Central Bank Digital Currencies, CBDC 2020
Government-issued cryptocurrency designed to replace the traditional, physical form of country’s national fiat currencies they are called central bank digital currencies CBDC`s. CBDC implementation is driving the biggest cryptocurrency exchanges to become the next best thing after the creation of internet banking.
In a highly advanced world of 2020, we are experiencing a notice of attention that cryptocurrencies bringing to our highly fast-moving business environment of economics. Overall, the solutions that were brought worldwide with blockchain technologies and smart contracts showed transparent value.
Market participants, especially so-called “smart money” have been facing decreasing confidence in US dollar due to unprecedented actions, which the Fed had to undertake for coping with a recession caused by the coronavirus pandemic. Fed has been flooding markets with dollars through a quantitative easing program and recently Fed Chairman Jerome Powell announced a shift in regulator’s approach to inflation targeting, letting inflation exceed a 2% target level. In plain language, this action means that Fed says: We are going to print more money, despite the threat of surging inflation rate. Lack of trust in dollars will push investors to scarce assets, like Gold and Bitcoin, in order to preserve the value on the background of the depreciating dollar.
The volatility moment is close and obvious. Crypto adaption of banks worldwide will bring value to Bitcoin and Gold. Capital markets will create value to US dollar index and the banks will acquire the next monetary policy.
The upcoming Bank adaptation of CBDC is going to unveil 24/7 transaction availability worldwide.A cryptocurrency exchange is a service that allows you to open a personal cryptocurrency multi-wallet on reliable platforms like Coinbase or Coinmama.