On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
The potential national digital currency in Kazakhstan is not intended to replace either cash or cashless payments, the central bank stressed.
Kazakhstan’s central bank is planning to examine the potential benefits and risks of adopting a state-backed digital currency.
The National Bank of Kazakhstan, or NBRK, published Wednesday a report on a digital tenge pilot project and opened a public consultation on the potential central bank digital currency, or CBDC.
According to the report, the digital tenge would be a new form of money issued by the NBRK to enable the “further development of the national payment system and reduce reliance on cash settlement using unique technical features.” The bank emphasized that the CBDC is not intended to replace either cash or cashless payments, but would rather be an alternative used in parallel with existing payment solutions.
The NBRK noted that the digital tenge would improve competitiveness in the payment market, strengthen the stability of the financial system, as well as contribute to increasing public trust in state-backed payments. “The technology will meet the highest cybersecurity standards. [...] The bank will pay special attention to consumer protection and the privacy of digital tenge users,” the NBRK stated.
The bank will first conduct a comprehensive study of benefits and risks related to a potential CBDC. In collaboration with financial market players and global partners, the NBRK also plans to define the digital tenge's objectives, issuance and distribution methods, the applied technology, and the potential impact on monetary policy, financial stability and the payment ecosystem.
As previously reported, Kazakhstan authorities initially announced that the government started considering a national digital currency in July 2020 alongside plans to increase investment in cryptocurrency mining. Local officials subsequently pointed out the digital tenge’s potential to become a crucial tool in fighting corruption in Kazakhstan.
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