Central Bank Coins Are the New Altcoins
Consider this: the efforts of central banks to create centralized digital currencies are no different to altcoins. The only difference is who is producing the coin and what funding the development team has. Some might even argue that altcoins have greater credibility, as they in most cases have public and not private blockchains. In an age where there is....
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Starting on July 25, the Zimbabwean public will be able to buy and hold gold coins which weigh one troy ounce each. In addition to their use as an alternative store of value, the central bank says the coins can be traded and used as “security for loans and credit facilities.” Coins to Be Sold at ‘Prevailing International Price of Gold’ Just a few weeks after revealing its plans to roll out gold coins, the Reserve Bank of Zimbabwe (RBZ) released a statement on July 4 advising “the public of the salient features and characteristics of the gold coin.”....
We've seen plenty of times central banks warn consumers of the risks of getting involved with digital currencies, but the Dutch Central Bank is taking a different approach. In astatement published on the central bank's website, De Nederlandsche Bank (DNB) is warning banks and payment institutions of the integrity risks that virtual currencies bear. The central bank points out that there exists a significant level of anonymity when it comes to digital currencies (like bitcoin, for example). The release (which is interestingly dated June 5, 2014) says (translated using Google): In....
As the European Union gets more serious about a digital euro, most central bank digital currencies intend to remove the anonymity of cash.
After seeing the country’s inflation rise to 191.6% in June, Zimbabwean monetary authorities said they have resolved to increase the benchmark interest rate to 200% per annum. In addition, the central bank said it will introduce gold coins which will act as an instrument that will “enable investors to store value.” Discouraging Speculative Borrowing Monetary authorities in hyperinflation-stricken Zimbabwe reportedly plan to hike the benchmark interest rate to 200% per annum, one of the highest in the world. According to an official quoted by Bloomberg, this plan is....
Convinced that cryptocurrencies are affecting the tasks performed by monetary authorities around the world, the Dutch central bank has urged for comprehensive international regulations. The call comes after research into the development of crypto assets and policy responses. ‘Proper Regulation Indispensable for Risky Cryptos,’ Dutch Central Bank Insists Bitcoin, tether, and other digital coins are affecting many of the tasks and objectives of central banks and supervisory authorities, according to Steven Maijoor and Olaf Sleijpen, members of the Executive Board of De Nederlandsche Bank....