Weekly Crypto News for 7/19/21 to 7/25/21 — Curated by BearTax
1/ India & Nigeria to Launch Their Own Central Bank Digital Currency
Central Bank Digital Currency (CBDC) is a digital form of fiat currency that runs on blockchain technology & is issued by the central bank. Its price value depends on a central bank’s sovereign reserves.
Deputy Governor — T Rabi Sankar revealed that the ‘Reserve Bank of India’, is putting together a ‘phased implementation strategy’ to launch a CBDC for Indian Rupee.
This will:
- reduce printing costs for the govt
- protect citizens from volatile crypto markets
- improve financial inclusion
Central Bank of Nigeria’s Director of IT — Rakiya Mohammed said that a CBDC pilot launch for ‘Digital Naira’ will begin as early as October 1st in Nigeria.
This plan will help with:
- facilitating cross-border trade
- remittances & monetary policy
- financial inclusion & tax collection
2/ Amazon Payments Team is Hiring A Digital Currency & Blockchain Expert
Amazon’s Payments Acceptance & Experience Team wants to hire an experienced product leader to develop Amazon’s Digital Currency & Blockchain Strategy, and Product Roadmap!
If you’re interested, check out the job post here
3/ Twitter to Integrate Bitcoin into its Products
CEO Jack Dorsey says that $BTC will be a ‘huge part’ of Twitter’s future:
“If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach.”
4/ More than 1 in 10 Americans Invested in Cryptocurrency over The Past Year
According to a survey published by ‘University of Chicago’, it was found that crypto investors tend to be younger, & more diverse in terms of gender, race & ethnicity, when compared to retail stock investors.
Read full press release of the survey report here
5/ Crypto Lender CelsiusNetwork Confirms $54M Investment in Miner Core Scientific
The global crypto yield-earning platform had pledged $200M to clean bitcoin (BTC) mining. Part of this involves a $54M investment in Core Scientific, a leader in carbon-neutral mining.
