Indian Central Bank Introduces AI-Powered Payments System, Explores Crypto for Digital Signing, UK Seeks CBDC Advisory Group


Source: AdobeStock / Galyna Andrushko

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AI News

The Reserve Bank of India (RBI) has released a press statement that includes the idea of using Artificial Intelligence (AI) for conversational payments within the unified payment interface (UPI), an instant payment system developed by the country. “As AI is becoming more integrated into the digital economy, conversational instructions hold immense potential in improving the ease of use and reach of the UPI system,” the RBI said. “We are proposing to launch an innovative payment mode, ‘Conversational Payments’ on UPI, that will allow users to engage in a conversation with an AI-powered system to initiate and complete transactions securely. This channel will be available on both smartphones and feature phones-based UPI, helping to increase digital penetration in the country,” it added.

Adoption News

The Indian Ministry of Electronics and Information Technology (MeitY) is looking to offer users the option to sign documents using crypto tokens on a web browser. The Ministry has launched a new website, the Indian Web Browser Development Challenge, to “inspire and empower” developers from around the world to develop an in-house web browser with an integrated firewall Controller Certifying Authorities Root certificate (CCA). The proposed browser would also focus on accessibility and user-friendliness, ensuring built-in support for those with diverse abilities.


The Bank of England (BoE) and HM Treasury have created an Academic Advisory Group (AAG) to help develop a central bank digital currency. The AAG will bring together experts from different fields related to the digital pound, such as monetary policy, finance, competition economics, industrial organization, behavioral science, law, innovation theory, marketing, and business. The deadline for applications to AAG is September 3.

Regulation News

The Autorité des Marchés Financiers (AMF), France’s financial regulator, has changed its registration requirements to better align with the European Union’s recently finalized Markets in Crypto Assets (MiCA). The new requirements are mandatory for “new players” starting from January 1, 2024. The changes will allow a fast track procedure to be implemented for companies already authorized in the country.

Tax News

Crypto Tax Company Bitget has announced a strategic partnership with Coinpanda. By joining forces, Bitget is aiming to simplify the complicated crypto tax procedure, providing users with a seamless and comprehensive crypto tax solution. The platform will allow users of the exchange to handle their taxes efficiently, ensure compliance with regulation, and streamline their entire tax experience.

Blockchain News

Kashifu Inuwa Abdullahi, Director-General at the National Information Technology Development Agency (NITDA), has revealed that blockchain technology will be used for the generation and validation of the National Youth Service Corps (NYSC) certificate. The NYSC requires that university graduates aged under 30 complete a year of national service, including community development projects and intercultural integration.

Gaming News

Game developers Unity and Unreal Engine now have access to the Emergence SDK, a developer toolkit with 33,000 downloads. The software allows players to deploy or use interoperable avatars as well as wallets, player personas, and inventory. It also features native support for zkRollup Ethereum, a zkEVM based on Ethereum, enabling native compatibility with existing Ethereum applications and tools. Other updates include support for Base Layer2 blockchains backed by Coinbase, a ChatGPT plugin, and new faucets.

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