Climate change caused by carbon emissions might be one reason for such a terrible global COVID-19 pandemic scenario. JPMorgan Chase, the first American bank to create and successfully test a digital coin representing a fiat currency, also provided the most fossil fuel financing out of any bank in the world, according to a 2019 report…
Read more
Cryptocurrency is an alternative to sovereign currencies that are issued by state governments, but national digital currencies are not so far away from being launched. Over 30 years ago, in a January 1988 cover story emblazoned with a phoenix hovering over a paper-money inferno, The Economist offered this semi-prophetic vision of currency: “Thirty years from…
Read more
A board of 22 finance and fintech experts joins former CFTC leaders and Accenture to steer the future of the Digital Dollar Project. The Digital Dollar Project, which advocates a blockchain-backed digital dollar in the United States, has announced the inaugural roster of its Advisory Board. The new advisors joining the founders of the project…
Read more
The Bank of China has completed the basic function development of a digital Yuan and it has moved one step closer to launch its CBDC during a middle of global recession. As central banks around the world are cutting interest rates to zero and taking aggressive action against the economic recession due to the coronavirus…
Read more
International Monetary Fund leader, Tao Zhang, discussed the positives and negatives of a central bank digital currency. In a recent keynote speech to the London School of Economics, International Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, briefed the positives and negatives of a central bank digital currency (CBDC). Zhang pointed toward greater efficiency and…
Read more
In an exclusive interview with CT, a senior member of the Japanese government discusses the urgent need to implement a digital yen. Even amid the financial turmoil caused by the coronavirus outbreak, countries are continuing to consider the adoption of a central bank digital currency (CBDC). In an exclusive interview with Cointelegraph Japan, Kozo Yamamoto,…
Read more
BitMEX Research suggests that the issuance of the CBDC will lead to inflation as cash will be banned. A March 18th post by BitMEX Research discusses the two approaches governments can take with regards to the issuance of a Central Bank Digital Currency (CBDC) and the ramifications for the economy. Money supply In the modern…
Read more
After some regulatory uncertainty, the U.S. has started its journey to the regulated space for blockchain and DLT industry. The United States’ concerns about the rise of cryptocurrency use in illegal activities have only been growing as developments in the space continue to push the envelope. There is a global race to launch stablecoins that…
Read more
Russia’s relationship with blockchain and cryptocurrency wasn’t clear, but the country is making steps toward digital economic development. The volume of cryptocurrency flows on darknet markets — which are involved in illegal drug and arms trafficking, remittance and transfer of illicit funds — have doubled for the first time in four years, a new report…
Read more
Central banks’ growing interest in DLT reveals concerns in the traditional financial sector as the gap between the two narrows Despite the interest shown in decentralized ledger technology by central banks, cryptocurrencies continue to be mistrusted by the traditional financial system. This has been made apparent from comments by Andrew Bailey, the upcoming governor of…
Read more
