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Monetary authorities around the world are rushing to design digital currencies, and many are asking: Who knows how to do this?
Some of the first governments to go digital have found an answer in cryptocurrency enthusiasts. For these rebels against traditional approaches to finance, the digital trend presents an opportunity to create virtual money for a whole nation.
Israeli crypto consultant Barak Ben-Ezer had never visited the Marshall Islands before 2018 when he flew halfway around the world to propose that the Pacific Ocean archipelago adopt a national currency he designed in the likeness of bitcoin.
How Singapore and Cambodia see digital currencies for cross-border use
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Cambodia s Digital Currency Signals Future of Finance
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You canât talk about blockchain and not bring up CBDCs and stablecoins Economies are currently experiencing the development of brand new ideas around CBDCs, stablecoins or private digital currencies. 2169 Total views Opinion
Ever since the publication of Satoshi Nakamotoâs white paper back in November 2008, âBitcoin: A Peer-to-Peer Electronic Cash System,â the term âblockchainâ has been synonymous with digital currencies in the sense of the underlying technology that allows for the transfer of value, peer-to-peer.Â
Whatâs interesting is that the term âblockchainâ is not used once in that white paper. The purpose of the paper was to propose a solution to the core issue of double-spending a digital currency, which is the representation of a transfer of value directly between transacting parties, without the use of a central trusted third party.