eCurrency Newsletter - November 2021

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Subject: eCurrency Newsletter - November 2021

DRAFT

Newsletter | November 2021

Your source for CBDC development updates

JAMAICA CBDC PROJECT

BOJ issues CBDC to National Commercial Bank

November xx, 2021 | Jamaica news

Bank of Jamaica has issued...

In August following a process akin to the minting of physical currency, the BOJ announced its first minting of CBDC in total of JMD230 million.

xxx Read

Cabinet approves drafting instructions for CBDC October 6, 2021 | PBC Jamaica

Cabinet has granted approval to amend the Bank of Jamaica Act to facilitate the issuance of Central Bank Digital Currency and for the Bank of Jamaica to be the sole issuer of CBDC. Watch

CBDC discussed at the Ministry of Finance and Public Service Wealth Summit

October 20, 2021 | Jamaica Information Service

The Bank of Jamaica Deputy Governor, Natalie Haynes, presents Central Bank Digital Currency at the MOFPS Wealth Summit. Watch

Not all money is created equal

October xx, 2021 | Jamaica Gleaner

The Bank of Jamaica, quite proactively, has authorized the minting of digital currency. This is currency issued in a digital format by the Central Bank. Read

IN THE NEWS

A viable central bank digital currency would have to be the law

October 16, 2021| Yahoo! Finance

"Our perspective is that currency is the law. Every nation or monetary union has a foundational law that defines what their currency is. So if you're thinking about a digital form of currency then the law must accommodate its existence." saidJonathan Dharmapalan, eCurrency CEO, in an interview with Yahoo! Finance. Read

Indra and eCurrency join forces to deliver end-to-end digital currency solutions to central banks

October 6, 2021| Indra Company

eCurrency and Minsait Payments, the payment method subsidiary of Minsait, in Indra company, have come together to offer solutions and services to drive the growth of CBDCs and their ecosystems in several geographical regions. Read

eCurrency closes a funding round with new investors

October 5, 2021 | The Paypers

eCurrency has closed a funding round with new investors including Vikram Pandit, the former CEO of Citi Group. Read

eCurrency joins ANZ in MAS Global CBDC Challenge

September 29, 2021 | eCurrency

ANZ Bank, one of the 15 finalists in the Monetary Authority of Singapore Global Central Bank Digital Currency Challenge has selected eCurrency to develop and showcase the use of CBDC to enable government and citizens a digital ecosystem experience. Read

CENTRAL BANK OUTLOOK

The positive case for a CBDC

This paper discusses the competition and innovation arguments for issuing a central bank digital currency (CBDC). A CBDC could be an effective competition policy tool for payments. On innovation, the paper argues that a CBDC could be necessary to support the vibrancy of the digital economy by helping solve market failures and fostering competition and innovation in new digital payments markets. Overall, competition and innovation are supporting arguments for issuing a CBDC. Read

The international role of the euro, June 2021

Special Feature, Section B of the report examines how issuance of a central bank digital currency (CBDC) could impact the international role of currencies. It stresses that the global appeal of currencies depends on fundamental economic forces which digitisation is unlikely to alter. Read

BIS Working Papers No. 948

Central bank digital currency: the quest for minimally invasive technology

CBDCs should let central banks provide a universal means of payment for the digital era. At the same time, such currencies must safeguard consumer privacy and maintain the two-tier financial system. Read

A Bank of Israel Digital Shekel

Potential Benefits, Draft Model, and Issues to Examine

The Bank of Israel has decided to accelerate its learning, research, and preparation leading to the potential issuance of a Bank of Israel digital currency in the future. Read

Central bank digital currencies - 3rd report of working group

Norges Bank and a number of other central banks are researching the introduction of a CBDC as a supplement to cash. For Norges Bank, the paramount question is whether introducing a CBDC is an appropriate measure for promoting an efficient and secure payment system and confidence in the monetary system. Read

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Subject: eCurrency Newsletter - November 2021