The Bank Of Japan announced on February 17, 2023 that it will launch a pilot program in April of this year to test its central bank digital currency (CBDC), also known as the digital yen.
“We plan to develop a system for experiments,” CoinDesk quoted Bank of Japan’s executive director as saying.
“The aim of the pilot program is two-fold: first, to test the technical feasibility...and second, to utilise the skills and insights of private businesses in terms of technology and operation for designing a CBDC ecosystem in the possible event of social implementation,” he said.
After two years of proof-of-concept experiments, Bank of Japan has moved to establish a digital yen, while Chinese digital yuan continues to dominate the CBDC race.
China’s CBDC has extended to over 105 countries that represents more than 95 per cent of the global GDP.
MAIF, Superchief Gallery Collaborates On Largest AI Art Exhibition
In collaboration with Superchief Gallery, MAIF’s forthcoming exhibition, DEEP FAKE, will explore how artificial intelligence (AI) can change the way art with images and sounds is made, manipulated, and interpreted.
The MAIF art collective, a group of 75 AI-assisted artists, will explore cultural symbols and mythology, manipulate ideas of time and history, and challenge the understanding of what is “real”, decrypt reported.
DEEP FAKE will feature 73 works by 62 AI-enabled artists, and will be the largest exhibition of AI art to date. It will be curated by artist and well-known AI collector ClownVamp.
Tickets for the event are currently free for the first 200 applicants, who will also get a limited-edition physical poster and corresponding NFT.
eBay Launches NFT Smart Contract For Creators, Designers
KnownOrigin, eBay’s non-fungible token (NFT) marketplace, will launch smart contracts for its creators.
In the new contract, artists will be able to split income from co-creation and receive royalties as a result. Consumers have been testing KnownOrigin’s Creator Contract beta release for several weeks, with 84 contracts installed and 250 editions of NFTs minted so far, decrypt reported. This testing was part of closed beta release.
“So far 84 contracts have been deployed, and 250 editions have been minted! Today, we are excited to announce our plans for public release!” KnownOrigin said in a release.
Designed on the Ethereum platform, the network aims at inspiring both creators and owners by offering them the opportunity to demonstrate their virtual assets, sell them, and then acquire them.
Crypto Was Singapore's Top Fintech Investment In 2022
Singapore’s top fintech investment area in 2022 was crypto or Blockchain, despite a global slowdown, according to KPMG’s Pulse of Fintech report. This is despite the finding that investors are shifting away from crypto-based solutions in 2022.
KPMG’s findings show a “particularly noticeable” decline in crypto investments, as investors digested “Terra, Three Arrows Capital, and FTX's declines,” the report said.
In Singapore, crypto-related funding fell by 21 per cent from $1.5 billion in 2021 to $1.2 billion in 2022. Globally, investments in the space fell from $30 billion in 2021 to $23.1 billion in 2022.
