January 25

A fifth of the world’s population may well have access to a central bank digital currency (CBDC) in as little as three years.

30 percent of respondents said they had active plans to issue some form of digital currency, with about 10 percent saying they were already developing pilot projects. 20 percent said a CBDC could be issued within the next six years. Another 10 percent were reported to be “imminently close” to launching a digital currency to the general public, possibly by 2023.

The BIS survey concluded that emerging economies generally had more incentive to issue CBDCs. Every bank that had progressed to active development or pilot projects came from an emerging economy.

“Politicians from Japan’s ruling Liberal Democratic Party plan to propose the nation issue its own digital currency.

China is moving toward issuing digital yuan, so we’d like to propose measures to counter such attempts.

Further, Prime Minister Shinzo Abe told parliament today the government will work with the BoJ to examine digital currencies and ways of improving the yen as a means of settlement.”

“Pieter Wuille, a Bitcoin Core contributor and the brains behind the update known as Taproot [a significant privacy and scaling upgrade], submitted a work-in-progress code change to GitHub in what’s known as a “pull request,” showing the code is ready for more developer eyes. 

Merging this is obviously conditional on getting community support for the proposal. It’s opened here to demonstrate the code changes that it would imply.

If no one in the community comes up with any valid objections to Taproot (such as uncovering a security vulnerability) it could become the biggest change the digital currency has seen since 2017 [SegWit].

Ripple insiders prepare to dump onto the public (pre-SEC ruling? 🧐). 😆

Ripple CEO Brad Garlinghouse said an initial public offering (IPO) is seen as the ‘natural evolution for the company,’ perhaps even this year.

Garlinghouse made the comments at a Ripple-sponsored session at The Wall Street Journal lounge at the World Economic Forum.”

Ivan interviews former CFTC head, aka ‘Crypto Dad’, on the Digital Dollar Project

“‘We’ve been trying for 30 years,’ he said, referencing efforts to move beyond the U.S. dollar by settling oil contracts in euros. ‘Until bitcoin is regulated like the stock market, I don’t see that happening.’ However, if oil contracts were to be settled in currencies beyond the dollar, Jafar said that might be driven by political factors related to Russia and China.

China Blockchain Delegation Chairman Danny Deng said China’s blockchain-based currency, which he expects the People’s Bank of China (PBoC) to launch on a limited scale in 2020, could offer a backbone for energy markets. Several Chinese businessmen who work with the government and PBoC agreed the bank could offer an alternative to dollar settlement systems by 2021.

“The SCFM claims to have access to an “analytical product” that purportedly allows investigators to look at the origins of crypto assets as well as their uses.

It is impossible to stop operations now, but it is possible to block crypto wallets and remove illegally obtained crypto assets. This can be done by gaining access to the crypto’s private keys as a result of complex investigations.”

Altcoins to Watch

See Also: Unibright partnership with the EEA? (video)

“PlanetWatch announced earlier today the battle-testing of air quality monitors linked to research firm Algorand’s blockchain. The goal for the partnership is ‘a global network of air quality sensors and environmentally-conscious people.’

It is currently operating in several Italian cities (fixed installations and mobile ones on trolleys and buses), plus a long-term installation test in the Arctic.”

“Noting that he’s ‘neither here nor there on Bitcoin,’ Musk focused on its use for illegal transactions.

There are transactions that are not within the bounds of the law — there are obviously many laws in different countries — and normally cash is used for these transactions. But in order for illegal transactions to occur, the cash must also be used for legal transactions. You need an illegal-to-legal bridge. That’s where crypto comes in.