- BRICS and the Reserve Bank of India are exploring ways to reduce cross-border payment costs and rolling out the digital rupee pilot scheme.
- BRICS and central bank representatives are discussing dedicated financial corridors and testing instant payment platforms using CBDCs.
CBDCs Confirmed to Enable Programmable Money
What happened
It was confirmed that Central Bank Digital Currencies (CBDCs) are capable of enabling programmable money. According to reports, these currencies represent structural changes to the relationship between the individual and the state. Examples of this transformation include the digital euro, the potential digital dollar, and the digital yuan operational in China.
From zerohedge.com
Why it matters
The reports suggest that the shift means the option to buy something without creating a permanent record may gradually disappear. This transformation is described as a fundamental change to the relationship between commerce and surveillance. The ability to save purchasing power outside of a monitored system may become fictional for future generations.
BRICS and central bank representatives are discussing dedicated financial corridors and testing instant payment platforms using CBDCs. BRICS and the Reserve Bank of India are also exploring ways to reduce cross-border payment costs and rolling out the digital rupee pilot scheme.
From zerohedge.com
Who's involved
- Bank for International SettlementsInternational financial institution owned by central banks
- ChinaNation that has a digital yuan operational
- European Central BankCentral bank of the European Union and the eurozone
How this reaches others
Each traced step by step, with the reporting behind itKeep exploring
The entities involved
-
Bank for International Settlements
international financial institution owned by central banks