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    QONEQT in Crypto News

    11-Oct-2022 12:47 PM


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    Economists debunk the banking system and win the Nobel Prize

    Three economists were awarded the Nobel Prize in economic sciences on Oct. 10 for their discoveries which are said to have improved “how society deals with financial crises."
    Tore Ellingsen, the chair of the committee for the prize in economic sciences, said that: “The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts."
    Users are now interested in decentralized finance (DeFi) for the very reason of taking out a middleman between them and their liquid assets.
    According to data from the Basel Committee, banks worldwide own 9.4 billion euros in crypto assets.
    Banks around the world trying to stay relevant with the shift towards digital currencies and the general digitization of money.
    Many are looking into developing their own central bank digital currencies (CBDC).

    Source - Coin Telegraph