By CCN Markets: The New York Times suggests that Mark Zuckerberg is making a terrible move with his Libra cryptocurrency. The social media behemoth is certainly not early, but that doesn’t mean it won’t get a proper taste of the punch. Matt Stoller, who wrote the piece, goes on to claim: “The way we structure money and payments is a question for democratic institutions, not technology companies.” He argues that some fundamental problems will hold Libra back as it sets a lofty goal of taking the crown as global currency for a new world. Fallacy One: Organizing Payments Requires Enormous
On June 4, Bitcoin.com is launching a peer-to-peer marketplace called Local.Bitcoin.com that will allow users from around the world to buy and sell bitcoin cash (BCH). Now crypto enthusiasts and traders can create a pre-launch account to explore the trading platform and create orders on the exchange in advance.
Years of growth, trillions in government bonds, and substantial capital sought from outside investors may see a U-Turn in the coming days as Japan’s prized economic policies were found to be reliant on fraudulent data. As per estimates, over 40 percent of Japan’s 56 economic policies contain errors, casting a shadow on all of the country’s analysis and reports generated over the years. Faulty Methods Research methodologies – for all their benefits – suffer from a critical point-of-failure; that of sampling a small set of respondents and basing conclusions on limited, oft-skewed responses. And it seems like an integral division
By CCN.com: According to new figures from the International Monetary Fund (IMF), the European Central Bank (ECB), and the Chinese government, Europe and China are continuing to struggle following a poor year of growth in 2018. ECB President Mario Draghi said on January 24 that downside economic risks could pose a threat on the economy
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China’s economy is facing some of its toughest challenges in years. On Wednesday, a day after several Chinese government institutions vowed further stimulus to aid its financial sector, the People’s Bank Of China injected a net $ 83 billion (560 billion yuan) into open market operations via reverse repo operations — to counter its declining economy.
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Despite a recent stock market rally that has seen the Dow Jones Industrial Average rally back toward 24,000, economists are warning that the partial government shutdown and other factors have put the United States economy at its greatest risk of plunging into a recession in more than half a decade. US Recession Grows More Likely
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In an article published on MarketWatch, crypto critic Nouriel Roubini asserted that the risk of a financial crisis has grown significantly, mainly due to President Trump. While stock market indexes grew 20% in 2017, markets have been trading sideways for a major part of 2018, followed by steep drops across several sectors as markets closed
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According to an Iranian official, the integration of blockchain technology and cryptocurrencies could provide a much-needed boost to the country’s economy, per reports on the Tehran Times. Alireza Daliri, a Deputy for Management Development and Resources at the Vice Presidency for Science and Technology, stated that blockchain technology could provide Iran with a platform to
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Calgary has become the first Canadian city to launch a digital version of its local currency. Known as the Calgary Digital Dollar, the digital currency will be used exclusively in the City of Calgary located in Alberta Province and will operate alongside the federal currency, the Canadian Dollar (or the loonie as it is popularly
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Major crypto news and multi-media outlet CoinDesk announced on Wednesday that it has launched the Crypto-Economics Explorer, a new data platform that aims to offer an all-encompassing picture of the cryptocurrency market and its various digital assets. According to the announcement, the new platform offers a suite of 28 tools related to price, exchange, network effect, […]
Nineteen firms have been granted provisional licenses to operate crypto exchanges by the Philippine government-owned Cagayan Economic Zone Authority. In addition, eight firms have paid the application fees and are being reviewed. A list of all 27 companies has been published.
Provisional Licenses Issued
The Philippine government-owned Cagayan Economic Zone Authority (Ceza) on Friday published a list of all companies that have been issued Financial Technology Solutions and Offshore Virtual Currency (Ftsovc) and Offshore Virtual Currency (Ovc) licenses as well as those that have paid the application fees and are being reviewed.
A recent report by Bank of America Merrily Lynch asserts that rising oil prices stand as a non-trivial threat to global economic growth. If oil prices head above $ 100 a barrel, it could reduce global growth as much as 0.2 percentage points next year, according to the report. However, this outcome is largely dependent on the […]
Life in Venezuela is anything but.
