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