Crypto-Technicals: BTC/USD Forms Double Top Pattern, 100-DMA Acts As Neckline Support Ahead of CME F&O Expiry Season
Cryptocurrency Derivatives Series: Bitcoin Reclaims $10k, Uphold Long Hedges As CME Data And Engulfing Pattern Indicate Uptrend Continuation
Cryptocurrency Derivatives Series: Bitcoin Disrupts Double Top Formation & Rebounded To 9.5k – Uphold Long Hedges
FxWirePro: Bullish/Bearish Driving Forces of EUR/CAD, OTC Indications And Hedging Strategies Ahead of ECB & BOC
Cryptocurrency Derivatives Series: Spotlight On FxWirePro’s BTC Long Hedges As Bitcoin On Verge Of $10k Trajectory Ahead Of Block-Halving
Digital Currency Revolution Series: Argentina Soccer Federation Unveils Native-Crypto To Assist Esports Venture
Digital Currency Revolution Series: Bank of France Successfully Pilots Blockchain-Driven Digital Euro
Digital Currency Revolution Series: Goldman Sachs Exhibits Reluctance In Bitcoin For Asset Portfolio
Cryptocurrency Series: BTC Long Hedges Productive As Bitcoin Bulls Staged For 8th Consecutive Weeks’ Rallies
Digital Currency Revolution Series: Inference of BitMEX Research on CBDC
With sovereign governments and their central banks across the globe have been exploring the essence and the opportunities of CBDC (Central Bank Digital Currency) foreseeing a swift transformation phase in the prevailing finance system.
Here are the major ideas of Central Bank Digital Currency (CBDC) that have two distinctive approaches:
1) Enabling retail clients to have deposits directly with the central bank, and, 2) Prohibition of liquid cash. It is inferred that both of them have quite unique economic characters, even though the two policies complement each other in some ways. The former would cause contraction in credit, and the latter helps in enhancing the credit expansion.
Recently, Bank of Japan (BoJ) executive Masayoshi Amamiya hints that the Japanese central bank is planningfor digital currency eyeing on mounting demand. Although Amamiya promotes BoJ’s CBDC plans that seems to be eventual requirement, BoJ is unlikely to develop a CBDC immediately, as per the reports of Reuters.
However, the advanced era of FinTech has come up with the new trends and inventions, such as, Smart contracts & DeFi which seem to be lucrative prospects. CBDC and Stable coins are also no exception but most likely to hit the financial avenue by endorsing luring use cases of digital experience that enables flexibility, controllability of the financial as well as real assets, efficient trade finance & loans business and offer interest-bearing contracts etc.
From the outlook of this research report, it seems that owing to the deflationary circumstance of allowing the public to hold electronic deposits at their central bank, it is reckoned that the financial regulators are unlikely to come up with the CBDC concepts to succeed in any meaningful way.