#CryptoYuan

[bgugliel]

Cryptoyuan sur les routes de la soie numériques

Mon Carnet, le podcast · {BONUS} – Cryptoyuan sur les routes de la soie numériques (23.03.31) Stéphane Ricoul nous propose une réflexion sur le cryptoyuan qui prend tranquillement sa place de passager sur les routes de la soie numériques. Encore une fois un plan à long terme de la Chine, qui s’y tient et trouve des alliés, dont la Russie.

[roguenewsdao]

Kazakhstan Launching Fiat Cryptocurrency

"The country's government-supported Astana International Finance Center (AIFC) said Tuesday it had signed a deal of cooperation with Maltese firm Exante. In a press release, Exante, which calls itself a "next generation investment company," said it would work with the AIFC to develop the ex-Soviet nation's untapped cryptocurrency market. "Blockchain and cryptocurrencies are entering the mainstream of today's economic reality," Kairat Kelimbetov, governor of the Astana International Finance Center, said in the press release Tuesday. "Astana's leading financial regulators have already commenced their work and are laying the foundation for Kazakhstan's fintech-ecosystem. We believe that the AIFC can become an international hub for blockchain operations and the development of the digital assets market is our key priority in the near future." Kazakhstan's entry into the digital currency ecosystem would be underpinned by Exante's new blockchain platform, 'Stasis'. Blockchains are digital ledgers that record cryptocurrency transactions on encrypted "blocks" across a distributed network of computers. "The development of such a system will bridge the gap between the traditional asset market and the crypto-world," Anatoly Knyazev, co-founder of Exante, said. "We see keen interest from the market players, and we already have applications from other government-related financial institutions." The technology is being experimented in a "closed mode" at present, and Exante didn't indicate a timeline for commercial launch."  -- https://www.cnbc.com/2017/10/17/kazakhstan-plans-to-launch-its-own-cryptocurrency.html

The CryptoRuble: Russia's Next Currency interview by Sputnik's Andrew Korybko with Dr. Garrick Hileman, Research Fellow at the Judge Business School at the University of Cambridge and entrepreneur Jim Talbott October 21, 2017

As in Russia, Kazakhstan's cryptocurrency issuance will be controlled by the State, and is intimately tied to the country's status as a global energy exporter. The question of how rapidly we will see cryptorubles or cryptotengits (KZT) 'in the wild' being traded through the Moscow or available to non-Russian and non-Kazakh nationals is an interesting one. According to a story posted by V the Guerrilla Economist here at RogueMoney on October 19, ethereum co-founder Vitalik Buterin is skeptical governments in the former Soviet Union are actually ready to unleash these blockchain units into the global digital currency marketplace, where they could be owned by foreigners and compete with privately issued fiat like bitcoin or dash:

"Ethereum founder Vitalik Buterin has stated that he is “not expecting to see any kind of large-scale, live central bank digital currency actually launched for another few years.” He added that “if it is, then I guarantee you that it will basically be a server with a bunch of marketing buzzwords to make it look like a blockchain.” He made the remark while participating in an October 17 panel discussion at Swell, a conference convened by blockchain firm Ripple in Toronto."  -- https://www.roguemoney.net/?author=524c6a2de4b0ad97e93c9607

However, as the Russia Analyst argued in our October 16 piece drawing on the research of London Paul into potential gold or other physical commodity backing for these Eurasian cryptocurrencies, there is a geoeconomic logic to accelerating the use of the digital ruble and tengits as block chain logged petrocurrencies. Furthermore, even if the initial use of these cryptocurrencies is non dollar or non euro trade settlement for oil and gas contracts, it will not be long before they become attractive for transparent payment in the sector most plagued by corruption in the former Soviet space: real estate. Additionally Kazakhstan's role as a major global oil producer that like Russia stands outside of OPEC but is required to do business with the weakened cartel's production cuts makes the crypto-tenge an attractive asset to Gulf state investors -- particularly those keen to join in President Nazarbayev's 'Nurly Zhol' infrastructure investment program that's been expanded since Russia sanctions and lower oil prices hit Astana's economy in 2014.

While Astana already has world class infrastructure in the capitol, the rest of the country and especially Kazakhstan's Central Asian neighbors not blessed with abundant oil and gas like Tajikistan which largely survive on cotton exports or remittances from migrant workers in the Russian Federation desperately need more long term investment to grow. Denominating bonds in crypto-yuan, with the option for crypto-ruble payout could be a part of an effort to entice greater Russian and Chinese investment into OBOR linked projects across the region.

[jacobhinkley]

CryptoBank get ahead of Bank of Russia and creates Cryptoruble

A few months ago the bill on regulation of the decentralized property meaning creation of own digital currency has drafted in Russia. While the Central Bank of Russian Federation progresses in realization of the idea to create a national cryptocurrency, the CryptoBank development team has made this idea a reality. The CryptoBank blockchain startup has created a Cryptoruble – a decentralized, non-volatile cryptocurrency linked to the Russian ruble.

