🚀 Hong Kong Monetary Authority Launches Second Phase Of Digital Hong Kong Dollar Pilot Program
#HongKong #MonetaryAuthority #DigitalHongKongDollar #eHKD #tokenizedDeposits #digitalCurrencies #pilotProgram #tokenizedAssets #programmability #offlinePayments #digitalCurrencyEcosystem
According to PANews, the Hong Kong Monetary Authority (HKMA) has announced the commencement of the second phase of its Digital Hong Kong Dollar (e-HKD) pilot program. This phase aims to further explore new types of digital currencies for both individuals and businesses, including the e-HKD and tokenized deposits. The project has been renamed 'e-HKD+' to reflect a broader exploration of the digital currency ecosystem.
Eleven selected institutions will conduct innovative use case studies in three key areas: tokenized asset settlement, programmability, and offline payments. This phase of research will assist the HKMA in understanding the potential design and operational challenges within a coexisting public and private digital currency ecosystem.#HongKong #MonetaryAuthority #DigitalHongKongDollar #eHKD #tokenizedDeposits #digitalCurrencies #pilotProgram #tokenizedAssets #programmability #offlinePayments #digitalCurrencyEcosystem
🚀 Midnight Network Launches Testnet for Seamless ZK DApp Development
#MidnightNetwork #Testnet #ZK #DApp #Blockchain #Cardano #DataProtection #Programmability #Developers #LargeScaleApplications
According to Foresight News, CoinDesk reports that the data protection blockchain Midnight Network has launched its testnet. The team behind Midnight Network stated that the blockchain, introduced as a partner chain to Cardano, aims to be compatible with other chains and facilitate seamless ZK DApp development. Midnight's infrastructure offers new programmability for developers to build large-scale applications and enables them to design in compliance with local regulations.#MidnightNetwork #Testnet #ZK #DApp #Blockchain #Cardano #DataProtection #Programmability #Developers #LargeScaleApplications
🚀 Eswatini Central Bank Unveils Digital Lilangeni Design Paper
#Eswatini #CentralBank #DigitalLilangeni #CBDC #TokenizedCurrency #FinancialInclusion #DigitalPayments #Privacy #Interoperability #CashLite #Programmability #GieseckeDevrient #Filia #AntiMoneyLaundering #ProofOfConcept
According to Cointelegraph, the Central Bank of the Kingdom of Eswatini has released a design paper detailing its potential central bank digital currency (CBDC), the digital lilangeni. The digital lilangeni is envisioned as a tokenized retail CBDC operating on a distributed database rather than a distributed ledger. The design paper outlines that the CBDC would feature hosted online wallets managed by financial institutions and hard wallets, likely in the form of smart cards, which could function without internet access. The currency would be intermediated, with financial institutions distributing it to users through infrastructure operated by the central bank. The digital lilangeni would offer pseudo-anonymity, preserving privacy while meeting Know Your Customer and Anti-Money Laundering requirements. Additionally, payments could be programmable at the wallet level to enable automated transactions or impose spending restrictions, such as for children. Despite efforts to promote a “cash-lite” society, cash remains the dominant payment method in Eswatini. The central bank phased out checks in 2022 and aims to ensure the digital lilangeni's interoperability within the existing electronic money framework and international standards. The lilangeni is pegged to the South African rand. The CBDC was developed in collaboration with Giesecke+Devrient using its Filia CBDC technology and has undergone proof-of-concept, sandboxed, and live pilot projects. Staff training delays were noted as a challenge that would need addressing for broader implementation. The Eswatini CBDC proposal shares similarities with Rwanda’s envisioned digital currency, both being token-based and operating on distributed databases. Programmability, while less favored in developed economies, could offer advantages in less developed regions. For instance, in Kazakhstan, programmable CBDCs are seen as tools to combat corruption.#Eswatini #CentralBank #DigitalLilangeni #CBDC #TokenizedCurrency #FinancialInclusion #DigitalPayments #Privacy #Interoperability #CashLite #Programmability #GieseckeDevrient #Filia #AntiMoneyLaundering #ProofOfConcept
🚀 Major Financial Institutions Testing Tokenized Deposits, BIS Report Highlights Risks and Benefits
#FinancialInstitutions #TokenizedDeposits #BISReport #SettlementEfficiency #Programmability #TransitionToTokenization #GovernanceRisks #LegalRisks #CreditRisks #LiquidityRisks #CustodyRisks #OperationalRisks #TransactionCosts #TransactionSpeeds #TokenizedAssets #CentralBanks
According to Odaily, a recent report by the Bank for International Settlements (BIS) emphasizes that major financial institutions are currently experimenting with tokenized deposits to enhance settlement efficiency and programmability. However, the transition from traditional finance to tokenization may pose several risks, including potential governance and legal framework issues, as well as credit, liquidity, custody, and operational risks. These challenges may differ from those faced by traditional market infrastructures, necessitating a comprehensive evaluation by central banks.
