Tag: national digital currency

Prompted by the decline in cash usage, Norges Bank, a central financial institution of Norway, is looking forward to developing its own cryptocurrency. As per Norges Bank’s recent report, dubbed the “Central Bank Digital Currency”(CBDC), plans to act as an alternative to fiat currency to “ensure confidence in money and monetary system.” Other central banks are also analyzing the possibility…

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Sometimes, life truly does imitate art, just like Oscar Wilde opined. In something that is eerily straight out of the hit Netflix show, Black Mirror, China is set to ban citizens with bad social credit scores from airplanes, trains and other forms of public transportation for up to a year. Something of the sort happened in the third season of…

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Despite tremendous progress in economic globalization, the global financial system is still very fragmented, with only a few players having an invitation to sit at the table with the big boys. It is evident that blockchain has clear potential to consolidate and, perhaps, even standardize financial markets all over the world. Various private enterprises and regulators have already started the…

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China’s banks have loaded up on debt for years to fuel their expansions. However, China’s indebted banks are now starting to threaten China’s economic growth outlook. A heavily-indebted banking sector was one of the reasons why China has appointed a new head of banking regulations, named Guo Shuqing, who has been introducing a broad range of new regulatory directives to…

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