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Zimbabwe introduces new digital currency backed by gold

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Date: April 23, 2023

Zimbabwe to create new digital currency backed by gold.
As part of efforts to stabilize the local currency, the Reserve Bank of Zimbabwe (RBZ) is preparing to launch a digital currency backed by gold that will be accepted as legal tender for transactions in the nation.
The RBZ will take the first steps toward using the nation's gold reserves to anchor the Zimbabwe dollar with the introduction of the digital gold tokens, a kind of electronic money backed by gold stored at the RBZ.

Quantum computing development

Researchers hope to create large-scale quantum computers within a decade.
Researchers at Japan Riken Center for Emergent Matter Science have achieved a major step forward in increasing the scalability of quantum computers.
Instead of simply incrementing the total qubits in a system, the researchers have demonstrated a triple-qubit, silicon-based quantum computing mechanism.
Another huge quantum computing breakthrough: New 100-qubit processor is built with atoms cooled down near to absolute zero.
By cooling atoms down to near absolute zero and then controlling them with lasers, a company has successfully created a 100-qubit quantum processor that compares to the systems developed by leading quantum players to date.
Sources: www.techradar.com, www.zdnet.com

Xi Jinping to Visit Saudi Arabia before the end of the year

China's Xi Jinping to Visit Saudi Arabia Amid Global Reshuffling.
Chinese leader Xi Jinping is planning to visit Saudi Arabia before the end of the year, according to people familiar with preparations for the trip, as Beijing and Riyadh seek to deepen ties and advance a vision of a multipolar world where the U.S. no longer dominates the global order.
Sources: wsj

China is emerging as IMF competitor

China gave tens of billions in secretive 'emergency loans' to vulnerable nations, emerging as world's major creditor and IMF competitor.
China has shelled out tens of billions in opaque 'emergency loans' for at-risk nations, indicating a shift to providing short-term emergency lending rather than longer-term infrastructure loans.
Source: fortune.com

IMF Debt forgiveness for 25 poorest countries

IMF Executive Board approved immediate debt service relief to 25 of the IMF's member countries under the IMF's revamped Catastrophe Containment and Relief Trust (CCRT) as part of the Fund's response to help address the impact of the COVID-19 pandemic.
Source:imf.org

Germany Basic Income of $1,400 every month experiment

As part of the study, 120 people will receive E1,200, or about $1,430, each month for three years - an amount just above Germany's poverty line - and researchers will compare their experiences with another group of 1,380 people who will not receive the payments.
Source:themindunleashed.com

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