CBDCs are sometimes viewed as synonymous to, or as replacements for, digital currencies like Bitcoin, but according to Grayscale Investments they represent a meaningful departure from the decentralized protocols inherent to many cryptocurrencies. CBDCs attempt to upgrade payment infrastructure while Bitcoin is an attempt to upgrade money. If CBDCs gain traction, they may actually bolster the value proposition for Bitcoin and other digital currencies.
Coronavirus: Case for Digital Money?
This paper discusses the pros of adopting government-issued digital currencies as well as a supranational digital iCurrency. One such pro is to get rid of paper money (and coinage), a ubiquitous medium for spreading germs, as highlighted by the recent coronavirus outbreak. It sets forth three policy recommendations for adapting mobile devices as new digital wallets, regulatory oversight of sovereign digital currencies and user data protection, and a supranational digital iCurrency for facilitating international digital monetary linkages.
How Are Cryptocurrencies Classified In GAAP Financials?
In the absence of crypto-specific rules from the U.S. Financial Accounting Standards Board, a working group formed by the American Institute of Certified Public Accountants has published a Digital Asset Practitioner Guide addressing how to classify cryptocurrencies in financial statements, specifically, on the balance sheet.
Crypto hedge funds struggle to recover from ‘bloodbath’
Price discrepancies between the same assets on different exchanges, which have long been arbitraged away in stock and bond markets but still exist in crypto, also offer traders a way to make money. But achieving those returns has often proved a bumpy ride for hedge fund investors. A 39 per cent drop in the price of bitcoin on March 12 caught many funds by surprise, leading to large losses and some fund closures, particularly among those running high levels of risk.
The Atrium – A UN Blockchain Platform designed by the UN, for the UN
The Atrium, a United Nations (UN) inter-agency blockchain platform designed to boost collaboration and accelerate blockchain innovation launched the Practical Guide to Blockchain. The Atrium is a UN-only platform that provides the foundational blockchain underlayer that will enable members to build their own blockchain-based apps.
This stablecoin lets you invest in the entire cryptocurrency market
This fall digital asset management firm Cryptex will launch TCAP, a decentralized stablecoin that’s pegged to the entire crypto market.
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