The centralized app reached 10 million verified accounts, but critics contend it doesn’t benefit users.
Digital Currency News
For two decades, the digital currency paradigm was a largely fringe concept championed by cryptography advocates before the launch of the cryptocurrency Bitcoin (BTC) in 2008, which heralded a new technological and social phenomenon.
While the goal of cryptocurrencies is to provide a medium for global, peer-to-peer transaction settlement that preserves privacy and financial security, digital currencies more broadly encompass any digital form of money, including the more recent trend of central bank digital currencies, or CBDCs.
Currently in development in China and other countries, these digital currencies may leverage blockchain technology for secure payments but with added capital controls and surveillance practices in stark contrast with the ethos of cryptocurrencies.
The future of digital currencies is uncertain. Will CBDCs become the dominant form of digital cash adopted by the masses, or will people opt into a more open, secure, permissionless financial system in the form of Bitcoin and the crypto economy?
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The Deutsche Bundesbank is the fourth central monetary authority to conduct research in conjunction with MIT’s Digital Currency Initiative.
682Andrew Bayly, the minister of commerce and consumer affairs, warned that New Zealand’s “wait and see” approach could lead to missing out on the benefits of development in the digital asset industry.
3605Combining technology, on-chain data and monetary theory can stabilize digital currencies and democratize access to advanced trading strategies.
514588The MicroStrategy chairman argued that the U.S., Europe and China would be much more likely to embrace Bitcoin if it were seen as digital property, not a medium of exchange.
5559Torrevieja, a tourist hub in the Alicante province of Spain, will allow stores to accept payments in crypto, paving the way for greater adoption.
6897Uptake in rural and urban areas with little or no internet connectivity could be boosted by introducing offline solutions.
3089In response to a consultation paper on a U.K. CBDC, the bank and HM Treasury said they had not decided to launch a digital pound but intended to “protect access to cash.”
7451After enduring a lengthy winter, the crypto industry shows signs of recovery, fueled by increasing institutional interest and Bitcoin's widening popularity.
9140BlackRock CEO Larry Fink suggests that Bitcoin may not become the go-to currency for everyday spending and asserts that he hasn’t contemplated the potential price trajectory of Bitcoin.
14898Accounts differ about an unpublished government report on a plan to use digital baht to stimulate the economy.
2823The CBDC-like bakong provides digital payment services in riel and the U.S. dollar. It has been steadily extending its regional scope.
7194The report from the International Organization of Securities Commissions provides a thorough explanation of regulatory expectations.
7747The Monetary Authority of Singapore has unveiled its plan to launch a live wholesale CBDC used for settlements by local banks.
4125European Union lawmakers anticipate the arrival of the digital euro, but German politician Joana Cotar is pushing back against the currency and fighting in favor of Bitcoin.
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