Economy

  • Turkey’s New Economic Roadmap Calls for Central Bank Cryptocurrency

    An economic road map unveiled by the government of Turkey this week includes several items related to blockchain, including a bid to create a central bank digital currency based on the technology. The Eleventh Development Plan, published on the government’s official website, was  submitted to the Turkish Parliament on July 8, according to regional reports. It covers the period between 2019 and 2023, and is broadly intended to serve as a guiding point for improving Turkey’s economy. The wide-ranging plan covers an array of subjects, but notably states that a “blockchain-based digital central bank money will be implemented,” according to a translation. The document also indicates that legal and technology infrastructure will be fostered by the government in an effort to utilize blockchain for “transport and customs” purposes. Additionally, blockchain is mentioned as one of a number of new approaches, including artificial intelligence and connected devices — also known as the Internet of Things — that will be used to enhance public services. In this latter case, it’s not clear at this time how blockchain will be utilized. Few details of the…

    Jul 11, 2019
  • Market Outlook: Gold and Crypto Reap the Benefits of Economic Fear

    Cryptocurrencies have recovered from losses incurred a week ago, with many digital assets up 50-80% since July 2. For instance, eight days ago bitcoin core (BTC) tumbled to $9,650 and then back to a high of $13,150 yesterday evening. However, during the afternoon trading sessions on Wednesday, most of the top 20 cryptocurrencies have seen losses of between 5-20%. ‘The Slow Death of the Old Financial System’ Cryptocurrency markets have been volatile over the last few weeks. Still, it’s safe to say that crypto enthusiasts and traders have been more bullish in 2019. Since January 1, the price of bitcoin cash (BCH) has increased by 156% and the value of bitcoin core (BTC) has jumped by 205%. On Wednesday, July 10, both digital assets are down as BTC is under by 5.4% over the last 24 hours and BCH by 6.3%. Meanwhile, LTC is down 10%, XRP has lost 8.9%, and ETH has dropped 6.2% in the last 24 hours. Despite the corrections, most coins continue to show higher lows and the eventual return to regions touched on June 28. The digital asset economy’s latest run up follows the German-owned…

    Jul 11, 2019
  • Crypto Ambitions Rise in Cuba to Curb Economic Crisis

    The number of countries facing economic woes is rising dramatically. In order to mitigate the impact of inflation, nations are looking towards cryptocurrency as one possible solution and Cuba is the latest to turn to digital assets. Cuba Going Crypto As part of a series of measures to boost its economy the Cuban government said that it was looking into the use of cryptocurrencies. The move comes amid a deepening crisis exacerbated by US sanctions which appear to be spreading across the globe as president Trump deepens his economic embargoes. The island nation’s state run economy is crumbling due to a decline in Venezuelan aid, lower exports, and tightening of sanctions according to a Reuters report. President Miguel Diaz-Canel announced the measures on state-run TV this week which will also raise income for around a quarter of the population and deepen market reforms. Economy Minister Alejandro Gil Fernandez said: “We are studying the potential use of cryptocurrency … in our national and international commercial transactions, and we are working on that together with academics,” There were no further details or specifics…

    Jul 4, 2019
  • Blockchain Potential Unicorns in Winter

    A once hot industry is now more difficult to attract venture capital and it is using’ getting together ‘to keep the remaining temperature and warm each other.

    Mar 19, 2019
  • ?Can Crypto Assets Challenge Any Financial Framework?

    The new Chairman of the Financial Stability Board (FSB) believes that emergence of crypto assets is a challenge for us, which plans to review its current framework for assessing global financial vulnerability.

    Feb 13, 2019
  • 2019 World Economic Anxiety to Increase Bitcoin Demand, Price & Adoption

    The latest reports show that the year 2019 will see major financial anxiety.

    Jan 23, 2019

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