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Central Bank Digital Currency: an innovation in payments
Central Bank Digital Currency: an innovation in payments
An R3 white explores proposed CBDC models and applications from across the globe, and examines technologies for different implementations based on recent engagements with central banks and payment infrastructure providers. It discusses use cases that CBDCs are solving, the benefits they may unlock, minimum viable ecosystems, the difference between the hybrid, synthetic and direct models, and the technologies, including blockchain, that are being considered.
#Fintech#CryptoAssets#CBDC#Haiti#DFC
·r3.com·
Central Bank Digital Currency: an innovation in payments
Embedded supervision: how to build regulation into Libra 2.0 and the token economy
Embedded supervision: how to build regulation into Libra 2.0 and the token economy
Taking the example of the revised proposal for the Libra global stablecoin, this column describes how supervisors could harness information in distributed ledger based-finance via “embedded supervision.” The aim is to increase the quality of data available to supervisors and reduce administrative costs for firms. The policy note concludes by discussing legislative and operational ways to promote low-cost supervision and a level playing field for small and large firms.
#Fintech#CryptoAssets#Stablecoins#Facebook#Supervision#Libra#DFC
·suerf.org·
Embedded supervision: how to build regulation into Libra 2.0 and the token economy
Digital Dollars Can Reduce Unemployment, Here's How
Digital Dollars Can Reduce Unemployment, Here's How
@MMPrts proposes a unique CBDC that reverses the process by which money is created and put in circulation. The "MttP" would be issued by employers as wages. Banks would have to accept payments in MttP or exchange MttPs for dollar balances in bank accounts at face value. Banks would redeem MttPs at the central bank in exchange for reserves.
#Fintech#CryptoAssets#CBDC#DFC
·coindesk.com·
Digital Dollars Can Reduce Unemployment, Here's How
What is Synthetix? A 3-minute guide to the trading platform
What is Synthetix? A 3-minute guide to the trading platform
Synthetix is a token trading platform built on Ethereum. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Synthetix started as a stablecoin project called Havvenout, before pivoting to DeFi. Much of Synthetix’ recent success can be attributed to its innovative token incentive model. SNX holders stake SNX in return for fees from the Synthetix exchange and rewards from the system’s inflationary monetary policy.
#Fintech#CryptoAssets#Stablecoins#DeFi#Synthetix#DFC
·decrypt.co·
What is Synthetix? A 3-minute guide to the trading platform
Telegram’s Blockchain OS Could Soon Appear in App Stores
Telegram’s Blockchain OS Could Soon Appear in App Stores
The Telegram Open Network (TON) operating system (OS), an end-to-end open-source infrastructure that allows developers and users to work with the TON blockchain, will reportedly soon be available on smartphones and personal computers for mainstream users. TON OS is not an alternative to existing operating systems, but will serve as an add-on for devices, making them able to support blockchain applications. This is despite Telegram’s ongoing legal battle against the U.S. SEC. (Telegram is seeking to appeal a U.S. federal court’s ruling in favor of the SEC to halt the distribution of the platform's native Gram tokens.)
#Fintech#CryptoAssets#Blockchain#Telegram#Stablecoins#DFC
·cointelegraph.com·
Telegram’s Blockchain OS Could Soon Appear in App Stores
Checkout.com joins the Libra association
Checkout.com joins the Libra association
Checkout.com will join the Libra Association in developing its series of stablecoins. Libra was announced last year as an effort to create a single global currency that could expand financial services to anyone who had a smartphone and an internet connection, though some of these ambitions have since been scaled back.
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·checkout.com·
Checkout.com joins the Libra association
Protecting the continuity and safety of payments during the coronavirus crisis
Protecting the continuity and safety of payments during the coronavirus crisis
"A high-level ECB task force is currently examining the pros and cons of introducing a digital euro, which could be used by intermediaries or even by citizens through their electronic devices for their day-to-day spending needs. However, our analysis of the opportunities and challenges of CBDC should not discourage or crowd out market-led initiatives aimed at introducing private electronic means of payment with similar features in terms of user needs."
#Fintech#CryptoAssets#CBDC#PaymentSystems#FastPayments#Pandemic#DFC
·ecb.europa.eu·
Protecting the continuity and safety of payments during the coronavirus crisis
Digital Banking: Argentinians are Increasingly Using Online and Mobile-based Apps for Everyday Transactions Due to COVID-19
Digital Banking: Argentinians are Increasingly Using Online and Mobile-based Apps for Everyday Transactions Due to COVID-19
In Argentina, where most people prefer to make cash payments, a strict nationwide lockdown (due to COVID-19) has forced local consumers into considering digital banking and online payments options.
#Fintech#Cash#Payments#MobileMoney#Pandemic#DFC
·crowdfundinsider.com·
Digital Banking: Argentinians are Increasingly Using Online and Mobile-based Apps for Everyday Transactions Due to COVID-19
How to regulate Libra 2.0 and the token economy
How to regulate Libra 2.0 and the token economy
The rise of stablecoins and asset-backed tokens could drive the development of financial markets via new forms of transparency and data credibility. This column uses the revised proposal for the Libra global stablecoin as an example to illustrate possibilities for supervisors to harness information in distributed ledger based-finance via ‘embedded supervision’. The aim is to increase the quality of data available to supervisors and to reduce administrative costs for firms.
