Wed, Jun 3, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Digital fiat currencies are coming, but they won't sideline Bitcoin

Tuesday, January 28, 2020

Bailey McCann, Opalesque New York:

More governments are considering digital fiat currencies. However, none of them are fully developed yet. Delegates at the recent Opalesque Miami Roundtable offered their ideas about where digital fiat currencies might pop up first and whether they will succeed.

"I believe the US is going to have digital currency quicker than we think," said Gregory Keough, Founder of Blockchain Credit Partners. "They will need to do it because they have to inflate out of the debt."

Keough argues that negative interest rates will force the US into digital currency as financial engineering comes to an end. "It's going to be a killer app for government," he says. "They are going to know who has it, when they have it, where they moved it, how you tax it, it's like the ultimate bad thing and they are going to have to do it because it's the only way out of the immense global debt situation."

Keough notes that China has also spent a lot of time on a workable digital currency. Alipay already provides an infrastructure that could be adaptable for some type of digital currency, for example.

Gary R Markham, CEO of aXpire echoes Keough's comments on China and adds that India is also headed down a similar path. Although India's efforts to shift its significant unbanked population over to banking and payments services has been bumpy, Markham thinks the country is playing the long game and will eventually move to a more sophisticated digital f......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. PE/VC: How Covid-19 could reshape private equity fundraising, The private equity bet that coronavirus cut short[more]

    How Covid-19 could reshape private equity fundraising From Asian Investor: The pandemic looks may have led to greater use of remote capital-raising but might it also encourage investors to establish more overseas offices? The coronavirus outbreak has inevitably hit the amount of mo

  2. Investing: Millennium hedge fund ups bet against Bank of Ireland, Value rotation was the last thing big funds thought would happen, Al Gore's firm sold Amazon and Microsoft stock. Here's what it bought.[more]

    Millennium hedge fund ups bet against Bank of Ireland From Independent: US hedge fund Millennium International Management has raised its bet against Bank of Ireland's shares. It comes as Davy says 2020 will be a write-off for banks, with losses across Irish lenders of €4bn. M

  3. PE/VC: Private equity in the Covid-19 crisis, Carlyle's Africa dealmakers leave to start their own buyout firm, UK asset managers plan shift to off-market strategies including private equity[more]

    Private equity in the Covid-19 crisis From Morning Star: Private equity investment trusts invest in unquoted companies not yet listed on the stock market. How have they fared in the sell-off? Investment trusts have been caught up in the market turmoil of recent months and private equit

  4. New Launches: Apeira Capital seeks $200m for hedge fund-like bets, PIMCO filing reveals ESG fund launch could be ahead, BEA Systems co-founder launches venture fund, Salesforce Ventures launches $125m Europe Trailblazer Fund, The D. E. Shaw group closes first onshore China investment fund, Legg Mason and ClearBridge launch non-transparent ETF, Hong Kong-based asset manager MaiCapital launches actively managed bitcoin hedge fund[more]

    Apeira Capital seeks $200m for hedge fund-like bets From Bloomberg: Natalie Hwang, the former head of Simon Property Group Inc.'s venture capital arm, has launched a new firm and is seeking $200 million for a debut fund. Hwang has been discussing the vehicle with prospective investors, ac

  5. New Launches: Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt, Amundi unveils eight new funds as part of ESG ETF range push, Mezzanine Management gears up for direct lending fund[more]

    Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt From Reuters: Hedge fund Angelo Gordon & Co aims to raise as much as $1.5 billion to buy the debt of distressed oil and gas companies, according to a person familiar with the matter and an investor presentation viewed by R