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USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021
USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021
Tether (USDT) transactions on the Tron network have outpaced the number of USDT transfers on the Ethereum blockchain. Despite a lot more ERC20-based USDT in the wild, USDT transaction counts using the TRC20 standard have been much higher all year long, likely due to rising ETH network fees. Fees on the Tron network are near zero, whereas ETH transaction fees can exceed $5 range. However, the aggregated dollar volumes of ERC20 USDT is still 2x higher than those using TRC20. USDT is also issued on Ethereum, Tron, Bitcoin Cash, EOS, Liquid, Solana, and Algorand, among others.
#Fintech#CryptoAssets#Stablecoins#Tether#Ethereum#Tron#DFC
·news.bitcoin.com·
USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021
Chengdu is said to give away 50 million digital yuan in latest CBDC test
Chengdu is said to give away 50 million digital yuan in latest CBDC test
Chengdu is reportedly the next place to roll out another city-wide test of China's central bank digital currency (CBDC). The local government will give away 30 million digital yuan and JD.com will give away another 20 million that can be spent on online shopping. The free digital yuan will be issued via a lottery, which is the same with what the Shenzhen and Suzhou have done in previous tests since last October. The lottery is expected to start on January 27 while lottery-winners will be able to spend the free digital yuan in local merchants from February 4 to February 26 throughout the Lunar New Year festival.
#Fintech#CryptoAssets#CBDC#DFC
·theblockcrypto.com·
Chengdu is said to give away 50 million digital yuan in latest CBDC test
Brixton Pound Team Selects Algorand Blockchain to Launch the Tokenized Version of Brixton Pound
Brixton Pound Team Selects Algorand Blockchain to Launch the Tokenized Version of Brixton Pound
Brixton Pound (B£), a local currency used in the Brixton district of London, has selected the Algorand blockchain platform to launch the blockchain-version of the "complementary" currency. B£ is only accepted by merchants the Brixton area of London and the exchange rate to the British pound sterling (GBP) is always 1:1.
#Fintech#CryptoAssets#Stablecoins#Algorand#DFC
·crypto-economy.com·
Brixton Pound Team Selects Algorand Blockchain to Launch the Tokenized Version of Brixton Pound
Central Bank Digital Currency: What is it, and does India need one?
Central Bank Digital Currency: What is it, and does India need one?
"Central banks across the world have started exploring Central Bank Digital Currency (“CBDC”). In a recent survey by the Bank of International Settlements[1], 80% of the 66 banks surveyed were engaged in research and pilot projects related to CBDC, including Canada,[2] USA[3] and Singapore[4]. In fact, as of May, 2020 China has started testing its digital Yuan (Digital Currency Electronic Payment)[5] in four of its states as a part of its attempts to achieve tech-supremacy. Before we dive any deeper, let’s first understand what a CBDC is."
#Fintech#CryptoAssets#CBDC#Primer#DFC
·ikigailaw.com·
Central Bank Digital Currency: What is it, and does India need one?
Digital Cash – Crunchfish
Digital Cash – Crunchfish
Crunchfish’s Digital Cash Solutions are built on two-tier offline vs. online settlement architecture. The heart of the solution is an offline wallet that may either use the secure element provided by the mobile OS or run as a trusted applications in V-OS virtual secure element. The offline wallet securely maintains an offline balance that is utilised for offline transactions. The transactions are cryptographically signed by the payer, assigned to the payee and guaranteed as they are debited against the offline balance. The payee verifies the guaranteed offline payments in an application running on a mobile, card terminal or personal computer. Transaction logs are settled when either party goes online.
#Fintech#CryptoAssets#CBDC#Offline#DFC
·crunchfish.com·
Digital Cash – Crunchfish
Crunchfish and eCurrency join forces to make Central Bank Digital Currency more easily accessible to all
Crunchfish and eCurrency join forces to make Central Bank Digital Currency more easily accessible to all
eCurrency and Crunchfish are partnering to offer an offline central bank digital currency (CBDC) solution. The eCurrency retail CBDC platform enables central banks to issue secure digital bearer instruments utilizing the Digital Symmetric Core Currency Cryptography (DSC3) technology and supporting tiered distribution through existing banking and fintech ecosystems. Crunchfish offers digital cash solutions where payments can be made completely offline without compromising personal privacy.
