CBDCs are one of the hottest topics in the fintech space, but as their inception comes closer, serious privacy concerns come with it. Central Bank Digital Currencies, or CBDCs, have been an increasingly popular topic in the cryptosphere and financial world as a whole, especially with the onset of the COVID-19 crisis. In the United […]
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The coronavirus pandemic has forced governments worldwide to focus on bringing blockchain tech to their financial services. Famed currency speculator George Soros, who in 1992 broke the Bank of England to emerge a billionaire overnight by forcing the pound out of the European Exchange Rate Mechanism, believes: “We will not go back to where we […]
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Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets. In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, […]
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As Libra and COVID-19 give a push to CBDCs, some projects are looking to dethrone the main international currency. As central bank digital currencies continue to be researched and tested by countries across the globe, it becomes more apparent that the United States dollar’s reign might be challenged once the concept is implemented on a […]
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The Bank for International Settlements expects the COVID-19 crisis’ impact on retail payments to have a positive effect on central bank digital currency development. The Bank for International Settlements (BIS) expects the COVID-19 crisis’ impact on retail payments to have a knock-on effect on the development of central bank digital currencies (CBDC). The BIS is […]
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The leading global central bank institution has published new research on central bank digital currencies, noting a major shift in their direction thanks to Libra as well as COVID-19. In advance of its coming annual report, on June 24 the Bank for International Settlements released a special chapter from that report on digital payments — […]
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Crypto has turned from an inevitable future to our happening present, and stablecoins may become the industry’s cornerstone. Major financial institutions love certainty, and that will help the crypto community immensely. Let’s get down to basics: A stablecoin is a type of digital asset designed to solve the problem of the hypervolatility of cryptocurrencies. This […]
Continue ReadingA recent Andreessen Horowitz report says crypto is in its growth stage, but critics say the industry is yet to create end-use value. The crypto space is well over a decade old with more than 5,500 different cryptocurrencies and a market capitalization north of $250 billion. Researchers at American venture capital firm Andreessen Horowitz say […]
Continue ReadingA global think tank for central banking, OMFIF, has announced the launch of its Digital Money Institute, aimed at bridging the gap between digital currency and traditional banking. The Official Monetary and Financial Institutions Forum (OMFIF), an independent global think tank for central banking and economic policy, announced the launch of its Digital Monetary Institute […]
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Traditional finances could be dramatically changed in the near future, and central bank-issued digital currency is the first step. Once a niche enthusiasm with the launch of Bitcoin (BTC), digital money powered by blockchain technology has matured rapidly in just a few short years. The market is now highly diverse. For example, audited stablecoins, along […]
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