Project gives away 14M tokens in digital universal basic income experiment

A nonprofit initiative that leverages decentralized finance as a means to offer a digital income for its users has announced that people have now claimed more than 14 million of its tokens. According to a Wednesday announcement, the universal basic income, or UBI, project from GoodDollar has reached more than 40,000 people from 180 countries since it launched in September. The project reported that more than half of the participants were claiming its reserve-based token, G$, every day. 14 million tokens have been claimed so far. The project mints its…

Bitcoin Is Becoming a Digital Gold Story: Mike Novogratz

Bitcoin has undergone a strong surge over the past few weeks, strongly outperforming gold. The price of the leading precious metal has actually dropped strongly over the past few weeks, underperforming the stock market and BTC massively. Many think that it is Bitcoin that may be sucking the wind out of the sails of gold. In fact, a JPMorgan report published two weeks ago found that the inflows into Bitcoin vehicles such as Grayscale BTC Trust (GBTC) are actually seeing more inflows as the flows into gold taper off. More…

Christian music chart-toppers join crypto arena with digital fan token

Veteran Christian vocal trio Selah launched its own cryptocurrency fan token via the Rally platform on Dec. 1. Followingthe group’s latest album debuting at number one on the iTunes Christian Music chart, the 3CR8 token will give fans access to exclusive benefits such as private messages, video chats and signed merchandise. Selah, meaning “pause” in Hebrew, is a true giant of the Christian music genre, notching up 4 million albums sold and 10 Gospel Music Association Dove Awards in over two decades of making music. Step Into My Story is…

European central bankers predict that the digital euro is at least five years away

Several experts from various European banks agreed that even a proof of concept for a digital euro is four or five years away. In a panel on Monday called “Upgrading Money to the Digital Age: Introducing Digital Euro,” participants agreed that the current task was primarily one of getting everyone onboard with the specifics of a digital euro, putting any real implementation well into the future.  Central bank digital currencies, or CBDCs, have been an extremely popular topic of debate in recent years, but especially since the beginning of the…

Former digital head at luxury brand group LVMH takes role at Ledger

The revolving door between traditional finance and the crypto space is well established. Now, executives from the luxury goods sector appear to be following in their steps. Ian Rogers, formerly the chief digital officer at LMVH, is taking on a new role as “chief experience officer” at Ledger, the well-known French crypto hardware and software maker. LMVH was formed in 1987 from the merger of high fashion house Louis Vuitton and Moët Hennessy, which itself formed from a merger of champagne maker Moët & Chandon and cognac producer Hennessey, back…

Galaxy Digital CEO recommends investing up to 3% of one’s net worth into Bitcoin

With the price of Bitcoin continuing to test support around $19,000, Galaxy Digital founder and CEO Mike Novogratz recommends HODLing until 2025. In a Yahoo Finance Live interview published on Wednesday, Novogratz said that the current Bitcoin (BTC) rally is being fueled by institutions and high-profile investors “slowly getting into the space.” He cited companies like PayPal and Square adopting crypto, as well as billionaire Stanley Druckenmiller recently suggesting the digital asset may pay out more than gold. “Bitcoin has become a macro asset to hedge against the debasement of…

A digital yen will make the crypto market ‘more lively,’ says Monex CEO

Earlier this fall, the Bank of Japan announced its plans to begin testing a central bank digital currency proof-of-concept in 2021. Further details of the institution’s approach to development and collaborations have since emerged, with indications that the private sector is poised to play a prime role, at least in the testing phase. Earlier today, Nov. 25, Reuters reported that the CEO of the Japanese financial services giant Monex Inc. is welcoming the central bank’s more proactive stance towards central bank digital currencies, or CBDCs. CEO Oki Matsumoto argued that…

Suzhou to launch digital yuan ‘red envelope’ trial for Double 12 event

The Chinese city of Suzhou will be the second to roll out a “red envelope” trial for the forthcoming digital yuan, according to a report in local media outlet The Paper. Following the successful pilot scheme run in the city of Shenzhen last month, insiders say that the Suzhou district of Xiangcheng will be launching the giveaway to coincide with the country’s Double 12 shopping event on Dec. 12. Many businesses in the district have reportedly already installed near-field communication QR codes in anticipation of the trial. The previous Shenzhen…

Ripple seeks director to engage with central banks on digital currency

Ripple, the payment services using digital currency XRP, is looking for an expert specializing in central bank digital currencies, or CBDCs. According to a recent job posting by Ripple, the firm is seeking a senior director of central bank engagements focusing on supporting CBDC initiatives with Ripple’s real-time gross settlement system, XRP Ledger.  With the new position, Ripple is looking to define its CBDC strategy with central banks, build relationships and projects, as well as educate global central bankers, the job posting notes. The position requires over 10 years of experience…

The US election seals China’s victory in digital currency supremacy

The world is engaging in financial warfare, and China is winning. China’s digital yuan — also referred to as Digital Currency Electronic Payment, or DCEP — will soon be used around the world. The People’s Bank of China is one of the most advanced central banks in the world. For that reason, it has been advancing on the digital currency front, while by all appearances, the United States Federal Reserve has not. And now that Donald Trump and his “America First” policy has been defeated — though counting remains ongoing…