The central bank of China has been purportedly been developing its own cryptocurrency in response to the impending release of Facebook’s Libra which they view pose a risk to the country’s financial system.
The director of the People’s Bank of China (PBoC) research bureau, Wang Xin, argues that if libra is widely used for payments it would be able to function like money and will have large influence on monetary policy, financial stability and the international monetary system.
While Facebook has been trying to address concerns of centralization on its soon-to-be released blockchain/cryptocurrencies by creating an independent association based in Switzerland that would oversee the development and governance, this did not quell concerns the significant amount of influence the social media company would have on the initiative.
Nonetheless, Facebook’s initiative has been both a boon and bane for the cryptocurrency community has it has served as a magnet to both positive and negative attention into the nascent industry.
Headlines for the world of Cryptocurrencies - July 08, 2019
- Biki.com One Of Forbes’ Top 10 Blockchain Companies In 2019
- Changes in Ether Reference Rate And Index Points To New Futures Product At CME
- Kumex Kucoin’s Bitcoin Derivative Trading Platform
- Changes in Ether Reference Rate And Index Points To New Futures Product At CME
- Deutsche Bank Retrenches 18,000 Jobs
Headlines for the world of Cryptocurrencies - July 07, 2019
- Donations For Wikileaks Reaches $46 Million in BTC
- Tron Grows To 500 Dapps And 700K Users
- Bitcoin Collectible Listed For $99,000 On eBay
- New All-Time High Bitcoin Network Usage
- Bitcoin Critic Hopes To Collect 1 Bitcoin
Headlines for the world of Cryptocurrencies - July 06, 2019
- New Canadian Crypto Exchange With Huge Referrals Rewards
- Increasing Institutional Investments Set Future Growth Of Cryptocurrencies
- SEC Searching For Blockchain Data Provider To Monitor Risk
- Traveling To 10 Countries Using Only Cryptocurrency
- Dogecoin Now Listed In Binance
