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Essential Videos
CBDCs vs. Cryptocurrencies https://youtu.be/_ErRWQWPs8Q
Kakao Klaytn Cryptocurrency https://youtu.be/X3vbC60Mkjw
Latest Ethereum Updates https://youtu.be/lANUSdHg2oc
Fiat Ponzi Scheme https://youtu.be/L_f6R0DHNH0
Algorand Explained https://youtu.be/7NdjivxrDoc
China Crypto Crackdown https://youtu.be/iaY6MmU0C3A
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- TIMESTAMPS -
0:00 Intro
1:39 What Are CBDCs?
4:55 Turkey
5:29 Ukraine
6:28 South Korea
7:55 Israel
9:12 Europe (Euro Zone)
10:35 United States
12:33 China
14:18 Conclusion
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️ Useful Links ️
► PriceWaterhouseCoopers CBDC Report: https://www.pwc.com/gx/en/industries/financial-services/assets/pwc-cbdc-...
► Bison Trails CBDC Report: https://bisontrails.co/cbdc-intro/
► Turkey Tests Digital Lira: https://cointelegraph.com/news/amid-inflation-woes-turkey-announces-cbdc...
► Ukraine And Stellar: https://cointelegraph.com/news/ukraine-taps-stellar-to-develop-digital-a...
► Consensys And Klaytn For South Korea: https://cointelegraph.com/news/consensys-to-develop-private-version-of-k...
► Israel And Ethereum: https://cointelegraph.com/news/bank-of-israel-steps-up-cbdc-efforts-with...
► European Union And Ethereum: https://cointelegraph.com/news/100m-euro-digital-bond-was-a-cbdc-test-sa...
► FED To Test Digital Currency: https://www.cnbc.com/2021/05/20/the-fed-this-summer-will-take-another-st...
► How China’s Digital Yuan Works: https://www.reuters.com/article/us-china-currency-digital-explainer-idUS...
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What Are CBDCs?
CBDC is short for central bank digital currency, or as I like to call it, the ultimate shitcoin. This is because CBDCs are just digital fiat currencies that are issued and controlled by a country’s central bank
Turkey
Turkey has been planning a digital Lira since 2019, and they should have begun testing their CBDC in the first half of this year. However, no news has come out about that yet. It is also not known which blockchain Turkey will choose for its CBDC.
Ukraine & Stellar
The Ukranian government announced earlier this year that it had partnered with the Stellar Foundation to develop their CBDC, though it appears they will not be deploying it on Stellar’s public blockchain
South Korea & Klaytn
The Bank of Korea recently announced that they’re officially looking for a tech company to help them test their CBDC this summer
The prime candidate seems to be Klaytn, an enterprise-oriented clone of Ethereum that recently teamed up with Consensys to create a permissioned version of their blockchain for South Korea’s CBDC trials
Israel & Ethereum
In May this year the Bank of Israel suddenly revealed its definitive plans to issue a CBDC. It only took a month for them to begin testing their tech, and it seems like they’ve chosen Ethereum as their blockchain of choice
Europe & Ethereum
The European Union is also looking to develop a digital Euro. This is a recent development given that the European Central Bank only jumped on the CBDC bandwagon late last fall
It seems that Europe’s Central Bank has been taking notes of CBDC developments elsewhere, because they’ve already begun testing their CBDC technology on Ethereum, at least according to French officials
United States & Algorand
Early 2020 is when the FED really started to put CBDCs on their list of priorities. Multiple digital dollar pilots are already underway by private companies
The real question is which cryptocurrency blockchain the United States could tap for its CBDC, and the evidence points to Algorand
China
China’s own motivation for creating a digital yuan stems from the dominance of the tech giants within its own country which have effectively taken over the payments industry
According to Reuters, China’s digital yuan does not use a blockchain, which begs the question of whether it counts as a central bank digital currency
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Crypto #CBDC #Cardano #Ethereum #Stellar #ECB #FED
