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South Korea Establishes Panel for CBDC Review

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South Korea’s central bank plans to conduct an in-depth review of the modalities required for issuing a central bank digital currency (CBDC).

The news is the latest example of the country’s focus on digital innovation amid the backdrop of China’s advancement in the CBDC sphere. Beijing’s accelerated development of its digital currency electronic payment (DC/EP) project appears to be putting its Asia Pacific neighbors on notice.

South Korea’s CBDC Plans

According to the Korea Times, the country’s central bank has announced the creation of a panel tasked with examining important issues surrounding the possible issuance of a ‘digital won.’ The newly created panel is reportedly the first in a series of steps aimed at laying the groundwork for South Korea’s CBDC.

The six-person panel inaugurated on Monday draws from participants in industries like finance, IT, commercial law, fintech, and a legal policy officer from the Bank of Korea (BOK). According to the BOK’s statement, the panel will conclude its assignment at the end of May 2021.

Seoul

Commenting on the inauguration of the six-person panel, a spokesperson for the BOK remarked:

We established the advisory group to discuss legal issues surrounding a CBDC and figure out which laws need to be revised or enacted for smooth progress in the BOK’s possible issuance of digital currency.

As previously reported by BeInCrypto, the BOK recently announced a 10-year blockchain and CBDC strategy. South Korea’s central bank plans to deliver a working digital won within the next 22 months with a pilot test scheduled for some time in 2021.

Global CBDC Race Continues

The BOK’s announcement puts South Korea firmly in the mix of the developing global CBDC narrative. Back in May, the government announced a $400M R&D fund for blockchain projects.

More than a dozen countries are actively developing sovereign digital currencies with China being the clear leader. China’s DC/EP is already undergoing various pilot tests in different cities with major fast-food franchises like McDonald’s and Starbuck also participating. Reports coming out of China say there is no official timetable for the launch of its CBDC.

In Europe, a ‘digital euro’ is still only in the discussion stage, France has run tests on prototype CBDCs for clearing tokenized financial assets. Meanwhile, authorities in the U.S. say the country does not need a CBDC given the strength of the USD. However, the Federal Reserve is exploring theoretical implementations of the digital dollar which has gained more credence amid the ongoing COVID-19 pandemic.


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As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.
This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions. The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.

Source: https://beincrypto.com/south-korea-establishes-panel-for-cbdc-review/

Esports

blocker steps down from FATE

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Due to lack of motivation and a need for something fresh, Yanko “⁠blocker⁠” Panov decided to bench himself from FATE, the Bulgairan side that peaked at #35 in the rankings during the summer of this year.

The news comes shortly after FATE was eliminated from the IEM Beijing-Haidian Europe closed qualifier, suffering one-sided defeats to both Spirit and Endpoint.

blocker is on the bench of FATE

“I’m not done, I just need a little break before I come back hungrier than ever”, blocker wrote in his Twitlonger, where he also thanked FATE for the professionalism they showed. “I have no bad feeling for anyone and I wish them nothing but the best when they find their new player”, the 23-year old added, while the organization didn’t reveal what their plans are going forward, only posting that updates are to follow.

Currently ranked 48th in the world, FATE don’t have any matches lined up, but having finished 14th in ESEA MDL Season 35, they will have to fight for their spot in the upcoming season through the Relegation tournament.

FATE are now:

Bulgaria Nikolay “⁠niki1⁠” Pantaleev
Bulgaria Martin “⁠mar⁠” Kuyumdjiev
Bulgaria Ivan “⁠Patrick⁠” Ivanov
Bulgaria Deyvid “⁠h4rn⁠” Benchev

Serbia Darko “⁠soLo⁠” Mitić (coach)

Bulgaria Yanko “⁠blocker⁠” Panov (benched)

Source: https://www.hltv.org/news/30561/blocker-steps-down-from-fate

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Energy

Energy Inspectors Corporation Receives U.S. Environmental Protection Agency National WaterSense Provider of the Year Award For 2020

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LAS VEGAS, Oct. 31, 2020 /PRNewswire/ — Energy Inspectors Corporation announced that it has been awarded its 6th National Environmental Agency (EPA) WaterSense Award for its continued efforts in water management and conservation, saving millions of gallons of water though its work with leading homebuilders in the Western United States.

Earning the WaterSense label makes easy to find water-efficient products, new homes, and programs that meet the EPA’s criteria for efficiency and performance.  WaterSense labeled products and services are certified by WaterSense Providers, such as Energy Inspectors Corporation, to use at least 20 percent less water, save energy, and perform as well as or better than ordinary models.

