Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Friday, 18 September 18:01 (GMT -05:00)



Foreign exchange market

DNB's Open For CBDC


De Nederlandsche Bank (DNB), the central bank of the Netherlands, is reported to be open for the CBDC of the ECB. CBDC stands for central bank digital currency. This was officially backed by a 45-page report released on April 21st. With that being said, DNB is ready to play one of the key roles in adopting digital currencies by the global banking system.
 
In particular, the central bank is willing to participate in the ECB's CBDC emission. it is expected that the digital Euro will make international payments faster and cheaper for all of the EU members. The Netherlands want to become a testing ground for this process.
 
It's also interesting to note that the report mentions Facebook Libra as a potential threat for the stability of the money-and-credit policy, which is why more and more central banks around the globe are  now considering the possibility of emitting their own digital currencies.
 
No More Cash?
 
According to the report, this step is made to reduce the amount of cash circulating in the Netherlands. Almost 2/3 of the financial transactions in the country are digital. And the tendency is going to move in that direction since paper money is considered as a means of spreading viruses due to the physical contact required to pass the money around. Many shops in the Netherlands ask their customers to avoid paying in cash and use wireless payments instead.
 
CBDCs in 2020?
 
Chances are, the People's Bank of China is going to launch their own CDBC this year. In the report released on April 4th, the central bank says they will continue this process, and the new yuan will become one of the key priorities. A couple of days ago, we found a few screenshots of the test app for the digital yuan.
 
On top of that South Korea and Sweden have launched their test programs aimed at estimating the process of launching their own CBDC. Moreover, France has recently started their experiments with the digital euro. In his turn, the ECB President welcomes all of the efforts taken by the central banks of EU members in the field of plating around with CDBCs.

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

How To Get Ready For Bitcoin Boom 2020?

Cryptocurrencies keep on growing in value. If you are going to buy your first coins, this is what you should do first.
Publication date: 30 August 11:27 AM

U.S. Tech Companies Increase Stock Buyback

Publication date: 20 August 06:10 AM

Altcoin Mining Account For Over 30% Of Overall Crypto Mining Consumption

Scientists for the University of Munich urge the regulators to go beyond the BTC scope when it comes to crypto mining affecting the environment. They say that Bitcoin accounts for over 66% of the entire energy consumed by crypto mining, based on the basic algorithms, the current hashing speed, and the mining equipment used, while altcoins account for the rest of it. Consequently, altcoins add almost 50% on top of Bitcoin's energy demand, which in itself may result in considerable damage to the environment.

Publication date: 09 August 11:06 AM

GBP Prospects After BoE's Interest Rate Decision

The United Kingdom's financial authorities have published the information on its money-and-credit policy:
- The interest rate decision: 0,10% (prediction: 0,10%, previously: 0,10%)
- BoE's MPC: votes for interest rate cuts: 0 (previously: 0)
- BoE's MPC: votes for interest rate hikes: 0 (previously: 0) 
- BoE's MPC: votes for keeping the interest rate unchanged: 9 (previously: 9) 
- BoE's total QE: 725 billion pounds (prediction: 725 billion pounds, previously: 725 billion pounds)
Publication date: 06 August 08:32 AM

USA Sponsors Experimental COVID-19 Vaccines

A billion dollars for 100 million dozes of a vaccine that's not create yet. The U.S. Government has already paid for a potential vaccine. This is yet another transaction of that kind. This time, the money was paid to Johnson & Johnson. Apparently, the government has been sponsoring all kinds of experimental vaccines. Basically, Johnson & Johnson is expected to ship 100 million dozes of this vaccine at the price of 10 dollar per doze.

Publication date: 05 August 07:30 AM

Bitcoin Reaches $9500. Will It Drive Crypto Market Rally?

The BTC exchange rate has finally broken free from from the narrowing price range and rallied above $9500 per coin. What's coming next? Will the coin test $10000? If so, will this test be successful?

Publication date: 26 July 10:59 AM

Ethereum and Bitcoin Are Close To 5-Month and 1-Month Highs Respectively

After going out of the triangle in the first half of the trading week, Bitcoin started growing faster on Tuesday and Wednesday, thus gaining over 4% in 2 days and testing 9573 dollars per coin, the highest level in 4 weeks. Still, Thursday's session brought a modest correction down and a move back to 9500 dollars per coin and below. In the broad market of cryptocurrencies, Ethereum is the best performer. It has already gained over 7% over the last 24 hours and is currently testing 270 dollars per coin.
Publication date: 26 July 10:08 AM

China Will Test Digital Yuan On Food Delivery Platform

The People's Bank of China is planning to test the digital yuan by putting it to good use with the help of Meituan Dianping, a Beijing-based food delivery platform. It should be noted that this is a rather popular platform with 435 million active users, processing billions of dollars in transactions on a daily basis. Apparently, this opens big opportunities for mass introduction of the digital yuan, which is also known as the Digital Currency Electronic Payment (DCEP).

Publication date: 23 July 09:57 PM

Japan Will Include CBDC In Its Official Economic Plan

The Japanese government is planning to include the CBDC (Central Bank Digital Currency) in their official economic development plan. The information appeared 10 days after the Bank of Japan announced their plans to experiment with the digital yen in order to figure out what it is capable of in practice.

Publication date: 20 July 02:53 AM

World's Biggest Crypto Scams

In his article on the website called Cointelegraph, Nick Bell described the most famous cryptocurrency scams known. In each fo them, investors collectively lost billions of dollars. The sad thing is, many of those scammers remain unpunished by the law.
Publication date: 17 July 09:14 AM