I'll update this page with latest digital currency information:
Watch out Bitcoin fans – US Fed considers creating US’s own digital currency
The whipsawing price of Bitcoin has turned the market into paradise for professional traders – but a potential nightmare for the amateurs who previously dominated the space. For the rational mind, trying to take on the balance sheets and focus of Wall Street Pros is tough enough – now comes news that the US Federal Reserve expects introducing its own Bitcoin-alternative by 2023. Click here to watch chairman Jay Powell’s five minute video on the topic, which was released last night. Alarm bells are ringing louder than ever. – Alec Hogg
By Craig Torres
(Bloomberg) – Federal Reserve Chair Jerome Powell turned up the volume in the U.S. digital dollar debate, announcing the central bank will publish a research paper and seek public comment as it weighs issuing one in the future.
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I listened today to zoom meeting to lawyers discussing about cryptocurrencies:
Top 3 Wholesale CBDC countries are:
Hong Kong, Thailand, China, UAE, Singapore
Retail: Bahamas, China, Cambodia
Lawyers need to know knowledge of basic programming and coding.
Crypto lending platforms 10%
Future of money: Coinstats? Henri Arslanian
check out Youtube page and get google alerts on bitcoin
Crypto
Fintech
blockchain
digital economy
double spend is problem
started in 208
Smart contracts: program it, so that you get paid automatically. It's decentralized way of smart payment.
Crypto highly volatile
China says no to Crypto and bitcoin
There are many types of cryptocurrencies:
Bitcoin is traceable and not used by criminals, and those who use are caught, it's 0.34%
CBTC cash will disappear
policy makers know about black economies like cash
Economist used the term block chain in 2015
bitcoin is decentralized.
Central Bank doesn't like but wants to leverage it:
1. cash
2. reserves
3. digital banknotes coming implications =>
4. low interest rate
CBTC - to help kickstart economy (make it to expire) hmmmmm.....
Future of money by China, it's ahead by 6 years, set in 2014 and England started in 2020.
Cash banned in China
Cashless -Central Bank in control....
Digital # banks use - CBTC - US not in top 10
Stable coins coming up - for cross border money transfers payments in 90billion
BM - Libra by FB moving from Geneva to US
