The Arab Monetary Fund Looks At The Possibility Of Using Cryptocurrency

The Arab Monetary Fund Looks At The Possibility Of Using Cryptocurrency; The Arab Committee for Payment and Settlement Systems of the Arab Monetary Fund discussed in Abu Dhabi the use of digital currencies “Cryptocurrency” and their impact on the payment and settlement systems and the role of the supervisory authorities, supervisory and supervisory.

The meeting addressed the settlement of small payments and issues related to developments in the supervision and control function of payment and settlement systems.

Discussions focused on cross-border remittance and Swift risks, cross-border transfers of small payments, and follow-up on the preparation of the statistical report on payments and settlement in Arab countries.

Arab Monetary Fund

Arab Monetary Fund

The Committee will also hear a presentation by the World Bank on developments

The meeting will also discuss the latest developments in the work of the International Committee on Payment and Settlement Systems (CPMI), in addition to discussing the report issued by the Bank for International Settlements in March 2018 on Cryptocurrency of central banks.

The Committee will also discuss the views of the Arab countries on the issues and developments in the international payment, settlement and coordination systems.

The Committee emanates from the Board of Governors of Central Banks

The meeting of the Committee will be attended by a representative of the General Secretariat of the Gulf Cooperation Council as an observer, together with a representative of the World Bank.

Best 7 Cryptocurrency For Investing in 2019

The Cryptocurrency or digital currency has gained a lot of popularity recently, and due to the volatility of the digital currency market, it requires careful follow-up to find the best digital currencies for investment, where hundreds of digital currencies compete today for leadership and success, but only a few will be successful and acquire value The largest market.

Best Cryptocurrency For Investment in 2019

There are a lot of new Cryptocurrency that appear and rise strongly and then die and disappear. But some lucrative digital currencies have managed to be among the top 10 currencies in the market. Of course, there are currencies that have survived for years and have achieved remarkable results and have exceeded the market value of billions of dollars and there.

Here are Best 7 Cryptocurrency For Investing in 2019 that have a great volume of trading:

Bitcoin BTC

Bitcoin is The largest digital currency in the world in terms of volumes and market value. Last year, Bitcoin witnessed a stunning year, with the value exceeding the $20,000 mark by the end of last year. It is the first decentralized currency and is fully managed by its users and has been supported by many websites and electronic stores characterized by the rapid spread and ease of mining through computers, which is important for conversion speed and low fees.

Bitcoin Cash BCH

The composition of Bitcoin Cash is the currency resulting from the split of Bitcoin, which appeared at the beginning of last August. This Cryptocurrency of Bitcoin assumes the division of the Bitcoin Blockchain record and updates the rules of the agreement, which will allow the encrypted currency to grow and expand. Bitcoin is a new type of virtual asset that allows you to reduce the time spent in e-currency transactions.

Recently, the currency of Bitcoin Cash has risen sharply, reaching the highest level since its emergence. The market capitalization of Bitcoin currently exceeds $24 billion, ranking fourth, preceded by the currency “Bitcoin”, “Ether” and “Ripple”.

Cryptocurrency

Cryptocurrency

Ethereum

Is the second largest and best Cryptocurrency for investment in terms of size and market value and caused a stir worldwide as an Ethereum jumped during the first five months of this year from $ 10 to more than $ 400 per unit. It has grown exponentially and has been adopted by many technology companies such as Microsoft and others. The most important characteristic of Ethereum is that the Blockchain is not designed to be a propulsion system such as Bitcoin but a decentralized solution package that enables applications to operate without a server.

LiteCoin LTC

LiteCoin is the latest digital currency emerging in the digital currency market and has emerged as an evolutionary infrastructure for Bitcoin. LiteCoin took the lead earlier this year when it implemented a new update, enabling it to reduce processing time, and may be applied by other currencies in the future.

