DFC

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Assessing the true potential of Libra’s financial inclusion objectives
Assessing the true potential of Libra’s financial inclusion objectives
"Even discounting the large number of unbanked adults who don’t have formal ID or mobile internet, and whom Libra won’t be able to reach in its initial stages, we estimate that Facebook’s digital currency still has the potential to reach between 370 and 800 million unbanked people1 by providing access to financial services, cheap capital, and the open, instant, and low-cost movement of money."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·gsma.com·
Assessing the true potential of Libra’s financial inclusion objectives
The Real Reason Facebook Is Starting a Cryptocurrency
The Real Reason Facebook Is Starting a Cryptocurrency
Facebook is getting into cryptocurrency because once they have a widely accepted payment method, their garden will be the largest in the world. Basically, a company is creating a walled garden when all of its apps, products, and services are interconnected with each other, and sometimes reliant on each other.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·medium.com·
The Real Reason Facebook Is Starting a Cryptocurrency
A Tale of Two Countries: Cash Demand in Canada and Sweden
A Tale of Two Countries: Cash Demand in Canada and Sweden
"We find that Canada and Sweden show a similar long-term downward trend in small-denomination bank notes relative to GDP, reflecting declining cash use for transactions in both countries. These outcomes have been driven by the adoption of similar retail payment innovations in the two countries. "
#Fintech#CBDC#DFC
·bankofcanada.ca·
A Tale of Two Countries: Cash Demand in Canada and Sweden
PBOC to accelerate CBDC work in H2 2019
PBOC to accelerate CBDC work in H2 2019
"The PBOC will seize the trend to develop fintech, strengthen tracking and studying of the developments, and proactively meet new challenges. The PBOC will accelerate the research and advancement of China’s central bank digital currency, [and] track the development of virtual currencies both at home and broad."
#Fintech#CryptoAssets#AltCoins#CBDC#DFC
·pbc.gov.cn·
PBOC to accelerate CBDC work in H2 2019
Digging further into Libra's origin story
Digging further into Libra's origin story
Fintech Beat talks with the former head of Bank of America’s global quant business, and a co-founder of Sila Money, who has raised red flags about the Facebook Libra project. Alex Lipton argues that Libra’s core design resembles the vision laid out in an open-source paper published by the Royal Society and Scientific American.
#PaymentSystems#Fintech#Stablecoins#CryptoAssets#AltCoins#Facebook#Libra#DFC
·rollcall.com·
Digging further into Libra's origin story
Libra: possible risks in Facebook’s pursuit of a ‘stablecoin’
Libra: possible risks in Facebook’s pursuit of a ‘stablecoin’
The price of the Libra will depend on the commitment to supply coins at the speed demanded. This is not a trivial matter as the Association will have to back new coins with the underlying assets. Consider an occasion in which a Libra hype leads to a very high demand for coins (not unlike what we have seen for bitcoins). To preserve the value of one Libra, the Association will have to mint new coins at the rate demanded and back them up by buying the assets in the underlying composition. It is not obvious that suppliers will be willing to do that for any level demanded.
#AltCoins#PaymentSystems#Stablecoins#CryptoAssets#Facebook#Fintech#Libra#DFC
·bruegel.org·
Libra: possible risks in Facebook’s pursuit of a ‘stablecoin’
The Nightmare of Disintermediation
The Nightmare of Disintermediation
I think twice about the utopian ideal of disintermediation and I think you should too. When all the vampire squids have gone extinct and Rich Uncle Pennybags is dead and buried, we may look back and wish we had once more the sense of order they provided. We may long for the days when our enemies were so easily defined.
#Fintech#CryptoAssets#Stablecoins#PaymentSystems#DFC
·medium.com·
The Nightmare of Disintermediation
Tether Behind Bitcoin's $4000 to $13,800 Bull Rally: Analyst
Tether Behind Bitcoin's $4000 to $13,800 Bull Rally: Analyst
When you see a large Tether print it means a handful of wealthy clients have essentially preordered batches of Tethers, days in advance, to then dump on the market–often before it’s begun to surge. Buying significant amounts of USDT also allows whales to make trades on deeply liquid crypto exchanges that do not transact in fiat currencies.
#Stablecoins#Fintech#Bitcoin#CryptoAssets#Tether#AltCoins#DFC
·bitcoinist.com·
Tether Behind Bitcoin's $4000 to $13,800 Bull Rally: Analyst
As the Western World Gets Nervous About Facebook Libra, well, We might Not Be The Target Market
As the Western World Gets Nervous About Facebook Libra, well, We might Not Be The Target Market
If the likes of Western Union or Ria Financial Services, or MoneyGram intend to make a fist of this fight and not get swept away in the Facebook tidal wave, then it’s on them to do something that they probably haven’t had to do in quite some time... Win over their audience.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Remittances#Libra#DFC
·hackernoon.com·
As the Western World Gets Nervous About Facebook Libra, well, We might Not Be The Target Market
Is Fed vote on real-time payments a sign of a wider split?
Is Fed vote on real-time payments a sign of a wider split?
