medium of exchange – DIGIT INFO

Bitcoin Lightning Network growth jumps 1,200% in 2 years

A report from the Bitcoin-only exchange River suggests increased Lightning usage will play a key role in Bitcoin becoming a better medium of exchange.

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Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio

The hedge fund manager instead wants to see an “inflation-linked coin” be brought to the masses which would serve to ensure consumers secure their buying power.

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Report: R&B Artist Akon Denies Claims His Crypto City Dream Is Crumbling

Senegalese-American artist, Akon, reportedly reassured participants in his so-called token of appreciation (TOA) that they will be reimbursed for donations. To back this promise, the singer reportedly claimed he is even willing to do “a world tour just to pay them all back.” Akon, however, conceded during an interview that he should “have gotten more […]

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South African Government to Add Crypto Entities to ‘List of Accountable Institutions’

According to the South African government, crypto entities — or businesses whose activities include the exchange or transfer of crypto assets — are set to be included in the list of so-called accountable institutions starting Dec. 19. Businesses that convert one crypto asset to another or that conduct transactions where a crypto asset is transferred […]

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Bank of Jamaica Governor: Cryptocurrency ‘Not Sufficiently Stable to Be a Good Means of Payment’

The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange. Not Stable Enough to Be Good Means of Payment The governor of the Bank of […]

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Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador

According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use […]

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Indonesian Religious Organization Issues Decree Forbidding Use of Crypto by Country’s Muslim Population

Indonesia’s Tarjih Council and the Central Executive Tajdid of Muhammadiyah have issued a fatwa (decree) stipulating the illegality of cryptocurrency use or investment by the country’s Muslims. The fatwa points to the volatility as well as the lack of state backing as reasons why Muslims must avoid investing or using cryptocurrencies. Cryptocurrencies Thought to Be […]

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BCH House Venezuela Shows Real Cryptocurrency Adoption in First Documentary

BCH House Venezuela, an adoption organization, has published its first documentary on social media, where it shows the way in which Venezuelans are using cryptocurrency as a means of exchange. Roberto García, the founder of this initiative, shows us the level of adoption the BCH House initiative has reached in Barquisimeto — a city in […]

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Zanzibar Government Keen to Get Stakeholders’ View on Cryptocurrencies

Zanzibar Government Keen on Getting Stakeholders' View of Cryptocurrencies

Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning […]

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Nigerian CBDC Website Goes Live, Central Bank Faces Trademark Infringement Allegations

According to reports from Nigeria, the official website for the Central Bank of Nigeria (CBN)’s e-naira digital currency is now up and running. The reports come just a few days before the start of the central bank digital currency (CBDC) rollout. E-Naira Similar to Physical Currency An analysis by regional news outlet This Day suggests […]

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