GEAB 156
Cryptocurrencies – Caught in the crossfire // Sport – Big changes ahead // Inflation/currencies – The great waltz // Consumption – After the greenwashing, here comes the localwashing // Oil – Change on the horizon in Venezuela
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Cryptocurrencies – Caught in the crossfire
The crypto war is getting organized. On one side: rich states, their central banks, private banks; on the other, emerging or developing economies, decentralised finance (DeFi), people.
On the side of the rich: on the one hand China is banning cryptos to impose its own central bank digital currency; on the other, Europe and the US are preventing people from taking refuge from inflation in cryptos while their CBDMs are not ready; on a third side, private banks have everything to lose from crypto-currencies as well as from CBDMs but for the time being they pretend to be allied with the States while looking for a way out of this bad situation… or adjusting to it.[1]
On the side of the poor and emerging countries, we find a growing concern of currency devaluation that will impact them first, prompting them to get out of dependence on currencies that are not theirs anyway: El Salvador, [2] Tanzania,[3] India soon maybe[4]…
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