{"id":389288,"date":"2019-07-09T12:13:47","date_gmt":"2019-07-09T12:13:47","guid":{"rendered":"https:\/\/wncen.com\/?p=389288"},"modified":"2020-10-02T10:26:19","modified_gmt":"2020-10-02T10:26:19","slug":"etoro-market-update-uniquely-dysfunctional","status":"publish","type":"post","link":"https:\/\/wncen.com\/trade\/etoro-market-update-uniquely-dysfunctional\/","title":{"rendered":"eToro Market Update: Uniquely Dysfunctional"},"content":{"rendered":"

Hi Everyone,<\/p>\n

Even though major central bankers like Mark Carney and Jerome Powell don’t see Facebook’s upcoming Libra coin as a threat, it\u00a0seems that<\/a>\u00a0the People’s Bank of China (PBOC) does.<\/p>\n

\"market,<\/p>\n

Personally, I fail to see any advantage here. China is already an all-cash society as almost all payments are done digitally through WeChat Pay. So why reinvent the wheel?<\/p>\n

It seems that Wang Xin’s concerns are particularly about how the basket of currencies backing the Libra will be managed.<\/p>\n

\"market,<\/p>\n

 <\/p>\n

Again, I don’t really see how this is different from the status quo, which is a world that relies on the US Dollar as the global reserve currency.<\/p>\n

As stated in the article, “the PBOC was the first major central bank to study digital currencies in 2014.”<\/p>\n

From what I’m reading here, for all that studying it seems they still haven’t figured out how to make a centralized cryptocurrency work in their favor.<\/p>\n

@MatiGreenspan<\/a>\u00a0– eToro, Senior Market Analyst<\/p>\n

Today’s Highlights<\/h3>\n