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Bitcoins
First Mover: Even Bank of America Acknowledges China Winning Digital-Currency Race https://www.coindesk.com/first-mover-bank-of-america-china-digital-currency-race
CQ
Jeremy Allaire, co-founder and CEO of Circle, which backs the dollar-linked stablecoin USDC, said on a podcast last week that China’s development of a digital currency has effectively “created a model where a household, a firm, a nation state can kind of directly transact and settle with China over the internet,” effectively bypassing payment systems in the U.S. sphere of economic influence.
Former U.S. Treasury Secretary Lawrence Summers, a guest on the podcast, said he doubted China would make it the digital yuan flexible enough to allow its citizens to freely move wealth and resources out of the country.
“And I think a system that is so restricted that it isn’t possible to do that isn’t going to be much of a global digital currency,” he said.
Jeremy Allaire, co-founder and CEO of Circle, which backs the dollar-linked stablecoin USDC, said on a podcast last week that China’s development of a digital currency has effectively “created a model where a household, a firm, a nation state can kind of directly transact and settle with China over the internet,” effectively bypassing payment systems in the U.S. sphere of economic influence.
Former U.S. Treasury Secretary Lawrence Summers, a guest on the podcast, said he doubted China would make it the digital yuan flexible enough to allow its citizens to freely move wealth and resources out of the country.
“And I think a system that is so restricted that it isn’t possible to do that isn’t going to be much of a global digital currency,” he said.
CoinDesk
Former US Treasury Secretary Laurence Summers Expects 'a Ton of Innovation' Around Stablecoins - CoinDesk
Former U.S. Treasury Secretary Lawrence Summers praises stablecoins, but says he doubts a global digital currency will become a reality in his lifetime.
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Hi WB. I ended getting kicked off webinar and was unable to get back on. I had checked out there website briefly. It did look interesting. Will listen to replay later today when I get up.