The South Korean central bank is the latest in the list of national banks to reveal its intentions towards central bank crypto (CBDC). South Korea Joins Crypto Research Race According to local media, the Bank of Korea has begun hiring crypto-asset experts signaling that the central bank may begin developing its own CBDC. It added...Read More
China has been confronted with multiple economic and financial problems this year amidst an ongoing trade war with the United States. Authorities in Beijing have been trying to overcome the challenges with administrative measures in what has become a market economy over the years. And it’s backfiring. Inflation of the yuan just rose to its...Read More
Regardless of crypto market price action, some countries have had a better 2019 than others. India has been on the back foot for most of it as the central bank and regulators procrastinated with the new technology and stifled further innovation. Indian Crypto Industry Stunted Increasing hostility from central banks is to be expected. Decentralized...Read More
Digital currency provides unprecedented abilities to spy on and control what people do, and having that power in the hands of a few people is very dangerous. The Big Tech monopolies of Silicon Valley are building a future where your every action is monitored, and giving Facebook control over what you can and can’t do...Read More
A devoted team of the PBOC’s Digital Currency Research Lab is currently setting up its digital currency system in a restricted environment aiming to launch it before Facebook’s Libra enters the market. After Facebook unveiled the white paper for its Libra Project in June, the People’s Bank of China (PBoC) got working. The PBoC is...Read More
2019 has not been a bad year for crypto as some assets, including Bitcoin, have seen more than 100% in ROI. However, funding is significantly reduced and venture capitalists seem to be backing off. Why is this happening? The bear market which started in 2018 was a very disappointing period in crypto. This was made...Read More
Binance has come up with a detailed research report about the new People’s Bank of China (PBoC) Central Bank Digital Currency (CBDC). The research reveals that the new currency will be a two-tiered system and is aimed at replacing cash. Binance Research, which is the analysis and data research arm at Binance, recently came out...Read More
The motive behind the development of a central bank digital currency (CBDC) by the People’s Bank of China which is also known as the Central Bank of China, is currently under investigation by analysts from Binance Research. If the cryptocurrency is created, it will make China the first major country in the world to issue...Read More
China’s Government and Central Bank just can’t seem to align on the proposed central bank digital currency (CBDC). On Tuesday, government-supported tabloid, Global Times, reported that the Central Bank called speculation on an upcoming launch ‘inaccurate speculation’. Then yesterday, it published an article suggesting that plans are gaining momentum, with a pilot-scheme in Shenzhen imminent....Read More
Photo: Pixabay Last week we reported how China is preparing their own digital currency dubbed CBDC after five years they have been working on it. However, after the analysis of over 50 patent applications that were filed by the People’s Bank of China, it has become clear that the pattern of this digital currency will...Read More
The Takeaway: A review of over 50 patent applications submitted by the People’s Bank of China shows the design of its central bank digital currency will only resemble a cryptocurrency in limited ways. A senior official at the central bank said the effort will be helpful to “restrain public’s demands for crypto assets and to...Read More
