DFC

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Too Good To Be True
Too Good To Be True
FDIC-insured banks don't hold digital assets. They hold US dollars. So this should read "collateralized 1-to-1 with US dollars held at US-domiciled, FDIC-insured banks." But even when corrected, this statement is so misleading it amounts to mis-selling. It implies that anyone who invests in this altcoin benefits from FDIC insurance. This is not the first time I have seen this claim made about cryptocurrency investments. It wasn't true last time, and it isn't now.
#Fintech#CryptoAssets#Stablecoins#DFC
·coppolacomment.com·
Too Good To Be True
Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure
Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure
According to the report, Facebook no longer intends to make the Libra token the centerpiece of its digital payments strategy. Instead, Facebook’s Libra project will reportedly transition to supporting both existing government-backed currencies, like the US dollar and the euro, and the Libra token when it is eventually completed and ready to launch.
#CryptoAssets#Facebook#Stablecoins#Fintech#Libra#DFC
·theverge.com·
Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure
BIS on the Technology of Retail Central Bank Digital Currency
BIS on the Technology of Retail Central Bank Digital Currency
"Central bank digital currencies (CBDCs) promise to provide cash-like safety and convenience for peer-to-peer payments. To do so, they must be resilient and accessible. They should also safeguard the user's privacy, while allowing for effective law enforcement. Different technical designs satisfy these attributes to varying degrees, depending on whether they feature intermediaries, a conventional or distributed infrastructure, account- or token-based access, and retail interlinkages across borders. We set out the underlying trade-offs and the related hierarchy of design choices."
#Fintech#CryptoAssets#CBDC#DFC
·bis.org·
BIS on the Technology of Retail Central Bank Digital Currency
CBDC and Monetary Sovereignty
CBDC and Monetary Sovereignty
Wide adoption of a digital currency denominated in a different unit of account, such as Libra, presents a significant threat to monetary sovereignty and financial stability. Issuing a CBDC could potentially counter this threat. Making central bank money more user-friendly would increase its attractiveness as a means of payment in general and as an alternative to Libra in particular.
#Fintech#CryptoAssets#CBDC#Stablecoins#Facebook#Libra#DFC
·bankofcanada.ca·
CBDC and Monetary Sovereignty
Bank of Canada's Technology Approach for a CBDC
Bank of Canada's Technology Approach for a CBDC
While no decision has been made to pursue the issuance of a central bank digital currency (CBDC), this paper explores the technological approach to constructing a CBDC system for contingency planning purposes. Any design needs to be determined by policy choices about the attributes of the CBDC (e.g., privacy, resilience); the business model (considering, e.g., partners, end-user channels and the cost model); and the qualities the system supports (e.g., user experience, security). This note explores these options and describes the potential limits that the underlying technology may impose on the mix of policy objectives.
#Fintech#CryptoAssets#CBDC#DFC
·bankofcanada.ca·
Bank of Canada's Technology Approach for a CBDC
Bitfinex Repays $100M of Outstanding Loan Facility to Tether
Bitfinex Repays $100M of Outstanding Loan Facility to Tether
"Bitfinex is pleased to announce that on Friday, February 28, 2020, it repaid $100,000,000 of the outstanding loan facility to Tether. Bitfinex made this payment in fiat wired to Tether's bank account. This payment is all on account of principal. Interest on all amounts due under the facility agreement has been prepaid up to March 2020."
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·bitfinex.com·
Bitfinex Repays $100M of Outstanding Loan Facility to Tether
Digital Tipping: The Way of the Future for Service Workers
Digital Tipping: The Way of the Future for Service Workers
In the ever evolving financial world, cash is becoming used increasingly less often by customers. This is especially true in the service industry. Cards are becoming king when paying and this includes tipping. Pre-paid cards can be a great way to pay out tips to service industry workers in real time and for immediate access.
#Cash#PaymentSystems#Fintech#CryptoAssets#CBDC#DFC
·finextra.com·
Digital Tipping: The Way of the Future for Service Workers
Prime Broker Tagomi Becomes 22nd Member of Facebook's Libra Association
Prime Broker Tagomi Becomes 22nd Member of Facebook's Libra Association
According to TechCrunch, Tagomi is set to formally announce its intention to join the association later this week. It joins ecommerce platform Shopify, which announced it would join the group last week, joining a host of other crypto platforms, tech startups, non-profits and venture funds.
