The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?

The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?. “China’s sovereign digital currency is still in the testing phase, but has caused speculation about what effect it will have on fintech. Some experts have asserted that the digital currency will crowd out payment methods WeChat Pay and Alipay. Others have stated that China’s sovereign digital currency will boost the fintech industry overall since it is electronic. So, how can we reasonably predict will the effect of the digital currency will be on China’s fintech industry?”

Ticker tape and a binary message: Bank of England’s new Alan Turing £50 must be the nerdiest banknote ever (The Register)

The Register: Ticker tape and a binary message: Bank of England’s new Alan Turing £50 must be the nerdiest banknote ever. “Due to hit circulation on 23 June, the design replaces the relatively short-lived incarnation featuring Matthew Boulton and James Watt. Instead, the update will show the scientist Alan Turing and the Automatic Computing Engine (ACE) he developed….Also celebrating Turing’s imminent arrival on the note is UK agency GCHQ, which has created a set of puzzles that produce 11 words or names to be tapped into the agency’s Enigma machine simulator.”

CoinWeek: Revived ANA Money Museum Exhibit Now Online

CoinWeek: Revived ANA Money Museum Exhibit Now Online. “The ANA Money Museum’s exhibit, ‘Coins, Crown & Conflict: An Exploration of Cromwell’s England’ – originally displayed in 2007-08 – can now be appreciated virtually. The popular exhibit was based on the history of the English Civil Wars and featured some of the great rarities of English coins (including the Petition Crown), as well as a number of early American coins.” The article outlines several other online exhibits available from the American Numismatic Association’s money museum.

A penny pinch: How America fell into a great coin shortage (Washington Post)

Washington Post: A penny pinch: How America fell into a great coin shortage. “When the nation’s coin shortage trickled down to Giant Wash Coin Laundry, chief executive Daryl Johnson plastered his stores with signs urging customers to bring in loose quarters and reprogrammed the change machines at his Minneapolis-area chain to take only smaller bills. At one point, Johnson crossed state lines to head to Omaha on a critical mission to acquire $8,000 worth of quarters from another laundromat owner who had coins to spare.”

A ‘strange effect’ of the COVID-19 pandemic: Coin shortage leaving stores, banks begging for loose change (Mass Live)

Mass Live: A ‘strange effect’ of the COVID-19 pandemic: Coin shortage leaving stores, banks begging for loose change. “When the cash registers ran dangerously low of quarters this month, the owners of Fruit Fair supermarket took the drastic step of raiding their gumball machines. They aren’t alone in seeing coin supplies run dry. With many businesses shut down for months and customers concerned about spreading the coronavirus through cash, people are using coins less frequently — leading to a shortage of pennies, nickels, dimes and quarters in circulation.”

New York Times: Will the Penny Survive Coronavirus? Some Hope Not

New York Times: Will the Penny Survive Coronavirus? Some Hope Not. “A nationwide coin shortage caused by the coronavirus pandemic has revived a debate: Is now the time to eliminate the penny? During lockdowns, consumers have stayed home and avoided emptying their piggy banks of coins in exchange for paper money. Shoppers have also opted to rely on credit and debit cards instead of touching cash.”

BloombergQuint: U.S. Dollar Suffers Its Worst Month in a Decade

BloombergQuint: U.S. Dollar Suffers Its Worst Month in a Decade. “The euro rose the most in a decade this month, the British pound is headed for its best July since 1990, and for the first time this year, every major currency in the world rose against the greenback. A gauge of the dollar against its biggest peers is down 4.4% this month, the worst rout in a decade.”

United States Mint: United States Mint Statement on Circulating Coins

United States Mint: United States Mint Statement on Circulating Coins. “The impact of COVID-19 has resulted in the disruption of the supply channels of circulating coinage – the pennies, nickels, dimes, and quarters that the American people and businesses use in their day-to-day transactions. The United States Mint is part of the solution to this issue, but we need your help as well.”

No cash, please, we’re skittish: How coronavirus has spawned fear of paper money (Los Angeles Times)

Los Angeles Times: No cash, please, we’re skittish: How coronavirus has spawned fear of paper money. “No longer a thing to be shoved mindlessly into a pocket, tucked into a worn wallet or thrown casually on a kitchen counter, paper money has seen its status change during the virus era — perhaps irrevocably. The pandemic has also reawakened the debate about the continued viability of what has been the lifeblood of global economies: physical bank notes and coins.”

United States Mint: United States Mint Launches New Online Education Game “Map Mania”

United States Mint: United States Mint Launches New Online Education Game “Map Mania”. “The United States Mint (Mint) launched its newest educational game Map Mania. This game teaches U.S. geography, helping students to learn the 50 states, state capitals, and state trivia based on the America the Beautiful Quarters® and 50 State Quarters Programs.” Apparently there are a dozen games for kids on the Mint site.

David Strom: Understanding new non-money uses for blockchain

David Strom: Understanding new non-money uses for blockchain. “When it comes to thinking about blockchains, most of us automatically go to cryptocurrencies like bitcoin and Ethereum and think about money. How much are these currencies worth in US dollars? How much value have they gained or lost recently? It took two financially-related but non-monetary examples that I heard about recently to convince me that I was looking at the wrong part of the elephant.”