Daily market commentary from 20.11.2020

An overview of what is happening in the crypto markets, summarised daily by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.

Market commentary

Good Morning!

And another nation is pushing forward on their national CBDC project: Japan (see here).

The path ahead is clear: it is not a question of “if” but “when” CBDC will take over most payment transactions. I can understand why some countries’ CBDC projects are moving along a bit slower: due to seeing no immediate efficiency gains and/or being hesitant due to the uncertainty of if a “global” standard will be established.

The right approach

In terms of the second “global” standard point: I think that China and Japan have the right approach. They are making sure to have a robust base layer (private blockchain) that has the ability to interact with and build additional layers of different kinds of technologies/systems and concepts. Here is a comment from Hiromi Yamaoka:

“We don’t want to create another silo-type platform. What we want to do is to create a framework that can make various platforms mutually compatible.” – Hiromi Yamaoka, Board Director at Future Corp.

China is following the same concept with their BSN (Blockchain Service Network).

I wonder when Europe and the US of A will step up and enter the game with some concrete plans.

Copyright © 2020 | Crypto Broker AG | All rights reserved.

All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.

Disclaimer

This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment  advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.

Risk disclosure

Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.

Share.

About the author

Patrick Heusser

Patrick Heusser is a Senior Trader at Crypto Broker AG. Prior to joining the company, Patrick worked as an Interest Rate Trader at UBS and held various positions in the IRCC (interest rate, commodity and foreign exchange trading) in London, New York, Singapore and Zurich. Patrick is an expert in trading and risk management. He also gained experience in other areas, such as building start-up companies. Patrick has a degree in banking from a business school. He has also taken various courses in technical chart analysis.

dobalance