Potential threats in the implementation of digital currency

The CentralPotential threats in the implementation of digital currency Bank of the Bahamas said it will work in the next few years to make the central bank's digital currency (CBDC) payment function built into mobile phones or smart cards, and plans to build it into a more disaster resistant retail payment system to cope with the instability of banks and payment systems in the context of emergencies such as hurricanes and epidemics. The Central Bank of the Bahamas says its central bank digital currency, sanddollar, has the advantages of easy-to-use and contactless payment. Lianwen previously reported that in December last year, the Central Bank of the Bahamas began to pilot sand dollar on the island of exsuma, which will last until the first half of 2020. According to the Central Bank of the Bahamas, sanddollar is a digital version of fiat money and is not a competitor to cryptocurrency, stable currency or fiat currency. The digital currency is equivalent to paper money in all aspects. Residents can pay retailers through the QR code associated with their wallets, while banks transfer funds in digital form.

The International Monetary Fund (IMF) and the World Bank recently released a joint report to explore the impact of financial technology on the global economy and monetary system through feedback from 96 participating member countries. According to the report, the digital currency supported by the central bank may become a reality,

Facebook led Libra Libra's mission is to build a simple, borderless currency and financial infrastructure for billions of people, Reuters reported. They are striving to create a new decentralized blockchain, a low volatility cryptocurrency and a smart contract platform, in order to open up innovative opportunities for responsible financial services innovation. They believe that more people should have access to financial services and cheap capital, and that everyone has the inherent right to control the fruits of their legitimate labor. They believe that open, immediate and low-cost global currency flows will create great economic opportunities and business value for the world, and that people will increasingly trust decentralized management. The global monetary and financial infrastructure should be designed and managed as a public good. Everyone has a responsibility to help promote financial inclusion, support users who abide by Internet ethics, and continue to maintain the integrity of this ecosystem. Facebook Libra looks at more projects and may introduce digital currencies that anchor a single currency, rather than anchoring a basket of currencies as mentioned earlier. David Marcus, director of the Libra project, told a banking seminar that the main goal of the Libra project remains to create a more efficient payment system, but the project will be open to alternatives that support other currencies. Marcus said that in addition to having a synthetic token, we can also have a series of stable currencies, such as the US dollar, the euro and the pound. But Marcus said the digital currency anchored to a single currency was not their first choice. LianwPotential threats in the implementation of digital currencyen reported last week that Libra project officially signed the association's Charter and elected board members, although seven founding members had announced their withdrawal.

According to Zawya, an authoritative media in the Middle East and Reuters, khurram shroff, chairman of IBC group, headquartered in UAE, announced that the company will provide decentralized virtual machines and handle point-to-point contracts through its dedicated cryptocurrency, ether ether, in the upcoming distributed blockchain application platform of Ethereum.

Digital currency trading platform okexokex is one of the top digital asset trading platforms in the world. Okex platform gathers a large number of digital currency investors at home and abroad, with extremely strong liquidity and sustainability. Okcoin overseas version, bank level SSL encryption protection, real-time data, highPotential threats in the implementation of digital currency-speed trading, providing services for digital currency and futures. Through the open and win-win plan, okex is sharing its matchmaking system, counter system, cold wallet system, hot wallet system, capital clearing system, global multi language customer service capability, global customer identification and anti money laundering system to its partners, namely OK partners. The scheme has a very high entry threshold, with only 100 places open in the first phase. Only a team with 0.5 million KB is eligible to participate.

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