Bangko Sentral ng Pilipinas (BSP) plans to introduce its wholesale central bank digital currency (CBDC) by 2029. The Philippine central bank’s CBDC initiative is near its proof-of-concept completion. “This is an innovative payment instrument,” said the BSP deputy governor. “This is an entirely new thing, and we have to make sure that we can offer…
According to the latest Global System for Mobile Communications (GSMA) study report, the success of artificial intelligence (AI) in Africa hinges largely on the availability of local language data and addressing the AI skills gap. The report urges African countries to prioritize investment in domain-specific and local language data. It also recommends adopting participatory approaches…
Tecban, a fintech that provides interconnection technology for banks, has launched a tokenization and associated services platform called Nexchain. This platform facilitates the process of placing assets on the blockchain for third parties as part of the Drex pilot. The platform will be launched in tandem with the second pilot phase of the Brazilian CBDC,…
Kennedy proposes that the federal government should buy Bitcoin until its holdings match the value of the nation’s gold reserves. US gold reserves are currently around 8,133 tonnes, which is worth around $615 billion. So, this amount of Bitcoin would equate to roughly 9.4 million BTC, which is almost 45% of the total supply. “I…
[PRESS RELEASE – Hong Kong, HK, July 26th, 2024] 2024 started with explosive growth in games like Hamster Kombat, breaking Guiness world record milestones, and Catizen, establishing itself as one of the fastest growing crypto gaming communities. After an explicit call from Telegram CEO Pavel Durov for a canine complement, it was only a matter of…
Russia’s State Duma has advanced a bill to regulate cryptocurrency mining, aiming to curb illegal activities and promote investment and employment. Proposed by the chairman of the Duma Committee on Financial Markets and supported by key deputies, the bill mandates strict guidelines for miners, including registration and government oversight. If passed, the law will take…
The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global…
The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial…
Gold advocate Peter Schiff has conducted two polls regarding bitcoin’s value and investors’ actions if the crypto’s price falls significantly. Despite his consistent criticism of bitcoin, the majority of respondents expressed strong commitment to holding their BTC even if the price drops drastically. Schiff maintains that bitcoin’s value proposition is flawed and anticipates a significant…
Michael Saylor, executive chairman of Microstrategy, believes the U.S. government should hold the majority of the world’s bitcoin, arguing this would strengthen the U.S. dollar. Drawing parallels to historic acquisitions, he views bitcoin as a critical asset for the future. Saylor emphasized: “The country gotta look to the future, and the future of the country…