The Central Bank of the Bahamas has announced that its legal tender, sanddollar, is now available nationwide. Lianwen previously reported that the Central Bank of the Bahamas began to pilot sanddollar, a digital currency project linked to the Bahamas dollar, on December 27, 2019 in the island of exsuma. Sanddollar is a digital version of fiat money and is not a competitor to cryptocurrency, stable currency or fiat currency. In July this year, the Central Bank of the Bahamas sailyte digital currencyd that it would be committed to building the CBDC payment function of the central bank into mobile phones or smart cards in the next few years, and planned 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. In August, the Central Bank of the Bahamas included its digital currency, sanddollar, on its balance sheet in its annual financial statements. The central bank said it had put $48000 worth of sanddollar into circulation.
Facebook Libra looks at more issues related to cryptocurrency, such as whether legal digital currency and a small number of digital stable currency will coexist; exploring digital finance to better support the development of the real economy, we should develop diversified and all-round financial services; improve the regulatory framework of financial technology, develop regulatory technology, and how to bring technology giants into the macro prudential regulatory framework; We should strengthen the construction of digital financial infrastructure and strengthen international coordination and cooperation in the field of digital finance.
According to China Daily, Li Lihui, former president of the Bank of China and head of the blockchain research group of China Internet Finance Association, said that from the current pilot situation of digital RMB, some small-scale application scenarios have been verified and there are open cases. However, the pilot scope is still relatively small, involving a small number of people, and it may take some time to really expand the pilot scoplyte digital currencye. In the future, the pilot project of digital currency can be gradually promoted, with the premise that the underlying technology and system platform can meet the standard of stable operation, and the design of application scenarios can meet the needs of the public and have certain market competitiveness. Judging from the degree of progress, it is possible to further expand the pilot scope of digital currency within this year or early next year, but whether it can be extended to the whole country quickly still needs to be observed.
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It also needs strong trust. At the end of 2018, the main network of EOS was launched, and it was also very hot. It was tried, but it was difficult. In the first half of 2019, defi became hot. Driven by some decentralized transactions and loans, it turned from EOS to eth, and developed point-to-poilyte digital currencynt lending and fund pool lending. In 2019, more attention will be paid to the lending on Ethereum, focusing on the mortgage loan of large amount and mainstream counterfeit currency. Consider upgrading the interest rate model, numerical algorithm and innovation of stable currency, such as referring to the local exchange rate mechanism and using arbitrage mechanism to ensure the stability of stable currency. The field of profi is growing at a fast speed, but it accounts for only 1% and 2% of the market share of centralized transactions. The technology iteration speed is very fast, but the user use is a problem. With the security and continuous improvement of difi, there will be better development in the future. Chain news note: the summit jointly held by winkrypto, an industry integrated marketing service provider, bitland, f2pool, Shenma mining machinery and Shanghai Deyi, will deeply discuss with many senior mining, blockchain technology and finance practitioners to meet fengshui, imagine new infrastructure and new opportunities, and look forward to the trend of digital mining in the next decade. Live video can be viewed at.