An overview of what is happening in the crypto markets, summarised daily by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.
Market commentary
Good Morning!
And another nation is pushing forward on their national CBDC project: Japan (see here).
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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