#Fintech#CryptoAssets#CBDC#Offline#DFC
·news.cision.com·
Crunchfish and eCurrency join forces to make Central Bank Digital Currency more easily accessible to all
BIS Innovation Hub sets out annual work program and launches Innovation Network
BIS Innovation Hub sets out annual work program and launches Innovation Network
The Bank for International Settlements' Innovation Hub (BISIH) set out its work program, focusing on six key areas; suptech and regtech, next-generation financial market infrastructures, central bank digital currency (CBDC), open finance, green finance, and cyber security. The CBDC theme will include a proof of concept platform using multiple wholesale CBDCs to explore the feasibility of faster and cheaper cross-border payments, and a technological research project and associated prototype(s) for tiered retail CBDC distribution architectures.
#Fintech#CBDC#DFC
·bis.org·
BIS Innovation Hub sets out annual work program and launches Innovation Network
Nine-in-ten of all UK in-store card payments made with contactless
Nine-in-ten of all UK in-store card payments made with contactless
The Coronavirus pandemic has cemented the role of contactless as the preferred way to pay in the UK, accounting for nine-in-ten of all elgible card transactions in 2020, according to figures from Barclaycard. In a survey of 2,000 people conducted by Which?, 34% reported being unable to pay with cash at least once when trying to buy something since March, when coronavirus restrictions were first introduced.
#Fintech#Cash#ContactLessPayment#DFC
·finextra.com·
Nine-in-ten of all UK in-store card payments made with contactless
Industry Consultation on Eswatini CBDC
Industry Consultation on Eswatini CBDC
"In 2019, the Central Bank of Eswatini in collaboration with Cenfri conducted the first phase of a four-phase diagnostic study to investigate possible use cases for the implementation of central bank digital currency in Eswatini. The study sought to understand the value that a CBDC would contribute to the Eswatini financial system and whether further exploration of CBDC and potentially conducting pilot-testing would be justified."
#Fintech#CryptoAssets#CBDC#DFC
·centralbank.org.sz·
Industry Consultation on Eswatini CBDC
DeFi payments protocol Celo readies launch of a euro-pegged stablecoin
DeFi payments protocol Celo readies launch of a euro-pegged stablecoin
Celo, a decentralized financial app, is adding a new stablecoin, backed by the Euro. The Euro stablecoin will be backed by a basket of cryptocurrencies that are algorithmically adjusted to maintain a stable price. The Celo Euro is the second stablecoin to launch on the platform after the Celo Dollar (cUSD), launched in June 2020.
#Fintech#CryptoAssets#Stablecoins#Celo#DFC
·theblockcrypto.com·
DeFi payments protocol Celo readies launch of a euro-pegged stablecoin
France to Shut Almost 40% of Cash-Handling Centers
France to Shut Almost 40% of Cash-Handling Centers
The Bank of France will shut down more than a third of its cash handling centers by the end of 2022 as the Covid-19 pandemic accelerates a decline in the use of notes and coins. Operations will cease at 14 of the 37 centers that stock currency and replace damaged notes and coins. The central bank estimates the network would be 40% underused if it remained as expansive as it is now.
#Fintech#Cash#DFC
·bloombergquint.com·
France to Shut Almost 40% of Cash-Handling Centers
Shenzhen to issue 20 million digital yuan in Spring Festival red envelopes
Shenzhen to issue 20 million digital yuan in Spring Festival red envelopes
Shenzhen will issue 20 million digital yuan as part of a pilot program to promote the application of the new form of currency. This is the third time the city will issue the currency in "red envelopes," worth 200 yuan each, via a random draw. In the previous rounds, 10 million yuan and 20 million yuan were issued in October 2020 and early January, respectively. The money can be used for shopping in over 3,500 designated businesses with a digital currency transaction system in place in Longhua District from February 1 to 9.
#Fintech#CryptoAssets#CBDC#DFC
·chinadaily.com.cn·
Shenzhen to issue 20 million digital yuan in Spring Festival red envelopes
Nice one CHAPS: how Bank of England card data are telling us more about consumer spending
Nice one CHAPS: how Bank of England card data are telling us more about consumer spending
The Bank of England is providing the UK Office for National Statistics (ONS) with anonymized and aggregated credit and debit card transaction data to better inform policy-makers about how people have been spending their money. The ONS says the new data wil act as "experimental faster indicators" for monitoring UK purchases. They track the daily CHAPS payments made by credit and debit card payment processors to around 100 major UK retailers, whether it be online, over the phone or in a store.
