Bitcoin was born at a time when the fragility of the world economy was severely exposed. The world’s most popular cryptocurrency has its own exponents as well as its own critics. While global Bitcoin proponents believe that the digital currency will deliver financial salvation, their critics, on the other hand, describe Bitcoin as an illusion; […]
European Central Bank
Digital Renminbi Coins, Digital Dollar and the Race to Central Bank Backed Stablecoins
Top global central banks are scrambling to launch their state-backed digital currencies. China set the pace with its digital renminbi coins with hopes of gaining a competitive advantage against the US in world trade. Besides central banks and tech companies joining the stable coins front, the International Monetary Fund (IMF) believes that cryptocurrencies backed by […]
China Pilot Testing its Digital Currency: Will the Digital Renminbi Challenge the US Dollar in the Currency Wars ?
The majority of Chinese intellectuals called out over-reliance on the United States Dollar and seemed worried about the safety of Beijing’s massive amount of US dollar reserves. These scholars suggested the diversification of China’s reserve and pressed the government to globalize the Chinese Renminbi. Against this backdrop to potentially unleash a currency war against the […]
European Nations Proposing Plans for Libra Competitor
The German Central Bank called out on banks across Europe to come up with a cheaper competitor for Facebook’s Libra Coin. Jens Weidmann who serves as an official of the European Central Bank and the President of the German Central Bank announced the suggestion earlier today. The financial expert who seems against the idea of […]
German banks begin introducing negative interest rates as holders contemplate turning to Bitcoin
Germany has been one of the few countries that have entertained blockchain technologies and cryptocurrencies, while other regions were still considering what to make of digital assets. The European nation may have inadvertently given Bitcoin and other cryptocurrencies a boost when the Volksbank Raiffeisenbank Fürstenfeldbruck (VRF) in Northern Bavaria revealed that they would be charging […]
Cryptocurrencies are shaking the System; first ECB President hints Bitcoin approach to bank
After joining European Central Bank (ECB) as its new president, Christine Lagarde has become the first woman to lead ECB. By being a new ECB boss, Lagarde hits a change in the banks’ viewpoint to the crypto industry. She might eventually urge adoption. New ECB Boss Speaks About Cryptocurrency Lagarde’s name counts among the minority […]
The European Central Bank hails Ripple’s importance as a cryptocurrency
Mass adoption The holy grail in cryptocurrencies (all of them, not just Ripple’s XRP) is mass adoption by the general public. That would be the ultimate silver bullet. It would increase demand for digital assets, trading volumes, liquidity, and above all, the price. A significant increase in liquidity and the market’s total capitalization would also […]