Capital Markets, Crypto & Central Bank Digital Currencies in 2021

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Capital Markets, Crypto & Central Bank Digital Currencies in 2021

LMAX Group’s David Mercer speaks to FinextraTV about how Bitcoin’s surge over the last few months can be attributed to investors seeking an inflationary hedge in the face of unprecedented government spending and printing of money by central banks, how Bitcoin's maturity as an asset class is likely to progress in 2021 and what role the value of cryptocurrencies will play in ongoing discussion and d…

CBDCs Are COMING!! Could Other Cryptos Benefit?! ��


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��Essential Videos��

CBDCs vs. Cryptocurrencies �� https://youtu.be/_ErRWQWPs8Q
Kakao Klaytn Cryptocurrency �� https://youtu.be/X3vbC60Mkjw
Latest Ethereum Updates �� https://youtu.be/lANUSdHg2oc
Fiat Ponzi Scheme �� https://youtu.be/L_f6R0DHNH0
Algorand Explained �� https://youtu.be/7NdjivxrDoc
China Crypto Crackdown �� https://youtu.be/iaY6MmU0C3A

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– TIMESTAMPS –
0:00 Intro
1:39 What Are CBDCs?
4:55 Turkey
5:29 Ukraine
6:28 South Korea
7:55 Israel
9:12 Europe (Euro Zone)
10:35 United States
12:33 China
14:18 Conclusion

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⛓️ �� Useful Links �� ⛓️

Sherblock Holmes Research: https://drive.google.com/drive/u/1/folders/1Z6BgoNqWMGZ1lnT94zF4kIDCzg1gKoho
► PriceWaterhouseCoopers CBDC Report: https://www.pwc.com/gx/en/industries/financial-services/assets/pwc-cbdc-global-index-1st-edition-april-2021.pdf
► Bison Trails CBDC Report: https://bisontrails.co/cbdc-intro/
► Turkey Tests Digital Lira: https://cointelegraph.com/news/amid-inflation-woes-turkey-announces-cbdc-tests-planned-for-2021
► Ukraine And Stellar: https://cointelegraph.com/news/ukraine-taps-stellar-to-develop-digital-asset-infrastructure-including-cbdc-framework
► Consensys And Klaytn For South Korea: https://cointelegraph.com/news/consensys-to-develop-private-version-of-kakao-s-klaytn-blockchain
► Israel And Ethereum: https://cointelegraph.com/news/bank-of-israel-steps-up-cbdc-efforts-with-reported-tests-on-ethereum
► European Union And Ethereum: https://cointelegraph.com/news/100m-euro-digital-bond-was-a-cbdc-test-says-banque-de-france
► FED To Test Digital Currency: https://www.cnbc.com/2021/05/20/the-fed-this-summer-will-take-another-step-ahead-in-developing-a-digital-currency.html
► How China’s Digital Yuan Works: https://www.reuters.com/article/us-china-currency-digital-explainer-idUSKBN27411T

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��‍��What Are CBDCs?��‍��

CBDC is short for central bank digital currency, or as I like to call it, the ultimate shitcoin. This is because CBDCs are just digital fiat currencies that are issued and controlled by a country’s central bank

��Turkey��

Turkey has been planning a digital Lira since 2019, and they should have begun testing their CBDC in the first half of this year. However, no news has come out about that yet. It is also not known which blockchain Turkey will choose for its CBDC.

