Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Central Bankers Say Bitcoin and Crypto Innovators Are Shaking Up Payments Industry, Tokenization Offers Benefits: Report

by Daily Hodl Staff
March 2, 2020
in Regulators
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

The Bank for International Settlements (BIS), an international financial institution that acts as a bank for central banks, has released its latest quarterly report, which takes a look at several trends in digital securities and payments.

The report affirms that by tokenizing securities, which is the process of converting assets to digital currency, banks and financial service providers can increase efficiency. According to the report,

“Bech, Hancock, Rice and Wadsworth analyse how tokenisation – or the digital rendition of assets – could improve the clearing and settlement of securities. They conclude that tokenisation might reduce costs and complexity but does not eliminate the risks associated with one party failing to settle transactions. The success of token-based settlement systems could depend on how well they interact with traditional account-based systems.”

Specifically, the 150-page report explores central bank digital currencies (CBDCs) as instruments that can protect user privacy while providing cash-like convenience for peer-to-peer payments. Digital currencies are also capable of reaching people with limited or no access to financial services. The researchers state,

“Central banks are increasingly exploring the desirability and feasibility of establishing their own peer-to-peer systems through digital currencies. Auer and Böhme (2020, in this issue) identify features that a central bank digital currency (CBDC) needs to become a trusted and widely usable medium for retail payments.

These include scalability, accessibility, convenience, resilience and privacy. Various technical designs differ in how well they support these features; the challenge is to design a CBDC that combines the virtues of a direct claim on the central bank with the convenience offered by intermediaries.”  

The analysis points to Bitcoin, Libra, stablecoins and new cryptocurrency platforms as game-changers driving faster, cheaper and safer transactions by linking payers and payees directly. Since wholesale systems usually only involve a small number of parties, innovations are simpler to develop and implement, while networks for high-volume, low-value retail payments, which once lagged, are now rapidly changing and driving convenient, instant transactions that are available 24/7.

You can read the full report here.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/r.classen

Submit a Press Release

Crypto Livewire – Press Releases

  • How Traders Are Gaining by Holding Crypto: Staking Tron (TRX) and Cardano (ADA)
    January 21, 2021
  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
Submit a Guest Post
Bitcoin
$32,544.00
$32,544.00
2.8%
Ethereum
$1,233.62
$1,233.62
1.91%
XRP
$0.275486
$0.275486
0.29%
Litecoin
$138.74
$138.74
4.07%
Bitcoin Cash
$444.03
$444.03
0.28%

Spotlight

  • Crypto Whale Moves $1.1 Billion of Ethereum-Based Asset SNX, Pays Just $7.45 in Fees
    January 16, 2021
  • Top Analyst Says One Crypto Asset Could Follow Aave’s Astronomical 58,000% Breakout
    January 20, 2021
  • DeFi and the Bitcoin Bull Run Trajectory: CoinGecko Report
    January 17, 2021
  • Crypto Regulation Will Accelerate Stampede of Money Into Bitcoin, Says Michael Saylor
    January 21, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.