Kiffmeister’s Fintech Daily Digest (04/21/2020)

The PBOC confirms its CBDC pilot plans
The People’s Bank of China has confirmed that it aims to roll out internal tests for the national digital currency (DECP) in Shenzhen, Suzhou, Xiong’An and Chengdu. The same four cities were named on a registration page for the test application. PBoC did not give a clear schedule for the projects. However, the bank said it plans to run another internal test during the Winter Olympic Games hosted in Beijing in 2022.

DNB: Digital currency issued by central banks can protect public interests in payment systems
The Dutch central bank (DNB) said it would like to experiment with a digital currency issued by itself and other European central banks, as the use of cash rapidly diminishes.

World Fintech Report 2020: “Traditional banks are at a critical juncture
The European Financial Management Association and Capgemini World Fintech Report 2020 reveals a wide gap between what customers expect and what traditional banks currently deliver. It notes that data-fuelled and hyper-personalised experiences in real-time have led Big Techs and challenger banks to demonstrate their ability to win customers over.

Assessing the Long-Term Fallout from Crypto’s Black Thursday
Since the March 12 crypto crash there has been a reshuffling of the top futures marketplaces for crypto assets with BitMEX losing some of its market share to Binance. This may have an on-going impact across crypto markets, especially considering BitMEX’s outsized influence on price discovery. Only time will tell if BitMEX is able to recover the lost market share, or if the marketplace is undergoing a true changing of the guard.

N26 battens down the hatches
German digital bank N26 is preparing for the worst downturn in its seven-year history, cutting back on advertising spending, furloughing a tenth of its staff and reassessing the timing of its plan to launch in Brazil. The moves are designed to shield Berlin-based N26 from the coronavirus crisis, which threatens to be the toughest test for many of the fintech start-ups that sprung up after the 2008 financial crisis, seeking to challenge the traditional banking industry.

A Framework for Exploring Blockchain Technology in Supply Chain Management
The purpose of the study is to identify and explore different applications of blockchain technology in supply chain management and suggest a framework for their analysis. The study addresses researchers’ conflicting opinions regarding the hype of blockchain and clarifies which minor applications are hyped and which are currently more applicable.

Synthetix Is Already Tokenizing Real World Markets Through DeFi
Synthetix offers its own stablecoin, sUSD, but it also expands the concept into many other types of assets and tokens. For example, it offers “inverse” tokens which can be used to short-sell a crypto asset.

Bitnomial gets nod from CFTC to launch Bitcoin derivatives exchange
The CFTC has approved Bitnomial’s application for a bitcoin derivatives exchange. Initial products will be Bitcoin futures, mini Bitcoin futures, and Bitcoin options. All contracts will be physically settled in Bitcoin.

Futureswap: 20x Leverage on Ethereum
Futureswap is a decentralized exchange that allows traders to enter into perpetual futures with up to 20x leverage while liquidity providers can earn fees and interest. The platform is governed by the community, which is powered by an underlying governance (FST) token that allows anyone to propose new exchanges or changes in the system.

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