Press Releases Daily News TheBitTimes.com

The IMF says that state-issued digital currencies can re place cash, which is costly to distribute in island economies. While the adoption of central bank digital currencies (CBDCs) is nowhere close, they can eventually re place cash, which is “costly to distribute in island economies,” Kristalina Georgieva, managing director of the International Monetary Fund (IMF), said. At the Singapore Fintech Festival on Nov. 15, Georgieva addressed the potential of digital currencies to “offer resilience” in more advanced economies, saying that CBDCs can “improve financial inclusion where few hold bank accounts.” You might also like: US congressman pushes bill to shield privacy in CBDCs The IMF chief also mentioned Meta’s Libra project, saying it was a “wake-up call that turned out to be a false alarm.” Yet, despite Meta’s failure, other “more compliant” players will “come knocking,” Georgieva added...

The entertainment industry is diving into the Central Bank Digital Currencies (CBDCs) debate, with Joe Rogan and rapper Post Malone expressing their concerns. On the “Joe Rogan Experience” podcast, which boasts over 11 million listeners per episode, the two discussed CBDCs. .@JoeRogan Says ‘No F*cking Way’ to Central Bank Digital Currency: “That’s Game Over”@PostMalone asked @JoeRogan, “So how do you feel about the government’s digital currency that they’re working [on]?” Rogan answered, “No f*cking way. No way. That’s what I think. I think… pic.twitter.com/OvQ7Cw1o4E — The Vigilant Fox (@VigilantFox) August 8, 2023 Rogan described the idea as a “game over” for Americans, hinting at the potential for abuse of power and surveillance. He even speculated about a future where CBDCs could tie into social credit scores, enhancing government oversight. Post Malone shared these apprehensions, emphasizing the possibility of governments controlling individual...

Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC. Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community . While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for de central ization and personal control of assets, warns the community . The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued by Paxos Trust Co. — the firm behind Binance USD (BUSD). It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers. The launch has been seen as a boon for Ethereum adoption. Ethereum bulls Anthony Sassano and Ryan Sean Adams believe the ERC-20 stablecoin will push the blockchain closer towards becoming the money layer of the internet. This is the Ethereum contract address for PayPal's stablecoin....

peaking in Singapore, Agustín Carstens described a ledger that would accommodate a variety of public and private projects in discrete but connectable parts. General manager of the Bank for International Settlements Agustín Carstens spoke at the Singapore FinTech Festival on Feb. 22 and described the digital financial infrastructure he believes would best suit central bankers’ needs. He called that infrastructure a “unified ledger.” Carstens compared the theoretical unified ledger with a smartphone, saying they both work seamlessly with a variety of components. Unlike a smartphone, a unified ledger would have open architecture, however, and would show programmability and composability, that it, it would run and bundle smart contracts. There are over 2 million apps available to smartphone users , Carstens noted. He said: “A unified ledger is a digital infrastructure with the potential to combine the monetary system with other registries of real and financial claims.” A unified ledg...