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Central Banks and the IMF Warm Up to (Centralized) Digital Currencies

Sweden’s central bank, the Riksbank, is considering whether the country should introduce a purely digital form of government-backed money, perhaps using distributed ledger technologies (DLTs) similar to the blockchain technology underlying Bitcoin. This move is part of a recent trend: around the world, nations are considering cryptocurrencies issued by central banks; and recently, the managing d

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Central Bank of Papua New Guinea Adopts Blockchain Technology

The number of countries with banks experimenting with blockchain technology is growing rapidly. The Pacific island nation of Papua New Guinea (PNG), north of Australia, has joined the movement with its own central Bank of Papua New Guinea running blockchain trials.Central Bank Governor Loi Bakani, known as a champion of new technologies as a way to enable financial inclusion, recently hosted a con

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