2023-11-23

🐭 CBDC Test: Who Are the Lab Mice?

November 23, 2023

Howdy Folks,You know the market looks good when a news item forces a big dip, only to be completely erased the following day.

Let's take the plunge!

🌐 Digital Currency Pilot Launch
💳 Swiss City Embraces Digital Wallets
💰 From Netflix Budget to Crypto Fortune

🇰🇷 South Korea Tests CBDC with Citizens

South Korea is set to test a Central Bank Digital Currency (CBDC) with 100,000 citizens in 2024, stepping into the digital currency realm. 🚀💳

In collaboration with financial regulators, the Bank of Korea (BOK) will run this pilot, potentially in Jeju, Busan, or Incheon.

Participants will use CBDC tokens for purchases, exploring the practical use of digital currency in daily transactions. 🛒📱Ooh, this will be very interesting!The pilot aims to tackle issues like high fees and fraud in current government grant systems.

This initiative reflects a global shift towards digital currencies, responding to the decline in cash usage and the rise in digital payment preferences. 🌍💡Following its 2021 CBDC tests, South Korea's move positions it at the forefront of this emerging financial landscape.In a new landscape, new giants will emerge!

🇨🇭 Lugano Integrates Polygon for Crypto Payments

Lugano, the financial hub of Italian-speaking Switzerland, is stepping into the future by weaving the Polygon Proof-of-Stake (PoS) protocol into MyLugano, its crypto-friendly payment app. 🌐📲

The enhanced MyLugano app will now feature a multichain digital wallet, fostering personal custody with several tokens and plans for more.Polygon, already collaborating with Lugano for its stablecoin LVGA since 2022, fortifies this partnership by providing the infrastructural backbone. 💼💡

In a fusion of art and technology, MyLugano is also launching an NFT collection featuring artist Yuri Catania’s work, tokenized on the Polygon network. 🎨🔗Can no one do anything without adding an NFT collection? 🤣Lugano stands at the forefront of crypto adoption, with the MyLugano app, developed alongside Tether, already serving nearly half the city's population.The administration's vision extends beyond payments to local traders, eyeing a future where cryptocurrencies are as commonplace as fiat for all goods and services. 🚀🛒Ah.. a vision of the future... but in the present!

The city's embrace of digital currencies represents a significant leap toward mainstream crypto acceptance, setting a precedent for others to follow. 🇪🇺💼

🎥 Director’s Dogecoin Bet Nets Millions

Carl Erik Rinsch, director of Netflix's "Conquest," reportedly turned $4 million of the show's budget into a staggering $27 million via a Dogecoin bet, as per a report by The New York Times. 🚀🎬

Initially given $55 million by Netflix, Rinsch received an additional $11 million but veered off course.Before pivoting to crypto, he dabbled in the stock market with $10.5 million, losing nearly $6 million. His all-in Dogecoin investment on Kraken dramatically multiplied, netting him a fortune. 📈🐕Absolutely NOT financial advice!

Rinsch’s extravagant post-win spending spree allegedly included luxury goods and high-end vehicles, purportedly for the show.Now facing arbitration against Netflix, he claims the streaming giant owes him $14 million more, a claim Netflix staunchly denies. 🛍️🚗Oh... that's pretty ballsy!! 🫣

This unfolding drama blurs the lines between filmmaking and finance, as Rinsch's risky crypto gamble becomes a subplot in his professional narrative with Netflix.The final act of this saga hinges on the upcoming arbitration ruling. 🎭🔍