Digital Currency — Rethinking Money

Wed, 24 June 2020 10:37

Digital money is changing the way businesses and individuals transact. With reduced queues and wait times, digital currency offers a quicker and safer way of exchanging money. Further, being contactless, it has enhanced the ease of doing business like never before. While the government sector and enterprises are expected to benefit the most from the roll-out of digital currency, other sectors, such as food and beverage, and retail, are also expected to reap incredible gains.

Use of Digital Currency in Recent Developments across Application Sectors for Greater Process Efficiency

Technological advancements in both digital money and its application sectors and their synchronous adoption will drive the digital currency market. For instance, a digital sensor installed on a farm can detect that it needs more fertilizer in a certain area; it can then automatically send a digital payment to a fertilizer company, which upon receipt ships fertilizer to the farm. Thus, the adoption of the right technologies here can bring about greater efficiency in the entire process with minimal intervention.

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Advent of the Digital Dollar, Digital Yuan, and Digital Euro

The U.S. has proposed the ‘digital dollar’ in an early draft of its coronavirus-induced stimulus bill to make payments to people and businesses hit by the economic turmoil. While the U.S.’s plans for the digital dollar have been temporarily swept aside, other countries are significantly taking lead. China's digital Yuan is set to make its way toward the global platform with an aim to defeat the dollar, and now a digital euro is being tried by France's central bank. Banque de France recently launched an experimental program to test the integration of digital euro. The program is designed to measure both the potential of decentralized technologies and broader uses of central bank digital currencies.

Recent Development: AAX’s Exchange Token, AAB

In March 2020, Europe-based AAX, the next-generation crypto exchange, announced the launch of its native exchange token, AAB. With an aim to connect crypto to global finance, AAX is introducing a series of innovative financial instruments, such as tokenized commodities, indices, Bitcoin dimension products, social trading programs, and security tokens. AAB also enables traders to engage these novel instruments and share in the growth of the exchange. In terms of utility, AAB can be used to:

  • Enjoy up to 50% discount on all spot and futures trades
  • Unlock exclusive services and facilities, trading bots, trading signals, and other premium offerings
  • Maximize returns on lending, saving and staking products, and borrow at a discount
  • Gain access to AAX’s unique financial products and programs

Digital Currency Market Segmentation

By Technology

  • IT Solution
  • FinTech
  • Bank
  • Consulting
  • Exchange
  • Others

By Application

  • Government
  • Enterprise

By Region

  • North America
  • Europe
  • Asia-Pacific
  • SAMEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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