π In connection with the #COVID-19 #pandemic, many Central Banks of various countries began the study of digital money - #CBDC.
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πͺπΊπͺπΊπͺπΊ The #ECB has published a report in which it considered the possibility of using #Stablecoin.
The report noted the risks and benefits of using Stablecoin. The advantages of the ECB are simplicity and speed of use. Risks included cost, system reliability, and system failures.
The report also examined the possibility of using Stablecoin as an investment.
The ECB noted that Stablecoin may fall under the regulation of various legal acts. Therefore, it is necessary to consider in more detail and possibly adopt a regulatory framework in the future.
Otherwise, Stablecoin can refuse outside legal regulation. π π π
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The report noted the risks and benefits of using Stablecoin. The advantages of the ECB are simplicity and speed of use. Risks included cost, system reliability, and system failures.
The report also examined the possibility of using Stablecoin as an investment.
The ECB noted that Stablecoin may fall under the regulation of various legal acts. Therefore, it is necessary to consider in more detail and possibly adopt a regulatory framework in the future.
Otherwise, Stablecoin can refuse outside legal regulation. π π π
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π π π What is a digital dollar?
A "digital dollar," as defined by current congressional bills, is not a decentralized blockchain-based token, but rather a debt notation on a centralized ledger maintained by the Federal Reserve. π π π
A U.S. digital dollar wouldnβt be a central bank digital currency, which itself isnβt exactly a cryptocurrency. It would not be decentralized; on the contrary, it would be issued by the Fed. A centralized database (run by the Fed or another entity) would securely track consumer and business balances, and people could access funds through digital dollar wallets, which would also be managed by the Fed. π π π
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A "digital dollar," as defined by current congressional bills, is not a decentralized blockchain-based token, but rather a debt notation on a centralized ledger maintained by the Federal Reserve. π π π
A U.S. digital dollar wouldnβt be a central bank digital currency, which itself isnβt exactly a cryptocurrency. It would not be decentralized; on the contrary, it would be issued by the Fed. A centralized database (run by the Fed or another entity) would securely track consumer and business balances, and people could access funds through digital dollar wallets, which would also be managed by the Fed. π π π
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π π π A Chinese party school has published books on new #information #technology.
One of the books talks about #blockchain technology.
Also in this book, assumptions are made for the further #development of technologies and their application. π π π
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One of the books talks about #blockchain technology.
Also in this book, assumptions are made for the further #development of technologies and their application. π π π
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πThe #ECB has begun an in-depth study of #DLT technology.
#FSBC is studying the benefits of using DLT in Europe.
The FSBC described digital euro as it can be used to correct a deficiency of an existing monetary system.
On May 14, the #Central π¦ #Bank of France began a test sale of securities for #digital #euros. Then he continued testing with several tanks. The project focuses on #institutional #clients and banks, and not on individual users. The regulator explained this by the fact that when testing the digital euro, the potential of #blockchain #technology in interbank regulation and the reduction of financial risks is simultaneously studied.
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#FSBC is studying the benefits of using DLT in Europe.
The FSBC described digital euro as it can be used to correct a deficiency of an existing monetary system.
On May 14, the #Central π¦ #Bank of France began a test sale of securities for #digital #euros. Then he continued testing with several tanks. The project focuses on #institutional #clients and banks, and not on individual users. The regulator explained this by the fact that when testing the digital euro, the potential of #blockchain #technology in interbank regulation and the reduction of financial risks is simultaneously studied.
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β³οΈβ³οΈβ³οΈ What is NFT?
Non-interchangeable tokens, i.e. (Non-fungible or NFT) are unique digital items with ownership on the blockchain. For example, digital art or collectibles.
So what are non-interchangeable tokens on the blockchain?
For example, domain names are a digital asset, namely Non-interchangeable. There are many digital assets, they differ from each other only in terms of liquidity, compatibility, attractiveness. In our life there are a lot of objects that we own. But not all items we can sell or transfer to someone else.
You ask, what does the blockchain have to do with it?
Our objects are physical, they are not virtual. So the blockchain will add to the objects a few more properties. The first is standardization. It allows NFT tokens to be displayed immediately in all wallets, sold on different trading floors, and displayed in virtual worlds. Instant sales increase token liquidity. β³οΈβ³οΈβ³οΈ
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Non-interchangeable tokens, i.e. (Non-fungible or NFT) are unique digital items with ownership on the blockchain. For example, digital art or collectibles.
So what are non-interchangeable tokens on the blockchain?
For example, domain names are a digital asset, namely Non-interchangeable. There are many digital assets, they differ from each other only in terms of liquidity, compatibility, attractiveness. In our life there are a lot of objects that we own. But not all items we can sell or transfer to someone else.
You ask, what does the blockchain have to do with it?
