Now New Zealand Is Serious About Having A CBDC, Public Opinion Sought On Project 0 11

New Zealand has become the newest state of the world intending to explore the possibility of having a CBDC. The country is seriously considering the fact that it will have to immediately start working on the national CBDC project and in order to show its seriousness, the country’s central bank has sought public opinion as to whether such a project should be taken on or not.

Because of the crypto boom, many states of the world have developed serious interests towards developing their national CBDC.

CBDC is a project which, to some, it is unnecessary and literally nothing but for others it is the future. Currently, there are more than 83 countries of the world who are/were interested in developing CBDCs, and New Zealand is amongst them. So far five CBDCs projects have seen their completions and working successfully, which include Bahamas as the first country having launched CBDC. Approximately, 16 CBDCs projects of the world are currently work in progress and will take further time before the final launching. There are however 14 CBDCs which are undergoing testing, amongst them are states such as Ukraine, Saudi Arabia and China.

Ukraine, which is also moving into the CBDC testing phase, is currently searching for a suitable developer for installing a blockchain network.

This is enough to let know other states that the whole world is going after CBDCs. This very aspect has been also recognized and acknowledged recently by New Zealand as well. New Zealand’s Reserve Bank i.e. the country’s central bank was seen collecting public opinion regarding the CBDC project. However, the bank has officially announced collection of data for determining the public’s interest towards possible CBDC project. The announcement was made public on 30th September, 2021.

Christian Hawkesby, who is the Asst. Governor of the country’s central bank said that they need to work on CBDC project. He suggested that the bank is aware that almost entire world is taking the issue of CBDCs very seriously. However, the Reserve Bank does not want to follow others but instead would like to arrive at a decision based on public opinion. New Zealand will only work towards CBDC if the project is feasible and that the public interest in the project is involved. Without either of the two, in no way Reserve Bank will think of carrying out the project, clarified Hawkesby.

Hakesby also said that the bank has no doubt that the project will be beneficial for the private sector. Even the monetary sovereignty of New Zealand can be safeguarded by digitalizing national currency. However, while doing so, the bank would need to first ensure that the national currency’s stability is kept intact. Similarly, the bank would need to also address and highlight the risks that come with CBDC.

In the end, Hawkesby said that the future of New Zealand’s CBDC project now rests with the nation. Public opinion is sought and only the public will decide whether the country should or shouldn’t carry out the CBDC project.

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Sentenced ‘Bitcoin Czar’ Named Among Pandora Papers 0 9

Juts couple of days ago ICIJ published its new research about some of the world’s top leaders’ and influential peoples’ stories of financial misconducts.  The reports by ICIJ also argued that “Bitcoin czar” may have been the member of the Carbanak hacking group. The International Consortium of Investigation Journalists (ICIJ) have also discussed the crypto criminal in their new leaks called “Pandora Papers.’

The ICIJ’s Pandora Papers have claimed “Bitcoin czar” a famous criminal who masterminded the largest “cyberheist in history” own the offshore assets. However, the Pandora Papers also said that those offshore assets being managed by a third independent firm.

Pandora Papers have exposed how some of the world’s most influential people have hidden their wealth. Where those papers have exposed world’s top 300 politicians and businessmen. The report has also discussed the operations of hacker group Carbanak. The cybergang according to the reports have stolen around $1.24 billion from financial institutes and the digital crypto exchnages as well. The network operated over more than 100 countries from 2013 to 2017.

However, the most famous arrest of this network’s members came in 2018, when the authorities finally managed to arrest the master mind Denis Tokarenko (also known as Denis Katana), and many people have voiced that Pandora Papers indirectly called his name.

The reports published by the Bloomberg’s business research and network team concluded that at the time of Tokarenko’s arrest back in the month of March 2018, the Spanish National Police recovered 15,000 Bitcoin (BTC), worth $162 million from his possession. This is history’s biggest crypto scam till today.

The illegal approach adopted by the Tokarenko did not just end here. The Chief inspector of the Spanish police, Carlos Yuste also told the sources that Tokarenko also purchased a bitcoin mining system in China. He used his mining system to launder his illegal Bitcoins as well.

Despite the fact that Pandora Papers have not directly covered the crypto thefts and other cyber-attacks, but these papers have partially included the incidents from digital trading as well. This leads to the future possibility the ICICJ might decided to open up about the digital thefts and cybercrimes incidents as well.

But the fact is that Pandora Papers have provide quite the useful insight about the some of world’s most famous cyber-attacks on the recent time. If authorities decided to put investigate these facts, then there might be multiple people who find them behind the bar. The primary issue regarding the cyber-attacks culprits is that majority of them gets away because of the lack of the profs. The only notable person who was sent to prison on committing a cybercrime was former Rizal Commercial Banking Corporation employee Maia Santos Deguito.

Uzbekistani Citizens Warned Against the Use of Unauthorized Exchanges 0 9

The government of Uzbekistan has been quite proactive when it comes to the use of crypto exchanges. As most of you may know, there has been a fair bit of commotion in the crypto world and most of it exists because of the regulations being implemented by a large number of governments. While some people are not in the favor of these regulations, many people, including a large number of crypto experts believe that they will be quite handy.

This is because regulating crypto will ensure that people don’t have to worry about false transactions, scams, frauds, and a large number of other issues prevalent in the world of crypto. The government of Uzbekistan has been especially quite determined to eliminate crypto-related corruption in the country. One of the first steps that the country has taken is to make sure that people in the country steer clear from making transactions with unauthorized exchanges.

For those who don’t know, there are loads and loads of exchanges operating in Uzbekistan and other countries in the world. Sure, not all of them are unauthorized but you will be surprised to learn that a large number of them happen to not be authorized.  What makes things so complicated is the fact that knowing which exchange is legit and which one isn’t can be quite challenging. This is because most exchanges, if not all, look one in the same and it is difficult for people to tell them apart.

This is one of the main reasons why the government of Uzbekistan has stepped in and tried to take matters into its own hands. One of the main aims of this exchange is to make sure that people do not have to worry about checking which exchange they would choose to invest crypto in. Instead, the government has been helping people quite a bit by creating teams just for the purpose of checking these exchanges.

In addition to that, the Uzbekistani government has also issued a notice against unauthorized crypto exchanges, stating that using them could result in serious action. Upon checking some of the exchanges operating in Uzbekistan, it was learned that there were more than 5 of them that did not have their own offices in the country. Instead, research teams found out, after a thorough investigation that these unauthorized exchanges were operating from somewhere else.

This was enough to suggest that the government is indeed hard at work to steer clear from crypto corruption in the country. Because of this, governments of other countries have also become quite proactive in order to eliminate any sort of corruption to keep investors safe.

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