USD backed Stablecoins have overtaken the transaction volume of Bitcoin and Ethereum. Moreover, analysts are also witnessing a wind of change towards Central Bank Digital Currencies (CBDC). As FIAT money begins to compete with crypto directly, there is massive uncertainty on its effect on Bitcoin. The stablecoins are leaving begin crypto in trading volumes and
China has time and again revealed the progress of its Central Bank Digital Currency [CBDC], the digital yuan. Latest reports suggest that the CBDC is all set to test its real-world use cases. Food delivery giant Meituan Dianping is the latest platform to test the digital yuan. Food Delivery Giant Meituan Dianping Partners With PBoC The world
The realm of cryptocurrency is expanding with DeFi, but stablecoins (and digital FIAT) are starting to threaten the principles and on-boarding of cryptocurrencies altogether. Recently, USDC issuer CENTRE called on a blacklist function to restrict the account of activities of the associated Ethereum address. This goes against the principles of censorship resistance and cryptocurrencies altogether.
Faced with low use of hard cash and the threat of private firms issuing stablecoins to compete with legal tender, the Bank of Lithuania (BOL) will this month launch a central-bank backed digital currency (CBDC) collectible called the LBCOIN as per a Reuters report, July 2, 2020. Details Of LBCOIN To Be Issued by Lithuania 24,000 LBCOINs
South Koran central bank, Bank of Korea sets up a committee of six to probe the legalities pertaining to the launch of a potential CBDC. South Korean CBDC In The Works? Central Bank Digital Currency popularly known as CBDC has evidently become a new field of interest for many countries. While authorities have been dissing
The central bank of South Korea, Bank of Korea (BOK), has announced its mid-to-long-term development strategy titled, the BOK 2030, to “respond more quickly to digital changes and internal and external financial and economic environments.” Bank Of Korea Working On Plan 2030 The transformative plan highlights the goals and tasks of the central bank in the
Facebook revamps its model for Libra as it outlines new plans to offer digital versions of single FIAT currencies (or stablecoins). The team expects a launch in 2020 itself. ‘Congresswoman Rashida Tlaib and her counsel introduce an Automatic BOOST to Communities (ABC) Act Bill which proposes ‘digital dollar’ implementation. Libra 2.0 Facebook introduces Libra 2.0, a
Countries all over the world are looking into the launch of a Central Bank Digital Currency. Chia has been leading this movement. Or so we thought. While everyone’s eyes were focused on China. Sweden has been forging ahead. Sweden’s Riksbank has now come out to confirm that they are beginning the test of what is
The emErgence of new digital economic systems has pushed the Brazil Central Bank to launch a new immediate fee system, PIX. This launch comes in response to the growing demand for Bitcoin and other digital currencies. According to the bank president, Roberto Campos Neto, it is set to revolutionize how the country interacts with money.
What are Cryptocurrencies? Over the past couple of years, there has been a lot being said about “cryptocurrencies” and “blockchain” being a game-changer. But the majority of the common public today still has little to no knowledge about what these terms mean. According to Wikipedia, “A cryptocurrency is a digital asset designed to work as
Top Global Banks including BOE, BOJ, ECB and Swiss National Bank launch a commission to asses the potential use cases of a central bank digital currency. The Bank of International Settlement announced the formation of a new group to oversee a possible launch of a central bank digital currency (CBDC) in their respective jurisdictions. The