Ripple XRP

The New York Times described the ruble as a transit bridge between Western Union and currency exchange, without huge fees, and uses the ruble to link banks, payment services, digital asset exchanges and companies. The digital currency is one of the most important and best digital currencies for investment in the world. With many experts’ testimony, time is the only factor in rising prices in the near future and is likely to replace banks in the future in terms of the speed and ease of remittances.

Cardano

Although recently listed in the market, but managed to be among the top ten currencies in the market in terms of market value ..

But very few people have an idea of ​​what the Cardano project is really interesting, which was created by a good team of developers and they have a clear roadmap to develop a smart contract platform designed to deliver more advanced features than any other existing protocol.

NEO

NEO, this Cryptocurrency is regarded as the Chinese Ethereum, it is similar to Ethereum, in terms of purpose and purpose, with a difference in the target market. Ethereum platform is world-wide and based in Switzerland. The NEO platform was created by Chinese programmers and targeted only to the Chinese market. It currently holds the sixth position in capitalization, with a total market capitalization of more than $7.8 billion. Where it increased by about 1300 times from $0.11 to $140 within one year.

The entry of the new Cryptocurrency NEO into the world’s top ten currencies is a logical event for a Chinese currency that enjoys strong and growing support. It can be said that it contributed significantly to the fever of encrypted currencies last year.

Cancellation of Currencies Around The World

Cancellation of Currencies Around The World The past century has seen several money-laundering operations in countries such as Russia, Pakistan, Zimbabwe, Australia and several other countries. India is the last country to undertake this process in November 2016. India issued a decision to withdraw 500 and 1,000 rupees, which account for more than 70% of the money traded in India

Some countries, such as India, Zimbabwe and some African countries, have recently canceled the treatment of some of their notes and withdraw them completely from the economy. India recently decided to stop dealing with some securities, which The Bitcoin Code Login account for more than 70% of the paper money market in India. To large protests and opposition from citizens and parties as a result of the sudden decision. According to the Indian government, the reason for this decision is to try to fight corruption and illegal enrichment. But this event, which created reactions beyond India’s borders, creates a debate among political and economic elites about the feasibility and effectiveness of the process, which makes the money of many citizens worthless.

Currencies

Currencies

What is the process of canceling money?

Through the demonetization process, governments cancel the nominal value of a banknote or currency (which may also include cancellation of postage stamps), which are dealt with and traded within the country’s borders and issued by the authorities and carry nominal value. This cancellation may also include the country’s official currency (Such as the euro area) because of the central authority’s desire to introduce new currency or change its currency, which means the abolition of the legality of dealing in the currency or old banknote, which entails the replacement of old citizens’ cash against new currencies to be introduced by local authorities To deal with them. When issuing a decision to cancel a banknote or coin, governments will inform the citizens of the decision and grant them a certain period so that they can replace old money with new money. In general, the money is replaced by commercial banks.

Reasons for canceling money

Government authorities cancel a currency or banknote due to various economic reasons, such as inflation control, or as a result of governments trying to reduce corruption, illegal wealth, and unregulated economy, as well as trying to prevent and track the financing of terrorist organizations. For example, 15 countries in 2002 agreed to form what is now the European Union. They have signed several economic and political agreements to facilitate trade, facilitate the movement of citizens, capital and exchange of goods among the countries formed for the Union, Which resulted in the abolition of the official currencies of these countries and their replacement in the euro currency, which is currently the official currency in the countries that form the European Union. Zimbabwe also abolished the country’s official currency in 2015 as a result of the high inflation rate, which led to the collapse of the value of the currency so that the value of the dollar at a certain stage to 2,621,984,228 Zimbabwe dollars! The authorities have therefore abolished the country’s official currency and replaced it with the US dollar and the currencies of some neighboring countries such as the South African Rand, in an effort to curb inflation, halt currency collapse and lose confidence in the local economy.

