Subject: eCurrency Newsletter May 2019


Newsletter  |  May 2019

FOCUS ON GLOBAL FORUMS
Spring Meetings Bring Heightened Focus on Central Bank Digital Currencies 
The 2019 IMF/World Bank Spring Meetings in Washington DC brought together finance ministers, central bank governors and other senior officials from more than 180 countries to discuss the global economy, and consider key policy and structural issues.  This year, within the framework of the New Economic Forum, the IMF explored two key areas of financial innovation and fintech - Central Bank Digital Currency (CBDC) and the Economics of Data.
Reference Architecture Working Group of the ITU FG DFC
The Reference Architecture Working Group of the ITU-T Focus Group Digital Currency including Digital Fiat Currency  convened on April 11, 2019 in Washington DC.  An interesting topic discussed was the use of CBDC for e-money interoperability. The growth of e-money industry would be even faster if e-money systems could inter-operate more effectively.
eCurrency Presents at Future of Cash Conference in Athens, Greece
Central Banks, commercial banks, and paper note and coin industry suppliers gathered to discuss the issues of decreased cash use at the Future of Cash Conference in February 2019.  Mitch Cohen, eCurrency Chief Security Officer, presented Central Bank Digital Currency enabled by eCurrency technology as another form of central bank money for the digital world. 

TECHNOLOGY
eSDRSolution for Cross-Border Payments
eCurrency announces a solution to enable financial service providers to conduct cross-border payments using a global digital composite asset of stable value named eSDR™. A white paper examining the opportunities to reduce cost, increase efficiency, mitigate counter-party risk and improve transparency of cross-border payments using the eCurrency eSDR solution for financial service providers and central banks is available here. 
PoC: Experience the Future of Money
An increasing number of central banks are investigating the feasibility of issuing a digital fiat currency. eCurrency digital fiat currency proof of concept service provides central banks with a firm basis to asses the various design considerations of digital fiat currency and their implications.  Request more information here.

RECOMMENDED READING
Last year in Canada, people used cash for only 1 in 3 transactions. That's down from more than half just 10 years ago.  Central bank digital currencies could give consumers more choice while maintaining competition among financial service providers like banks -- the way cash does now. Read "The Road to Digital Money" for Canada here.
The Bank for International Settlements conducted a survey of central banks to understand the motivation and level of their analysis in implementing CBDC.  Nine of the 63 central banks responded to the survey see themselves possible to very likely to issue CBDC in one to three years.

PRESS RELEASES
eCurrency announces partnership with PayLogic to deploy new generation Nation Retail Payment Solutions enabling fast secure payments between banks, e-money services providers, and merchants.  Transactions and settlements between the senders and recipients will be instant and final, and executed in central bank digital currency.
eCurrency is setting the standards for Central Bank Digital Currency and partnering with central banks around the world, working on projects that will enable countries to evolve their national currencies efficiently and securely.  eCurrency CBDC solution is featured in an nCipher case study and press release.


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Copyright © 2018



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