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As China goes increasingly cashless, PBOC says cash payment is still alive

The PBOC is urging individuals and companies to not refuse or discriminate against cash payment, asking people to dial down what it calls an “overhype” of a cashless society comes as mobile payment volumes continue to soar to new heights.

#Fintech #CBDC #DFC

·scmp.com·Jul 31, 2019

As China goes increasingly cashless, PBOC says cash payment is still alive

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·Jul 31, 2019

WhatsApp under pressure from Five Eyes nations to allow access to encrypted chat

Sweden's cash in circulation increased for the first time since 2007

Swedish banknotes and coins in circulation rose 7% last year, to 62.2 billion krona, according to the European Central Bank. It was the first yearly increase since 2007; the value of cash in circulation has dropped by around 45% over that period.

#Fintech #CBDC #DFC

·qz.com·Jul 31, 2019

Sweden's cash in circulation increased for the first time since 2007

World's central banks mull launch of state-backed digital currencies

PBOC officials have released more information about a CBDC which is still at the research stage. It will be backed by a reserve fund, according to Mu Changchun, deputy director of the PBOC payments department.

#Fintech #CryptoAssets #AltCoins #CBDC #DFC

·global.chinadaily.com.cn·Jul 31, 2019

World's central banks mull launch of state-backed digital currencies

Go Slow On Libra. Speed Up On Faster Payments.

The ability to move money safely, securely, cheaply and quickly is of vital national importance. It touches everyone and every part of our economy. It should be considered a critical component of our national infrastructure, just as cash is today, and deployed in the broad public interest.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #FastPayments #Libra #DFC

·forbes.com·Jul 30, 2019

Go Slow On Libra. Speed Up On Faster Payments.

Millions in Crypto Is Crossing the Russia-China Border Daily. There, Tether Is King

Chinese importers in Russia are buying up to $30 million a day of tether from Moscow’s OTC trading desks. They use the cryptocurrency to send large sums back to their home country, which has strict capital controls. Previously the merchants used bitcoin for this, but when the market crashed in 2018 they switched to tether. Despite longstanding questions about USDT’s collateral, in this market “nobody actually cares if tether is backed or not,” says one Moscow trader.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Tether #DFC

·coindesk.com·Jul 30, 2019

Millions in Crypto Is Crossing the Russia-China Border Daily. There, Tether Is King

Was Tether the Unknown Bitcoin Whale Behind Monday’s $2.27 Billion Transfer?

The massive $2.27 billion bitcoin transfer that occurred on Monday has led to the emergence of fanciful theories that Tether might be creating a private dark pool for future USDT issuance.

#Fintech #CryptoAssets #AltCoins #Bitcoin #Stablecoins #Tether #DFC

·bitcoinist.com·Jul 30, 2019

Was Tether the Unknown Bitcoin Whale Behind Monday’s $2.27 Billion Transfer?

Facebook’s Libra: Does the World Need Frictionless Money?

Facebook seems to think its new digital currency Libra will be used mainly for purchasing goods and services and for current account transactions. But it will probably be used mainly for capital account transactions. Do we really want to eliminate frictional costs on the capital account?

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·carnegieendowment.org·Jul 30, 2019

Facebook’s Libra: Does the World Need Frictionless Money?

Zuckerberg Plans to Wiretap Whatsapp. He’ll Do the Same to Libra

Mark Zuckerberg’s Facebook is reportedly working on a back-door content-scanner for WhatsApp, tantamount to a wiretapping algorithm. If the reports are correct, Facebook will scan your messages before you send them and report anything suspicious.

#AltCoins #Facebook #Stablecoins #Fintech #CryptoAssets #Libra #DFC

·ccn.com·Jul 30, 2019

Zuckerberg Plans to Wiretap Whatsapp. He’ll Do the Same to Libra

Philippines’ UnionBank Launches Payments-Focused Stablecoin

Philippines-based UnionBank has launched a payments-focused stablecoin pegged to the Philippine peso, dubbed PHX, that is being implemented on UnionBank’s i2i platform.

#Fintech #CryptoAssets #AltCoins #Stablecoins #DFC

·cointelegraph.com·Jul 30, 2019

Philippines’ UnionBank Launches Payments-Focused Stablecoin

Facebook warns investors that Libra may never see the light of day

Facebook says in the risk factors section of its latest quarterly report that it can’t guarantee Libra “will be made available in a timely manner, or at all."

