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🚀South Korea's Quantum Leap into Digital Finance: CBDC Pilot for 100,000 Citizens in 2024 Average reading time: approximately 1.5 minutes The Bank of Korea (BOK) is pioneering a digital future with a (Central Bank Digital Currency) CBDC pilot in collaboration with the Financial Services Commission (FSC) and Financial Supervisory Service (FSS). Set for Q4 2024, the initiative aims to revolutionize finance, addressing challenges and exploring digital transaction methods. Pilot Program: 100,000 participants selected by commercial banks will use "deposit tokens" in CBDC form, similar to vouchers. A three-month trial for designated payments. Participant Selection: Commercial banks recruit participants Sept-Oct, ensuring diverse representation. Benefits Over Vouchers: CBDCs address issues in voucher systems, including high fees and fraud risk. Follows BOK's October CBDC experiments with (Bank for International Settlements) BIS. Tech Experiments: BOK plans post-pilot tech experiments, integrating CBDC into carbon trading simulations. South Korea's CBDC leap marks a significant move into the digital era, with global financial implications. Stay tuned for updates. #cbdc #digitalcurrency #financerevolution $ADA $DOGE $XRP

🚀South Korea's Quantum Leap into Digital Finance: CBDC Pilot for 100,000 Citizens in 2024

Average reading time: approximately 1.5 minutes

The Bank of Korea (BOK) is pioneering a digital future with a (Central Bank Digital Currency) CBDC pilot in collaboration with the Financial Services Commission (FSC) and Financial Supervisory Service (FSS). Set for Q4 2024, the initiative aims to revolutionize finance, addressing challenges and exploring digital transaction methods.

Pilot Program: 100,000 participants selected by commercial banks will use "deposit tokens" in CBDC form, similar to vouchers. A three-month trial for designated payments.

Participant Selection: Commercial banks recruit participants Sept-Oct, ensuring diverse representation.

Benefits Over Vouchers: CBDCs address issues in voucher systems, including high fees and fraud risk. Follows BOK's October CBDC experiments with (Bank for International Settlements) BIS.

Tech Experiments: BOK plans post-pilot tech experiments, integrating CBDC into carbon trading simulations.

South Korea's CBDC leap marks a significant move into the digital era, with global financial implications. Stay tuned for updates. #cbdc #digitalcurrency #financerevolution

