Surge of Interest in Bitcoin (BTC) Halving Could Boost Crypto Market at Large: eToro Analyst Simon Peters


China’s cryptocurrency currently the first, but fears remain

There was a biggie last week with the leaking of China’s much anticipated central bank digital currency (CBDC). The leak revealed extensive details of how the accompanying app works, a look at the visuals of the wallet, and a preview of what the currency would look like for the general public.

A digital coin from China has been much talked about, so this tease is exciting news as central banks launching digital currencies would help increase the widespread adoption of cryptoassets, which in turn would show people the benefits that cryptoassets can bring to the real world.

Clearly China is on the hunt for supremacy in cryptoassets, as well as looking to usurp the US dollar as the world’s dominant currency. Tie China’s digital currency with its intention to launch the Blockchain-based Service Network, which will help companies deploy blockchain technology in a smarter and more efficient manner, and there is no doubt the country with the world’s second biggest economy is looking to take the blockchain bull by the horns.

However, for those of us who appreciate the decentralized nature of cryptoassets, there is a fear that having the world’s most authoritarian superpower launching its own highly centralized digital currency could actually lead to more surveillance of its population. Blockchain technology enables you to track transactions and for this reason, it will be harder for people to maintain privacy. Some people are unbanked for exactly this reason.

Facebook new approach could go well with the regulator – but not with the community

Mark Zuckerberg’s social media mastodon outlined the new direction of its heavily debated Libra project. The paper published by the Libra Association makes three key changes: Libra will be permissioned at first; it will…

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