Former Canadian Prime Minister Mentions Bitcoin Alongside Gold as Alternative Reserve Currencies

Former Canadian Prime Minister Mentions Bitcoin Alongside Gold as Alternative Reserve CurrenciesFormer Canadian prime minister Stephen Harper has mentioned bitcoin alongside gold as assets that can possibly act as alternative reserve currencies. However, the former premier still argues that despite the growing questions about the dollar’s reserve status, he does not see any real prospect of that changing anytime soon. Instead, he envisions these alternatives becoming […]

EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities

EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure VulnerabilitiesThe European Union (EU) is reportedly planning to reduce its reliance on the U.S. dollar-based financial system, after American sanctions on Iran exposed the vulnerabilities of the bloc’s financial infrastructure. According to officials, who are now determined to challenge the dollar’s supremacy, the renewed desire to boost the role of the euro currency is also […]

The US Dollar’s Share of Global Reserve Currencies Drops as Japanese Yen’s Share Increases

The US Dollar's Share of Global Reserve Currencies Drops as Japanese Yen's Share IncreasesThe U.S. dollar’s dominant position as the reserve currency of choice may be in peril, as its share of global currencies held in reserves continues to decline. International Monetary Fund (IMF) data shows, the dollar’s share of reserves dropped from 66% in Q3 of 2014 to just above 60% in Q3 of 2020. This means […]

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Spanish Municipality Creates Its Own Cryptocurrency to Boost Economy Hurt by Coronavirus Crisis

Spanish Municipality Creates Its Own Cryptocurrency to Boost Economy Hurt by Coronavirus CrisisA municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact. Spain’s Sevilla Municipality Launches ‘Elio’ Cryptocurrency to Boost Local Economy According to Europa Press, the City Council of Lebrija created “Elio,” a […]

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EURST Stablecoin – The Cost of Answering the Call of the Economic Times

EURST Stablecoin – The Cost of Answering the Call of the Economic TimesThe technological developments brought about by the invention of blockchain, bitcoin, and cryptocurrencies are rapidly transforming the financial landscape with the nascent industry failing to fit any conventional classification to become an asset class of its own. Stablecoins Are the Solution Tumultuous as it was in its journey towards the mainstream, the digital currency industry […]

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