Money Reimagined: China’s ‘Cold War’ Blockchain Strategy

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Which one is the centrally managed police state? Which one is the pro-innovation jurisdiction embracing open-source technologies and decentralized governance networks?

OK. I’m being a tad facetious. The reality is Chinese President Xi Jinping has severely concentrated power. In general, his government, with its Hong Kong crackdown and Uighur detention camps, has encroached upon people’s freedoms more than at any time since Mao Zedong’s rule. Also, the default assumption should be that China’s blockchain vision favors cryptographic backdoors, centralized master keys and transaction monitoring systems more than it does the permissionless, censorship-resistant ideals of those six blockchains – Ethereum, Tezos, NEO, Nervos, EOS and IRISnet. 

You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.

Nonetheless, the contrast between

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These money and investing tips can help protect your portfolio from market shocks

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Don’t miss these top money and investing features:

These money and investing stories, popular with MarketWatch readers over the past week, offer tips on managing your portfolio smartly and effectively. Read about the Trump administration’s effort to eliminate socially responsible index funds from 401(k) and other retirement plans, how socially responsible funds can boost investment returns, why the 60/40 portfolio allocation still makes sense, and how the coronavirus is affecting Americans’ Social Security and retirement expectations.

INVESTING NEWS & TRENDS
The cyclical rotation is here, Jefferies analysts say. For real this time.

The market story of the second half of 2020 will be beaten-down cyclicals outperforming high-flying growth stocks, Jefferies equity analysts say.
The cyclical rotation is here, Jefferies analysts say. For real this time.

Workers should be able to invest their 401(k)s in companies that won’t harm the climate

A proposed rule could mean that the company that manages

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Coronavirus: Money questions to ask your partner in a crisis

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Aaron Clarke is a certified financial planner and wealth advisor at Halpern Financial.

Money can often be a complicated topic with your partner in normal times, but the pandemic has only increased that financial stress for many couples. Even in the best of times, if there is a misalignment of what each person finds important and the couple can’t talk about these differences, it is bound to be a pain point.

Here are a few helpful ways to navigate challenging financial times with your spouse or partner — and maybe even improve your long-term financial picture at the same time.

A couple wearing masks are seen hugging on the sidewalk as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 21, 2020 in New York City. (Photo by Alexi Rosenfeld/Getty Images)
A couple wearing masks are seen hugging on the sidewalk as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 21, 2020 in New York City. (Photo by Alexi Rosenfeld/Getty Images)

Even beyond the traditional “are you a saver or a

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13 Women Reveal How Much They Really Have in Their Savings Accounts at Age 25

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Photo credit: Katie Buckleitner
Photo credit: Katie Buckleitner

From Cosmopolitan

If it feels too weird to ask your friends how much money they have in savings, I get it. Though I believe the world would be a better place if we all were up front about how much we make, spend, and save, we’re not there yet.

So it makes sense if you’re out here turning to Google to figure out whether your savings account balance is within a normal range for your age. But let me clarify something for you real quick: There’s really no magic number of exactly how much cash you should have saved by age 25. “Savings is a very personal thing and varies greatly depending on what you make, what you spend, and how much debt you carry,” says Maria Kapolas-Pollina, financial health digital product solutions lead at Chase.

A good rule of thumb is saving 10 percent of

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Five Realistic Things to Do Right Now to Make Your Money Work for You

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Welcome to #Adulting, the ultimate breakdown of all your grown-up needs. These articles are here to help you feel less alone and answer all your personal, financial, and career questions that weren’t answered in school (no judgement, we get it!). Whether you’re looking to find out how to tackle laundry or you want a deep breakdown on how to make a savings plan—we’ve got you covered. Come back every month to find out what life skills we’re upgrading next and how.

Gather all the personal financial advice you used to receive before the pandemic: The platitudes about not buying lattes or avocado toast. The “challenges” to put aside $1 a week. The admonishments that you should try to buy a home instead of renting one. Stack that advice into a pile, and set it on fire.

