Thursday, July 29

Central Bank Digital Currency

Bitcoin, Blockchain, Central Bank Digital Currency, cryptocurrency, digital yuan, Ethereum, Markets, Mining, Stablecoins, Tether, Weekend BI UK

Cryptocurrencies, stablecoins and central-bank digital currencies are all the rage. We break down what they are and what you need to know about them

A bitcoin artwork by Stacey Coon, Anastasia Sultzer, and Nanu Berk at the Bitcoin 2021 convention. Marco Bello/Getty Images Cryptocurrencies and stablecoins have boomed in 2021, sucking in investors. The world's central banks are increasingly looking to create their own digital currencies. Insider cuts out the jargon and explains the key differences and what they're used for. See more stories on Insider's business page. Cryptocurrencies and stablecoins have boomed in 2021. And central banks around the world are increasingly keen on their own digital currencies. But how do they all work and what are they used for?CryptocurrenciesCryptocurrencies are basically digital currencies that aren't controlled or issued by a centralized authority, such as commercial or central banks.These...
Bank of International Settlements, Bitcoin, bitcoin investing, bitcoin price, BTC price, CBDC, Central Bank Digital Currency, Central Banks, cryptocurrency, crytocurrencies, El Salvador bitcoin, Federal Reserve, Fiat Currency, Fintech, Markets, MI Exclusive, US Dollar

More than half of experts in a recent crypto survey said bitcoin will replace fiat currency by 2050

A local business in El Salvador that accepts bitcoin payments. Alex Pena/Anadolu Agency via Getty Images 54% of fintech experts surveyed expect bitcoin to overtake currencies issued by central banks in global finance by 2050. The move could also take place by 2035, according to 29% of respondents. The majority of the panel see bitcoin as currently undervalued, and the price rising this year to $66,284. See more stories on Insider's business page. Bitcoin, the world's most traded cryptocurrency, will surpass money issued by central banks as the dominant form of finance worldwide in less than 30 years, according to a panel of fintech specialists. 54% of 42 crypto experts surveyed foresee so-called hyperbitcoinization-or the moment that bitcoin overtakes global finance - occurrin...
Bank of Japan, CBDC, Central Bank Digital Currency, Cryptocurrencies, digital assets, digital currencies, Digital Currency, digital yuan, Japanese yen, Markets, MI Exclusive

Japan’s plans for a digital yen could start to take shape next year, according to a top lawmaker, report says

REUTERS/Shohei Miyano The head of the ruling party's digital currency initiative told Reuters digital yen plans could take shape next year. He said he expected this to provide clarity on its impact on the existing financial system. The Bank of Japan started exploring a central bank digital currency earlier this year. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Japan's plans for a digital yen could start to come together next year and the design of a potential central bank digital currency will be clearer then, the head of the ruling party's digital currency initiative, Hideki Murai, told Reuters in an interview published on Monday. "By around the end of next year, we'll have a clearer view of what Japan's CBDC would look like," he said, adding this...
argentina, Bitcoin, Brazil, CBDC, Central Bank Digital Currency, Central Banks, crypto, digital assets, El Salvador, El Salvador bitcoin, Emerging Markets, Ether, Markets, MI Exclusive, Panama

Emerging markets could be the next big frontier for crypto. A slew of politicians want to follow El Salvador and adopt bitcoin as legal tender.

Emerging markets are pioneering digital and crypto currency usage, trading and mining. Since El Salvador voted to adopt bitcoin as legal tender, a slew of politicians have said they want to follow suit. Many showed their support through tweets or by adding the symbolic laser eyes to their Twitter pictures. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrencies can often stir up concern among conservative investors and few are as conservative as central banks, and regulators are definitely skeptical. But this does not appear to be the case in emerging markets.Politicians, central bankers and reg...