COVID-19 Is Accelerating Asia’s Digital Future Of CBDCs And Bitcoin
A future powered by digital assets is assured as governments around the world look to technology for economic progress.Whether or not you’d believe inflation could reach World War II levels, it’s clear that the global economy post-COVID-19 looks uncertain. A chasm is growing between the developed and developing markets fueled by uneven vaccination rates and Gross Domestic Product growth. Central Bank Digital Currencies (CBDCs) are set to be a key factor that’ll accelerate the world economy fit for the digital age, ushering in a digitally-connected economy unlike anything we’ve seen....
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Ethereum co-founder believes that CBDCs are good for macroeconomics, but there are also certain challenges. Central bank digital currencies, or CBDCs, will be fairly easy to convert into cryptocurrencies in the future, Ethereum co-founder Vitalik Buterin believes.Speaking at the Singapore Fintech Festival 2020 on Dec. 9, Buterin said that he expects a lot of ways to exchange CBDCs to cryptos like Bitcoin (BTC) as well as other digital tokens:“There’s a question of how these central bank [digital] currencies are going to interact with both crypto and digital currencies more generally.....
Will CBDCs disrupt stablecoins, or will they help each other? The public and private sectors should work closely together to bring about the future of money, according to a former leader of the Commodity Futures Trading Commission.Chris Giancarlo, a former CFTC chairman and initiator of a blockchain-based digital dollar project, joined the Singapore Fintech Festival 2020 to discuss the future of stablecoins and central bank digital currencies, or CBDCs.At a Tuesday panel called “Will CBDCs disrupt stablecoins?,” Giancarlo declared that the future of money depends on close government....
A reading of two recent op-eds on central bank digital currencies (CBDCs).
Lowering CO2 emissions and lessening carbon-intensive approaches are the essential goals in global efforts to fight climate change. It has been a blazing start to a new decade, with 13% more large, uncontrolled wildfires around the world this year compared with 2019. This has spelled dire consequences for CO2 levels, which have made worse a terrible COVID-19 pandemic that has led to unprecedented worldwide lockdowns that have rapidly pushed the economy toward digitization.Related: How has the COVID-19 pandemic affected the crypto space? Experts answer As a result of the COVID-19 pandemic,....
Cash usage has declined in Norway since COVID-19, but physical currency also carries strengths that CBDCs may lack. Speaking at an event on Thursday, Ida Wolden Bache, deputy governor at Norway's central bank, described a decline in cash payments while elaborating on Central Bank Digital Currencies, or CBDCs. "Only 4% of payments are now made using cash," Bache said in her speech during Finance Norway's Payments conference. "This share is approximately the same as in spring, and considerably lower than before the pandemic," she added. "To our knowledge, the share of cash payments is lower....