Besides Cryptoruble, the project has also presented such cryptocurrencies as Cryptodollar, Cryptoeuro, and Cryptoyuan. Each cryptocurrency is processed in a separate blockchain and has the fixed value linked to the similar fiat currency. So, 1 Cryptoruble = 1 Russian ruble, 1 Cryptodollar = 1 US dollar, 1 Cryptoevro = 1 Euro, 1 Cryptoyuan = 1 Chinese yuan (CBD = USD, CBE = EUR, CBR = RUB, CBY = CNY). At the moment, you can buy or sell these cryptocurrencies on the cbex.co.in platform.

To be able to provide appropriate stability of the price, the project uses a method of rate support in reserve storage and diversifies funds. At the same time, CryptoBank does not need to store reserves in traditional financial institutions.

Unlike the fiat currencies that are subject to regulation by the central authorities of the country in which they issued, the CryptoBank cryptocurrency is decentralized, and therefore is not subject to geopolitical and age restrictions.

CryptoBank’s tokens have a number of advantages not only over fiat, but also such cryptocurrencies as Bitcoin, Ethereum, etc. They are convenient not only for paying for goods and services in everyday life, but also in case of need to preserve the assets value. 

Today cryptocurrencies have considerable volatility and present themselves the speculative tool in the market. Owners of CryptoBank tokens will be able to take all blockchain technology advantages without experiencing volatility, thanks to the anti-inflationary algorithm applied in algorithms of mining CryptoBank.  It is necessary in order that participants of the market may interact in their usual environments and CryptoBank is ready to help them in this.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

CryptoBank get ahead of Bank of Russia and creates Cryptoruble published first on https://medium.com/@smartoptions

[muffinstudio]

Favorite tweets

Zuckerberg face aux élus américains : « Si nous n’y allons pas, la Chine le fera. » Deux jours plus tard, le président chinois : « La blockchain est l’une de nos priorités. » Au moins c’est clair. #libra #cryptoyuan

— Raphaël Bloch (@Bloch_R) October 25, 2019

via http://twitter.com/Bloch_R

[cryptochurp]

CryptoBank Gets Ahead of Bank of Russia and Creates Cryptoruble

April 26, 2018 — A few months ago the bill on regulation of the decentralized property meaning creation of own digital currency has drafted in Russia. While the Central Bank of Russian Federation progresses in realization of the idea to create a national cryptocurrency, the CryptoBank development team has made this idea a reality. The CryptoBank blockchain startup has created a Cryptoruble – a decentralized, non-volatile cryptocurrency linked to the Russian ruble.

This is a press release provided by CryptoBank

Besides Cryptoruble, the project has also presented such cryptocurrencies as Cryptodollar, Cryptoeuro, and Cryptoyuan. Each cryptocurrency is processed in a separate blockchain and has the fixed value linked to the similar fiat currency. So, 1 Cryptoruble = 1 Russian ruble, 1 Cryptodollar = 1 US dollar, 1 Cryptoevro = 1 Euro, 1 Cryptoyuan = 1 Chinese yuan (CBD = USD, CBE = EUR, CBR = RUB, CBY = CNY). At the moment, you can buy or sell these cryptocurrencies on the cbex.co.in platform.

To be able to provide appropriate stability of the price, the project uses a method of rate support in reserve storages and diversifies funds. At the same time, CryptoBank does not need to store reserves in traditional financial institutions.

Unlike the fiat currencies that are subject to regulation by the central authorities of the country in which they issued, this cryptocurrency is decentralized, and therefore is not subject to geopolitical and age restrictions.

CryptoBank’s tokens have a number of advantages not only over fiat, but also such cryptocurrencies as Bitcoin, Ethereum, etc. They are convenient not only for paying for goods and services in everyday life, but also in case of need to preserve the assets value.

Today cryptocurrencies have considerable volatility and present themselves the speculative tool in the market. Owners of CryptoBank tokens will be able to take all blockchain technology advantages without experiencing volatility, thanks to the anti-inflationary algorithm applied in algorithms of mining the token.  It is necessary in order that participants of the market may interact in their usual environments and CryptoBank is ready to help them in this.

Image via Cryptobank

This is a sponsored press release, provided by CryptoBank. Bitsonline is not responsible for the products and or services of this company and its clients. This article contains links to third-party websites. Bitsonline is not responsible for the content on those websites.

The post CryptoBank Gets Ahead of Bank of Russia and Creates Cryptoruble appeared first on Bitsonline.

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[jacobhinkley]

Bitcoin in Brief Tuesday: Wary Giants, Eager Dwarfs

For some obvious reasons, but also irrational fears, big players like China, Russia, and the European Union are wary of cryptos like bitcoin. Centralized control doesn’t square with decentralization. However, often that’s not how their own regions and smaller neighbors feel about cryptocurrencies. In today’s Bitcoin in Brief we cover some recent developments mirroring this divergence of interests. The balance between center and periphery is likely to determine the future of cryptocurrencies in Eurasia and beyond.

