How Will Credit Work in a Bitcoin Economy?
Most people in the Bitcoin community agree that the digital currency has the ability to render fractional reserve banking impossible, but not everyone agrees on whether or not this development would be a good thing. The skeptics worry that without fractional reserve banking, it will somehow be impossible for banks to make loans. Taking this ability from....
Related News
According to the Bank for International Settlements’ credit-to-GDP gap, China could be dangerously close to a banking crisis that could threaten the future growth of the entire economy. Is China’s Debt-driven Economy on an Unsustainable Path? The Bank for International Settlements (BIS), a widely-respected financial watchdog, has reported that China’s....
As nations go to war and the global economy suffers, our credit-based system will inevitably seek sound money alternatives.
The plans to add crypto to credit cards impressed the community. With such additions, users can access credit facilities in crypto for payments or other activities. A credit card is one of the fastest means of accessing money for payments. Many countries operate a cashless economy whereby debit and credit cards reign. But according to […]
What these credit ratings do is determine the cost at which governments and enterprises can issue debt. A lower rating will have an impact on the UK economy over the coming years. The Brexit has a lot of side effects that will affect the financial situation of both the EU and the UK. Moody’s one of the leading credit rating institutions in the world, lowered the UK’s sovereign credit rating. This “negative” outlook is not something most Britons were looking for, but they will have to face the consequences of their voting. Although not everyone pays much attention to credit ratings these....
The credit union industry is following the lead of hackers and thieves, according to Jeff Johnson, chief information officer at Illinois-based Baxter Credit Union (BCU). "This is going to sound strange," he said. "[But] criminals, no matter how much you hate them, are really smart people. They take the path of least resistance." In his mind, if it’s working for international payments on the black market, there has to be a way to leverage the technology for above-board use that is just as robust, anonymous and secure. It's one of the reasons BCU has joined 55 other....