The IMF’s managing director lays out four pillars for the future of digital money as it relates to artisans. The continuing transition to digital finance is likely to affect sectors across the board. Artisans, or skilled craftsmen and women, are no exception. According to Kristalina Georgieva, managing director for the International Monetary Fund, or IMF, […]
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A second Bretton Woods era will be even more centralized and even further from a true democracy. Barely 100 years ago at the start of the 20th century, people were able to exchange dollars for gold at their local bank. While gold was too hard to trade between people, banking institutions held gold and gave […]
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New and developing research from the International Monetary Fund suggests that central banks around the world need new legal definitions for tokenized currencies. On Friday, the International Monetary Fund published a new working paper on central bank digital currencies, or CBDCs, and their legal ramifications. In the paper, researchers including IMF legal counsel Wouter Bossu […]
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The pandemic-induced crisis is galvanizing new trends across all aspects of the global economy, including digital currencies. The COVID-19 pandemic has served both as an x-ray onto existing vulnerabilities in the global financial system, and as an accelerator for destabilizing tendencies, including higher sovereign and consumer debt in emerging markets. At an online meeting of […]
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Former IMF Chief and President of the European Central Bank solicited input on possible CBDC In a Twitter thread on Sunday, Christine Lagarde, former Managing Director of the IMF and current President of the European Central Bank, invited public commentary on a potential eurozone central bank digital currency (CBDC). “We are still in the review […]
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Stablecoins are taking over the crypto space with increased utility and circulation. What is prompting this growth, and is it a threat to the market? Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments […]
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The ECB should grant e-money issuers access to central bank reserves, says Monerium. Consensys-backed e-money issuer Monerium thinks the route to a digital euro is simpler than the European Central Bank suggests. The fintech, which focuses on bridging fiat money with blockchains by issuing programmable digital cash, published a response to the ECB’s recent public […]
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Stone Ridge follows MicroStrategy in going big on BTC as a report puts the indirect cost of Coronavirus at $16 trillion. Bitcoin (BTC) is winning the battle of the safe havens as another corporate buy-in sees $115 million enter its books. Asset management giant Stone Ridge confirmed that it made the significant purchase via its […]
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“The temptation to print money is the greatest temptation in the whole world.” If you’ve ventured on to Crypto Twitter this year, you may have seen a tweet from the meme account WTF Happened in 1971? Created in March, the account posts numerous times a week to its fast growing fanbase of 10,500 followers. A […]
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China might lead the charge into the digital economy, but will being the first major economy to launch a CBDC be enough to win global reserve currency status? China’s Digital Currency Electronic Payment system is at the forefront of news around central bank digital currencies, or CBDCs. As China will be the first nation to […]
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