Digital Yuan to Fuel China’s Economic Reign – McDonald’s, Starbucks, Subway Test PBoC’s Cryptocurrency

Digital Yuan to Fuel China’s Economic Reign - McDonald’s, Starbucks, Subway Test PBoC’s CryptocurrencyChina’s economy is the second-largest in the world and economists believe the country may someday bring a new global order and end the Western hemisphere’s financial rule. In 2020, various reports show that China’s central bank will soon release a cryptocurrency that represents a digital yuan. This week, regional reports show that 19 well known […]

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China Is Drafting Laws for the Circulation of National Digital Currency

China Is Drafting Laws for the Circulation of National Digital CurrencyAmid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media. A number of patents have revealed what the digital yuan will be like. Also read: 2x Bitcoin — Wanna Double Your […]

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A Sea Change to Crypto Hits America, Again

A Sea Change to Crypto Hits America, AgainA sea change is coming to cryptocurrency in America. It is likely to hit in two separate waves: a central bank digital currency (CBDC) and draconian regulation that shuts down free-market activities, including development. Also Read: No Backdoor on Human Rights: Why Encryption Cannot Be Compromised The Wave of a Central Bank Digital Currency Robert […]

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84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan

84 PBOC Digital Currency Patents Show the Extent of China's Digital YuanThe People’s Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank’s plans which include integrating digital currency wallets into existing retail bank accounts. The potential for the Chinese central bank digital currency to achieve scale from the get-go has put […]

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Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger

Fed Chair Jerome Powell Reveals US Response to Digital Yuan, Libra, Public Payments LedgerIn his testimony before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell answered a number of questions regarding digital currencies. While stating that “a ledger where you know everybody’s payments” is not a problem in China, he believes it is not attractive for the U.S. Admitting that Facebook’s Libra project was a wake-up […]

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Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash Survive

Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash SurviveA new report from Deutsche Bank Research, Digital Currencies: the Ultimate Hard Power Tool, predicts that cash payments will remain for decades, but the emergence of digital payments “will lead to the death of the plastic card.” The report, which is the third installment in a series on payments by the group, points to economies […]

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China Issues Digital Currency Guide for Party Cadres

China Issues Digital Currency Guide for Party CadresUnderstanding a complex subject should be easier with access to educational materials. With blockchain and CBDC now part of Beijing’s political vocabulary, the Communist Party of China (CPC) has issued a guide to digital currencies meant to prepare party officials for upcoming changes in the country’s financial system. Also read: China Saw $11.4 Billion in […]

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