#Fintech#CryptoAssets#Stablecoins#Facebook#Regulation#Libra#DFC
·voxeu.org·
How to regulate Libra 2.0 and the token economy
The US Postal Service should be allowed to deliver low-cost financial services to poor and rural communities
The US Postal Service should be allowed to deliver low-cost financial services to poor and rural communities
U.S. Senator Kirsten Gillibrand introduced the Postal Banking Act that would grant the U.S. Postal Service (USPS) the power to provide basic financial services, including low-cost small loans, small checking accounts and interest-bearing savings accounts (alone or in partnership with depository institutions), transactional and remittance services, and other basic financial services in the public interest. However, the USPS would not be granted a bank charter, or become an insured depository institution.
#Fintech#CBDC#Pandemic#DFC
·congress.gov·
The US Postal Service should be allowed to deliver low-cost financial services to poor and rural communities
Central bank digital currency: Central banking for all
Central bank digital currency: Central banking for all
"The possibility and logistics of developing a central bank digital currency for the general public has attracted significant attention. Such an initiative would require central banks to be involved in financial intermediation and maturity transformation. This column explores the implications of such a venture by central banks using a classic banking model. With sufficient competition, a central bank digital currency can be beneficial and achieve the optimal allocation of funds. However, it also risks giving central banks excessive monopoly power, which could result in inferior outcomes."
#Fintech#CryptoAssets#CBDC#DFC
·voxeu.org·
Central bank digital currency: Central banking for all
Issue digital cash or lose trust in money, report warns
Issue digital cash or lose trust in money, report warns
This "Positive Money" report explains how a central bank digital currency could be introduced to give policymakers more effective tools to support the economy, particularly during times of crisis such as the coronavirus pandemic, while maintaining financial stability.
#Fintech#CryptoAssets#CBDC#DFC
·positivemoney.org·
Issue digital cash or lose trust in money, report warns
Will Libra Live Up To Its Initial Ambitions?
Will Libra Live Up To Its Initial Ambitions?
According to Binance, Libra’s envisioned global payment system could do to the payment industry what SpaceX did to the space industry: shake the foundations of a well-established sector with high entry barriers. The mere advantage of issuing widely-available programmable money would already initiate manifold efficiency gains.
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·research.binance.com·
Will Libra Live Up To Its Initial Ambitions?
CBDC: Considerations for the Digital Euro
CBDC: Considerations for the Digital Euro
While the development of a digital Euro will likely take extensive planning, the potential merits further exploration. This report explores the various technical choices and their benefits or deterrents. It concludes that a blockchain based CBDC has the potential to greatly improve speed, security, privacy, and efficiency. The decentralised nature of blockchain, while difficult to implement with a centralised financial system, provides enough new possibilities that it merits serious consideration.
#Fintech#CryptoAssets#CBDC#DFC
·dgen.org·
CBDC: Considerations for the Digital Euro
Why MakerDAO Should Consider Negative Interest Rates for Dai
Why MakerDAO Should Consider Negative Interest Rates for Dai
Since COVID-19 smashed into markets on March 12 the price of Dai skyrocketed as high as $1.50. It has since retreated to a range of $1.01 – $1.03, but it has now spent a full month above its $1 peg – and shows no signs of returning. A negative stability fee would encourage more people to become indebted to the Dai system. This would increase the supply of Dai, and in doing so reduce upwards pressure on the peg.
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#DFC
·coindesk.com·
Why MakerDAO Should Consider Negative Interest Rates for Dai
Emin Gün Sirer's AVA Labs Seeks Wall Street Business After Open Sourcing 'Avalanche' Protocol
Emin Gün Sirer's AVA Labs Seeks Wall Street Business After Open Sourcing 'Avalanche' Protocol
As first envisioned in a 2018 white paper by the pseudonymous “Team Rocket,” the Avalanche protocol uses random network sampling to reach consensus. But it is AVA Labs' (www.avalabs.org) ambition in building new infrastructure for the financial markets that now drives the firm forward.
#Fintech#CryptoAssets#Stablecoins#Ava#DFC
·coindesk.com·
Emin Gün Sirer's AVA Labs Seeks Wall Street Business After Open Sourcing 'Avalanche' Protocol
Synthetix Explores Adjusting sUSD Liquidity Incentives with SIP 51
Synthetix Explores Adjusting sUSD Liquidity Incentives with SIP 51
Synthetix – the permissionless derivatives protocol – is exploring adjusting its economic incentives for liquidity providers across sETH and sUSD pools. sETH acts as the primary on-ramp for Synthetix users, sUSD also acts as a critical off-ramp. Therefore, there must be high confidence (and liquidity) in the stability of the sUSD peg at $1. The added SNX incentives to Curve will aid in sUSD maintaining its $1 peg and assurance for liquidity providers that the incentives will exist in the long term.
#Fintech#CryptoAssets#Stablecoins#Synthetix#DFC
·defirate.com·
Synthetix Explores Adjusting sUSD Liquidity Incentives with SIP 51