Welcome to the weekly briefing presenting developments in blockchain and fintech industry from the Billon's point of view. This week we are focusing on "Britcoin" - a fresh UK attempt to explore a potential CBDC. The Earth Day on April 22 raised more concerns on the climate footprint of bitcoin and we also took a closer look at it. We have also checked how luxury brands plan to use blockchain to tackle counterfeit goods and how too much Zoom can increase stress and brain noise- terryfying, right?! Let's go!
The U.K. Treasury and Bank of England have launched a joint taskforce to explore a potential central bank digital currency. A BoE-backed digital version of sterling would potentially allow businesses and consumers to hold accounts directly with the bank and to sidestep others when making payments, upending the lenders' role in the financial system. UK is the latest country to start figuring out strategies for CBDCs, as China is charging ahead and testing the digital yuan in major cities. Leartn more in this Reuters dispatch.
On April 22 we celebrated Earth Day. However, we were also were concerned about the extent of environmental damage bitcoin mining can bring. "Forward-looking politicians should be thinking about ways not to buoy bitcoin mining but to bury it", writes "The New Yorker" in their occasional piece. Do you agree?
Bitcoin and other digital coins plunged on Friday, wiping over $200 billion of the value of the cryptocurrency market - CNBC notices. The wave of selling was launched by US president Biden who is expected to raise long-term capital gains tax for the wealthiest Americans.
BTC obviously is not the only one volatile currency on the markert. Dogecoin spiked 400% just a few days ago. Its skyrocketing price has however led to worries of a yet another potential cryptobubble. So much wow!
A trio of high-end luxury companies - Prada, Louis Vuitton and Cartier - are coming together to tackle counterfeit goods through a blockchain-based seal of authenticity. A private network developed in partnership with ConsenSys will undergird the Aura Blockchain Consortium. The collective effort aims to give shoppers a level of assurance that the pricy products being purchased are authentic - CoinDesk reports.
We all know these constant video calls are doing something to our brains. How else could we get tired and frazzled from sitting around in our own home all day? Well, now Microsoft has done a little brain science and found out that yeah, constant video calls do increase your stress and brain noise. Tell your boss! And learn more in this (a bit frightening) TechCrunch article.
And that's all for now. See you next week!
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