Central Banks

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…

A Brazilian bank, known as Banco Bradescohas, recently rejected an agreement hindering the closure of crypto exchanges accounts. Banco Bradescohas’s recent act could mean it is completely cutting ties with the cryptocurrency exchanges. The fact that Banco Bradescohas is a renowned bank in Brazil may negatively affect the country’s cryptocurrency domain after the bank shunned the agreement. In December 2019, the Administrative Council of Economic Defense of Brazil clarified that withdrawal of bank services offered to crypto exchanges is not…

There is undoubtedly a lot of noise in the cryptocurrency space, and not all of it constructive. Narratives projecting Bitcoin as a global panacea; the “decentralize everything” movement; or the infinitely faster, more scalable, and secure blockchain…the list goes on. Separating true from false is an incessant task, and one that this article intends to do for another of these claims: cryptocurrencies are ready to replace central banks (CB).  To begin, let us take a step back and understand what…