✨Ukraine & Stellar✨

The Ukranian government announced earlier this year that it had partnered with the Stellar Foundation to develop their CBDC, though it appears they will not be deploying it on Stellar’s public blockchain

��South Korea & Klaytn��

The Bank of Korea recently announced that they’re officially looking for a tech company to help them test their CBDC this summer

The prime candidate seems to be Klaytn, an enterprise-oriented clone of Ethereum that recently teamed up with Consensys to create a permissioned version of their blockchain for South Korea’s CBDC trials

��Israel & Ethereum��

In May this year the Bank of Israel suddenly revealed its definitive plans to issue a CBDC. It only took a month for them to begin testing their tech, and it seems like they’ve chosen Ethereum as their blockchain of choice

�� Europe & Ethereum��

The European Union is also looking to develop a digital Euro. This is a recent development given that the European Central Bank only jumped on the CBDC bandwagon late last fall

It seems that Europe’s Central Bank has been taking notes of CBDC developments elsewhere, because they’ve already begun testing their CBDC technology on Ethereum, at least according to French officials

��United States & Algorand��

Early 2020 is when the FED really started to put CBDCs on their list of priorities. Multiple digital dollar pilots are already underway by private companies

The real question is which cryptocurrency blockchain the United States could tap for its CBDC, and the evidence points to Algorand

��China��

China’s own motivation for creating a digital yuan stems from the dominance of the tech giants within its own country which have effectively taken over the payments industry

According to Reuters, China’s digital yuan does not use a blockchain, which begs the question of whether it counts as a central bank digital currency

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�� Disclaimer ��

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Crypto #CBDC #Cardano #Ethereum #Stellar #ECB #FED

Better than Bitcoin? Why central banks are racing to launch digital currencies | Business Beyond


The rise of cryptocurrencies like Bitcoin caused central banks around the world to sit up and take notice. Concerned about what widespread adoption could mean for their ability to implement economic policy, they are now racing to create their own forms of digital money. With China charging ahead, how will the new era of central bank digital currencies disrupt existing power dynamics in the financial system? And what will all of this mean for consumers?

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CBDCs: Good or Bad for Crypto?? ��


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– TIMESTAMPS –
0:00 Intro
1:56 What are CBDCs?
6:31 Implications of a successful CBDC
11:04 Could CBDCs be key to digital currency adoption?
12:58 CBDC challenges
15:07 My thoughts on the future of CBDCs
22:27 Final thoughts

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⛓️ �� Useful Links �� ⛓️

► What is a CBDC: https://www.pwc.com/gx/en/financial-services/pdf/the-rise-of-central-bank-digital-currencies.pdf
► 70% of central banks involved in CBDC research: https://cointelegraph.com/news/bis-70-of-central-banks-involved-in-cbdc-research-only-several-have-concrete-plans
► FED researches CBDCs: https://www.bankingdive.com/news/fed-central-bank-digital-currency-Lael-Brainard/583631
► China’s digital Yuan: https://cointelegraph.com/news/chinas-digital-yuan-cbdc-is-close-but-many-details-remain-unknown
► Sweden’s digital e-Krona: https://www.europeanceo.com/finance/the-risks-and-benefits-of-swedens-proposed-e-krona/
► CBDCs & de-dollarisation Cambodia: https://www.centralbanking.com/fintech/cbdc/7649541/cbdc-can-boost-de-dollarisation-and-inclusion-cambodia
► Marshall Islands SOV CBDC: https://www.businesswire.com/news/home/20190910006125/en/The-Republic-of-the-Marshall-Islands-Announces-Timed-Release-Monetary-Issuance-of-the-Marshallese-Sovereign

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❓What are CBDC’s ❓

In short, they are digital payment tokens which are issued and fully backed by a central bank. Another key distinction is that they are considered legal tender.

Incredibly, 70% of all Central Banks in the World are conducting some sort of research into CBDCs right now!

That includes countries like the US, China, Sweden, Cambodia and many more.

But why all the hype? There are three main reasons:

► Efficiency: increasing the ease of deploying monetary policy.
► Increasing financial inclusion: this is particularly salient in emerging markets where access to ATMs might require a walk spanning several days.
► To create or protect a form of monetary sovereignty.

But here’s the question; why use blockchain for CBDCs? In a nutshell, blockchain offers a good balance between the privacy characteristics of cash and the security characteristics of deposits.

