EddieJayonCrypto
17 Oct 22
• China wants to introduce an Asia-wide CBDC, the digital yuan, in an effort to displace reliance on the US Dollar• North Korean hackers, The Lazarus Group, is going to war and have their sights set on Japanese crypto companies• South Korea could be headed toward implementing digital IDs to replace ...
• China wants to introduce an Asia-wide CBDC, the digital yuan, in an effort to displace reliance on the US Dollar• North Korean hackers, The Lazarus Group, is going to war and have their sights set on Japanese crypto companies• South Korea could be headed toward implementing digital IDs to replace ID cards• Bitcoin miner Digihost is at risk of being delisted on Nasdaq having traded below $1 for 30 consecutive days; so are 2 others• Coinbase snatched Daniel Siefert from Solarisbank, a German fintech, to lead their European expansionThere are some move afoot that could lead to some big macro events. Here is what is on my mind today.1. China is looking to change the world order though the creation of a digital yuan. This would be different as they want the CBDC to span all of Asia. The US Dollar is arguably the most widely used currency and Asia's reliance on the dollar is seen as a weakness by China's leader, Xi Jinping. With Japan having to step in for the Yen and other economies taking a downturn, I wonder if this would actually be adopted the way he would like. 2. North Korea is at war and they have been attacking Japanese Crypto companies. The Lazarus Group, widely known as the hacker arm of North Korea, is targeting crypto companies in Japan according to reports from Japan's National Police Agency. Attacks against Japanese crypto companies over the weekend, I suspect, these are just probing attempts before more concerted and focused attacks begin. 3. South Korea could be headed toward implementing digital IDs to replace ID cards. Leveraging block chain technology to pull this off would be the ideal situation, but more research must be conducted to ensure the benefits outweigh the risks. South Korea has been making big bets on blockchain and related technologies, like the Metaverse, to spur innovation and economic growth. Digital IDs could definitely be something that would take off in the technology savvy country. 4. We all know Bitcoin miners have not been doing all too well as of late. Digihost is no different and is running the risk of being delisted from Nasdaq. The stock has been trading below $1 for the last 30 consecutive days. BIT Mining is also in the crosshairs on Nasdaq with Mawson Infrastructure Group being in the same position on the NYSE. 5. Bloomberg is reporting that Coinbase has snatched Daniel Siefert from Solarisbank, a German fintech, to lead their European expansion. When doing business in Europe there is a path of least resistance and it starts in the Netherlands where Coinbase was licensed back in September. They are now seeking licensing in France and Spain. We have been paying attention to moves by Coinbase who seems to be looking to regain some global stature.