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Brian Brooks, the Acting Comptroller of the Currency and former head of Coinbase’s legal department, put forward blockchain as better than the United States’ current bank-dependent payments system.Decentralization for future paymentsOn July 29, Brooks spoke with Aaron Klein of the Brookings Institution, a major U.S. think tank. In answer to
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The Bank of Lithuania is Europe's first central bank to produce a digital currency issued in the Euro
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Each LBCOIN issued by the Lithuanian Central Bank features one of the signatories of the Act of Independence.The LBCOIN digital collector coin has been launched by the Lithuanian Central Bank. It was issued in honor of Lithuania’s independence Act of 1918 and its 20 signatories.Powered by the NEM blockchain, the
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Over the years, it has become a known fact for anyone dealing with cryptocurrencies that scams are running rampant. However, as more novice players enter the market, more scammers up their tactics to take advantage of unsuspecting Bitcoin enthusiasts with fake Bitcoin giveaways and other elaborate schemes. Recently, a new bout
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Banque de France has picked eight potential candidates to test the integration of a CBDC for interbank settlements, according to the announcement published earlier today.The list of approved participants includes mainstream juggernauts like Accenture, HSBC, and Societe Generale, as well as smaller crypto-focused players like Seba Bank and LiquidShare.The announcement
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A blockchain project from the Monetary Authority of Singapore (MAS) and state investor Temasek has completed its final development phase and is now being considered as the basis for commercial payments ventures. DisclosureThe leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides
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Central Bank Digital Currencies, or CBDCs, have been an increasingly popular topic in the cryptosphere and financial world as a whole, especially with the onset of the COVID-19 crisis. In the United States, the need for a universal electronic payment system for stimulus checks gave rise to a proposition for
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The rise in demand for digital payments during the COVID-19 pandemic further highlighted the importance of CBDCs and intensified the global race between central banks. The question is – which one will win?Central banks all over the world have been developing their own state-issued digital currencies. According to a recent
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Ray Dalio, the billionaire hedge fund manager and founder and chief investment officer of Bridgewater Associates, believes capital markets are no longer free.Speaking to Bloomberg, Dalio said markets have changed a lot so central banks like the Federal Reserve no longer act within the confines of the traditional economic system.“There
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With national banks around the world driving at the speed of light to develop Central Bank Digital Currencies (CBDC), and Facebook cryptocurrency
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