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DIGITAL CURRENCIES WON’T REPLACE USD SAYS IMF ECONOMIST





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Bithumb Stars An R&D Project For Blockchain
South Korean cryptocurrency exchange Bithumb has established its own research and development (R&D) center. The initiative makes Bithumb the first company with a blockchain and cryptocurrency research center in South Korea. Bithumb expressed high hopes for the research center’s impact on the company.

What Does The Future Look Like For Blockchain News And Information?
“pro-Bitcoin” news outlet called “Nakamoto” launched with the stated intention of letting industry thought leaders share positive content about cryptocurrencies. According to the about section of the Nakamoto website, the platform was launched “to create a venue for quality technical, philosophical, and cultural writing that is of general interest to the crypto community as a whole, for beginners and experts alike.”

Virginia Looks To Blockchain To Help With Elections
In the USA, the great state of Virginia’s state legislature looks to study blockchain to improve elections and voting. Prefiled on Dec. 27 and scheduled for offering on Jan. 8, a new bill requesting further study into blockchain-based elections has emerged in Virginia’s General Assembly. The bill, House Joint Resolution 23, asks the Department of Elections to determine whether blockchain technology should be considered to secure voter records and election results.

BitBox De-lists XRP On Exchange
BitBox, the Singapore-based cryptocurrency exchange operated by internet messaging giant Line, announced that it will delist XRP on Jan. 16. “We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.”

IMF Economist Says USD Will Not Be Replaced By Digital Currency Soon
In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” they lack the infrastructure and global acceptance needed to supplant the dollar as the preeminent global reserve currency. “Advances in payment technologies do not address fundamental issues of what it takes to be a global reserve currency,” Gopinath wrote. “The dollar’s status is bolstered by the institutions, rule of law, and credible investor protection that the U.S. is seen as providing.”

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