Subject: eCurrency Newsletter November 2017

Newsletter  |  November 2017

The new ITU Focus Group looking at digital fiat currency has established three working groups to guide its analysis of the standardization and regulation necessary to the security and interoperability of digital fiat currency.
The working groups will define the requirements of digital fiat currency as they relate to regulation, technical and business dynamics, and security.
While Initial Coin Offerings (ICO) have been banned by Chinese authorities since Sept 4, experts, scholars, and companies from more than 40 countries gathered at a workshop in Beijing, the country's capital city, from Thursday to Friday, to chart a course for digital fiat currency issued by central banks.
An article featuring an interview with the chairman of the ITU Focus Group for Digital Currency including Digital Fiat Currency, Dr David Wen, covering the events and main issues discussed at the Beijing meetings.
James Masoy, Manager, Oversight and Policy Department of the Bank of Tanzania, discussed the adoption of digital fiat currency in the context of Tanzania as an emerging economy at the first ITU FG DFC meeting in October.


DFC Bearer Instrument

eCurrency put forward digital fiat currency as a digital bearer instrument in a workshop attended by more than twenty six central banks, organized by Bank for International Settlement and hosted by Bank of Tokyo recently.
Digital fiat currency in the form of a digital bearer instrument possesses a number of distinctive characteristics of physical fiat currency.

Independence Day Speech by PM Modi

Commemorating India's 41st Independence Day, Prime Minister Narendra Modi delivered a  speech in which he spoke of progress for India.  Among other areas, he encouraged his nation to look ahead to a digital India enabling digital transactions and moving from physical to digital currency.  
Riksbank Publishes Report on E-Krona

Riksbank has launched a project to evaluate a digital form of the Swedish Krona.  The Central Bank is proposing an e-krona to be a complement to physical currency. An e-krona is being investigated in a phased approach in order to do a thorough examination of its legal and technical implications.

ITU Reference Architecture
ITU to use eCurrency's security architecture to develop its reference architecture for digital fiat currency
PayPro Partnership
PayPro is partnering with eCurrency to deliver a high-security universal digital payment instrument.


The Roland Berger Think:Act publication series Part 3 Central Banking IT of the Future features an interview with Jonathan Dharmapalan, eCurrency CEO, discussing digital banking. See page 18.
BIS Reports on Central Bank issued Digital Currencies
As a special report in Septemer 2017 issue of the BIS Quarterly Review, the international financial organization presents the taxonomy of money to determine the nuances of a digital central bank currency. 
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