Crypto makes Davos agenda again

Cryptocurrencies will make the agenda during the World Economic Forum in Davos.

The forum will feature two panels on cryptocurrency and it will discuss digital assets issued by central banks which have been an increasingly popular topic.

The session entitled Resetting Digital Currencies will feature banking heavyweights, such as Bank of England Governor Andrew Bailey and Western Union president and CEO Hikmet Ersek.

With covid-19 signalling a readiness among countries and consumers to shift away from physical cash, central banks are now considering issuing digital currencies in a bid to slash the rate of infections as well as bring in more regulatory and financial clarity in these new assets.

The main question, as outlined by the Forum, is: “What policies, practices and partnerships are needed to leverage the opportunities posed by the rise of digital currencies?”

Due to a lack of regulatory clarity, cryptocurrencies often find themselves in a difficult position, as seen in the case of Ripple.

Meanwhile, the Forum already has a working group that is actively studying cryptocurrencies in a bid to see if they can be phased in circulation organically.

As the organization puts it, the hidden potential of blockchain technology can reveal new values of legacy digital systems.

Central bank digital currencies (CBDCs) have been a hotly-discussed topic of late. The ECB asked the public to weigh in on digital currencies. Meanwhile, the Federal Reserve Bank of Cleveland has acknowledged that it may be even running late with the adoption of CBDCs, or even concepts to do so.

It's in this context that the price of Bitcoin has increased, benefiting not least casino players who are now enjoying bigger wins at Bitcasino, 1xBit and FortuneJack, thanks to the increased value of each BTC bet they place.

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Written by Barney


Barney is co-founder of When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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