Even though none of that is unreasonable advice, it’s certainly not relevant guidance for

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20 Genius Things Mark Cuban Says To Do With Your Money

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You might have heard this billionaire’s name, but who is Mark Cuban and how did he make his money? It’s possible you know him as one of the sharks on the hit show “Shark Tank,” but Cuban is more than just a TV personality — he’s also the owner of the Dallas Mavericks and a successful investor. In fact, Mark Cuban’s companies are so successful that he made his first million in 1990 after selling his business to CompuServe and then earned a $5.9 billion paycheck after he sold his online streaming audio service to Yahoo in 1999.

Cuban knows how to be rich and successful, and he isn’t afraid to share his insight. Check out Mark Cuban’s advice, so you can learn how to budget money and think like a billionaire.

Last updated: July 15, 2020

1. Be a Little Bit of a Risk Taker

Talk to any self-made

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Online school? In-person? How parents are making their own fall 2020 decisions as COVID-19 squabbles continue

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As officials play political football with K-12 school reopenings, parents such as Johanne Davis are formulating their own game plans for the fall.

“To exercise an abundance of caution, I’d like to keep my kids home with me where they’ll study online,” says Davis, a mother of three from Indian Land, South Carolina, one of countless states where COVID-19 cases have spiked in recent weeks.

“Health is the issue, not just for my children, but also school workers,” Davis says. “Teachers shouldn’t have to be front-line soldiers in this pandemic.”

Families across the nation are busy making their own calculations about whether to send children back to school. While Davis seems resolved, many parents are still mulling.

Johanne Davis, left, in a photo with her three children. Davis and her husband say they're both fortunate enough to work from home and can manage the children if they have to spend a lot of next year studying remotely. But she acknowledges that hers is a privileged position not afforded to lower-income parents grappling with child care in order to go off to work.
Johanne Davis, left, in a photo with her three children. Davis and her husband say they’re both fortunate enough to work from home and can manage the children if they have to spend
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‘Instead of the holiday buffet, it’s egg and toast at home’

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My Money is a series looking at how people spend their money – and the sometimes tough decisions they have to make. Here Priya Aiyer from Canterbury in Kent takes us through a week in her life during the coronavirus pandemic.

Priya is 29 and works full-time as an architect for a global construction company. When she’s not designing buildings, her interests include drawing cartoon illustrations and enjoying a good exercise session to train towards becoming a fitness instructor. She is also active in campaigning for racial equality and diversity.

She lives with her fiancé Ben and his mother. She and Ben would have been on holiday in Madeira this week, but it was cancelled due to the pandemic.

Over to Priya…

I would have preferred to spend this week on holiday with Ben. Alas, Madeira was cancelled so have decided to have the week off anyway to refresh. We

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Money Market Funds vs. Money Market Accounts

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When deciding where to save and invest, your choices will depend on your goals, time frame for saving and risk tolerance. A money market fund is one option; a money market account is another. While they sound similar, they actually work very differently when it comes to growing your money over time. Further, only one of these is insured against loss by the FDIC. Understanding the differences between a money market account and a money market fund can help you decide which one to include in your saving and investing plans.

Money Market Fund, Definition

A money market fund is an investment vehicle, rather than a deposit account. You can invest in money market funds through an online brokerage, either inside a tax-advantaged savings account like an IRA or through a taxable brokerage account.

A money market fund is essentially a type of mutual fund that holds other securities, such

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50 Ways You’re Throwing Money Away

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You probably don’t realize all the ways you’re wasting money and leaving free money on the table — and these little missteps can add up to big dollar losses. Fortunately, once you’re aware of these bad money behaviors, you can take steps to change them. Making small tweaks to your lifestyle and spending habits could pay off in a big way.

Keep reading to find out the costly money mistakes you’re making — and how to stop making them so you can keep more money in your wallet.

While layaway might seem like a sensible way to hold onto something you want to buy, it’s not always a smart way to net savings. That’s because layaway locks you into a certain price and — if ultimately financed by a credit card — additional interest charges.

Having a high-interest savings account can help you grow your money and build an emergency … Read More