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What the rise and fall of Basis Stablecoin tells us about the future of corporate Stablecoins such as Facebook GlobalCoin
What the rise and fall of Basis Stablecoin tells us about the future of corporate Stablecoins such as Facebook GlobalCoin
The Basis stablecoin had huge ambitions – to be the global algorithmic central bank. Despite plenty of cash & brains, Basis failed. This article pieces together the story of what happened and what it means for the Blockchain Economy.
#Fintech#CryptoAssets#AltCoins#Stablecoins#DFC
·dailyfintech.com·
What the rise and fall of Basis Stablecoin tells us about the future of corporate Stablecoins such as Facebook GlobalCoin
Facebook to launch Libra Blockchain testnet next week, backed by Libra Reserve
Facebook to launch Libra Blockchain testnet next week, backed by Libra Reserve
Facebook and dozens of partners are set to unveil the Libra Association and Libra Blockchain next week. The Libra Blockchain will be backed by Libra Reserve, a reserve of real assets that will provide the cryptocurrency with “stability, low inflation, global acceptance, and fungibility. The Libra Blockchain will be open-sourced under an Apache 2.0 License as of the day of the announcement, and a testnet will be launched at the same time.
#Fintech#CryptoAssets#AltCoins#Stablecoins#DFC
·theblockcrypto.com·
Facebook to launch Libra Blockchain testnet next week, backed by Libra Reserve
Is Facebook’s Libra the Dollar’s Killer App?
Is Facebook’s Libra the Dollar’s Killer App?
"Facebook's Libra will pay interest to those who hold it at an equivalent rate at which banks earn interest on their deposits at the Fed. Which in turn will make people begin to wonder why the legacy banking system is not so generous with its depositors. This will put populist pressure on banks and new scrutiny on their relationship with the Fed."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·aier.org·
Is Facebook’s Libra the Dollar’s Killer App?
Central bank digital currency (CBDC) and financial inclusion
Central bank digital currency (CBDC) and financial inclusion
Key findings suggest that mobile money may be a positive use case for CBDC, but it is not without potential risks. The application of retail CBDC to mobile money has the potential to foster greater interoperability, improve payment efficiency, facilitate cost-saving gains by minimising reconciliation complexity and notional costs, as well as reduce the key payment risks that are typically associated with mobile money.
#Fintech#CryptoAssets#AltCoins#CBDC#MobileMoney#DFC
·cenfri.org·
Central bank digital currency (CBDC) and financial inclusion
Should Central Banks Issue Digital Currency?
Should Central Banks Issue Digital Currency?
Philadelphia Fed researchers find that a central bank digital currency might promote efficiency in exchange, but could raise bank funding costs. However, by appropriately choosing the interest rate it pays on CBDC, the central bank can balance these competing concerns.
#Fintech#CryptoAssets#CBDC#DFC
·philadelphiafed.org·
Should Central Banks Issue Digital Currency?
Coinbase and Circle will no longer be the only platforms to issue and redeem USDC, in new bid to boost stablecoin adoption among institutions
Coinbase and Circle will no longer be the only platforms to issue and redeem USDC, in new bid to boost stablecoin adoption among institutions
Circle, the company behind USDC, has announced it will allow other institutions to issue and redeem the dollar-pegged stablecoin. Until now, Coinbase and Circle have been the only platforms where users can redeem their USDC, having been the sole members of the CENTRE network
#USDC#AltCoins#Stablecoins#Fintech#CryptoAssets#DFC
·theblockcrypto.com·
Coinbase and Circle will no longer be the only platforms to issue and redeem USDC, in new bid to boost stablecoin adoption among institutions
The Riksbank is planning to join the ECB's payment platform TIPS
The Riksbank is planning to join the ECB's payment platform TIPS
Within the coming years it may be possible for all Swedish bank customers to make payments to another bank instantly 24/7 every day of the year. This will become possible in that the Riksbank is planning to join the ECB's payment platform TARGET Instant Payment Settlement (TIPS).
#Fintech#CBDC#DFC
·riksbank.se·
The Riksbank is planning to join the ECB's payment platform TIPS
USC Project Seeks to Disrupt Traditional Wholesale Banking
USC Project Seeks to Disrupt Traditional Wholesale Banking
The essence of the USC project is to create blockchain-based cryptocurrencies to make it easier for international banks to settle various transactions between each other. USCs are 100% fiat-backed currencies held in respective central banks with convertibility into fiat currency at par guaranteed at all times.
#Fintech#CryptoAssets#AltCoins#Stablecoins#USC#DFC
·cointelegraph.com·
USC Project Seeks to Disrupt Traditional Wholesale Banking
An economic model for stable crypto-assets
An economic model for stable crypto-assets
To know the Network Effect of a crypto-asset, we have to focus on the value that brings to the final user. The design is built based on the Equation of Exchange, as an economic model of the transaction demand for money.
#CryptoAssets#Stablecoins#DFC
·hackernoon.com·
An economic model for stable crypto-assets
Blockchain in retail banking: Making the connection
Blockchain in retail banking: Making the connection
There needs to be a more seamless transition between fiat and digital assets, so that customers do not risk losses as they switch back and forth. One solution would be for central banks to issue a crypto fiat, which would support product manufacturing. It would also enable real-time peer-to-peer payments and potentially cross-border interbank clearing and settlement.
#Fintech#CryptoAssets#AltCoins#CBDC#Stablecoins#DFC
·mckinsey.com·
Blockchain in retail banking: Making the connection
Fed Nixes Narrow Banks Redux
Fed Nixes Narrow Banks Redux
"Central banks cannot operate retail digital currencies. Who do you call when you forgot your password? But narrow banks are the ideal institutions to provide the retail-facing end of digital currencies. The sooner the better. Unless we can persuade the Treasury to offer reserves first and take this all away from the Fed."
#Fintech#CBDC#DFC
·johnhcochrane.blogspot.com·
Fed Nixes Narrow Banks Redux
Digital Currencies and Fast Payment Systems: Disruption is Coming
Digital Currencies and Fast Payment Systems: Disruption is Coming
Darrell Duffie examines key issues around the introduction of digital currencies and faster payment systems, including financial inclusion, payment system efficiency, control by central banks of monetary policy transmission, privacy and anti-monetary laundering, and competition for banking services.
#Fintech#PaymentSystems#CryptoAssets#CBDC#Stablecoins#DFC
·darrellduffie.com·
Digital Currencies and Fast Payment Systems: Disruption is Coming
Innovation transforms central banking
Innovation transforms central banking
Central bank digital currencies could bring profound changes to the financial system, potentially crowding out commercial banks. They could also change the way monetary policy operates. The implications for monetary and financial stability need careful consideration.
#CBDC#AltCoins#CryptoAssets#Fintech#DFC
·bis.org·
Innovation transforms central banking