The BIS Innovation Hub has published a handbook to assist central banks in implementing offline CBDC technology, aiming to advise on security measures, risks, privacy considerations, and resilience options. The guide highlights the potential benefits of enabling offline use for CBDCs in achieving public policy objectives aligned with central banks’ mandates.
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Exploring Offline CBDC Payments: Balancing Privacy, Fraud, and Accessibility
The Bank for International Settlements (BIS) explores offline central bank digital currency (CBDC) payments and their potential risks, including counterfeit threats and privacy issues, in a collaborative project with Consult Hyperion. The BIS emphasizes the importance of interoperability, risk management systems, and collaboration between public and private sectors for secure and reliable digital currency environments.
Unbacked Cryptocurrencies: Ponzi Schemes or Legit Investments? Central Bank’s Dilemma
Central Bank of Ireland Governor Gabriel Makhlouf likens unbacked cryptocurrencies to a “Ponzi scheme” and emphasizes the importance of differentiating between ‘backed’ and ‘unbacked’ crypto. The recent approval of MiCA by the European Parliament marks a significant step in cryptocurrency regulation, acknowledging the potential of cryptocurrencies while protecting consumers and investors from unwarranted risks.
Chia Network Enters Web3 Gaming: Facing Giants and Redefining the NFT Landscape
Chia Network launched the Chia Open Digital Economy (CODE) framework, aiming to empower an open metaverse of games and applications with interoperable assets. Chia announced a proof-of-concept trading card game, ChiaTCG, embracing Chia NFTs and turning them into playable cards, showcasing the potential of NFTs within gaming.
Blockchain Revolutionizing Sustainability: Debunking Greenwashing and Driving Climate Action
Blockchain technology can revolutionize sustainability efforts across industries, combating climate change and improving market transparency. The technology addresses greenwashing by verifying company sustainability claims through efficient tracking and maintaining records. This fosters credibility, achieves climate goals, and builds consumer trust.
AGI in Crypto’s Future: Revolution or Catastrophe? Debating Pros, Cons, and Conflicts
CEO of Google DeepMind, Demis Hassabis, believes human-level cognition in AI systems, known as artificial general intelligence (AGI), could be achieved within a decade, impacting industries like cryptocurrency. However, with no clear consensus or timeline, the debate continues, emphasizing the need for caution and assessing potential risks alongside benefits.
Credibly Neutral Raises $5.5M: Balancing Innovation, Inclusivity, and Potential Pitfalls in Crypto VC
Crypto venture capital firm Credibly Neutral has raised $5.5 million from investors, including Solana and Polygon founders. The early-stage-focused fund aims to invest in protocols, infrastructure, and crypto software-as-a-service projects while promoting credible neutrality and fostering a more inclusive blockchain future.
AI’s Rising Role in Crypto: Opportunities, Challenges, and Finding Balance
Crypto.com introduces “Amy,” an AI companion providing users with real-time token prices, project updates, and industry insights. As the crypto community becomes increasingly intertwined with AI, leveraging this technology promises improved user experience, better decision-making, and enhanced efficiency, while also addressing potential risks and challenges.
Crypto.com’s AI Companion Amy vs Binance’s Caution: Divergent Approaches in Crypto Space
Crypto.com recently introduced Amy, an AI-focused companion developed to provide users with real-time information on projects and tokens, and to function as a crypto expert resource for new users. Based on OpenAI’s ChatGPT technology, Amy is currently in beta, aiming to assist users in spotting industry opportunities. Crypto.com’s AI approach contrasts Binance, which has faced issues with ChatGPT-generated fake news.