“The Government needs to become as flexible and mobile as an IT company, to automate all functions and services,… reduce 60% of officials, introduce large-scale privatization and outsourcing of government functions”: Ukraine’s Minister of Digital Transformation
On Friday, the European Central Bank (ECB) announced that it had selected e-commerce giant Amazon.com (AMZN 0.92%) and four other entities to develop user interface prototypes for a possible digital version of the euro.
A new law is set to take effect in Israel starting August 1 that will ban payments of large sums of money in cash and bank checks. The goal of the reform, according to a statement issued by Israel’s Tax Authority, is to fight organized crime, money laundering and tax non-compliance.
Jamaica is in the midst of launching - and perhaps more importantly marketing - its own e-currency. The country's CBDC is called the Jam-Dex and it carries with it a tagline as relaxed as the nation's reputation: "No cash, no problem".
As the race against China’s development of its central bank digital currency (CBDC) known as the digital yuan continues, the U.S. Federal Reserve accomplished a feat in testing a design for a U.S. digital dollar that in one of two tests, managed to handle 1.7 million transactions per second.
The Federal Reserve released a long-awaited review of the potential for creating a central bank digital currency Thursday, after months of delays. Ahead of making a decision, the Fed has asked the public to submit answers on 22 questions posed in the report.