Ray Dalio, the founder of Bridgewater Associates hedge fund firm, stated that China’s digital yuan would be more competitive than the US digital dollar.
The US billionaire investor accepted an interview with CNBC Monday, where he said that he is certain the US will launch a digital dollar one day, and it will be a viable CBDC. He, however, said that the digital yuan would outpace the digital dollar.
Dalio explained that the digital dollar would not be the most competitive CBDC as its value is likely to be hit by the declining US economy from its rising debt levels.
Dalio further disclosed that the digital yuan would be more competitive in terms of value and use. The renowned hedge fund manager said that the digital yuan would be a strong, viable alternative to many investors if it comes with attractive interest rates and to be accepted internationally.
Dalio also stated that China’s yuan would surpass the US dollar as the world’s global reserve currency sooner than expected.
China is the leading country with imports and exports, implying that it’s the largest trading country in the world.
Dalio believes that more financial transactions and more trades will be denominated in yuan.
The US dollar is currently the world’s largest reserve currency, followed by the Euro, Japanese yen, British pound. China’s yuan is seen as a potential candidate to become the next global currency.
Dalio finally admitted that the digital yuan would be competitive with Bitcoin, but the yuan won’t completely take over the cryptocurrency market.
China Leading in CBDC Race
China and the US are two nations that have affirmed their commitments to continue experimenting with Central Bank Digital Currency (CBDC) projects. China’s leadership in the CBDC area is turning a huge spotlight on US initiatives, but similar efforts unfold differently.
China is much ahead in developing its CBDC and is poised to issue the digital currency for public use very soon.
However, US Federal Reserve Chairman Jerome Powell recently said that China’s rush to launch its digital yuan would not push the US into a CBDC race. The Fed chair stated that it is better to get it right than be the first to develop a CBDC. He believed that China’s approach was not the one that the US should be taking.
Powell said that in the US, rather than bidding, it’s time to determine whether a Central Bank Digital Currency would be a good thing for people and ensure that it is the right fit for people who rely on the dollar.
Dimitra (DMTR) Listed On Kucoin
Dear Dimitra Community, We have some fantastic news to share with you. Dimitra is excited to announce the listing of the $DMTR token on KuCoin, recognized as one of the world’s leading crypto currency exchanges. The exchange’s user base is global and it is considered to be one of the leading trading venues for emerging […]
Dear Dimitra Community,
We have some fantastic news to share with you. Dimitra is excited to announce the listing of the $DMTR token on KuCoin, recognized as one of the world’s leading crypto currency exchanges. The exchange’s user base is global and it is considered to be one of the leading trading venues for emerging and established altcoins.
KuCoin is the first exchange to list $DMTR. This listing, to be followed by other centralized and decentralized listings, will facilitate and accelerate Dimitra’s goal of democratizing agriculture technology for farmers globally.
The Dimitra $DMTR token will be available for deposit initially with the DMTR/USDT trading pair.
– Deposits will open at 11:00am UTC on September 21, 2021
– Trading will start at 09:00am UTC on September 22, 2021
All trading execution is done through the official website at www.kucoin.com or within the KuCoin Android and iOS apps
Dimitra is grateful and fortunate to experience the growth of such an active and loyal community! We are looking forward to continuing to grow together.
📢 WORLD PREMIERE LISTING
🔹Deposit: now open (supported network: ERC-20)
🔹Trading: 09:00 am on September 22, 2021 (UTC)
🔹Withdrawal: 10:00 am on September 25, 2021 (UTC)
— KUCOIN (@kucoincom) September 21, 2021
Check out KuCoin’s listing announcement here: https://www.kucoin.com/news/en-dimitra-dmtr-gets-listed-on-kucoin-world-premiere?utm_source=twitterinfo
Dimitra (DMTR) is a blockchain platform that is democratizing the agricultural technology space for smallholder farmers globally. Dimitra provides access to the blockchain, machine learning, Internet of Things sensors, and Satellite Technology through a mobile platform that helps farmers globally increase their yield, reduce costs and mitigate risks. Current farming practices are not sustainable; creating an evolution of practices will contribute to solving some of today’s largest issues for farmers. Issues like poverty, hunger, global warming, carbon emissions, freshwater, and soil preservation are all impacted by the adoption of Dimitra. Dimitra’s platform provides utility by combining the crypto investment cycle with agricultural development practices within nations globally.
MiamiCoin Could Free Residents Of Tax Burden, Says Mayor
Thanks to its recently launched cryptocurrency, Miami is exploring a new way to fund municipal expenditures. ICYMI my interview on MiamiCoin w/ @FoxBusiness ✅The revolutionary concept of @mineCityCoins ✅Understanding how it’s generated $5M+ for the City ✅How these benefits translate into a better quality of life for Miamians pic.twitter.com/ipewPwBMdw — Mayor Francis Suarez (@FrancisSuarez) September […]
The post MiamiCoin Could Free Residents Of Tax Burden, Says Mayor appeared first on CryptoCoin.News.
Thanks to its recently launched cryptocurrency, Miami is exploring a new way to fund municipal expenditures.
ICYMI my interview on MiamiCoin w/ @FoxBusiness
✅The revolutionary concept of @mineCityCoins
✅Understanding how it’s generated $5M+ for the City
✅How these benefits translate into a better quality of life for Miamians pic.twitter.com/ipewPwBMdw
— Mayor Francis Suarez (@FrancisSuarez) September 20, 2021
MiamiCoin earns 2,000 USD every 10 minutes for the city
In February, Miami mayor Francis Suarez made first advancements to transform the city into a cryptocurrency hub. His plans were further cemented when the municipal cryptocurrency MiamiCoin launched last month with 30% of all mined coins going directly to the city.