#Facebook#Fintech#Stablecoins#CryptoAssets#Libra#DFC
·coindesk.com·
Prime Broker Tagomi Becomes 22nd Member of Facebook's Libra Association
Ukraine’s Central Bank: E-Hryvnia Threatens Landscape of Banking System
Ukraine’s Central Bank: E-Hryvnia Threatens Landscape of Banking System
Despite considerable testing and research, the prospect of a central bank digital currency (CBDC) still raises significant concerns for central bankers in Ukraine. However, the central bank apparently is still concerned about such a currency’s effect on financial stability as well as the possible threat to the traditional banking system.
#Fintech#CryptoAssets#CBDC#DFC
·cointelegraph.com·
Ukraine’s Central Bank: E-Hryvnia Threatens Landscape of Banking System
Bank of Canada on Money and Payments in the Digital Age
Bank of Canada on Money and Payments in the Digital Age
"Canadians are well-served by the existing payment ecosystem, so we believe there is no need for the Bank of Canada to issue its own digital currency at this time. But the world can change very quickly, so we need to get ready in case one is needed... The Bank of Canada can imagine scenarios in which we would consider issuing a CBDC so we can continue to provide Canadians with trustworthy methods of payment."
#Fintech#CryptoAssets#CBDC#DFC
·bankofcanada.ca·
Bank of Canada on Money and Payments in the Digital Age
Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows
Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows
Utility Settlement Coin (USC), the blockchain-based payments system involving commercial and central banks, will be working with ConsenSys-backed startup Adhara, CoinDesk has learned. Adhara was behind Project Khokha, which used enterprise blockchain client Quorum to see how zero-knowledge proofs performed with the South African Reserve Bank (SARB).
#Stablecoins#CryptoAssets#Fintech#USC#DFC
·coindesk.com·
Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows
Blockchain, digital currency and cryptocurrency: Moving into the mainstream?
Blockchain, digital currency and cryptocurrency: Moving into the mainstream?
JP Morgan published its annual update on the latest developments in the adoption, evolution and performance of blockchain technology and cryptocurrencies. It expands on last year's report to include analysis of stablecoins and the rise of alternative noncash payments.
#Fintech#CryptoAssets#Blockchain#Stablecoins#PaymentSystems#DFC
·markets.jpmorgan.com·
Blockchain, digital currency and cryptocurrency: Moving into the mainstream?
Calibra Technical Lead Tells Why Facebook Built New Language for Libra
Calibra Technical Lead Tells Why Facebook Built New Language for Libra
"A Libra coin uses our Move language, which is agnostic like most mainstream languages. But beyond representing the Libra currency, we also represent things like what signature must be present on a transaction to authenticate it. When building Move, we focused on creating a safe, flexible language that allows us to express concepts that are easily tweakable and easy to analyze for financial use cases."
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·cointelegraph.com·
Calibra Technical Lead Tells Why Facebook Built New Language for Libra
Swedish central bank will test DLT-based digital currency prototype
Swedish central bank will test DLT-based digital currency prototype
The Riksbank CBDC pilot project will focus on developing a test environment where simulated agents can safely use a CBDC. The project will test holding e-krona in a digital wallet, completing payments, and making deposits and withdrawals via a mobile app. Users should also be able to complete payments via both wearable devices such as smart watches, and more traditional means of payments including cards.
#Fintech#CryptoAssets#CBDC#DFC
·centralbanking.com·
Swedish central bank will test DLT-based digital currency prototype
Telegram ICO: A Two-Phase Offering Does Not Inoculate an ICO from Federal Securities Law
Telegram ICO: A Two-Phase Offering Does Not Inoculate an ICO from Federal Securities Law
A two-phase offering of this kind, whether styled as a SAFT (Simple Agreement for Future Tokens) or otherwise, does not inoculate an ICO or the issuer from the application of the federal securities laws. The SEC examines the facts and circumstances of a token offering at all relevant times, looking to the economic reality of the transaction or transactions, whatever they may be called.
#Fintech#CryptoAssets#Stablecoins#Telegram#DFC
·crowdfundinsider.com·
Telegram ICO: A Two-Phase Offering Does Not Inoculate an ICO from Federal Securities Law