How Will China’s DCEP Affect WeChat Pay and Alipay?

With the growing interest and adoption of cryptocurrencies, about 80% of central banks worldwide are looking to create their own cryptocurrency. The People’s Bank of China (PBoC) is at the forefront of them all. China’s central bank has been working on its DCEP for about six years now. In 2018, China’s Central Bank former governor Zhou Xiaochua pointed out that it will take nothing less than a decade for its digital yuan to be fully functional. However, several events have propelled this timeline forward. One of which was the proposed

MIT is helping the Boston Fed build a CBDC that can be scaled for consumer use

The MIT Digital Currency Initiative, or DCI, is helping the federal reserve bank of Boston build a digital currency with the goal of scaling for consumer use. The DCI’s director Neha Narula told Cointelegraph:“We're trying to build a high throughput, low latency transaction system that could be used by consumers and could handle the security and resilience required for a national currency.”The multi-year collaboration between the two organizations is still in very early stages and not much information is being released to the public. Yet the focus is not on building

Social Media And Crypto: Friends Or Foes?

Social media has become a major factor in modern society. What is the relation between them and the cryptocurrency world? In 2018, this topic became popular due to the announcement of Facebook‘s own stablecoin, Libra, causing a lot of controversies. However, the relation between cryptocurrencies and social media goes beyond Zuckerberg’s approach to the fintech world. Facebook: the great unknown We have written enough about Libra on since the announcement of this cryptocurrency in the middle of 2018. And even if Facebook’s recent approach to cryptocurrency is most often

Cryptocurrencies In The United States

Cryptocurrencies seem to fit into the USA perfectly – yet the country appears to be reluctant to the idea of decentralized money.  The topic of cryptocurrency utilization in the United States is constantly recurring on many occasions. Despite being the leader in new technologies and the birthplace of many high tech companies, decentralized money is still a debatable matter in this country. Last year was exceptionally hard for crypto in that matter, because of the ongoing legal fight with Facebook’s stablecoin, Libra. We got used to the situation when the

Three currency wars, not one

This short blog post describes three different types of currency wars that seem to be happening at the moment. The phrase “currency wars” is not new – typically is has referred to deliberate devaluation of one’s own currency to increase competitiveness of exports.  If your currency is worth less, then your goods are cheaper to foreigners, so they buy more of them, which is generally good for your country. Yet with increased discussion and relevance of fintech, wallets, central bank digital currencies, Libra, bitcoin, etc, it seems to me that