Tag: CBDC

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When cash dies, your privacy will die

Last week I read a tweet that Israel was going to ban cash payments. Israel introduced a law banning the use of cash for large transactions. The new law limits cash payments in one business transaction to 6,000 shekels ($1,785), as the country wants to fight organized crime, money laundering, and tax evasion. It also…
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22 August 2022 0

Crypto assets are worth nothing… and then she woke up

It looks like Christine Lagarde, the President of the European Central Bank, has lost her sleep and is having nightmares over crypto. On a recent episode of the Dutch television show “College Tour,” when speaking about cryptocurrencies Lagarde said that “my very humble assessment is that it’s worth nothing”, and continued “it’s based on nothing,…
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30 May 2022 0

Part 4 How many poles in a multipolar world? 

I think there will be two poles in a multipolar world based on two spheres of influence – the Chinese and American spheres. That is putting it in old fashioned nationalist terms. Another way it is being framed by America is freedom/democracy vs autocracy. China will frame it differently as wealth distribution vs wealth inequality.…
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19 April 2022 0

Part 3 A multipolar global reserve currency future? 

No single contender looks like an obvious fit: USA/USD is current reserve currency but no reserve currency lasts forever. Europe/EU is a weird mix of independent countries and a single currency. China/CNY is the emerging economic power but their currency is not fully convertible yet and not trusted in many parts of the world. This…
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12 April 2022 0

Part 2 what happens in El Salvador does not stay in El Salvador.

  I believe that the future of Bitcoin will be written in El Salvador. That is why we have dedicated a 4-parter to Bitcoin in El Salvador in the past. If Bitcoin is a success for El Salvador’s people, many other countries will follow their lead. The stakes are now very high with Bitcoin becoming a…
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5 April 2022 0

Part 1 Global reserve currency fundamentals

Way back in 2014 (when Daily Fintech was born, Bitcoin was in a bear market (priced around $500) and the last time Putin ordered an invasion of Ukraine) I wrote My explorations down the Bitcoin rabbit hole. Although this is old analysis it is still relevant today and other people who are on the same…
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29 March 2022 0

China’s digital yuan could be a fatal blow for Macau casino junkets

Beijing’s bid to better control money laundering and illicit transactions through a fully traceable central bank digital currency could pose a threat to the country’s popular gambling hub Macau.  A hotspot for tourists — of which 70% come from mainland China — the region’s gambling business could reportedly be adversely impacted by China’s use of a…
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22 April 2021 0

Bahamas ranked first for retail CBDC development, according to PwC

A new ranking of global central bank digital currencies, or CBDCs, places the Bahamas at the top of the leaderboard in terms of retail applications – offering an important glimpse in the race to issue government-backed cryptocurrencies. In its 2021 CBDC Index, global consulting firm PwC surveyed the level of central-bank maturity in deploying cryptocurrencies…
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19 April 2021 0

China aims to let foreigners use digital yuan at Winter Olympics in 2022

China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official. Li Bo, deputy governor of the People’s Bank of China, said that the upcoming Winter Olympics could potentially become the first test of China’s…
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19 April 2021 0

UK government establishes central bank digital currency task force

Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency. In a document published by HM Treasury, the exchequer announced the creation of a CBDC taskforce in collaboration with the U.K.’s central bank. Jon Cunliffe, deputy governor of…
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19 April 2021 0