DFC

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IMF Explores Evolving Forms of Money, Prospects of CBDC – Diar
IMF Explores Evolving Forms of Money, Prospects of CBDC – Diar
"The International Monetary Fund released their latest perspective on the development prospects of Central Bank Digital Currencies. Exploring the benefits of various forms of money, the IMF seems to be of the mindset that while cryptocurrencies have gained traction, it is in fact private eMoney solutions that provide stored value facilities and an easy user experience that are best ranked. While citing Bitcoin, Ether and Ripple, the report seems to be remiss of the larger and intertwined developments occurring in the space as of late. One cryptocurrency firm is, at the very least, attempting to address issues and concerns the report highlighted having secured the necessary licenses, in the US and the UK, provide on-chain stable stored value facilities, in line with KYC and AML compliance requirements, as well as an easy customer facing interface – Coinbase."
#CryptoAssets#CBDC#DFC
·diar.co·
IMF Explores Evolving Forms of Money, Prospects of CBDC – Diar
Why Central Bank Digital Currencies Will Destroy Cryptocurrencies by Nouriel Roubini - Project Syndicate
Why Central Bank Digital Currencies Will Destroy Cryptocurrencies by Nouriel Roubini - Project Syndicate
Nouriel Roubini: "Leading economic policymakers are now considering whether central banks should issue their own digital currencies, to be made available to everyone, rather than just to licensed commercial banks. The idea deserves serious consideration, as it would replace an inherently crisis-prone banking system and close the door on crypto-scammers."
#CryptoAssets#CBDC#DFC
·project-syndicate.org·
Why Central Bank Digital Currencies Will Destroy Cryptocurrencies by Nouriel Roubini - Project Syndicate
Reserve’s Analysis of the Basis Protocol – Reserve Currency – Medium
Reserve’s Analysis of the Basis Protocol – Reserve Currency – Medium
"Basis took Robert Sams’ Seigniorage Shares concept and developed it into a simple and elegant decentralized stablecoin protocol, which they very skillfully communicated to the public. Unfortunately, despite an honest and pioneering effort, I expect Basis to fail. They have taken many steps in the right direction, but ultimately they will not succeed in creating a reliable stablecoin."
#CryptoAssets#Stablecoins#DFC
·medium.com·
Reserve’s Analysis of the Basis Protocol – Reserve Currency – Medium
Breaking the Peg: Every Stablecoin Has Its Points of Failure
Breaking the Peg: Every Stablecoin Has Its Points of Failure
"As this brief survey demonstrates, existing stablecoin models represent a spectrum of tradeoffs between functionality, scalability, and decentralization, and offer varying levels of security and vulnerability to failures. Intensifying competition in the field will definitely push the more viable designs to the surface, and there is hope that eventually solutions that are at the same time secure, scalable, and decentralized will emerge in the market. Meanwhile, experts look at the sector’s near prospects rather optimistically."
#CryptoAssets#Stablecoins#DFC
·cointelegraph.com·
Breaking the Peg: Every Stablecoin Has Its Points of Failure
Dubai Government-Backed Digital Currency Will Get Its Own Payment System
Dubai Government-Backed Digital Currency Will Get Its Own Payment System
"Consumers in Dubai will soon be able to use digital currency to pay for goods, services, and utilities following a new government partnership, a press release confirms Tuesday, Oct. 9. The deal between emcredit, a subsidiary of the Dubai Department of Economic Development, blockchain payment provider Pundi X, and its partner Ebooc Fintech & Loyalty Labs LLC will facilitate point of sale (PoS) payments in emcredit’s emcash currency."
#CryptoAssets#CBDC#DFC
·cointelegraph.com·
Dubai Government-Backed Digital Currency Will Get Its Own Payment System
CryptoRuble: How Stable Could Russian National Stablecoin Be?
CryptoRuble: How Stable Could Russian National Stablecoin Be?
"On November 7, the chairman of Russia’s State Duma Committee on Financial Markets announced details of the “CryptoRuble,” a long-discussed government cryptocurrency project. Specifically, the official said that a state-backed stablecoin would be a complete equivalent to the Russian fiat ruble, but in a digital space. Russian authorities have now ended up with this concept after years of contradicting statements, and still, a ruble-pegged stablecoin might not turn out stable in the end."
#CryptoAssets#Stablecoins#CBDC#DFC
·cointelegraph.com·
CryptoRuble: How Stable Could Russian National Stablecoin Be?
Terra - Decentralized Stablecoin
Terra - Decentralized Stablecoin
"Terra is a protocol of money that ensures price-stability by algorithmically expanding and contracting supply. Terra's Stability Reserve makes a decentralized guarantee of solvency, protecting it from the speculative and regulatory risks that other currencies are exposed to."
