Happy Monday, Blockfolians
Lots of news on the central bank digital currency front to kick off the week.
First, news out of China about their digital yuan trials. A People’s Bank of China Governor said that trials across four cities had seen 4 million transactions, with a total value of approximately $300m worth of digital yuan. Much farther, obviously, than the initial trials and research we’re seeing elsewhere.
In Europe, Christine Lagarde posted to Twitter about a digital euro - asking for public comment. Travis from Ikigai put the significance of this quite well.
Christine Lagarde @LagardeWe’ve started exploring the possibility of launching a digital euro. As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed. I’m also keen to hear your views on it https://t.co/0ZuU2ZZgCp https://t.co/CoY5sN7Yoz
CBDCs are a major discussion brewing. With lockdowns returning to Europe and COVID-19 cases rising in the US, expect even more of this conversation in the months to come.
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Highly Relevant Reading
Huobi denies rumors that a senior executive was arrested
Bitcoin miners see 8% revenue increase in October
A new liquidity marketplace atop the Lightning Network
Australia’s central bank working with ConsenSys and others on wholesale CBDC
Couldn’t have put it better, ourselves.
*Walter Bloomberg @DeItaoneIMF'S CHIEF ECONOMIST GITA GOPINATH SAYS GLOBAL LIQUIDITY TRAP REQUIRES A BIG FISCAL RESPONSE - FT
Interesting distinction and a cool new project!
A Really Big Number We Should Be Paying Attention To
That’s the decrease in decentralized exchange volume Sept-October - a byproduct of the larger cooling in the market.