The ongoing battle to beat the crypto thieves

The price of crypto currencies has plunged recently, but whatever the value of their investment, for digital asset holders, protecting their crypto from thieves is an ongoing problem. In March this year, hackers carried out one of the biggest cryptocurrency heists of all time and with cyber criminals increasingly wielding high-tech tools and techniques, in 2021 cryptocurrency theft grew by around 500 per cent over the previous year.

What Happens If a Crypto Platform Such as Coinbase or Celsius Goes Bankrupt

When cryptocurrency lending platform Celsius froze user accounts amid a plunge in valuations, it sent ripples across the industry and raised questions about what happens to user assets if a crypto platform files for bankruptcy. WSJ’s Vicky Ge Huang explains.

Banking on the cloud

The bank getting ahead of the game with hiring in order to move to the cloud.

Bitcoin Explained

"We all have a crypto-friend who sounds like this guy. Gold back in 698BC was no different..."

Tesla CEO Elon Musk on Trump, Twitter, Job Cuts, Recession Risks

Tesla Inc. CEO Elon Musk discusses his planned acquisition of Twitter Inc., his view that a US recession is likely, and the outlook for job cuts at Tesla. In an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum, he also comments on supply constraints and whether he would support Donald Trump in the next US presidential election.

The future monetary system - BIS Media Briefing

A burst of creative innovation is under way in money and payments, opening up vistas of a future digital monetary system that adapts continuously to serve the public interest.

Structural flaws make the crypto universe unsuitable as the basis for a monetary system: it lacks a stable nominal anchor, while limits to its scalability result in fragmentation. Contrary to the decentralisation narrative, crypto often relies on unregulated intermediaries that pose financial risks.

A system grounded in central bank money offers a sounder basis for innovation, ensuring that services are stable and interoperable, domestically and across borders. Such a system can sustain a virtuous circle of trust and adaptability through network effects.

New capabilities such as programability, composability and tokenisation are not the preserve of crypto, but can instead be built on top of central bank digital currencies (CBDCs), fast payment systems and associated data architectures.

Anonymous digital payments?

Is there a place for anonymous CBDC payments?

The Bank of Israel has been experimenting with technology that would allow some CBDC payments to be made anonymously.

Setting out the results from its first digital shekel technological experiments, the bank says that one of its main focuses has been on finding a balance between offering the privacy afforded by cash and ensuring a CBDC cannot be used for things such as tax avoidance and money laundering.

The experiment examined a model developed by VMware that would see citizens have a wallet that can hold “ordinary” digital shekels, the transfer of which is recorded in the ledger, and “private” digital shekels, the transfer details of which are not recorded openly, and where both sides to the transaction enjoy complete privacy as with cash payments.

Read more HERE.