#CryptoAssets#CBDC#Stablecoins#DFC
·terra.money·
Terra - Decentralized Stablecoin
Stablecoins are crypto sector’s next big bet | Financial Times
Stablecoins are crypto sector’s next big bet | Financial Times
"There are now about 120 stablecoin projects under way, according to Stable Report, a crypto research group. While they represent a small fraction of the wider cryptocurrency market, the value of all stablecoins stands at about $3bn, and their issuers have attracted some $350m in venture capital funding to date from the likes of Bain Capital Ventures, Google Ventures and Andreesen Horowitz, a report by cryptocurrency wallet provider Blockchain found."
#CryptoAssets#Stablecoins#DFC
·ft.com·
Stablecoins are crypto sector’s next big bet | Financial Times
Benoît Cœuré: The new frontier of payments and market infrastructure: on cryptos, cyber and CCPs
Benoît Cœuré: The new frontier of payments and market infrastructure: on cryptos, cyber and CCPs
A recent CPMI survey of some 80 central banks on their work [on CBDCs finds that a] clear majority, 69%, is currently, or will soon be, conducting work related to CBDCs. The remaining central banks are typically either small in size, face more pressing challenges, or indicated that they rely on work by regional research programmes or international organisations, such as the BIS or the IMF. And of those that are conducting work - you can see this on the right-hand side - the majority, 57%, investigates two broad forms of possible application: a wholesale payment application restricted to large-value and high-priority transactions, such as interbank transfers, or a widely available, consumer-facing payment instrument targeted at retail transactions - what we call general purpose CDBC.21 Recent successful experiences also show a potential for cross-border remittances-related payment services, which confirms the potential for new technologies to support financial inclusion.
#CryptoAssets#Fintech#Blockchain#CBDC#DFC
·bis.org·
Benoît Cœuré: The new frontier of payments and market infrastructure: on cryptos, cyber and CCPs
Stefan Ingves: The e-krona and the payments of the future
Stefan Ingves: The e-krona and the payments of the future
"When did you last pay with cash? I suspect it was rather a long time ago. In Swe-den, the Riksbank's money has been used for 350 years, so it entails a historical shift if you and all of us, completely stop using central bank money to make pay-ments. Today we can buy food, pay our bills and receive medical prescriptions without needing to leave our homes. The more goods and services we purchase digitally, the more we need rapid and simple payment services that are adapted to our new way of shopping. Is it a problem that cash is being used less and less? Yes, in a way it is. If the Riks-bank is to fulfil its mandate, to ensure that Sweden has a payment system that is both safe and efficient, the means of payment we issue must also be used."
#CryptoAssets#CBDC#DFC
·bis.org·
Stefan Ingves: The e-krona and the payments of the future
Here's what's happening with money around the world — Quartz
Here's what's happening with money around the world — Quartz
"We looked at 37 countries and determined how much cash is in circulation, as well as how much of it is being used. The TLDR: Electronic payment methods are booming, but as the data show, cash isn’t going down without a fight—especially in parts of the world where economic growth is both recent and fast."
#CryptoAssets#CBDC#DFC
·qz.com·
Here's what's happening with money around the world — Quartz
Cryptocurrencies—Investment or Electronic Currency of the Future? | Douglas Schulz et al
Cryptocurrencies—Investment or Electronic Currency of the Future? | Douglas Schulz et al
This article attempts to clear up many of the misunderstandings that have governments, regulators, banks, and consumers confused. The authors also posit what lies ahead for commerce, the global banking system, the unbanked without access to finance, reserve currencies, and central banking systems and that all have a ‘new player in town’.
#CryptoAssets#CBDC#DFC
·securitiesexpertwitness.info·
Cryptocurrencies—Investment or Electronic Currency of the Future? | Douglas Schulz et al
Iranian National Cryptocurrency to be Granted to Commercial Banks - IBENA
Iranian National Cryptocurrency to be Granted to Commercial Banks - IBENA
"Talking to IBENA's reporter, Seyyed Abotaleb Najafi said the national cryptocurrency has been developed and designed by Informatics Services Corporation at Central Bank of Iran's request to be utilized new technologies in expanding banking system services . He stated that the national cryptocurrency is issued by the central bank and can be used in a distributed and one-to-one framework for transferring without any institute's interference."
#CryptoAssets#CBDC#DFC
·en.ibena.ir·
Iranian National Cryptocurrency to be Granted to Commercial Banks - IBENA
The IMF’s central bank digital currency push is not about crypto — it’s about centralising banking | Attack of the 50 Foot Blockchain
The IMF’s central bank digital currency push is not about crypto — it’s about centralising banking | Attack of the 50 Foot Blockchain
"The IMF CBDC paper discusses direct central banking in a manner that tries to appear balanced. But Lagarde’s speech, and the publicity, directly advocate the idea — and not just for failing economies. What’s driving this? My current theory is the Fallacy of Big Data, and the bureaucratic urge to centralised control — if only we had more data, then we could run everything perfectly! This is not an unreasonable urge! A central bank’s job is to manage an economy. And that requires data."