Our objects are physical, they are not virtual. So the blockchain will add to the objects a few more properties. The first is standardization. It allows NFT tokens to be displayed immediately in all wallets, sold on different trading floors, and displayed in virtual worlds. Instant sales increase token liquidity. β³οΈβ³οΈβ³οΈ
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β³οΈβ³οΈβ³οΈ
The Bank of Lithuania plans to launch its blockchain platform (LBChain) in the fourth quarter of 2020.
β³οΈβ³οΈβ³οΈ
And also complete commercial purchases with fintechs and service providers that are currently participating in the LBChain project.
β³οΈβ³οΈβ³οΈ
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The Bank of Lithuania plans to launch its blockchain platform (LBChain) in the fourth quarter of 2020.
β³οΈβ³οΈβ³οΈ
And also complete commercial purchases with fintechs and service providers that are currently participating in the LBChain project.
β³οΈβ³οΈβ³οΈ
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π The #Π‘OVID-19 #pandemic caused widespread discussion about the need to reform the financial system that would better meet the needs of society. When developing a program to support the #economy, the Democrats proposed creating a digital version of the dollar and wallet. π
π In May, a member of the House of Representatives of the US Congress introduced a bill that would create the outline of a comprehensive blockchain strategy in the #United States. π
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π In May, a member of the House of Representatives of the US Congress introduced a bill that would create the outline of a comprehensive blockchain strategy in the #United States. π
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π π π Dollar 2.0. π π π
You can divide the various types of crypto-dollars into three groups, two of which are interchangeable stablecoins:
#centralized currencies with dollar security;
#decentralized currencies with collateral;
synthetic dollars with collateral in the form of derivative financial instruments.
#Stablecoins are quite common today, so we will not consider.
π π π But synthetic dollars with collateral in the form of derivative financial instruments are an #interesting tool.
Bitcoin for most is the embodiment of several ideals at once. This is sovereign hard #money, a currency with a fixed volume of issue, which has value because it cannot be discounted. Or use it as a speculative tool. Bitcoin can be used as collateral for the #issuance of synthetic dollars, a #financial #instrument outside the sphere of influence of the traditional system, but with the purchasing power of the dollar. That is, in other words, Eurodollars. βΆοΈ
You can divide the various types of crypto-dollars into three groups, two of which are interchangeable stablecoins:
#centralized currencies with dollar security;
#decentralized currencies with collateral;
synthetic dollars with collateral in the form of derivative financial instruments.
#Stablecoins are quite common today, so we will not consider.
π π π But synthetic dollars with collateral in the form of derivative financial instruments are an #interesting tool.
Bitcoin for most is the embodiment of several ideals at once. This is sovereign hard #money, a currency with a fixed volume of issue, which has value because it cannot be discounted. Or use it as a speculative tool. Bitcoin can be used as collateral for the #issuance of synthetic dollars, a #financial #instrument outside the sphere of influence of the traditional system, but with the purchasing power of the dollar. That is, in other words, Eurodollars. βΆοΈ
βΆοΈ One of the easiest ways to turn bitcoins into synthetic dollars is through futures, especially perpetual swap contracts offered by a number of #crypto #exchanges that give speculators the opportunity to #trade in a pair of BTC / USD with a margin of BTC. #Cryptocurrency perpetual swaps are structured as non-linear inverse futures contracts, that is, the value of the contract is measured in one currency, USD, while the position is marginated and calculated in another currency, #BTC.
As the name implies, these derivatives have a non-linear payout structure, because the value of collateral is constantly changing, and the value of the position remains constant. In linear contracts, for each% of the #price change, the profit also changes by the same%, but in inverse contracts for BTC the convexity is relative, whether for a long or short position.
Long positions earn less Bitcoin when the price rises, and lose more Bitcoin when the price drops.
Short positions, on the other hand, earn more Bitcoins when the price goes down, and lose less Bitcoins when the price goes up. The value of the dollar remains unchanged. This is how synthetic dollar #positions are created. π π π
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As the name implies, these derivatives have a non-linear payout structure, because the value of collateral is constantly changing, and the value of the position remains constant. In linear contracts, for each% of the #price change, the profit also changes by the same%, but in inverse contracts for BTC the convexity is relative, whether for a long or short position.
Long positions earn less Bitcoin when the price rises, and lose more Bitcoin when the price drops.
Short positions, on the other hand, earn more Bitcoins when the price goes down, and lose less Bitcoins when the price goes up. The value of the dollar remains unchanged. This is how synthetic dollar #positions are created. π π π
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βοΈβοΈ Since 2018, #cryptocurrencies have been used to create a synthetic dollar, but for some reason this topic has not been discussed. #Cryptodollars are easy to get and use in #transactions, unlike #fiat systems. There is global demand for dollars, so is the use of cryptocurrencies possible, will make it possible to further strengthen the dollar?
Will #hypercrypodollarization be used in the near #future?
Consider reconciliation options.
