The head of the digital innovation and blockchain unit at the European Commission (EC), Pēteris Zilgalvis, explained the concise benefits of distributed ledger technology (DLT) in an interview to The Banker, a subsidiary of the Financial Times. In the interview, published on April 3, Zilgalvis talked about the benefits and challenges of the technology. According to him, blockchain provides a powerful framework for data sharing, something that can't be done by normal databases: “We think that it presents an excellent technology for situations where different stakeholders need to collaborate but, due to competition or legal reasons, they do not want …

After similar efforts from the U.S. Federal Reserve on March 10, the European Central Bank, or ECB, announced a $135 billion stimulus — a number that dwarfs Bitcoin’s (BTC) entire market cap. The ECB, in an effort to combat struggling markets, decided not to cut interest rates further. Instead, the central bank announced the allocation of 120 billion Euros, or $135.28 USD, to its asset purchase program, a CNBC report detailed on March 12. The ECB decided not to cut rates, but inject massive capital Amid recent interest rate cuts from U.S. and English central banks, the public anticipated similar …

This past week in Japan, native exchange Bitpoint released data showing a massive deficit from 2019, Japan’s Financial Services Agency mentioned upcoming tightened regulations, Japanese and European central banks researched distributed ledger technology, Japan’s Liberal Democratic Party chairman expressed fears of Libra and the Chinese digital yuan, and the GMO Coin exchange hit 300,000 users. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese exchange operates in deficit for most of 2019 Japan-based exchange Bitpoint recently publicized its monetary records for Q2, Q3 and Q4 2019, revealing a 62.9% decline in sales. The …

Six major central banks will meet in April to discuss the development of central bank digital currencies (CBDC). The Japan Times reported on Feb. 6 that — according to a source familiar with the matter — the meeting will see the governors of several central banks discuss joint research on CBDCs. Furthermore, the group will share considerations on possible challenges such as cross-currency settlement and cybersecurity. The central banks of the European Union, the United Kingdom, Canada, Japan, Sweden and Switzerland will reportedly meet in Washington D.C., when the participants will be there for an International Monetary Fund conference. The …

Stablecoins may represent crypto’s best chance of achieving mainstream success and recognition from the traditional financial systems. Just recently, the president of the European Central Bank nourished this viewpoint by stating that the institution should be proactive when it comes to digital assets. On Dec. 12, Christine Lagarde tweeted: “My personal conviction on the issue of stablecoins is that we better be ahead of the curve. There is clearly demand out there that we have to respond to.” The value of stablecoins Being ahead of the curve and responding to demand may seem like contradictory terms, but Lagarde’s comments certainly …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin on the verge of breaking seven-month downtrend It’s been another tumultuous week for the world’s biggest cryptocurrency, which is on the verge of breaking out of a long-running downtrend. Although BTC rallied to $8,400 a few days ago — which is the next resistance zone, according to analysts — prices have since retreated back …

The president of the European Central Bank (ECB), Christine Lagarde, supports the bank’s active involvement in the development of a central bank digital currency (CBDC) to address the demand for faster and cheaper cross-border payments. In an interview with French business magazine Challenges published on Jan. 8, Lagarde discussed the most likely threats to the global economy in 2020, among which she named a downturn in trade and a range of uncertainties, geopolitical risks and climate change. Going further, Lagarde noted that “the EU is still the most powerful economic and trading area in the world, with enormous potential.” Not …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week SEC on “unfounded fishing expedition,” Telegram lawyers tell judge Telegram’s lawyers haven’t had a quiet start to 2020. A judge gave them less than a single business day to respond to a request from the United States Securities and Exchange Commission to hand over details of how the company spent the proceeds of its $1.7 …

The European Central Bank (ECB) remains open to the idea of a digital euro equivalent but would want to stop citizens holding too much of it. That was the conclusion of a fresh working paper on so-called central bank digital currencies (CBDCs) by Ulrich Bindseil, the bank’s Director General of Market Infrastructure and Payments, on Jan. 3. ECB would need to “control volume” of CBDC The paper deals with the prospect of issuing a CBDC for the European Union, and also touches on the differences between such a currency and cryptocurrency stablecoins. Its issuance comes as China edges closer to …

A member of the United States Federal Reserve’s board of governors appears to believe that one in four people who use Bitcoin (BTC) are criminals. Lael Brainard highlighted the perceived risks still posed by cryptocurrencies in remarks delivered today in Frankfurt Germany. Brainard was speaking as part of a panel honoring Benoît Coeuré, a member of the executive board of the European Central Bank (ECB). Brainard: crypto exchange security troubling Specifically selected for the panel, which formed part of the “Monetary Policy: The Challenges Ahead” event in Frankfurt, Germany, was illicit activity involving Bitcoin. According to Brainard, who cited an …

Recent research by the European Central Bank (ECB) claims that it is possible to develop a central bank digital currency (CBDC) payment system that protects user privacy. Per the report dubbed “Exploring anonymity in central bank digital currencies,” the European System of Central Banks (ESCB) established a proof-of-concept (PoC) for anonymity in CBDCs, which came as part of its ongoing research of CBDCs and their potential benefits to the public. The dedicated PoC was developed in collaboration with tech companies R3 and Accenture. Corda-based PoC The ESCB used R3’s open-source blockchain platform Corda to develop a PoC featuring four parties …

The president of the European Central Bank (ECB), Christine Lagarde, said that the financial institution should be ahead of the curve regarding the demand for stablecoins. According to a tweet by the ECB on Dec. 12, Lagarde said: “My personal conviction on the issue of stable coins is that we better be ahead of the curve. There is clearly demand out there that we have to respond to.” Stablecoins are digital currencies pegged to a physical asset or fiat currency and designed to minimize price volatility. Focus on prompt adaption to fintech innovations In early September, when Lagarde was still …