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Daily Crypto News- Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market

Daily Crypto News- Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market

Daily Crypto News- Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market
Daily Crypto News- Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market

Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market

As the adoption of digital assets is becoming more mainstream, some countries are awakening to join the flow. This has borne the desire to get a central bank digital currency, CBDC, by some countries. One of such countries is France.

For some months, the Central Bank of France has explored a central bank digital currency (CBDC). Recently, the apex bank is rounding off a remarkable trial of a CBDC based on blockchain within the country’s debt market.

According to the reports, there has been a 10-month testing experiment for a central bank digital currency in the country. Banque de France issued the experiment for its government bond deals with the participation of more than 500 institutions.

Bitcoin Takes A Pause As Futures Cooldown, Why BTC Is Clear For Takeoff

Bitcoin broke back above the $60,000 levels and records moderate profits in the past day. The benchmark crypto trades at $61,483, at the time of writing, with 4% profits in the daily chart and a 7% loss in the weekly.

Bitcoin has slowed down from its rally after it was rejected at the high of its current levels. As NewsBTC has been recording since BTC’s price started turning to the upside, the rally has been driven by institutions increasing their bet on the cryptocurrency as its ETF was rollout in the U.S.

The upward trend brought a lot of leverage to the Bitcoin-based derivatives as speculators and short-term investors tried to ride the new bullish momentum. However, more leverage implies more volatility, and it can turn an upward trend fragile and susceptible to sudden moves.

Shiba Inu (SHIB) Breaks 8th Place In Crypto Top 10 With Unprecedented Rally

Shiba Inu is arguably one of the most talked-about cryptocurrencies in the space now. The meme coin had managed to crawl out of growing obscurity to the forefront of the crypto market. While the broader market has suffered alongside top cryptocurrency bitcoin, Shiba Inu has had other plans. Carving out its own growth pattern, the value of the asset had rallied to a new all-time high on Wednesday.

Its break above $0.00004 and the subsequent crash had led the market to believe that the rally would be short-lived. SHIB had promptly fallen back to range $0.00003 range after hitting its new all-time high. But going against expectations, it had resumed its rally again and this time; its price had once again doubled, peaking above $0.00008. SHIB’s price in addition to its total supply has pushed the coin into the top ten cryptos and past its rival Dogecoin.

Ethereum mining is a step closer to becoming obsolete after a recent upgrade. Here’s what to know

Altair, an important upgrade to the Ethereum network, went live on Wednesday.

Its immediate impact might only be noticeable to validators, or those who verify transactions on Ethereum. But Altair is one of the pivotal upgrades for Ethereum 2.0, or Eth2, and investors should be aware. Eth2 will change the Ethereum infrastructure, ultimately making mining obsolete.

Currently, Ethereum operates on a proof of work (PoW) model; where miners must compete to solve complex puzzles in order to validate transactions. This model gets a lot of criticism due its environmental impact, as it requires an extreme amount of computer power.

Blockchain-Powered Food Marketplace, Bistroo, Adds More Crypto Payment Options

Bistroo, a blockchain-powered takeaway startup; has announced the addition of more crypto payment options, according to a press release on October 28th. This peer-to-peer food ecosystem will now allow merchants to accept payments in Bitcoin (BTC); Ethereum (ETH), Binance Coin (BNB), Litecoin (LTC) and Bitcoin Cash (BCH).

The additional payment options extend Bistroo’s footprint in the crypto ecosystem; given that the platform was already supporting payments through its native token BIST and fiat currencies. Bistroo is also the pioneer P2P food takeaway platform to embrace crypto payment options and blockchain infrastructure.

The project raised $8 million back in May 2021 and has been working on expanding its crypto payment options. As such, Bistroo is currently collaborating with crypto payments service provider Coin payments; which allows customers globally to pay over 100,000 merchants through the BIST token.

Source: NewsBtc

CNBC

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