Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • CBDC (Central Bank Digital Currency)
  • Crypto Trading
  • Cryptocurrency
  • News
  • Ripple (XRP)

Ex Boston Fed Head: CBDC Is Possible, But Without Blockchain

Alicia Maher October 18, 2021 3 min read

Previous Federal Reserve Bank of Boston Director, Eric Rosengren, clarified the notion of a Central Bank Digital Currency (CBDC) for the USA. But he doubts blockchain will be engaged. Rosengren predicts that the US CBDC will occur in the future. He further stated that this might take quite some time since it would include the White House, Congress, and the Fed coming to a consensus. Rosengren explains that a federal CBDC would be distinct from Stablecoins and other Altcoins.


trade now

As per Rosengren, blockchain technology is inadequate for a CBDC since the public ledger is not as efficient a vehicle for satisfying the organizational needs which they believe they will need.  He thinks a US CBDC would be more like present digital payment processing platforms.

Rosengren made his debut at the Federal Reserve Bank of Boston in 1985. He was named Chairman of the Boston Fed in July 2007 and served until September 30, 2021. So Rosengren held the position from Bitcoin’s conception until his retirement at the age of 64.

U.S Fed Is Looking Into CBDC

Eric Rosengren’s recent remarks are founded on an unpublished research study from MIT and the Boston Federal Reserve Bank, due out in late Q3. The study report was announced earlier by Fed Chairman Jerome Powell on September 22, 2021. Powell said his upcoming study would examine the expenses and advantages of a central bank digital currency or CBDC. 

However, while the Fed has still yet to provide a definitive yes or no, Powell did state that the institution is actively evaluating if and how to establish a CBDC. In other words, the United States is the most recent country to consider the idea of a CBDC, after the commencement of similar efforts under other nations such as South Korea, Nigeria (e-Naira), and New Zealand, which are now in production.

CBCD In Britain

Ripple Aids the Growth of the UK Digital Pound CBDC. This is part of Ripple’s ongoing effort with financial institutions globally on technological and regulatory concerns related to central bank digital currencies (CBDC). The Digital Pound Foundation also comprises Accenture, CGI Group, and Quant.

Currently, almost 80% of global financial institutions are investigating cryptocurrency and CBDCs. The Bank of England published an in-depth research paper on central bank digital currencies in June. There were worries about the adoption and regulation of sovereign-issued digital money. Following its introduction, BoE governor Andrew Bailey stated that CBDCs could herald in a new age. This may be one of the greatest important changes in central banking history, he said.

Furthermore, Ripple’s latest CBDC partnership comes less than a month after the company announced a relationship with Bhutan’s Royal Monetary Authority. Bhutan intends to launch its own digital currency based on Ripple’s CBDC internal ledger.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Financial Advisors Managing $110 Trillion Can Now Offer Crypto Trading to Clients via Interactive Brokers
Next: Zimbabwe Inches Closer to Cryptocurrency Adoption

Related Stories

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
3 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?

May 27, 2022
27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Crypto Trading
  • Ethereum (ETH)
  • News
  • Price Analysis

27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness

May 27, 2022
Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
2 min read
  • Altcoins
  • Cardano (ADA)
  • Crypto Trading
  • Cryptocurrency
  • News
  • Price Analysis

Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis

May 27, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$28,810.00
-2.54%
ethereum
Ethereum (ETH)
$1,748.73
-4.59%
tether
Tether (USDT)
$1.00
-0.01%
usd-coin
USD Coin (USDC)
$1.00
-0.16%
binancecoin
BNB (BNB)
$303.07
-2.69%
ripple
XRP (XRP)
$0.386697
-2.69%
Binance USD
Binance USD (BUSD)
$1.00
-0.10%
cardano
Cardano (ADA)
$0.461297
-4.61%
dogecoin
Dogecoin (DOGE)
$0.081879
3.18%
polkadot
Polkadot (DOT)
$9.33
-0.24%

Recent Posts

  • $240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
  • 27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
  • Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
  • Ethereum, Ripple, Cardano Price Analysis – 27 May 2022
  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • 26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?

Categories

You may have missed

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
3 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?

May 27, 2022
27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Crypto Trading
  • Ethereum (ETH)
  • News
  • Price Analysis

27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness

May 27, 2022
Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
2 min read
  • Altcoins
  • Cardano (ADA)
  • Crypto Trading
  • Cryptocurrency
  • News
  • Price Analysis

Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis

May 27, 2022
Ethereum, Ripple, Cardano Price Analysis – 27 May 2022
2 min read
  • Altcoins
  • Cardano (ADA)
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

Ethereum, Ripple, Cardano Price Analysis – 27 May 2022

May 27, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%