In 2020, Energy Inspectors Corporation won the Award for Excellence in Builder Support, making it possible for WaterSense builder partners to earn the WaterSense label for homes in Arizona, Nevada and California. To help home builders meet WaterSense criteria, Energy Inspectors provides analyses showing what they might need to change to meet the WaterSense specification for homes.

In 2019, Energy Inspectors also supported first-time Partner of the Year Award winner Fulton Homes by certifying the builder’s first WaterSense labeled home. And recently, a partnership with KB HOME led to the first ever WaterSense 2.0 labeled home in Henderson, NV.

“Without forward looking homebuilders such as Fulton Homes and KB HOME, who work diligently to improve our environment, our work would not be possible.  We are very honored to have the Environmental Protection Agency recognize our efforts in helping our nation, and homeowners save critical water and energy resources”, said Galo LeBron, CEO of Energy Inspectors Corporation.

About Energy Inspectors Corporation  
Energy Inspectors Corporation has been a pioneer in Residential Energy Efficiency, Sustainability and Green Building since 1997.  The company is one of the leading residential and commercial sustainability rating companies in America involved in all aspects of residential and commercial energy efficiency, water efficiency and indoor air quality, and a leader in Construction Quality Assurance, certifying tens of thousands of homes annually as energy efficient and sustainable. Energy Inspectors operates throughout the western United States, and is headquartered in Las Vegas, NV. For more information, please visit https://www.eicompanies.com.

About WaterSense
WaterSense is an EPA sponsored voluntary water savings program introduced by the EPA in 2006 to help new home builders make their homes more water efficient, reducing water consumption, energy consumption, and water bills for new homeowners. For more information about WaterSense visit https://www.epa.gov/watersense.

Media Contact: Lisa Lau, 760-593-8998, [email protected]

SOURCE Energy Inspectors Corporation

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https://www.eicompanies.com

Source: https://www.prnewswire.com:443/news-releases/energy-inspectors-corporation-receives-us-environmental-protection-agency-national-watersense-provider-of-the-year-award-for-2020-301164310.html

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Blockchain News

Chinese President Xi Jinping: Participate in Making Digital Currency and Digital Tax’s International Rule Actively

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Updated 31 October 2020 12:06 pm UTC

China’s President Xi Jinping will publish an article on November 1 outlining the President’s strategy for China’s growth through the COVID-19 pandemic and highlights fostering a digital economy and digital currency.

China’s General Secretary of the CPC Central Committee, President, and Chairman of the Central Military Commission Xi Jinping will publish an article entitled “Several Major Issues in the National Medium and Long-term Economic and Social Development Strategy“ on November 1 on Qiushi (Seeking Truth) Journal, a CPC central committee political theory periodical.

The article emphasizes that the world today is undergoing major changes unseen for a century. The coronavirus pandemic is not only a crisis but also a big test. In the article President Xi says now we must draw inferences from one another, carry out more long-term thinking, improve the strategic layout, and achieve high-quality development by turning crises into opportunities.

The article has 6 main points:

First, firmly implement the strategy of expanding domestic demand.

Second, optimize and stabilize the industrial chain and supply chain.

Third, improve the urbanization strategy.

Fourth, adjust and optimize the structure of scientific and technological input and output.

Fifth, to realize the harmonious coexistence of man and nature.

Sixth, strengthen the construction of the public health system.

On the second point about the industrial chain and supply chain. President Xi talks about the digital economy. He said:

“Our country’s online economy has led the world and played an active role in the prevention and control of this epidemic. Online office, online shopping, online education, and online medical services have flourished and are deeply integrated with the offline economy. We must take advantage of the trend to accelerate the construction of digital economy, digital society, and digital government, promote digital optimization and upgrading in various fields, and actively participate in the formulation of international rules including digital currency and digital tax to create new competitive advantages.”

President Xi’s statements further reflect his highlights on the digital economy and blockchain. On 2019 Oct 24, he delivered a speech on the development of blockchain technology, saying that “we need to take blockchain as an important breakthrough for independent innovation of core technology”. Blockchain as the infrastructure of digital currency, with the great potential in reshaping the monetary and financial system and almost all other industries, is one of the core technologies that major countries compete in. 

Image source: Shutterstock Source: https://Blockchain.News/news/chinese-president-xi-jinping-actively-participate-in-international-rule-formulation-of-digital-currency-and-digital-tax

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