The Blockchain Should Not Just Be Used To Issue Digitized Fiat Currency
With so many countries around the world keeping a close eye on the evolution of consumer payments, drastic changes are bound to happen sooner or later. Norway is looking to get rid of cash payments altogether while the United Kingdom is being urged to embrace the blockchain and digital currency. But what would to happen if various countries around the world suddenly decided to create their own digital currency? A few days ago, BBC mentioned how a report by the UK’s chief scientific advisor urges the government to get involved in the future development of blockchain technology. Not to aid....
Related News
In what should be the first of many over the coming years, Ecuador will soon begin trials with the world's first national digital currency. They are the first nation to agree officially to implement it's own digital currency as a state-supported national system of finance. The Central Bank of Ecuador has set up a trial version to begin later this month, and continue through mid-November 15th. Also read: Ecuador's Centralized National Digital Currency. Ecuador Trials the World's First National Digital Currency. This is an evolving story CryptoCoinsNews has been watching for months, as....
eCurrency Mint (eCM), a Dublin-based company that has pioneered a new technology that enables central banks to issue digital fiat currency, has received an undisclosed amount of Series C funding from Omidyar Network, a global investment firm launched by eBay founder Pierre Omidyar. The investment helps sets the stage to establish digital fiat currency, which portends numerous benefits over physical currency for bankers, merchants and consumers. The Wall Street Journal also has an article noting that eCM has met with 30 central banks which are exploring digital currency backed by....
CNET founder and technology entrepreneur Halsey Minor has formally announced Bitreserve.org - a new low-cost bitcoin and fiat currency payments platform geared toward both consumers and merchants. Most notably, the service will allow fiat-to-fiat transfers at zero cost between Bitreserve members. This means that a customer could issue a payment to a merchant without having to pay transaction costs. Bitreserve charges a nominal fee for bitcoin transactions in order to pay miners. During a press conference, Minor remarked that one of the central problems with bitcoin is the issue of price....
Blockchain crowdfunding and finance platform Waves launched Wednesday following a $16 million ICO, the sixth-largest crowdfunded project in history. Fiat ‘Gateway’. The platform (wavesplatform.com), which also enables fiat institutions to issue their own tokens in lieu of fiat currency, announced the launch on its Twitter page late yesterday: Waves acts....
The South African Reserve Bank may be willing to introduce blockchain based, digital version of its fiat currency. The use of cryptocurrencies as legal tender is one of the most discussed topics among the cryptocurrency community members. The very thing may soon happen in South Africa. One of the South African financial magazines has recently reported about the willingness of the South African Reserve Bank to issue digital version of its fiat currency. The new currency referred to as the “national digital currency” is expected to be based on blockchain technology. The publication, in its....