Kiffmeister’s Fintech Daily Digest 06/30/2019

• Central bank plans to create digital currencies receive backing

  Global central banks may have to issue their own digital currencies sooner than expected, the general manager of the Bank for International Settlements has said, after Facebook recently unveiled plans to create its own stablecoin.

  tags: Fintech CryptoAssets AltCoins Stablecoins CBDC Facebook

• BIS to set up Innovation Hub for central banks

  The Board of the Bank for International Settlements has approved the establishment of a BIS Innovation Hub to foster international collaboration on innovative financial technology within the central banking community.

  tags: Fintech CentralBanking

• Bitcoin, The Dollar And Facebook’s Cryptocurrency: Price Volatility Versus Systemic Volatility

  Bitcoin has a systemic-stability, but not a price-stability, mechanism built into it. Bitcoin has a virtuous cycle that fiat currencies don’t have. As its price goes up, more hash power joins the network, the network’s security hardens, and it becomes more immune to attack – more systemically stable.

  tags: Fintech CryptoAssets Bitcoin Stability

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