• digital dollar private sector powell
    Cryptocurrencies,  Politics,  Regulation,  Technology

    Building digital dollar requires private sector’s help: Fed Chairman

    Jerome Powell told an international financial conference that ‘the private sector has the experience and expertise’ needed to help build digital currencies

    The chairman of the Federal Reserve said today that the U.S. government will have to work with private firms to improve the way money is moved around the world. Speaking via video at a Bank for International Settlement (BIS) conference in Basel, Switzerland on March 18, Jerome Powell acknowledged that the current system of cross-border payments needs to be improved and digitalized. He said: “The COVID crisis as brought into even sharper focus the need to address the limitations of our current arrangements for cross-border payments.” It has, he said, “shined a light on the less efficient areas of our current payment system and accelerated the desire for improvement and digitalization.” A key…

  • visa spend crypto 70 million merchants
    Bitcoin,  Technology

    Visa CEO: We’ll let you spend crypto at 70 million merchants

    Al Kelly said Visa wants to be an intermediary between crypto holders and merchants—the role Satoshi Nakamoto sought to eliminate with Bitcoin

    “We’re trying to do two things,” Kelly said. “One is to enable the purchase of bitcoin on Visa credentials.” The second, he added, is “working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency” that can be immediately “used at any of the 70 million places around the world where Visa is accepted.”

  • beeple everyday $70M Christie's
    Cryptocurrencies,  Technology

    Beeple’s NFT collage EVERYDAYS sells for nearly $70M at Christie’s

    Digital artist Mike Winkelmann’s art is now more valuable than the likes of Eugene Delacroix, Marcel Duchamp and Francisco Goya

    Just having a non-fungible token work on sale at one of the world’s oldest and most prestigious auction houses was a major coup for the crypto-based artform. The work, “EVERYDAYS: THE FIRST 5000 DAYS” was described by Christie’s as Beeple’s “monumental digital collage,” of images of an artwork he posted every day since May 1, 2017.

  • Bitcoin Banknotes
    Cryptocurrencies,  Technology

    Bitcoin Banknotes take cryptocurrency back to its fiat roots

    Former Bitcoin Foundation Chairman Peter Vessenes’ new banknotes will ‘look and feel like top-of-the-line currency while providing the coveted security of blockchain technology’

    Bitcoin kept in a hardware wallet is arguably safer—harder to steal—and does not require trust in a third-party custodian keeping the Bitcoin when compared to a banknote in a safety deposit box. Still, Felix claims that a banknote would not only be more accessible, but also trustworthy