“The U.S. private sector has a long history of providing efficient payment solutions to consumers and businesses. The public sector should provide its own capacity only when the evidence of market failure is clear and alternative means to achieve public goals are not feasible," Quarles said in a statement. "In this case, I do not see a strong justification for the Federal Reserve to move into this area and crowd out innovation when viable private-sector alternatives are available.”
#CBDC#PaymentSystems#Fintech#Regulation#DFC
·americanbanker.com·
Is Fed vote on real-time payments a sign of a wider split?
Tether Stablecoin Wallet Analysis Shows 318 Wallets Control 80% Of All USDT In Existence
Tether Stablecoin Wallet Analysis Shows 318 Wallets Control 80% Of All USDT In Existence
Centralization is a well-known problem of crypto markets. People often referred to as whales control a fifth of some markets and have the strength to promote manipulation whenever they want to. Tether, however, seems to be facing an even worse situation: only 318 crypto addresses actually control 80% of the circulating supply of Tether.
#CryptoAssets#Tether#Stablecoins#Fintech#AltCoins#Bitcoin#DFC
·bitcoinexchangeguide.com·
Tether Stablecoin Wallet Analysis Shows 318 Wallets Control 80% Of All USDT In Existence
Fed aims for 24/7 instant payment system in US
Fed aims for 24/7 instant payment system in US
The US has several private real-time networks offered by payments providers and big banks. But the Fed says these alternatives have important limitations, like the lack of a universal infrastructure. “Most of these services rely on ‘closed-loop’ approaches, meaning that users signed up to one service cannot exchange payments with users signed up to other services,” the Fed statement noted.
#Fintech#CryptoAssets#PaymentSystems#CBDC#DFC
·centralbanking.com·
Fed aims for 24/7 instant payment system in US
The Very Political Fed
The Very Political Fed
Ms. Brainard says the Fed must develop its own system because “no single private-sector provider of any U.S. payment system has ever achieved nationwide reach on its own.” Perhaps that is because the Fed has undercut private systems with its regulatory and infrastructure advantage, as the Government Accountability Office reported in 2016.
#CBDC#CryptoAssets#PaymentSystems#Fintech#DFC
·wsj.com·
The Very Political Fed
Global Regulators Warn on Privacy Risks of Facebook's Libra
Global Regulators Warn on Privacy Risks of Facebook's Libra
Data privacy commissioners from Australia, Albania, Burkina Faso, Canada, the EU, the U.K., the U.S., shared concerns that “while Facebook and Calibra have made broad public statements about privacy, they have failed to specifically address the information handling practices that will be in place to secure and protect personal information.
#AltCoins#CryptoAssets#Stablecoins#Regulation#Fintech#Facebook#Libra#DFC
·coindesk.com·
Global Regulators Warn on Privacy Risks of Facebook's Libra
The Fed will build and operate the FedNow interbank 24x7x365 faster payment system
The Fed will build and operate the FedNow interbank 24x7x365 faster payment system
The Federal Reserve Board has announced that the Federal Reserve Banks will build and operate the FedNowSM Service, a new interbank 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality to support faster payments in the United States. The decision to develop the new RTGS service (Off-site) was based on an assessment of public input and policy criteria regarding the Federal Reserve’s role in the payment system.
#CBDC#PaymentSystems#Fintech#Stablecoins#DFC
·fedpaymentsimprovement.org·
The Fed will build and operate the FedNow interbank 24x7x365 faster payment system
Fed developing faster payments service to rival big banks' network
Fed developing faster payments service to rival big banks' network
The Fed's offering, called FedNow, will challenge a competing service already offered by The Clearing House, a private company owned by many of the country's largest banks. The Fed, which expects to launch its service in 2023 or 2024, said a publicly run offering is needed to ensure the entire nation can reap the benefits of real-time payments.
#Fintech#PaymentSystems#Stablecoins#CBDC#DFC
·spglobal.com·
Fed developing faster payments service to rival big banks' network
Rich countries must start planning for a cashless future - The dash off cash
Rich countries must start planning for a cashless future - The dash off cash
"Governments need to ensure that central banks’ monopoly over coins and notes is not replaced by private monopolies over digital money, and they should maintain banks’ obligation to keep customer information private, so that the plumbing remains anonymous. Digital firms that use this plumbing to offer services should be free to monetize transaction data, through, for example, advertising, so long as their business model is made explicit to users. The phase-out of cash should be gradual. For a period of ten years, banks should be obliged to accept and distribute cash in populated areas. This will buy governments time to help the poor open bank accounts, educate the elderly and beef up internet access in rural areas."
#Fintech#CryptoAssets#AltCoins#CBDC#DFC
·economist.com·
Rich countries must start planning for a cashless future - The dash off cash
WhatsApp under pressure from Five Eyes nations to allow access to encrypted chat
WhatsApp under pressure from Five Eyes nations to allow access to encrypted chat
WhatsApp and other encrypted messaging services face pressure to hand over access to encrypted chats after a meeting between the "Five Eyes" nations which share intelligence this week. "The Five Eyes are united that tech firms should not develop their systems and services, including end-to-end encryption, in ways that empower criminals or put vulnerable people at risk."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Privacy#Libra#DFC
·businessinsider.com·
WhatsApp under pressure from Five Eyes nations to allow access to encrypted chat