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  • Central bank digital currencies have the power to upend global finance

    Central bank digital currencies have the power to upend global finance

    News
    An astonishing 80% of central banks are engaging in work around central bank digital currencies, from research to experimentation and pilot programs. A recent Bank for International Settlements, or BIS, chart demonstrates the growing interest in CBDCs by central banks, as reflected in speeches and reports as well as people’s Google search interests over time. One country, in particular, to watch in this respect is China, which is emerging as one of the leaders in the…
  • Don't expect another 2017-style altseason as Ethereum continues slump vs. Bitcoin

    Don’t expect another 2017-style altseason as Ethereum continues slump vs. Bitcoin

    News
    While Bitcoin (BTC) is showing strength through new higher highs and making a new yearly high, Ethereum's Ether (ETH) shows weakness, particularly the ETH/BTC pair. ETH weakness is also a clear indication that most altcoins are not showing strength either since they tend to reflect Ether's performance.  The 0.03 sats level is a crucial barrier to hold ETH/BTC 1-day chart. Source: TradingViewThe daily chart of ETH/BTC shows a clear rejection at the 0.0325 sats level, through…
  • Seven firms in Japan deploy blockchain to digitize trade paperwork

    Seven firms in Japan deploy blockchain to digitize trade paperwork

    News
    According to an Oct. 26 report by Japanese news agency The Nikkei, seven Japanese companies are preparing to invest in a new trade data management system. Reportedly developed by NTT Data, the platform uses blockchain technology to prevent malicious third-parties from tampering with recorded data. The platform is designed to manage receipts for exporting and importing companies and will also manage letters of credit issued by banks. The new service will also help to process other…
  • Bahamas strikes first with Sand Dollar amid US–China CBDC faceoff

    Bahamas strikes first with Sand Dollar amid US–China CBDC faceoff

    News
    The Bahamas, an island nation in the West Indies, made digital currency history on Oct. 20 with the official launch of a new central bank digital currency, the so-called Sand Dollar. It became the first country to roll out a CBDC available to all residents, and while the Bahamas is a small nation — with only 393,000 people — it appears to be an event of some global financial significance. Or is it? “It could be…
  • Market is proving Bitcoin is ‘ultimate safe haven’ — Anthony Pompliano

    Market is proving Bitcoin is ‘ultimate safe haven’ — Anthony Pompliano

    News
    Bitcoin (BTC) “could not be more uncorrelated” with the stock market, Anthony Pompliano says as data shows that BTC is leaving macro assets behind. In a series of tweets on Oct. 26, the Morgan Creek Digital co-founder, also known as “Pomp,” took critics to task over their accusations that Bitcoin was a poor store of value. Pomp on safe haven Bitcoin: “The market is proving it” Pompliano uploaded a chart from behavior analysis platform Santiment, which…
  • Blockchain company aims to help small firms flourish

    Blockchain company aims to help small firms flourish

    News
    A fintech company says it is determined to offer decentralized finance services that are “regulated, responsible, trustworthy and innovative.” Nexxo’s focus is to offer commercial banking services and to support under-serviced small businesses that are not big enough to secure finance from traditional banks. Research cited by the company also suggests that more than 260 million small businesses are struggling to access commercial banking services and financial support that can help their ventures flourish and grow.…
  • Kenya's central bank exploring CBDCs due to 'mushrooming' of private cryptos

    Kenya’s central bank exploring CBDCs due to ‘mushrooming’ of private cryptos

    News
    The Central Bank of Kenya, or CBK, has reportedly started discussions with international central banks to explore the possibility of entering the central bank digital currency space. CBK governor Dr. Patrick Njoroge told reporters during Georgetown's DC Fintech week that: "“We [the CBK] are already having discussions with other global players, in various ways, around the introduction of Central Bank Digital Currencies. The push comes as a result of mushrooming of private cryptocurrencies and we are…
  • Toyota’s IT arm works on digital token pilot with crypto exchange

    Toyota’s IT arm works on digital token pilot with crypto exchange

    News
    Toyota Systems, the IT arm of Toyota Motor Corporation, is collaborating with Japanese cryptocurrency exchange DeCurret to develop a branded Toyota digital currency, according to an official announcement on Oct. 26. The large-scale pilot will involve 2,500 employees at Toyota Systems. The platform will feature digital currency payments for benefits. According to the announcement, participating employees will be able to exchange the digital currency for benefits points or gifts from a catalog. Toyota Systems noted that…
  • CertiK releases blockchain with real-time smart contract auditing

    CertiK releases blockchain with real-time smart contract auditing

    News
    CertiK, a software security company active in the blockchain sector, announced the mainnet release of its own custom blockchain, the CertiK Chain. The new blockchain places a heavy focus on security, turning the previously static process of analyzing smart contracts into a real-time safeguarding system. Professor Ronghui Gu, the CEO of CertiK, said, “Gone are the days of reliance on off-chain security analysis, static security audit reports, and unnecessary loss of time and money.” The CertiK…
  • Digital yuan will work with WeChat and Alipay, says bank exec

    Digital yuan will work with WeChat and Alipay, says bank exec

    News
    The forthcoming digital yuan will reportedly be compatible with major payment networks within the country.  Mu Changchun, the head of the People's Bank of China's digital currency research institute, said that the central bank-backed digital yuan will be compatible with major mobile payment wallets like WeChat Pay and Alipay. According to a report from South China Morning Post, Mu said during a conference that the digital yuan will not compete with WeChat Pay and Alipay: “They…