challenges and opportunities. See page 20 for Jonathan's comments. 

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