Fiat currency backed Stablecoins as well as commercial bank digital money is NOT the future of the cryptocurrency revolution – Calvin • Farel’s upcoming gold backed cryptocurrency ‘Seed’ provides an alternative solution

As the world of decentralized finance (Defi) continues to grow, there is in our opinion much demand for a stable, transparent and less volatile digital currency fit for use in blockchain-based applications with near–real–time, peer-to-peer global settlement that can be used as a medium of exchange. However, most currently available cryptocurrencies are far too...

The Web3 movement has yet to take off

If the tech movement known as Web3 represents the internet’s next big gold mine, then why aren't we hearing more about the truly useful applications that will be built on this new platform. And why aren't more developers flocking to it to make their fortunes? Those questions hang in our opinion uncomfortably over...

El Salvador Adopting Bitcoin as Legal Tender

Is it cool to adopt a cryptocurrency as a legal tender? El Salvador thinks so. This month, the small Central American nation became the first in the world to adopt Bitcoin as an official currency. Taxes may be paid in the cryptocurrency and merchants must accept it alongside the US dollar, the national currency since...

Digital Currency Is on Its way to Revolutionize Finance Cartels

This month the central banks of Australia, Malaysia, Singapore, and South Africa have started a new experiment: building a cross-border central bank digital currency system called “Project Dunbar”, under the auspices of the Bank for International Settlements (BIS). The idea is to let institutions in those countries use cryptocurrency and distributed Ledger technology (DCT) to...

Let’s Take Bitcoin as a Short Case Study for Cryptocurrencies!

Bitcoin's price is bouncing around 50,000 US-Dollar giving it an aggregate value of about 1 trillion US-Dollar. The digital currency is increasingly part of the modern financial landscape. The venerable BNY Mellon in now handling Bitcoin, MasterCard is integrating it into its US payments systems and Tesla bought 1.5 billion Dollar of Bitcoin for...

America’s Cryptocurrency Market is in Limbo

Investors in Bitcoin and other cryptocurrencies have enjoyed a phenomenal run but they are now worried that Janet Yellen's arrival as US Treasury secretary may herald a new era of hostility from regulators and central banks towards what boosters call “libertarian” forms of digital money. In her last press conference as chair of the...

European banks need to focus on cost-cuts rather than cross-border transactions

The calls for cross-border European banking transactions are mounting again. Not for the first time, we are being told that consolidation of international banking groups will “fix” the problems faced by the industry, this time those caused by the pandemic. Over the years, various transaction combinations of UniCredit, Société Générale or Commerzbank have been touted,...

EU centralizes market oversight in targeting ‘stable coins’

The EU has embarked on a push for greater centralized supervision of financial markets, setting out an oversight regime for crypto assets and pledging to learn from the German Wirecard scandal. The European Commission last month proposed a regulatory system for so-called stablecoins, such as the Facebook-backed Libra initiative, and other cryptocurrencies, saying that the...

India is getting prepared on cracking Cryptos

Confidence in the Indian financial system has been breaking down for some time. Instead of trying to restore trust, it may be time to require less of it – with the help of an official rupee cryptocurrency. The last straw was the collapse of corporate lender Yes Bank Ltd., which failed in slow motion in...