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·cnbc.com·Jul 29, 2019

Facebook warns investors that Libra may never see the light of day

Cambodia launches blockchain-powered payment system

"Cambodia launched the pilot of a blockchain-powered payment system this week, as the South-east Asian country aims to reduce money transfer costs and improve financial inclusion. The application, know as the Bakong Project, connects financial institutions and payment providers, enabling users to pay and make transactions in real time without fees, according to Cambodia’s central bank."

#Fintech #CryptoAssets #AltCoins #CBDC #DFC

·centralbanking.com·Jul 29, 2019

Cambodia launches blockchain-powered payment system

We’ve had private currencies like Libra before. It was chaos

The result might be a modern version of the type of price volatility that private currencies caused in the US back in the 1830s. Bullard predicts that today’s consumers and businesses won’t like exchange-rate chaos any more today than people did then. He says that system’s unpopularity factored into the government’s decision a few decades later to replace it with a national banking system. Out of that chaos, the dollar was able to rule.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·technologyreview.com·Jul 27, 2019

We’ve had private currencies like Libra before. It was chaos

HANNIBAL AD PORTAS!

"Our solution boils down to assembling a pool of assets (contributed by sponsors), appointing an administrator (who provides enforcement of policies in extreme situations), digitizing the ownership rights on this pool, and building a special purpose narrow bank to facilitate activities of the administrator. This solution was published a year ago in both Scientific American and the Royal Society under the name Tradecoin."

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Tokenization #Libra #DFC

·media.mit.edu·Jul 27, 2019

HANNIBAL AD PORTAS!

Digital trade coin: towards a more stable digital currency

We propose a practical mechanism combining novel technological breakthroughs with well-established hedging techniques for building an asset-backed transactional oriented cryptocurrency, which we call the digital trade coin (DTC). We show that in its mature state, the DTC can serve as a much-needed counterpoint to fiat reserve currencies of today.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Tokenization #Libra #DFC

·royalsocietypublishing.org·Jul 27, 2019

Digital trade coin: towards a more stable digital currency

MIT Fellow Says Facebook 'Lifted' His Ideas for Libra Cryptocurrency

MIT's Alex Lipton says there is a key design problem with Libra in that it would be issued in a non-immunized fashion against financial paper. Libra will need to buy high-grade paper to back the coin, so the owner of the paper will receive money from Libra (which it collected from consumers in return for Libra) and this money will start to circulate in the system. As such, there would be twice as much money in the system, with all the negative consequences.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·coindesk.com·Jul 27, 2019

MIT Fellow Says Facebook 'Lifted' His Ideas for Libra Cryptocurrency

Do stablecoins like libra differ from other crypto assets

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·centralbanking.com·Jul 26, 2019

Do stablecoins like libra differ from other crypto assets

Japanese financial services giant Monex submits application to join Facebook’s Libra

Monex Group, the Japan-based online brokerage firm that also owns cryptocurrency exchange Coincheck, has submitted an application to join Facebook’s Libra project.

#AltCoins #CryptoAssets #Facebook #Fintech #Stablecoins #Libra #DFC

·theblockcrypto.com·Jul 26, 2019

Japanese financial services giant Monex submits application to join Facebook’s Libra

What are the odds Facebook's Libra launches on time?

“Ten years after Bitcoin began operating, we are still trying to understand it and regulators have not figured out what to do about it,” said Angela Walch. “In the end, Facebook and Libra are entering the high-stakes domain of money and finance—they should expect to carry a heavy regulatory burden just as others operating in this space do.”

#Regulation #AltCoins #Facebook #Stablecoins #CryptoAssets #Fintech #Libra #DFC

·qz.com·Jul 25, 2019

What are the odds Facebook's Libra launches on time?

Whitepaper Deep Dive — Move: Facebook Libra Blockchain’s New Programming Language

Key characteristics of Move and How it differentiates with Ethereum from a developer’s perspective...

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·medium.com·Jul 24, 2019

Whitepaper Deep Dive — Move: Facebook Libra Blockchain’s New Programming Language

Americans Have Trust Issues with Facebook’s Cryptocurrency

After surveying 1,799 U.S. adults, a Civic Science study found only 5% of expressed some level of interest in Libra.

