Under the fear of potentially losing monetary control, several central banks are focusing on developing and issuing a cryptocurrency. Indeed, according to an IBM-commissioned report, a central bank digital currency (CBDC) could be ready for consumers’ use within the next 5 years. IBM Sees Serious Future For CBDC’s The OMFIF-IBM report entitled “Retail CBDs: The Read more…
Whether the dollar likes it or not, the digital yuan is coming. China has staked its claim for a digital version of its fiat currency, and by the looks of things, the ambition is truly global. The
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Yesterday, Bitcoin (BTC) plunged by $300 in literal minutes, falling to as low as $9,200 after consolidating in and around $9,500. There were many saying that this flash crash-esque move validated their bearish analyses, which implied that BTC would return to the $8,000s in the coming days. However, true to the volatile nature of the Read more…
Notwithstanding the Friday dump which has just sent bitcoin price back below $8k, the global economy is in a bigger mess and is set to deteriorate even further. Central banks are pumping cash back into their systems, interest rates are going negative, and GDP figures are falling. Is BTC still a safe haven in times Read more…
BIS & SNB Working On Crypto Announced in a document published Tuesday, the Swiss National Bank and the Bank for International Settlements, the so-called “Bank for Banks”, are looking to begin work on a blockchain-based crypto asset. The document stated: “[It] will examine the integration of digital central bank money into a distributed ledger technology Read more…
ECB President Not Too Worried About Crypto… Yet Earlier this year, Facebook famously unveiled Libra to the world. The cryptocurrency project, billed as a way to empower billions, quickly became the talk of the town, with the phrases “Libra” and “Facebook’s crypto/blockchain” gracing the notifications of the phones of millions. Unsurprisingly, central banks, governments, and Read more…
Since we’re living in a digital age, isn’t it about time we moved away from physical assets? And if we do, how much bitcoin would countries need to replace gold? How Much Bitcoin Would Countries Need to Replace Gold? We spend most of our lives online. We run businesses, organize events, and even get our Read more…
The bitcoin safe haven debate has been raging recently as global recession fears mount. Central banks and governments are actively putting the brakes on their economies in order to protect themselves, but this does no favors for the masses and their paper money. A generational paradigm shift on this disruptive technology could be the best Read more…
Two years ago, on September 4, 2017, the People’s Bank of China (PBOC) shut down local cryptocurrency exchanges over concerns that unregulated assets like bitcoin allow residents to bypass strict capital controls. Not-So-Happy Anniversary Despite the formal ban, Chinese traders have continued to explore methods to trade bitcoin and similar cryptocurrencies, often by using Read more…
When the fat-cats at Deutsche Bank instructed their social media interns to draft a tweet commemorating National Dollar Day, they probably didn’t realize that they’d accidentally end up shilling Bitcoin to their more than 650,000 followers. But while the Bitcoin isn’t directly mentioned, it’s difficult to imagine anyone writing a better advertisement for the leading Read more…