If FTX reimburses investors who lost their assets when the crypto exchange collapsed, it may offer the chance of a new start for the sector.
Bank of Canada Governor Tiff Macklem is seen during a news conference following an interest rate announcement in October 2023 in Ottawa.
THE CANADIAN PRESS/Adrian Wyld
Recent Bank of Canada findings that showed Canadians have misgivings about a central bank digital currency should serve as a wake-up call that policymakers must do more to bridge the trust deficit.
To encourage the widespread use of eNaira, Nigeria will have to fix its infrastructure, train financial services staff and ensure data privacy for users.
The Bank of Canada recently concluded public consultations where it sought input from Canadians about the possibility of a national digital currency.
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While a digital national currency does have the potential to mitigate key financial issues, we cannot ignore the democratic risks such a currency could introduce without safeguards.
China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency.
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Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
EU consumers are familiar making payments with traditional coins and bills, but soon they could be joined by an ‘e-euro".
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Central banks are now taking digital currencies seriously, and the EU is exploring the idea. While an “e-euro” could increase monetary security and stability, the venture is not without risks.
Cash is still king in Nigeria.
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Cryptocurrency has a substantial carbon footprint. Ethereum have taken steps to address this, but will others follow suit?
Crypto trading platforms Celsius and Voyager filed for bankruptcy in July 2022, suspending all withdrawals, swaps and transfers between accounts and leaving users’ assets trapped inside their platforms.
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Because cryptocurrency exchange platforms act more like banks, they should be subject to increased oversight to protect clients’ assets.
Global central banks, like the Bank of Canada, are considering their own digital currencies as a backstop to prepare for a future where cryptocurrency dethrones cash as king.
THE CANADIAN PRESS/Adrian Wyld
Central banks worldwide are racing to implement national digital currencies, yet democratic considerations are hardly discussed in public. This has to change.
Banking on bitcoin: El Salvador announced plans to build a Bitcoin City in November 2021.
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There’s no indication that handling cash increases your chance of catching COVID-19. But that hasn’t stopped countries around the world from looking at digital currencies.
Blockchain technology is familiar to us in the form of digital currency bitcoin. And if it makes it way to the mainstream, could it change the way the world does business forever?