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The Fed Will Not Develop a Digital Currency, But Remains Interested In Blockchain The underlying technology that powers digital currency remains more interesting to the Federal Reserve than the development of digital currency, according to comments made by John Williams, president of the San Francisco Federal Reserve Bank. The Fed is actively researching blockchain and ...
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Re 1 note turns 100: A look back at the humble currency's journey Its value has eroded over its lifetime of a century. Today, a rupee can buy very little, may be a toffee. Yet, this sturdy currency has survived two world wars, regularly shedding value till it has practically gone out of use. The British government introduced the one rupee note on November 30, 1917.
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Bitcoin slides amid rollercoaster ride The price of digital currency Bitcoin has fallen by 20% in a period of wild trading since it passed the $11,000 mark a day ago. Bitcoin is now around $9,150, down sharply from the record $11,434 (£8,500) it hit on Wednesday. At its peak, Bitcoin had increased by 1,000% from the $1,000 value at which it ...
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There's a 'fatal' flaw in cryptocurrencies which means they can never be real currencies UBS Wealth Management economist Paul Donovan says that cryptocurrencies like bitcoin can never truly be considered currencies. "A currency has to be a widely used medium of exchange. Cryptocurrencies are never going to achieve that. Period." They fail key tests for what a currency actually is, ...
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