#Fintech#CBDC#DFC
·blog.ons.gov.uk·
Nice one CHAPS: how Bank of England card data are telling us more about consumer spending
The European Commission and the European Central Bank cooperating on a digital euro
The European Commission and the European Central Bank cooperating on a digital euro
The European Commission and the European Central Bank (ECB) are jointly reviewing at the technical level a broad range of policy, legal and technical questions emerging from a possible introduction of a digital euro. Following the conclusion of the public consultation on January 12, 2021 and a period of preparatory work, the ECB will consider whether to start a digital euro project towards mid-2021. Such a project would answer key design and technical questions and provide the ECB with the necessary tools to stand ready to issue a digital euro if such a decision is taken.
#Fintech#CryptoAssets#CBDC#DFC
·ec.europa.eu·
The European Commission and the European Central Bank cooperating on a digital euro
Tether and Bitfinex seek further 30 days to produce critical trial documents
Tether and Bitfinex seek further 30 days to produce critical trial documents
iFinex Inc, the parent company of Bitfinex and Tether, has asked the New York Supreme Court to push back its trial date again, and another 30 days to produce the documents demanded by the Office of the Attorney General (NYAG). The document production process was originally supposed to be completed by December 16, 2020, which was subsequently extended to January 15. The new request noted that a “substantial volume” of material had already been handed over to the OAG, but that there remained “supplemental agreed-upon items” that still had to be sourced. The legal battle extends back to April 2019, when the NYAG alleged that Bitfinex had attempted to cover up the loss of $850 million of customers’ funds by taking illegal loans from Tether.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·cointelegraph.com·
Tether and Bitfinex seek further 30 days to produce critical trial documents
Canadian Retail Central Bank Digital Currency Considerations
Canadian Retail Central Bank Digital Currency Considerations
Payments Canada has published Central Bank Digital Currency (CBDC): Retail Considerations, the latest in a series of educational papers on CBDC. This paper explores the design considerations for implementation of a retail CBDC in the Canadian payments environment. A retail CBDC is aimed to take on traditional attributes of physical cash and would be used by consumers and businesses (relative to wholesale CBDC, which would be used by financial institutions).
#Fintech#CryptoAssets#CBDC#Canada#DFC
·payments.ca·
Canadian Retail Central Bank Digital Currency Considerations
Does Tether Printing Cause Bitcoin Price Movement?
Does Tether Printing Cause Bitcoin Price Movement?
It has been speculated that Bitcoin price is manipulated by Tether issuance printing itself into existence. The results presented in the appendix indicate that — whilst the Tether printing and Bitcoin price series are cointegrated (and thus tied together intrinsically), Tether printing does not Granger cause Bitcoin price movement. However it does provide evidence to show that Bitcoin price does Granger cause Tether printing, which is a reasonable alternative hypothesis for the apparent relationship.
#Fintech#CryptoAssets#Bitcoin#Stablecoins#Tether#Bitfinex#DFC
·btconometrics.medium.com·
Does Tether Printing Cause Bitcoin Price Movement?
China’s blockchain project BSN to pilot global CBDC system in 2021
China’s blockchain project BSN to pilot global CBDC system in 2021
China's government-backed Blockchain Service Network (BSN) is building a universal digital payment network (UDPN) to integrate various countries' central bank digital currencies (CBDC). Currently at the design stage, the beta version of UDPN is expected to launch in the second half of 2021. The BSN plans to complete the UDPN development in five years. With the UDPN, the BSN aims to enable a standardized digital currency transfer method and payment procedure. The new system intends to bring together systems like banking, insurance, enterprise resource planning and mobile apps through APIs to provide a cost-effective global payment solution.
