#CryptoCorner: France’s Central Bank Considering CBDC, US Treasury Secretary Mnuchin Says US Has No CBDC Plans, Microsoft (NasdaqGS: $MSFT) Teams with Enjin for “Azure Heroes”
#CryptoCorner: France’s Central Bank Considering CBDC, US
Treasury Secretary Mnuchin Says US Has No CBDC Plans, Microsoft (NasdaqGS: $MSFT)
Teams with Enjin for “Azure Heroes”
Socios Partners
with Juventus (OTC: $JVTSF) For Team Token
Point Roberts, WA, Delta BC December 6,
2019 - Investorideas.com, a leader in
crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
what’s driving the cryptocurrency market .
Listen
to today’s Crypto Corner Podcast:
Stocks discussed: (NasdaqGS:FB) (NasdaqGS:MSFT)
(OTC:JVTSF)
A
recently-published speech from French
central bank governor François Villeroy de Galhau, reveals that the Banque de
France is considering the launch of a central bank digital currency (CBDC).
Villeroy de Galhau explained that developments in the private sector for
payments technologies provided the impetus for such a project:
“…we as central banks must and want to take up this
call for innovation at a time when private initiatives especially payments
between financial players and technologies are accelerating, and public and
political demand is increasing. Other countries have paved the way; it is now
up to us to play our part, both ambitiously and methodically.”
Specifically,
Villeroy de Galhau indicated that a CBDC would give the Banque de France a sort
of bulwark against initiatives like Facebook’s (NasdaqGS:FB) Libra project.
“…creating a CBDC would give us a powerful lever with
which to assert our sovereignty in the face of private-sector initiatives such
as Libra. This is also one of the concerns highlighted by the People’s Bank of
China with its Digital Currency Electronic Payment (DCEP) project.”
Conversely, Bloomberg reports U.S.
Treasury Secretary Steve Mnuchin explained at a House Financial Services
Committee hearing in Washington that the U.S. had no plans to create a CBDC
anytime soon.
“…in the near future, in the next five years, we see no
need for the Fed to issue a digital currency.”
He went on to
express tolerance to Facebook’s Libra, so long as it abides by the relevant
regulations.
“I’m fine if Facebook wants to create a digital
currency, but they need to be fully compliant. In no way can this be used for
terrorist financing.”
Microsoft (NasdaqGS:MSFT) has partnered with blockchain
gaming company Enjin to create the Azure Heroes awards program. According to
the website, “Azure Heroes aims to reward individuals for verifiable acts of
impact such as coaching, creating demos, building sample code, blogging about
Azure or completing certain challenges.” Participants earn digital badgers for
contributions they make to the community. In the wake of this announcement, the
Enjin Coin (ENJ) has nearly doubled in trading price and market cap, according
to data from CoinMarketCap.
CCN reports that
blockchain company Socios has partnered with Turin, Italy-based football club
Juventus (OTC:JVTSF) to launch a fan
token $JUV. The project aims to encourage fan engagement, as the token allows
“fans ‘voting rights’ on club decisions”.
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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