Blockchain Bites: Why UN and Federal Reserve Experts Think CBDCs Could Kill Commercial Banking

Publicado en by Coindesk | Publicado en

Jun 5, 2020 at 16:34 UTC.The Federal Reserve Bank of Philadelphia in Philadelphia, PA.U.N. and Federal Reserve experts independently researched central bank digital currencies and found they could effectively compete with the commercial banking system.

New York State and France have entered into a regulatory agreement and Europol is concerned about the bitcoin privacy wallet Wasabi.

You're reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they're significant.

Demise of Banking?In a new research paper, the Federal Reserve of Philadelphia investigated the implications of an account-based CBDCs, focusing on its potential competition with the traditional maturity transformation role of commercial banks, and found it could one day replace commercial banks.

Exchanges: Hacks & New AllegationsA German crypto trader is trying to seize nearly 500 bitcoin from Xapo and Indodax through a new lawsuit that accuses the two crypto exchanges of harboring his stolen funds.

Bitcoin Is a Way to Repair Economic Injustice: Author Isaiah JacksonIsaiah Jackson, founder of KRBE Digital Assets Group and the author of Bitcoin & Black America, thinks that bitcoin can play a crucial role in addressing economic disparity in black communities.

While there are no immediate technological solutions to solving America's economic and social problems, highlighted by George Floyd's murder, bitcoin can make disadvantaged communities more resilient and weaken the existing hegemony.

The Known UnknownSince late April, bitcoin has traded in a range between roughly $8,500 and $10,200.

A glance at bitcoin's price chart since early 2017 shows how far off bitcoin remains from that $20,000 threshold.

In the volatile bitcoin market, it's hard to rule anything out.

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