Last year, the South American nation of 32 million led the world with 652% inflation and this year the economic turmoil is even worse. As of September 2018, the annual inflation was estimated at 200,000% and International Monetary Fund (IMF) said it could spike to a mindboggling 1,000,000% by December. At that rate, it’d be a waste of time counting your cash.
Venezuelans are seeking refuge in cryptocurrencies by making payments in Bitcoin (BTC), Dash (DASH) and other coins, and by converting whatever purchasing power their bolivars have left into tokenized assets. It’s a desperate situation: Grocery shelves are empty resulting in painful stomachs and those bolivars won’t buy anything at the fuel pump.
A recent survey by Fundstrat Global Advisors has revealed bullish sentiments among institutional investors in regards to the prospects of cryptocurrency performance during an economic recession.
Investors Say a Recession Will Boost Cryptocurrency Prices
According to the results from the survey, as reported by MarketWatch, more than 70 percent of institutional investors believe that prices of cryptocurrencies will increase during a recession.
This result tallies with a similar survey, this time among Twitter users. In the Twitter poll, 59 percent of the responders believe that virtual currency prices will surge during an economic crisis.
By 2050 there’ll be more plastic trash in the world’s oceans than fish. And the next generation could see more used car tires than there are trees. So how can blockchain — a digital technology — possibly be good for the environment?
By making processes more efficient which leads to less consumption. And by changing people’s behaviors, incentives and practices that affect the environment, according to new report by World Economic Forum (WEF) titled “Building Block(chain)s for a Better Planet.” For example, what if developers used smart contracts to pay people digital tokens so they’ll recycle more, use less water and properly dispose of waste?
The Chinese government is once again targeting cryptocurrencies, as the People’s Bank of China (PBoC) just issued a public notice warning investors of the risks inherent to cryptocurrencies and ICOs. In the report, the PBoC emphasizes that cryptocurrencies seriously disrupt economic, financial and social order, while ICOs are fraudulent fundraising methods that constitute criminal activity. The […]
Blockchain can transform the supply chain.
By using blockchain, small- and medium-size businesses (SMEs) around the world can obtain $ 1 trillion in trade financing, according to Sept. 13 whitepaper by World Economic Forum and consulting firm Bain & Co. The technology can be especially important in providing capital and improving efficiency in emerging countries — which often lack banking infrastructure and digital processes.
The authors of “Trade Tech – A New Age for Trade and Supply Chain Finance” point to red tape and excessive documentation as stifling international trade, especially in regions like Asia and Africa.
On the latest episode of The Bitcoin Game, host Rob Mitchell explains the recent trip he took to the World Economic Forum. Based in Davos, Switzerland, this international conference featured a wide number of economic experts and panelists within the international financial industry.
Sitting on one such panel titled “The Crypto Asset Bubble,” Jennifer Zhu Scott, a founding partner at Radian, later came on this week’s episode of The Bitcoin Game to discuss the trajectory of the future cryptocurrency industry worldwide, as well as her opinions on the space in her home country of China.
The Satoshi Revolution: A Revolution of Rising Expectations
Section 4: State Versus Society
Chapter 9, Part 5
Crypto: Other Than The Black Market, A Last Stand For Economic Freedom?
Money…is the economic area most encrusted and entangled with centuries of government meddling. Many people, many economists, usually devoted to the free market stop short at money. Money, they insist, is different; it must be supplied by government and regulated by government. They never think of state control of money as interference in the free market; a free market in money is unthinkable to them. Historically, money was one of the first things controlled by government, and the free market “revolution” of the eighteenth and nineteenth centuries made very little dent in the monetary sphere. So it is high time that we turn fundamental attention to the life-blood of our economy—money.
When it comes to cryptocurrency, it seems that there are always two sides of the (bit)coin.
On the negative side, there’s everything that can go wrong. For example, the unpredictable value swings can cause coin holders, savvy and suckers alike, to suffer life-changing losses. An exchange can get hacked and attacked, allowing hard-won earnings to vanish into the coffers of criminals without a trace. The blockchain, in all its beauty, is gobbling up power as it grows, raising questions about its environmental impact as it drives decentralization.