It has been argued many times that for purposes of money laundering and conducting black market activities Bitcoin in fact does not even come close to its predecessor—hard cash. In fact, some go as far as to claim it is foolish to rely on Bitcoin for traditional illicit activities while cash still exists.
A lot is going on with the economy. The monetary authorities around the world leverage their powers to intervene by printing money and introducing unconditional payments for citizens, businesses change their model or struggle to keep afloat.
The Bank of France announced a CBDC experiment and is open to applications. The test is a part of the larger move towards introducing central bank digital money in the EU and is aimed to explore solutions for interbank settlement.
The Bank of England (BoE) has published a discussion paper, exploring the pros and cons of a potential issuance of CBDC pegged to the British pound. In the paper, BoE offers more pros than cons and pledges to hear out thoughts on the matter from the general public.
The beginning of 2020 had a lot for central bank digital currencies. China is seemingly ready to test its own digital cash system, while Western countries are getting on with their research and considerations about CBDCs.
For many crypto investors and rookie traders, 2019 was a year of much despair and uncertainty. The year started with a sharp drop in Bitcoin’s price, followed by a lengthy period of stagnation. The ICO fever, the once sacred cow of crypto, has all but died down. Several new blockchain projects popped up but ultimately […]
People around the crypto space like to talk about the old days. I mean, really old, when people were exchanging pretty shells instead of money. And look at us now: Bitcoins, wire transfers, futures contracts for stuff you’ll never get, and other sorts of financial speculation for rich and poor to enjoy.