In a recent interview with Fox Business, Suarez confirmed that the city receives roughly 2,000 USD every 10 minutes though MiamiCoin. Annualized, this transfers to a revenue of over 100 million USD, although Suarez has been more careful, estimating a yearly revenue of 60 million USD. The money is earmarked for specific projects, such as funding for underprivileged communities, crypto education, and climate change mitigation.
Crypto could revolutionize government funding, says Francis Suarez
In his interview, Suarez stated that MiamiCoin could theoretically abolish Miami’s already low tax burden altogether:
It’s interesting because it’s not an involuntary tax and it’s not philanthropy. It’s something that is completely different and could revolutionize the way governments are funded in the future.
It is still a long way to go for that though. In 2015, the City of Miami recorded a total tax revenue of roughly 240 million USD. Yet, the move towards municipal coins is a very natural development.
Using cryptographic tokens as a funding vehicle for developing DeFi platforms and other decentralized applications is a tested method and has specially made great advancements over the last year. It should be only a matter of time until this method will be tried on a municipal, or even nationwide scale.
Coinsmart. Beste Bitcoin-Börse in Europa
AMC Entertainment Could Include Dogecoin as a Payment Option
Following confirmation that AMC would begin accepting Bitcoin, Ethereum, Bitcoin Cash, and Litecoin for online payment, the company’s CEO has asked the Dogecoin community if AMC should add the meme coin among the cryptocurrency options.
Almost 80% Want to Pay for a Movie Ticket With DOGE
Adam Aron, CEO of the world’s largest movie theater chain AMC Entertainment, conducted a poll via Twitter on Tuesday (September 21st, 2021) to check whether the company should accept DOGE payment. The poll, which ends on September 22nd, has garnered a lot of responses, most of them wanting AMC to include the meme crypto.
According to Aron, the Twitter survey came amid calls from members of the Dogecoin online community to add DOGE to the list of crypto options.
“I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?”
Before the latest development, the AMC CEO announced that the movie theater giant will accept Ethereum, Bitcoin Cash, and Litecoin by the end of 2021. This was after Aron previously revealed during an earnings call in August that customers would be able to pay for movie tickets and concessions online with bitcoin, also at the end of the year.
The poll has so far seen 110,000 votes, with 70% responding positively to the idea of DOGE payment, while 8% also agree but say they would not use the meme coin for payment. Meanwhile, 22% of the voters were not in support of the motion.
Growing Support for Dogecoin Payment
Aron’s survey comes as the cryptocurrency market is experiencing massive price dumps, along with the global financial markets, mostly tied to the Evergrande saga. Bitcoin, which traded at $48k over the weekend, dropped to as low as $40k, with the price of other altcoins also plummeting. However, there has been a slight recovery.
Dogecoin is currently the 10th largest crypto by market capitalization and reached an all-time high (ATH) of over $0.7 back in May. Now, though, it’s down to roughly $0.2.
If AMC Entertainment goes ahead to include the meme token among the list of accepted cryptocurrencies, the movie theater giant would become the latest company to support DOGE payments. Some others who have adopted Dogecoin include American basketball team Dallas Mavericks and Newegg.
Apart from AMC’s Adam Aron, Tesla’s CEO Elon Musk also carried out a similar poll for his followers. Although many of the respondents voted in favor of the electric vehicle manufacturer including DOGE among payment options, the company is yet to make it official.
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Over 40 days after Ethereum’s EIP-1559, here’s where it stands
Cardano Sees an Influx in Smart Contracts ! But There’s a Twist
After Targeting BlockFi, State Regulators Now Set Their Eyes On Celsius
NBA 2K22 Limitless Spot-Up and Chef Badges Explained
What is The Old Gym in NBA 2K22 Next Gen?
Best Dribble Pull-Up in NBA 2K22: Which to Use
NFTs Are the Building Blocks of the Metaverse — Here’s How It’s Being Built
EY Taps Polygon Network to Improve Enterprise Clients’ Experience
Matic Price to hit $1.75 in the next leg up! Launch on Bitfinex to be the Catalyst?
Shiba Inu (SHIB) Rises to Range High
Flux Pools autoriza o pagamento de ativos paralelos em mais de 300K Flux!
The Head of Diem wants you to trust Facebook, but is he fighting a losing battle?
XRP Lawsuit: Here’s Why Experts Think Ripple Could Win the Case Against SEC
All you need to know about MATIC before investing
EY Integrates with Polygon Protocol: Advances NFT Issuance
Shiba Inu’s days in the sun may be over; here’s why
Smart Contracts Running on Bitcoin? Internet Computer Founder Explains How It’s Possible
PetPals, One Of The First Play-To-Earn NFT Web-Based Games Is Out Now
Solana (SOL) outperformed top 10 cryptos with $50 million in institutional inflows last week
EOS: Why there’s a question mark attached to its long-term trajectory
Uncategorized1 week ago
Fortnite says goodbye to season 7 with an alien ship, explosions, and a cliffhanger
Blockchain1 week ago
SBI-acquired TaoTao exchange in Japan relists XRP
Uncategorized1 week ago
The best rookies in NBA 2K22
Uncategorized1 week ago
All Maps in Battlefield 2042
Uncategorized1 week ago
Natus Vincere wins ESL Pro League Season 14
Blockchain1 week ago
The Intriguing Stories Behind The Names Of Bitcoin, Ethereum, and Cardano
News1 week ago
Bitcoin and other crypto scams tied to human trafficking in Asia
Uncategorized6 days ago
Wicked Craniums are now Nifty Gateway!