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Technology

Mastercard Launches CBDC Testing Platform

  • The platform is designed to mimic the issuance, distribution and exchange of CBDCs between banks, financial services companies and consumers.
  • A recent survey has shown that, while 80% of national banks are entertaining the idea of CBDC, 40% have already moved to actual concept and experimentation.
View of Mastercard's office building in Auckland, New Zealand, photographed on July 28, 2019. Shutterstock

  • The platform is designed to mimic the issuance, distribution and exchange of CBDCs between banks, financial services companies and consumers.
  • A recent survey has shown that, while 80% of national banks are entertaining the idea of CBDC, 40% have already moved to actual concept and experimentation.
Illustration from Freepik

MetaMask Launches On Android, iOS

  • The Open Beta is now available for both iPhone and Android testflight users.
  • The app will enable its clients to freely browse web3 and seamlessly interact with other blockchain-based applications from all around the world.
Bank of Korea in Seoul, Korea, on 3 January, 2007. Wikimedia Commons

Bank Of Korea Turns To Private Sector For CBDC Consulting

  • The bank has been accelerating the development of its CBDC this year, and is now looking to hire a private firm to help with the architecture of the project.
  • While the country remains skeptical about the need of a digital won, it is still planing to have a CBDC pilot up and running by late 2021.
Illustration from Freepik

LINE Launches Blockchain Development Platform, Digital Wallet

  • LINE's Blockchain Developers and BITMAX tools will ease the development of blockchain services, and the management of digital assets.
  • While the development platform has been released in both English and Japanese, the digital assets wallet is available only in Japan.

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NASA Introduces Blockchain-Based Communications Solution

  • The solution will be particularly helpful in allowing quadcopter swarms to stay nimble in inhospitable environments.
  • Blockchain algorithms will be specifically designed “lightweight and tailored” to route around potential communication disruptions.

Huawei Helps Beijing With Blockchain-Based Governance Platform

  • The platform will help Beijing connect its 50 municipal departments, and enable cross-departmental sharing and management of data.
  • It is claimed the platform could be used to monitor COVID-19 cases, in real estate management, road parking services, and for utilities provision.

Algorand Launches Comprehensive Smart Contract Capabilities

  • Developers now have the opportunity to scale their dapps to potentially billions of users.
  • Algorand will put even more efforts towards developing its platform, in order to power more next-generation dapps.

China’s Digital Yuan To Undergo Tests In Hong Kong’s Greater Bay Area

  • Being a megapolis consisting of nine cities, the Hong Kong Greater Bay Area might prove the perfect testing ground.
  • It is expected that the Guangdong Province will play a big role in the cross-border adoption of China's Digital Crrency Electronic Payment project.

Peter Thiel-Backed Blockchain Infrastructure Provider Alchemy Goes Public

  • After facilitating around $7.5 billion worth of on-chain transactions last year, the company decided to open its doors to the community.
  • In the newly-released public version, developers can enjoy some of the services for free.

Italian Banks Adopt R3’s Corda Blockchain To Improve Interbank Data Transfers

  • According to the Italian Banking Association, a total of 55 banks have been onboarded on the Corda-based blockchain platform.
  • As the Interbank Agreement was updated last year, more lenders are expected to integrate the standard by October.

Bank Of Japan Forms New CBDC Research Team

  • The new team will take over from a previous research group, and will likely follow up on the bank's 2019 research into CBDCs.
  • Japan's central bank also stated that, although it has no plans to release a CBDC soon, that could change in the future.

Thailand Testing CBDC With Large Businesses

  • The Bank of Thailand has reportedly already used its CBDC for financial transactions with some businesses.
  • The country's central bank is also planing to roll out the CBDC for transactions with Hong Kong's central bank in September.

China’s Digital Yuan Is Progressing Phenomenally Fast

  • Meituan Dianping's food delivery platform is now the third Tencent-backed company to become an early-stage tester of China's digital yuan.
  • Ride-hailing application DiDi, and video streaming platform Bilibili are also among the firms to test China's CBDC.

Singapore’s Project Ubin Ready For Commercial Launch

  • Ubin is a multi-currency blockchain payments project designed for commercial use.
  • This Monday, the Monetary Authority of Singapore completed the fifth and final development phase of the project.