#Fintech #AltCoins #CryptoAssets #Stablecoins #Facebook #Libra #DFC

·civicscience.com·Jul 24, 2019

Americans Have Trust Issues with Facebook’s Cryptocurrency

Facebook Libra Not Avoiding U.S. Regulators, Switzerland a Better Fit

The Swiss Confederation has much clearer crypto regulations than the United States, which has done little since the birth of Bitcoin to simplify the regulatory complexities lying in wait to bite any company looking to establish a crypto or crypto-related business within its confines.

#Fintech #CryptoAssets #Regulation #AltCoins #Stablecoins #Facebook #Libra #DFC

·cointelegraph.com·Jul 24, 2019

Facebook Libra Not Avoiding U.S. Regulators, Switzerland a Better Fit

10 things you must know about the Govt. of India Blockchain Report

The much-awaited Government of India report on blockchain and virtual currencies promises a massive boost to the blockchain sector in India, but delivers a fatal blow to bitcoin, Ripple XRP, ethereum, and other crypto-currencies through the proposed “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019”.

#Fintech #CryptoAssets #Blockchain #CBDC #Regulation #DFC

·finextra.com·Jul 24, 2019

10 things you must know about the Govt. of India Blockchain Report

Facebook Agrees To Work With IRS To Address Cryptocurrency Concerns

In testimony before the Senate Banking, Housing and Urban Affairs Committee, Facebook subsidiary Calibra CEO David Marcus stated that consumers would be provided with the necessary tools to report their taxes, but added that Calibra does not currently have processes in place to directly provide that information to the IRS. However, Mr. Marcus noted, Facebook "would be happy" to work with the IRS to ease the consumer burden.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Taxation #Libra #DFC

·mondaq.com·Jul 24, 2019

Facebook Agrees To Work With IRS To Address Cryptocurrency Concerns

Facebook Libra Backers Are Not Official Partners Yet, Says Visa CEO

While Libra project supposedly has 28 founding partners, according to Visa, who is one of them, only nonbinding letters of intent to join Libra have been signed, so no one has yet officially joined. I've read elsewhere that also, no one has anted up the $10m minimum stake.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·coindesk.com·Jul 24, 2019

Facebook Libra Backers Are Not Official Partners Yet, Says Visa CEO

Swiss data watchdog awaits details on Facebook crypto plan

Libra has not responded to an information request by the Swiss Federal Data Protection and Information Commissioner, looking for more details to help define its oversight role over the proposed digital currency.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Regulation #Privacy #Libra #DFC

·uk.reuters.com·Jul 24, 2019

Swiss data watchdog awaits details on Facebook crypto plan

Libra: Heads I win – tails you lose

While Finance Watch is open to technological progress in this area, we have identified several specific concerns with the Libra proposal based on an initial analysis of the Libra White Paper.

#Fintech #CryptoAssets #AltCoins #Stablecoins #Facebook #Libra #DFC

·finance-watch.org·Jul 23, 2019

Libra: Heads I win – tails you lose

Binance Will List Binance GBP Stable Coin (BGBP)

Binance will list Binance GBP Stable Coin (BGBP) and open trading for a BGBP/USDC trading pair at 2019/07/23 4:00 AM (UTC).

#Fintech #AltCoins #CryptoAssets #Stablecoins #DFC

·binance.com·Jul 23, 2019

Binance Will List Binance GBP Stable Coin (BGBP)

Central bank digital currencies could remedy crypto's 'competition issues,' EU study says

Central bank digital currencies (CBDCs) could solve the "competition issues" in the cryptocurrency sector, according to a study requested by the European Parliament Committee on Economic and Monetary Affairs.

#CBDC #AltCoins #Fintech #CryptoAssets #DFC

·finance.yahoo.com·Jul 23, 2019

Central bank digital currencies could remedy crypto's 'competition issues,' EU study says

Palestinian Authority: Cryptocurrency Will Bring Economic Freedom

Palestinian Prime Minister Mohammad Shtayyeh recently announced that his government will use cryptocurrency to bypass sanctions levied by Israel.

#CryptoAssets #AltCoins #Fintech #CBDC #Sovereign #DFC

·bitcoinist.com·Jul 23, 2019

Palestinian Authority: Cryptocurrency Will Bring Economic Freedom