Cryptocurrencies ‘Innovative’ But ‘Pose Challenges’: Federal Reserve Governor

The Federal Reserve has been giving cryptocurrencies and their potential impact on the economy a great deal of thought lately. Most recently, Fed Governor Lael Brainard provided a rare tilt of the Fed’s hand on digital currencies, taking more time, offering more details than usual and demonstrating the resources that the agency has dedicated to understanding

The post Cryptocurrencies ‘Innovative’ But ‘Pose Challenges’: Federal Reserve Governor appeared first on CCN

Former Federal Reserve Governor Supports ‘FedCoin’ Project

Kevin Warsh, a former U.S. Federal Reserve governor, recently told The New York Times the Fed should give serious consideration to releasing a government-sponsored cryptocurrency — commonly called a “FedCoin.” Warsh is among a group of investors in Basis, formerly Basecoin, a cryptocurrency designed with an algorithmic central bank that will keep the price stable.

The post Former Federal Reserve Governor Supports ‘FedCoin’ Project appeared first on CCN

PBoC Digital Currency Director Says Blockchains Need Centralization

China’s digital currency director said that excessive decentralization is a fatal flaw that spells doom for Bitcoin, Ethereum, and many other public blockchains. Writing in an op-ed published by Chinese-language business news outlet Yicai, Yao Qian — who leads the People’s Bank of China (PBoC) digital currency research institute — argued that is impossible to

The post PBoC Digital Currency Director Says Blockchains Need Centralization appeared first on CCN

Sorry MIT, But You’re Not Taking Down Bitcoin

“Let’s destroy Bitcoin.” Thus the MIT Technology Review purports to present a guide to taking down the flagship cryptocurrency, whose network has achieved 99.99 percent uptime since its launch in January 2009. Unsurprisingly, the publication’s plans — which you can read about in more detail here — fall short of the mark. Author Morgan Peck

The post Sorry MIT, But You’re Not Taking Down Bitcoin appeared first on CCN