Also read: Bitcoin in Brief Monday: Snatching Blockchain, Tracking Bitcoin

Only Cryptoyuan, Only Cryptoruble

China will not allow any cryptocurrency other than a digital yuan, a Chinese entrepreneur recently told Russian media. Huan Zhang’s company, DAEX Blockchain Group, is working on a clearing ecosystem for cryptocurrencies in collaboration with Russian counterparts. She believes the decentralized nature of blockchain technologies and a centralized clearing platform should be balanced well for the crypto market to function properly. “China treats the blockchain in a positive way, but fears cryptocurrencies,” Zhang told Sputink. “The central bank is working on its own digital coin, cryptoyuan, and authorities won’t allow any other cryptocurrency in the country,” she said on the sidelines of the economic forum in Yalta, Crimea.

The Central Bank of Russia is also wary of decentralized cryptocurrencies. On multiple occasions, its representatives have spoken against their uncontrolled circulation and free exchange. The idea of a cryptoruble has its supporters among Russian officials, including in the CBR. For many Russian regions, however, a centralized crypto as a state-issued alternative is simply not good enough. The western exclave of Kaliningrad and Russia’s far-eastern capital Vladivostok, for example, are willing to create offshore zones for businesses working with decentralized cryptocurrencies.

Crypto-Crimea Planned

The Autonomous Republic of Crimea, which hosted the Yalta Forum, has been dealing with sanctions since it joined the Russian Federation. Local officials are convinced that a vibrant crypto sector could help the region overcome international isolation and develop economically. They have recently asked for permission to set up a crypto offshore zone, crypto exchange, crypto cluster, and even issue a Crimean crypto. The Russian Cryptocurrency and Blockchain Association is actually working on a “Crypto-Crimea” plan encompassing all proposals.

Forget about China, Think of Hong Kong

Beijing’s crackdown on cryptocurrencies has turned China’s own Special Administrative Region of Hong Kong and the Asian city-state of Singapore into wanted destinations for investors and businesses raising crypto funds. The number of startups launching initial coin offerings (ICOs) in these two territories has sky-rocketed in recent months, according to local fintech entrepreneurs, lawyers, and industry organizations. “Yes, there has been a lot of activity,” said Anson Zeall, chairman of Singapore’s Association of Cryptocurrency Enterprises and Startups. Like many others in the sector, he thinks the increase is related to China’s retreat from ICOs.

Thanks to its independent legal system, Hong Kong has also seen significant ICO growth. As reported by Chinese media, all ICO platforms and Bitcoin exchanges have already exited the Chinese market as a result of official warnings of the risks associated with investing in these projects. Well, others, including Hong Kong, which is part of China, are still willing to accept the risks, supporting innovation and economic growth.

Europe and the Europeans

While United Europe has recently confirmed serious intentions to end anonymity for crypto traders, with a vote in the European parliament last week, crypto exchanges are not turning back on Europeans, not yet. Many trading platforms have decided to move closer to the Old Continent, not too close, though – Switzerland, Gibraltar, Malta, even the exiting UK.

Maltese authorities are on a crusade to make their island the friendliest jurisdiction for the crypto sector. Proposed regulations are tailored to provide crypto exchanges, brokerages, asset managers, and crypto users with “legal certainty”. Two of the world’s largest cryptocurrency trading platforms have confirmed intentions to relocate operations to Malta. Binance, which announced it is moving to the “Blockchain Island”, recently said it will hire up to 200 people there. Following its decision, the Chinese rival Okex said it’s also coming to island. Other crypto companies have followed in their footsteps, including Berlin-based blockchain firm Neufund and the gaming platform operator Abyss.

Looking to expand beyond Asia, another Chinese exchange, Huobi, is planning to set up an office in London, despite Brexit. “Our statistics show that London is the most active trading scene across Europe,” Chern Chung, Huobi’s senior business development manager for Europe, has been quoted as saying. “Absolutely – London, Britain is the entry point for the European market for us,” Vice-President of Huobi Group Peng Hu confirmed.

Beyond Eurasia

Crypto businesses are often known for swimming against the stream. The crypto exchange Golix, which has recently felt the heat from competition in bitcoin-loving Zimbabwe, has announced plans to expand its operations to neighboring South Africa. In partnership with the local crypto hub Blockstarters, the trading platform wants to increase its network on the continent, tapping into the very active South African market.

Authorities in the regional powerhouse have recently taken steps to tax crypto incomes and transactions, which can curb crypto trade. On the other hand, self-regulation has been mentioned as a solution for the South African crypto sector. So, at the end of the day, Golix might have taken a sound business decision.

Do you agree that the diversity of interests in each country and region helps cryptocurrencies? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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The post Bitcoin in Brief Tuesday: Wary Giants, Eager Dwarfs appeared first on Bitcoin News.

Bitcoin in Brief Tuesday: Wary Giants, Eager Dwarfs published first on https://medium.com/@smartoptions