�� Implications of a Successful CBDC ��

We need to distinguish between the benefits for Central Banks and the broader public. In emerging markets, cash can be very hard for many people to access and involve a mammoth journey to the nearest cash machine. That can be dangerous and put people at risk of being robbed.

With CBDCs, they actually have an immediate convenience and security benefit for users. To access them, all you need is a phone.

I go further into the benefits of CBDCs in my vid.

�� Could CBDCs be key to digital currency adoption? ��

One of the key things holding back digital currency adoptions seems to be the lack of interfacing with the existing financial system – after all, the vast majority of people are not in crypto.

That is why people claim that for any digital currency to be widely adopted, it needs to be accepted by the current financial system. The easiest way of doing that is actually by issuing a CBDC from an official actor.

The Marshall Islands might be an interesting case study for that. I explain that in the video.

��️ CBDC Challenges ��️

CBDCs might seem like a no-brainer, however, there are challenges.

The first is usability. This is a problem particularly in countries in an emerging market context; what happens if one of the people trying to transact doesn’t have a smartphone?

How can you make payments digital for people with just a bog standard phone?

The truth is that most people in the World don’t have a smartphone and this makes this challenge key if CBDCs are truly going to be widely adopted.

The second, big challenge is privacy. The privacy paradox is that Central Bankers quite like the privacy preserving nature of cash as it provides resilience against the state. On the other hand, there is a bunch of AML and KYC regulation for larger payment amounts.

�� The Future of CBDC’s ��

Watch the vid to hear my thoughts on the future of CBDCs and what all this means for crypto!

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�� Disclaimer ��

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#CBDC #crypto #blockchain #banking #eyuan #fed #euro

BTC097: Central Bank Digital Currencies vs. Bitcoin w/ Sam Callahan


Preston Pysh talks with Sam Callahan about what Central Bank Digital Currencies are and how they could potentially be used as a censoring tool for global governments.

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 – Intro
00:00:40 – Sam’s comments on the World Economic Forum’s (WEF) excitement for Ethereum’s (ETH) Proof of Stake Merge.
00:12:33 – Sam’s overview on Central Bank Digital Currencies (CBDC).
00:14:48 – Why Sam has concerns about what CBDC’s will take away from everyday citizens.
00:36:40 – How Sam thinks CBDC will be implemented around the world.
00:41:30 – Sam explains the history of the European Central Bank (ECB) and the challenges it faces with the emerging energy crisis.
01:01:37 – What is the most important thing happening right now in markets that you think many people are missing?

✔️ Subscribe to the Preston Pysh channel: https://www.youtube.com/c/PrestonPysh
��️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/bitcoin-fundamentals/central-bank-digital-currencies-bitcoin-sam-callahan/

▶️ RELATED EPISODES:
– (BTC065) What Does The BIS, IMF, & World Bank Even Do? w/ Sam Callahan: https://www.theinvestorspodcast.com/bitcoin-fundamentals/what-does-the-bis-imf-world-bank-even-do-sam-callahan/

�� OTHER RESOURCES
– Sam’s Twitter Post on the WEF’s activities around Proof of Stake: https://twitter.com/samcallah/status/1496330324351270914
– Connect with Sam: https://twitter.com/samcallah
– Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a special $140 discount: https://bit.ly/3PVyNfF

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On Bitcoin Fundamentals, Preston Pysh talks about the fundamentals of bitcoin, investing in bitcoin, news, deep dives and more on interviews with prominent people in blockchain technology.

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WHO I AM:
I’m Preston Pysh, an entrepreneur, investor, author, and cryptocurrency ₿ proponent. I’m the founder of BuffettsBooks.com and Pylon Holding Company. I have authored and co-authored ��️ a number of investment and autobiographical works and also wrote multiple finance and investing-related articles for Forbes from 2016 and 2018. I take great pleasure in taking complex ideas �� and making them accessible.

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