1β£. The scenario is an even greater involvement of #people in cryptocurrencies. But there are also βconsβ, these are the costs of the #commission and the purchase of alternative #currency (#cost).
2β£. Profitability and price increase. The yield on stemcoins is higher than US short-term treasury bills.
3β£. This is a use in money transfers. Especially in those countries where capital flows are controlled. ββοΈ
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Will #hypercrypodollarization be used in the near #future?
Consider reconciliation options.
1β£. The scenario is an even greater involvement of #people in cryptocurrencies. But there are also βconsβ, these are the costs of the #commission and the purchase of alternative #currency (#cost).
2β£. Profitability and price increase. The yield on stemcoins is higher than US short-term treasury bills.
3β£. This is a use in money transfers. Especially in those countries where capital flows are controlled. ββοΈ
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β΄οΈβ΄οΈβ΄οΈ The new alternative #financial #system, created on the basis of cryptocurrencies, is increasingly assimilating into the world of #traditional finance, starting to seize its share from existing systems. However, this assimilation is unlike what everyone had previously imagined. Dreams about how the world will massively abandon fiat money and switch to cryptocurrencies have crashed into the same harsh reality in which the entire world monetary system lives: everyone wants dollars. β΄οΈβ΄οΈβ΄οΈ
β³οΈ What does the dollar and the growing use of cryptocurrencies mean for cryptocurrencies?β³οΈ
π There is an argument that deflation caused by the dollar will be harmful to cryptocurrencies, because the world perceives it as a high-risk asset. May be so. But perhaps the dollar will lead to the widespread depreciation of other national currencies, and although the dollar belongs to safe haven assets, most likely, in this situation there will be an increased demand for hedging against fiat currencies in general.π
β΄οΈβ΄οΈβ΄οΈ If there is dollar inflation, it can be expected that cryptocurrencies will be used as an accessible bridge to non-depreciable assets (cryptocurrencies). β΄οΈβ΄οΈβ΄οΈ
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β³οΈ What does the dollar and the growing use of cryptocurrencies mean for cryptocurrencies?β³οΈ
π There is an argument that deflation caused by the dollar will be harmful to cryptocurrencies, because the world perceives it as a high-risk asset. May be so. But perhaps the dollar will lead to the widespread depreciation of other national currencies, and although the dollar belongs to safe haven assets, most likely, in this situation there will be an increased demand for hedging against fiat currencies in general.π
β΄οΈβ΄οΈβ΄οΈ If there is dollar inflation, it can be expected that cryptocurrencies will be used as an accessible bridge to non-depreciable assets (cryptocurrencies). β΄οΈβ΄οΈβ΄οΈ
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πππ Do countries need a national digital currency (CBDC)? πππ
#CBDC or #national #digital #currency - just ask for the digital form of a fiat currency of the country. Instead of printing paper banknotes and minting coins, the Central Bank will issue electronic tokens.
π Deposits that are stored today in the #commercial #banks are already digital and can be moved in electronic form with a large shelf.
π The Central Bank begins the study of the use of national digital currencies. #Economists confirm that the digital currencies of the #Central #Bank can improve the functioning of the market.
π The Bank of International Accounts (#BIS) stated that they could improve liquidity by increasing the speed of transactions.
π The #Bank of England noted that digital money is able to increase #BBP by 3% due to the reduction of operational charges.
π In states with a forming market economy, national digital currencies are considered first and foremost as a result of the expansion of the financial situation. This will allow the authorities to include in the digital economy the aim of not having access to the banking services.
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#CBDC or #national #digital #currency - just ask for the digital form of a fiat currency of the country. Instead of printing paper banknotes and minting coins, the Central Bank will issue electronic tokens.
π Deposits that are stored today in the #commercial #banks are already digital and can be moved in electronic form with a large shelf.
π The Central Bank begins the study of the use of national digital currencies. #Economists confirm that the digital currencies of the #Central #Bank can improve the functioning of the market.
π The Bank of International Accounts (#BIS) stated that they could improve liquidity by increasing the speed of transactions.
π The #Bank of England noted that digital money is able to increase #BBP by 3% due to the reduction of operational charges.
π In states with a forming market economy, national digital currencies are considered first and foremost as a result of the expansion of the financial situation. This will allow the authorities to include in the digital economy the aim of not having access to the banking services.
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π At a hearing on the #House #Committee on #Financial #Services, #Federal #Reserve Chairman Jerome Powell said.
πΊπΈ If #CBDC is something that will be useful for the economy of the #United #States and for the dollar, then we should be the #first there.
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πΊπΈ If #CBDC is something that will be useful for the economy of the #United #States and for the dollar, then we should be the #first there.
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Vast new opportunities for buying cryptocurrencies from VISA / MASTERCARD to WBB Exchange β ππππ
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π π π
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Buy BTC, BAT, ETH
from VISA / MASTERCARD
on WBB Exchange
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