$ADA $DOGE $XRP

Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.
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#CryptoWisdom from #Crypto OGs (Original Gangsters) A concise guide 1. Start Small, Learn Big Brock Pierce advises beginners to view initial investments as self-investments. As holdings grow, understanding hodling (HODL = Hold On for Dear Life, refers to the strategy of not selling digital assets, even amid extreme price changes in the market) and crypto basics becomes crucial. It's a marathon, not a sprint. 2.  Self-Custody Security    "Not your keys, not your coins" is a vital mantra. Itai Avneri stresses self-custody, emphasizing holding assets securely. Tim Draper adds that #BTC on Ledger (BOL) is the safest personal money. 3.  Diversify and Learn   Pierce advocates diversification, urging advanced users to explore yield farming and #DeFi Andrew Latham stresses diversification across asset classes for surviving market downturns. 4.  High-Conviction Ethereum    Lakov Levin leans on #ETH considering it the foundation for the financial evolution. Staking Ethereum provides a 5% APR in ETH, presenting a unique financial opportunity. 5.  Stop Loss Discipline    Pierce suggests using stop losses in market downturns. Levin emphasizes discipline when using stop losses, recommending a break after a stop-loss event. 6.  Options Trading Sophistication    Options trading, based on the Black-Scholes model, hedges against extreme volatility. Pierce advises caution, as leverage can lead to wealth demise if not used skillfully. 7.  Avoiding Scams    Roger Ying of Crytolock.ai emphasizes education on preventing crypto breaches and detecting illicit transactions. Immediate notification of unintended transactions can prevent losses. 8.  Hodling Wisdom    Pierce recommends cold storage using hardware wallets for safe hodling. 9.  Patience and Conviction    Hodling requires patience and conviction. Andrew Latham advises investing in cryptocurrencies with long-term potential and regularly reviewing holdings. In the dynamic crypto landscape, these insights serve as a compass, helping you navigate volatility wisely. $BTC $ETH $BNB
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Bitcoin's Rollercoaster: Stalled at $38K, Altcoins Find Stability #BTC 's price has hit a plateau, hovering just below $38,000, after a week of volatility fueled by the Binance-US authorities saga. The recent settlement deal and the departure of Binance's CEO, #changpengzhao triggered a dip to $36,600, followed by a rapid recovery to an 18-month high of $38,500. However, the momentum was short-lived, leading to a retracement back to the $38,000 range. Despite the market cap remaining at $740 billion and bitcoin's dominance at 51.3%, altcoins have experienced a more stabilized period. Daily fluctuations show minor losses for XRP, BNB, SOL, and DOGE, while ETH, ADA, AVAX, MATIC, and DOT see marginal gains. Notably, Chainlink and Tron stand out with around a 3% spike. In the weekly landscape, BLUR emerges as the top gainer with a remarkable 70% surge, reaching $0.6. Following closely are STEPN (34%), ApeCoin (30%), MINA (30%), and Klaytn (27%). The overall crypto market cap has seen a slight increase, nearing $1.450 trillion on CMC. As the crypto journey continues, the community awaits the next chapter in the market's unpredictable narrative. #Bitcoin2024 #CryptoMarketPredictions #altcoins $BTC $BLUR $SHIB
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Meet Richard Teng: Binance's New Visionary CEO Richard Teng, a seasoned executive with over three decades of financial and regulatory expertise. From leading Binance Singapore to overseeing global regions, Richard has now taken the reins as Binance CEO. Explore his innovative impact on strategic partnerships, global expansion, and the crypto ecosystem. Prior to Binance, Richard showcased his regulatory prowess as the CEO of the Financial Services Regulatory Authority at ADGM. His background includes key roles at SGX and the Monetary Authority of Singapore. Richard, with a Master's in Applied Finance and a First-Class Bachelor of Accountancy, is steering Binance into the future. #RichardTeng #BinanceCEO #CryptoLeadership #BTC $BNB
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Binance Breakthrough: Resolving Challenges, Paving the Way for a Stronger #cryptoFuture Binance shares resolutions with key U.S. regulatory bodies, marking the end of a transformative chapter. The company embraces responsibility for past compliance lapses, signaling a commitment to a more secure and compliant future. Binance has reached resolutions with U.S. regulatory bodies, acknowledging historical compliance issues. This marks a pivotal moment, allowing the company to turn the page on a challenging chapter of growth. While not perfect, Binance has diligently worked to enhance compliance, security, and transparency, positioning itself as a leader in the industry. The leadership change introduces #RichardTeng as CEO, bringing over three decades of financial and regulatory experience. The company highlights its compliance achievements, such as AML policies and sanctions compliance, along with its proactive cooperation with law enforcement globally. Binance's commitment to transparency is evident in measures like 1:1 asset backing and sharing wallet addresses for SAFU (Secure Asset Fund for Users ). As the #crypto industry evolves, Binance looks to the future with optimism, emphasizing a commitment to building a community and ecosystem that empowers individuals globally. Binance dedicates itself to advancing cryptocurrency education and ensuring the transformative power of blockchain is experienced by more people worldwide. #Binance Binance Reached Resolutions with U.S. Regulators $SOL $LINK $ADA
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Hello Binance Square community! 😃😃😃 👋 Thrilled to join the world's largest crypto community. As a pastor, preacher, and teacher, I'm passionate about motivational guidance and spiritual growth. Outside of my roles, I enjoy dancing tango, playing chess, and exploring languages. Excited to connect with fellow enthusiasts and dive into the fascinating world of crypto. Share your experiences and insights! 🌐💫 #CryptoCatechist #BinanceSquare #CommunityConnection #MyFirstSquarePost
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