People’s Bank of China leader says Digital Currency ‘Inevitable’. After Facebook’s LIBRA the Central Bank of China now accellerates the Development of a Yuan based Digital Currency, according to CoinTelegraph.com. It is expected that the Central Bank of China will launch a Gold Asset Backed Digital Database Currency in 2020/2021.
Maybe one of Harmonychain Client’s Commodity Asset Backed Digital Currencies will beat the Central Bank of China and become the First Private Issuer of Commodity Asset Backed future of money, like the US$ that was physically gold backed until 1972.
While Tether is likely the best-known stablecoin, it’s certainly not the strongest initiative. Canamex Gold Corp. recently launched a gold stablecoin. The tokens, coined GOLDUSA, are worth 0.005 ounces of gold each.
Journalist Zane Huffman
Facebook LIBRA Stablecoin is “Google Internet” moment of Distributed Databases & CHINA’s Central Bank is also launching a Yuan linked stablecoin.
The Facebook Database Token Libra is attracting the interest of the major payment companies globally. This is the “Google” maturity moment of the Database Industry, the moment that the Database technology platform (Google for Internet, Trusted Stablecoins for Databases) matures from being useful to IT Enthusiasts, to being useful for Everyone in Society.
First Commodity Asset Backed Digital Currency Security in Compliance with Regulation from Stock Exchange Listed Company
Very exciting news to finally see a Stock Exchange LISTED company actually launching Asset Backed Digital Currency.
Token EOS raised US$ 4 billion
And competitor Telegram raised over US$ 1 billion during the spring of 2018. Facebook also plan a token that has Billion $ stable coin potential.
At Nasdaq, the future will likely include digital currencies.
The chairman of Australia’s biggest stock exchange is bullish about database technology replacing its existing post-trade settlement solution.
ASX has invested over AUD$15 million for sub 10% equity stake in New York-based database startup Digital Asset.
Banks admits Digital Database Currency is just competition: J.P Morgan Sees Crypto As ‘Competition’ And ‘Risk’ To Its Business In SEC Annual Report
Banks are allways talking their own book. Banks are afraid of competition. Banks know banks are expensive and pose systemic risk as banks sometimes banktrupt to the dismay of depositors and transfer customers.
Cointelegraph reports that the world’s largest investment company BlackRock has continued its bullish forecast for cryptocurrency, saying it sees “wider use” in the future in its weekly commentary report recently.
“Our bottom line: We see cryptocurrencies potentially becoming more widely used in the future as the markets mature,” the report determined.
Bloomberg reports that Yale University, the Ivy League school, is getting into the market for cryptocurrencies.