Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
CBDC
Central Banks Digital Currencies (CBDCs) – All You Need to Know
As the crypto market continues to reach new heights, it's more than just investors interested in the power of blockchain technology. Governments and critical financial institutions recognize the benefits of cryptocurrencies, such as higher efficiency and streamlined payments. As such, Central Bank digital currencies (CBDCs) have started to emerge across the globe. A recent survey revealed that around 10% of central banks are on the verge of issuing some form of centralized cryptocurrencies. Unlike cryptocurrencies designed to provide a reliable…
5 years ago
Six Central Banks Embark on Research Concerning CBDCs
A recent news release dated 21st of January has suggested that there is a formation of a new partnership between 6 banks, including the central bank platforms of England, Europe, Japan, Switzerland, and Sweden, together with the BIS. The designation of this new alliance is to explore the central bank's digital currencies. Researching in this context involves looking deep into the various applications, use cases, functions, technical and economical design, and interoperability across the border. After exploring the different countries…
5 years ago
The Digital Dollar: Why The Federal Reserve Should Issue Its CBDC
Several Central Banks are showing interest in exploring the likelihood of issuing their Central Bank Digital Currency (CBDC). China’s Central Bank seems close to launching its own known Digital Currency Electronic System. Central banks are seriously looking into digital currencies; however, some of these banks’ officials resist digital assets. Regardless, there is increasing cryptocurrency adoption, which is fueling the possible issue of CBDCs by Central Banks. The US Fed Exploring the Likelihood of Launching a CBDC Recently, James Powell of…
5 years ago
ECB’s Report On Its CBDC Development
In December 2017, the ECB released a new report, with the title “Exploring anonymity in central bank digital currencies.” This report provides detailed information about the way CBDC could function. The CBDC research has a motive for contributing to the broader discussion of central bank chains. The CBDC concept utilizes many features established by R3 and Accenture, and the network gets referred to as Eurochain. The Eurochain report’s content includes the hypothetical network’s benefits and the discussion on how anonymity…
5 years ago