#Fintech#CryptoAssets#Blockchain#CBDC#DFC
·cointelegraph.com·
China’s blockchain project BSN to pilot global CBDC system in 2021
Larry Cermak and Bennett Tomlin debate Tether’s solvency—transcript with notes
Larry Cermak and Bennett Tomlin debate Tether’s solvency—transcript with notes
Avid bitcoiner Peter McCormack released a podcast interview with two Tether/Bitfinex frontmen today—CTO Paolo Ardoino and General Counsel Stuart Hoegner. McCormack is a well-known Tether apologist whose podcasts are funded almost exclusively by bitcoin companies. Tether is also paying his legal fees in a libel suit brought against him by Craig Wright. Despite that, McCormack claims to be completely objective, although he makes it clear he believes all the “Tether FUD” circulating on Twitter stems mainly from “salty nocoiners,” who are upset because everyone is getting hilariously rich with bitcoin but we’re not.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·amycastor.com·
Larry Cermak and Bennett Tomlin debate Tether’s solvency—transcript with notes
The Bit Short: Inside Crypto’s Doomsday Machine
The Bit Short: Inside Crypto’s Doomsday Machine
The legitimate crypto exchanges, like Coinbase and Bitstamp, clearly know to stay far away from Tether: neither supports Tether on their platforms. And the feeling is mutual! Because if Tether Ltd. were ever to allow a large, liquid market between Tethers and USD to develop, the fraud would instantly become obvious to everyone as the market-clearing price of Tether crashed far below $1.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·crypto-anonymous-2021.medium.com·
The Bit Short: Inside Crypto’s Doomsday Machine
Ant Financial quietly conducted a digital yuan test in Shanghai via AliPay
Ant Financial quietly conducted a digital yuan test in Shanghai via AliPay
Ant Financial has quietly conducted a small-scale limited-time test of digital yuan via its AliPay mobile payment app in two tea stores at a shopping mall next to its Shanghai headquarters. This is the first known instance where China's digital yuan was tested inside a mobile app that's developed by a non-state-owned entity.
#Fintech#CryptoAssets#CBDC#DFC
·jiemian.com·
Ant Financial quietly conducted a digital yuan test in Shanghai via AliPay
Tether's Bank Says It Invests Customer Funds in Bitcoin
Tether's Bank Says It Invests Customer Funds in Bitcoin
Deltec, Tether’s Bahamas-based bank, is investing customer funds in bitcoin, which raises new questions about whether the dollar-pegged USDT stablecoin, which is in theory backed by cash and “cash equivalents,” as well as “other assets and receivables made by loans,” is actually backed in any way by bitcoin. However, Deltec hasn’t divulged which clients it’s holding Bitcoin for, as Tether isn’t Deltec’s only customer. In fact, at least one other crypto company seems to use it as well, crypto derivatives exchange FTX.
#Fintech#CryptoAssets#Stablecoins#Tether#DFC
·coindesk.com·
Tether's Bank Says It Invests Customer Funds in Bitcoin
ECB digital euro consultation ends with record level of public feedback
ECB digital euro consultation ends with record level of public feedback
The European Central Bank (ECB) concluded the digital euro public consultation that was launched in October 2020. 8,221 citizens, firms and industry associations submitted responses to an online questionnaire, a record for ECB public consultations. An initial analysis of raw data shows that privacy of payments ranked highest among the requested features of a potential digital euro (41% of replies), followed by security (17%) and pan-European reach (10%). The ECB will publish a comprehensive analysis of the public consultation in the spring.
#Fintech#CryptoAssets#CBDC#DFC
·ecb.europa.eu·
ECB digital euro consultation ends with record level of public feedback
Is CDBC the key to unlocking financial inclusion?
Is CDBC the key to unlocking financial inclusion?
Developed nations contemplating issuing CBDCs are apparently doing so primarily for financial stability and monetary policy reasons. However, a stronger case can arguably be made for the issuance of CBDC in developing economies. According to Jean-Michel Godeffroy, Chairman of the Central Bank Payments Conference and former Director General of Payment Systems and Market Infrastructure at the European Central Bank, ‘in many developing countries there is insufficient competition between banks, as well as a very loose network of bank branches and little or no deposit insurance. The business case of CBDC in developing countries is probably stronger than in most developed countries; in these parts of the world, the issuance of CBDC in parallel to banknotes could enhance economic growth and financial inclusion’.
#Fintech#CryptoAssets#CBDC#FinancialInclusion#DFC
·thepaypers.com·
Is CDBC the key to unlocking financial inclusion?
Tether’s Paolo Ardoino and Stuart Hoegner do a podcast
Tether’s Paolo Ardoino and Stuart Hoegner do a podcast
Avid bitcoiner Peter McCormack released a podcast interview with two Tether/Bitfinex frontmen today—CTO Paolo Ardoino and General Counsel Stuart Hoegner. McCormack is a well-known Tether apologist whose podcasts are funded almost exclusively by bitcoin companies. Tether is also paying his legal fees in a libel suit brought against him by Craig Wright. Despite that, McCormack claims to be completely objective, although he makes it clear he believes all the “Tether FUD” circulating on Twitter stems mainly from “salty nocoiners,” who are upset because everyone is getting hilariously rich with bitcoin but we’re not.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·amycastor.com·
Tether’s Paolo Ardoino and Stuart Hoegner do a podcast