The most important crypto news of the week

The most important crypto news of the week

Facebook renames the Libra; An assessment of the ECB’s digital euro; Ethereum 2.0 euphorises the community; Bitcoin on the radar of BlackRock and Spotify seeks a crypto expert.

Another exciting week in Crypto Genius vspace is drawing to a close. Many exciting events have taken place and those that have interested our readers the most can be found in a compact overview.

Facebook renames the Libra

As stated in a press release on Tuesday, the planned Stablecoin from Facebook now has a different name. According to the Libra Association, the crypto-currency will henceforth be called “Diem”. Accordingly, the organisation is also adapting to the new name. There was also a change in the management. Stuart Levy is the new CEO of the Diem Association since 01 December. With this realignment, Facebook aims to address any regulatory concerns in advance.

Assessment of the ECB’s digital euro

On Wednesday the European Central Bank published the long-awaited report on the digital euro. In the document, the ECB stresses that it has not yet decided whether a digital euro will actually be introduced. At the same time, however, the central bank stressed that it is ready to introduce a digital euro “if the need arises”. Three decisive key aspects are essential for a correct interpretation of the report First, the digital euro is not digital cash. Second, the ECB neglects the aspect of programmability. Thirdly, intermediaries will also play an important role in the digital euro.

Ethereum 2.0 euphorises the community

The biggest update in Ethereum history went as planned. After years of work, the Genesis block of the ETH 2.0 Beacon Chain has finally seen the light of day. The biggest change is the introduction of the proof-of-stake mechanism. The anticipation of the big upgrade has really euphorised the community and is reflected accordingly in the Ethereum exchange rate, which is currently at 600 US dollars. ETH owners worldwide had stocked up on the 32 ETH that were needed to participate in the staking process. Crypto exchanges such as Binance and Coinbase had announced in advance that they would offer a staking service.

Bitcoin on BlackRock’s radar

Larry Fink, chairman of BlackRock, told a US think tank event that Bitcoin had appeared on the radar of the world’s largest asset manager. There he attributed enormous potential to the crypto currency and already noted effects on the US dollar. BlackRock is not the first major asset manager to see potential in crypto currencies. The Fidelity report published in October also recognised the potential offered by Bitcoin and the rest of the crypto space.

Spotify gets serious

The music streaming service Spotify is looking for a new Associate Director for the Payment Strategies and Innovations department with proven expertise in crypto space. The focus of the position will be the application of well-known crypto technologies such as blockchain for Spotify’s business. In addition, crypto currencies in general, as well as stablecoins and digital central bank currencies (CBDC) and other digital assets also fall within the employment scope of the post. Spotify is part of the Facebook consortium around “Diem”. With the job advertisement, Spotify shows that crypto-currencies could obviously play a role for the company in the future.