Tokenization offers numerous advantages, such as reducing transaction costs and accelerating transaction speeds. Despite these benefits, central banks are particularly focused on governance, legal, and liquidity risks associated with tokenized assets. The BIS report underscores the importance of addressing these concerns to ensure a smooth and secure transition to a tokenized financial system.#FinancialInstitutions #TokenizedDeposits #BISReport #SettlementEfficiency #Programmability #TransitionToTokenization #GovernanceRisks #LegalRisks #CreditRisks #LiquidityRisks #CustodyRisks #OperationalRisks #TransactionCosts #TransactionSpeeds #TokenizedAssets #CentralBanks
🚀 Research Paper on Optimizing Compiler for Encrypted Circuits Accepted at SBC'25
#ResearchPaper #OptimizingCompiler #EncryptedCircuits #SBC25 #Blockchain #Bitcoin #TransactionAcceleration #Nubit #Programmability #Security #UniversityOfCalifornia #UniversityOfIllinois #UniversityOfToronto #TechnicalConference #BTC
According to BlockBeats, a collaborative research paper titled 'Tessel: An Optimizing Compiler for Encrypted Circuits' has been accepted at the prestigious blockchain academic conference SBC'25. The paper is a joint effort by teams from the University of California, Santa Barbara, the University of Illinois at Urbana-Champaign, the University of Toronto, and the Nubit team.
The research focuses on efficient compilation optimization for encrypted circuits, providing foundational support for on-chain verification systems like the Bitcoin Thunderbolt network. It explains the principles of transaction acceleration on the native Bitcoin network and highlights Nubit team's pioneering efforts in enhancing programmability and security within the Bitcoin network.
SBC'25, established a decade ago, is a technical conference dedicated to innovation within the blockchain ecosystem, attracting leading researchers and practitioners in the field. The conference is scheduled to take place from August 4 to 6, 2025, at the University of California, Berkeley. It is co-hosted by IC3, the Stanford Blockchain Research Center (CBR), and UC Berkeley RDI.#ResearchPaper #OptimizingCompiler #EncryptedCircuits #SBC25 #Blockchain #Bitcoin #TransactionAcceleration #Nubit #Programmability #Security #UniversityOfCalifornia #UniversityOfIllinois #UniversityOfToronto #TechnicalConference #BTC
🚀 Indonesia to Launch Digital Rupiah by 2030
#Indonesia #digitalrupiah #RupiahDigital #BankofIndonesia #SRBI #paymentSystem #distributedledgertechnology #monetaryoperations #financialmarkettransactions #tokenization #programmability #composability #2030
According to PANews, the Bank of Indonesia is set to introduce a digital version of the Indonesian rupiah, known as Rupiah Digital, as part of its Sekuritas Rupiah Bank Indonesia (SRBI) initiative. The rollout is planned to occur in phases, with completion targeted by 2030.
The central bank's strategy involves a gradual implementation, beginning with trials for digital securities issuance, transfers, and withdrawals between 2025 and 2026. Further testing will take place from 2027 to 2028, focusing on monetary operations and financial market transactions. Advanced features such as programmability, composability, and tokenization are expected to be introduced between 2029 and 2030.
The digital rupiah will be built on distributed ledger technology, as outlined in the Bank of Indonesia's 2030 Payment System Blueprint.#Indonesia #digitalrupiah #RupiahDigital #BankofIndonesia #SRBI #paymentSystem #distributedledgertechnology #monetaryoperations #financialmarkettransactions #tokenization #programmability #composability #2030