The process of canceling money in India

The past century has seen several money-laundering operations in countries such as Russia, Pakistan, Zimbabwe, Australia and several other countries. India is the last country to undertake this process in November 2016. India issued a decision to withdraw 500 and 1,000 rupees of banknotes, which account for more than 70% of the money traded in India, which has sparked international controversy among supporters of the Indian government And those who reject the process as a result of the damage of many citizens and fears of negative effects on the economy and the lives of citizens. The Indian government has justified its decision to cancel these notes by trying to combat tax evasion and the unregulated economy so that those who replace large volumes will have to make their money source and how to obtain it, as well as fighting corruption, illegal gain and illegal trade. According to Indian Prime Minister Narendra, India is also seeking to prevent money from reaching terrorist organizations, arms smuggling and human trafficking gangs. According to Moody, the Indian government is seeking to reduce cash flow and to deal with non-cash funds such as electronic payment cards and transactions Which facilitates the tracking of funds and the fight against tax evasion and illegal gain. Despite the Indian government’s justifications that many sides are opposed to this decision so that this process can affect the growth rate of the Indian economy where there can be a shortage of liquidity necessary to accelerate the development and the decline in household spending.

Is The Appreciation Of US Dollar Good Or Bad?

Is The Appreciation Of US Dollar Good Or Bad? The impact of the appreciation of the US dollar; The rise in the value of the US dollar means that consumers in these countries need more local currency to acquire the goods and services manufactured by US companies, which means the weakness of their competitiveness in front of competing companies dealing in currencies of low value, which would hurt the sales of these companies and thus the decline in profitability.

Foreign exchange markets have experienced many changes and fluctuations in recent years as a result of the change in global economic data, especially after the financial crisis witnessed in the world in 2008, which some countries still fall under their influence.

Recent years have seen the dominance of the US dollar as compared to the major currencies in the currency market, such as the British Pound, the Euro and the Japanese Yen.

One US Dollar

One US Dollar


Since 2012 alone, the US dollar has appreciated more than 30% against major currencies.
The reasons for the strength of the US dollar against the currencies of competition
The strength of the US dollar is due to the strength of the US economy and the different monetary policies of the United States and its counterparts in the global economic forces.

At a time when the US economy is seeing a significant improvement in GDP growth, EU countries continue to suffer from several economic and political problems. Growth rates in many EU countries remain close to zero in the uncertainties and uncertainties of the future. The European Union after Britain’s historic decision to withdraw from the Union and break a partnership lasted 4 decades.

Another factor that increases the strength of the US dollar is the variation in monetary policy. Since 2016, the Federal Reserve has started raising interest rates, given the positive economic data relating to the rate of growth and the decline in unemployment rates.

While the European Central Bank continues to pursue a policy of stimulus to keep rates below zero in an attempt to raise inflation and avoid a recession in the economies of European countries.

The same applies to Japan, which, although its economy is much better than that of the European Union, is still pursuing a stimulus policy to make its exports more competitive.
Pros and cons of the appreciation of the US dollar
The appreciation of the US dollar against most major currencies and currencies of emerging economies such as Brazil, India and China is a two-edged sword.

The rise in the US currency is negative for American companies that depend on exports of goods and services abroad because these goods will become higher in other countries.

The rise in the value of the US dollar means that consumers in these countries need more local currency to acquire the goods and services manufactured by US companies, which means the weakness of their competitiveness in front of competing companies dealing in currencies of low value, which would hurt the sales of these companies and thus the decline in profitability.

Which makes Bitcoin Code investors avoid investing in the shares of these companies and the search for other investment solutions.

On the other hand, companies operating within the United States that depend on the import of products and services will benefit from their activities from abroad.

So that the appreciation of the dollar in the foreign exchange market means that the ability of these companies to buy goods and services from other countries will increase, so that these materials will become cheaper, which means reducing the total cost and increase the margin of profitability for these companies.

The same applies to consumers within the United States of America so that the value of products imported from abroad will become cheaper.

Investors in equity markets will therefore direct their investments to non-export-oriented firms and look for companies that rely on the US domestic market and will not be affected by the greenback’s appreciation and most other currencies.