Brazils President Rebuffs Cryptocurrency as Administration Explores Blockchain

I dont what is, Jair Bolsonaro even as administration .
Source: cryptscout
Brazils President Rebuffs Cryptocurrency as Administration Explores Blockchain

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Brazil’s President Rebuffs Cryptocurrency as Administration Explores Blockchain

“I don’t know what Bitcoin is,” Brazilian as administration eyes .
: worldnewsoffice
Brazil’s President Rebuffs Cryptocurrency as Administration Explores Blockchain

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Brazilian President Rebuffs Cryptocurrency as His Administration Explores Blockchain

“I don’t what Bitcoin is,” Jair even as administration projects.
: coindesk
Brazilian President Rebuffs Cryptocurrency as His Administration Explores Blockchain

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Brazilian President Rebuffs Cryptocurrency as His Administration Explores Blockchain

“I don’t is,” Brazilian President Jair even as administration eyes projects.
Source: coindesk
Brazilian President Rebuffs Cryptocurrency as His Administration Explores Blockchain

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VP of Largest Brazilian Bank Local Banks to Soon Introduce Unique Blockchain Platform

n The vice of the revealed that are preparing to a platform on 12n
Source: cryptscout
VP of Largest Brazilian Bank Local Banks to Soon Introduce Unique Blockchain Platform

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VP of Largest Brazilian Bank Local Banks to Soon Introduce Unique Blockchain Platform

n The vice of the Brazilian revealed that banks are preparing to introduce a on 12n
: cryptscout
VP of Largest Brazilian Bank Local Banks to Soon Introduce Unique Blockchain Platform

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Deutsche Bundesbank President: CBDCs Will Destabilize Financial Systems

deutsche bundesbank president


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Jens Weidmann discusses central digital currencies and claimed that they have the potential to destabilize the financial systems around the world so we read more about in our latest cryptocurrency news today.

Weidmann noted a speech in Frankfurt, Germany, that the widespread use of central bank digital currencies will have ‘’serious consequences.’’

CBDCs are described as a more efficient and new way to offer the central another form of money. The potential use of the distributed ledger could bring the CBDC to operate without intermediaries and more accessible around the world. The Central bank governor of Lithuania Vasiliauskas described:

 “Some argue it could be run on a distributed ledger. In such a case, it would replace or complement reserves at the central bank with a restricted-access digital token. A token would be a bearer asset, meaning that during the transaction the sender would transfer value to the receiver, without intermediaries. This is something fundamentally different from the current system in which the central bank debits and credits the accounts without transferring actual values.”

The arguments by Vasiliauskas provided during a speech at the Washington Conference have little meaning to Weidmann. He warned against the CBDCs, saying that the demand for them will be much bigger or more volatile than for cash and this will have corresponding effects on the balance sheet of the central bank.

The Deutsche Bundesbank president stated:

 “I see ourselves [the Bundesbank] as having the duty to offer citizens modern, fast, and also internet-enabled means of payment. The idea is to develop solutions that are up to date with the latest technology without incurring unnecessary risks to financial stability.”

Also, as noted in the altcoin news, Weidmann shared opinions on technology calling it extremely expensive and slow. He also said that the trial project of the bank to integrate failed miserably. During that time he noted that the solutions not fare better in any possible pay. Reportedly, the process took a bit longer and the results brought up relatively high computational costs.

Weidmann also ridiculed blockchain saying that the technology is not a breakthrough and that he remains skeptical of the technology.

The post Deutsche Bundesbank President: CBDCs Will Destabilize Financial Systems appeared first on DC Forecasts – Leading Digital Currencies.


: dcforecasts
Deutsche Bundesbank President: CBDCs Will Destabilize Financial Systems

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Brazilian President Blames Bitcoin For Cancelling A Crypto Plan

brazilian president


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Jair blamed for the cancellation of an indigenous crypto project despite not really having an idea it is. He is now considering to implement a South American ‘’Euro’’ and we read more about it in the latest cryptocurrency news.

The $11.5 million crypto project aimed to create a cryptocurrency for use by the indigenous population which is still unbanked and suspended by the government. The Brazilian president is well known for attitude towards the indigenous Brazilians and he even promised to roll back in order to protect their lands saying:

‘’The Indians not speak our language, they not have money, they not have culture. They are native peoples. How did they manage to get 13% of the national territory?’’

When he was asked on the crypto project cancellation during the TV this week, the Brazilian president supported the move. He noted that the project ‘’wanted to teach the Indian how to use bitcoin’’ but he also stated that he doesn’t know what bitcoin is.

After the interview, he was briefed by an advisor on the nature of cryptocurrencies and he amended his statement that Bitcoin is a virtual currency. It is funny how the politicians don’t fully understand Bitcoin but still fear that it can undermine the monopoly that the state has over money and the financial policies.  For a number of reasons, we have now seen that the United States and India and now Brazil have spun the rhetoric of Bitcoin as the major force of evil.

As reported in the coming altcoin news, there is some more evidence of the ignorance of the Brazilian president towards crypto but towards the economy as well since the reports show that he is considering a single currency for the continent of South America. The main consideration is looking at a joint currency for Argentina with other counties in South America to join on a later date.

If the Euro project comes as a success across the Atlantic, it is mainly because some of the democracies and economies in the developed countries in the world are propping it up. If Portugal, Spain, Ireland, and Italy struggled despite the support of Germany and France, what can these countries expect?

The post Brazilian President Blames Bitcoin For Cancelling A Crypto Plan appeared first on DC Forecasts – Leading Digital Currencies.


: dcforecasts
Brazilian President Blames Bitcoin For Cancelling A Crypto Plan

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President of Brazil Jair Bolsonaro I Do Not Know What Bitcoin Is

n During an with Ratinho’s SBT , President stated that does not bitcoin
: cryptscout
President of Brazil Jair Bolsonaro I Do Not Know What Bitcoin Is

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President of Brazil Jair Bolsonaro: ‘I Do Not Know What Bitcoin Is’

an with Ratinho’s SBT , Brazilian stated that does not what bitcoin is


: cointelegraph
President of Brazil Jair Bolsonaro: ‘I Do Not Know What Bitcoin Is’

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