#CryptoAssets#CBDC#DFC
·davidgerard.co.uk·
The IMF’s central bank digital currency push is not about crypto — it’s about centralising banking | Attack of the 50 Foot Blockchain
Casting Light on Central Bank Digital Currencies | IMF
Casting Light on Central Bank Digital Currencies | IMF
CBDC could be the next milestone in the evolution of money. The history of money suggests that, while the basic functions of money might not change, the form does evolve in response to user needs. Digitalization of many aspects of economic activity is prompting central banks to seriously consider the introduction of CBDC.
#CryptoAssets#CBDC#DFC
·imf.org·
Casting Light on Central Bank Digital Currencies | IMF
Iran Completes Development of Rial-Supported National Cryptocurrency
Iran Completes Development of Rial-Supported National Cryptocurrency
"Measures against the financial system have already started to hurt international financial settlements. This week, the U.S. armtwisted global banking network Swift into severing ties with Iran’s central bank, leaving the country and its citizens in limbo. In the cryptocurrency realm, global exchanges Binance and Bittrex have reportedly unofficially dropped Iran from the list of supported countries to receive services."
#CryptoAssets#AltCoins#CBDC#DFC
·news.bitcoin.com·
Iran Completes Development of Rial-Supported National Cryptocurrency
Central Bank of Iran (CBI) Finalizes Cryptocurrency Development of Rial-Pegged National Token
Central Bank of Iran (CBI) Finalizes Cryptocurrency Development of Rial-Pegged National Token
"Developed by the Informatics Services Corporation on behalf of the Central Bank of Iran (CBI), the banking system is planning to make use of a national cryptocurrency. Iran’s Informatics Services Corporation (ISC) a central bank-affiliated body. The crypto has been developed using open-source Hyperledger Fabric technology, the blockchain framework initially developed by IBM and New York-based industry startup Digital Asset. The Hyperledger Fabric is now code hosted by the Linux Foundation, which also leads the Hyperledger blockchain consortium."
#CryptoAssets#AltCoins#CBDC#DFC
·bitcoinexchangeguide.com·
Central Bank of Iran (CBI) Finalizes Cryptocurrency Development of Rial-Pegged National Token
Iran Completes Development of National Crypto | Bitcoin Market Insider
Iran Completes Development of National Crypto | Bitcoin Market Insider
"Iran has finalized the development of its national cryptocurrency, which is endorsed by the local fiat device, the rial. When the Central Bank of Iran (CBI) approves its use, the yet-to-be-named digital currency will then be issued to banking associations for analyzing in payments, inner and interbank settlements according to local media reports."
#CryptoAssets#AltCoins#CBDC#DFC
·bitcoinmarketinsider.com·
Iran Completes Development of National Crypto | Bitcoin Market Insider
Venezuela to Introduce Petro to OPEC as “Digital Currency for Oil” - CoinWire
Venezuela to Introduce Petro to OPEC as “Digital Currency for Oil” - CoinWire
"In a Twitter post on Wednesday, Venezuela’s minister of petroleum and government-owned oil firm PDVSA president Manuel Quevedo has announced that the country is set to introduce the Petro as the “main digital currency backed by oil” to the Organization of the Petroleum Exporting Countries (OPEC) next year."
#CryptoAssets#AltCoins#CBDC#Venezuela#DFC
·coinwire.com·
Venezuela to Introduce Petro to OPEC as “Digital Currency for Oil” - CoinWire
What is a Stablecoin, and Why Does It Matter? – SFOX
What is a Stablecoin, and Why Does It Matter? – SFOX
"In the volatile world of crypto where a coin can be worth five cents one day and five dollars two months later, the idea of a “stablecoin” — a cryptocurrency whose price experiences relatively little volatility — seems like an oxymoron. Yet more and more stablecoins are appearing these days: just last month, Paxos, Gemini, and Circle all launched their own high-profile stablecoins."
#CryptoAssets#AltCoins#Stablecoins#DFC
·blog.sfox.com·
What is a Stablecoin, and Why Does It Matter? – SFOX
On The (in)Stability of Stablecoins – Bob McElrath – Medium
On The (in)Stability of Stablecoins – Bob McElrath – Medium
A “stablecoin” is an attempt to create a synthetic asset that is “more stable” than its underlying constituents. In this article we prove that the only workable stablecoins are those that are composed of a simple (weighted) average of assets, more commonly called a “basket” or simply, “diversification of your portfolio”.
#AltCoins#CryptoAssets#Stablecoins#DFC
·medium.com·
On The (in)Stability of Stablecoins – Bob McElrath – Medium
Carbon's Stablecoin Can Now Be Swapped Between EOS and Ethereum Blockchains - CoinDesk
Carbon's Stablecoin Can Now Be Swapped Between EOS and Ethereum Blockchains - CoinDesk
"The U.S. dollar-pegged crypto token CarbonUSD has just launched as the first stablecoin on the EOS platform. The token's developer, Carbon, announced the news in a press release Friday, adding that it believes making the token interoperable across "key" blockchain networks will provide "most value for the crypto industry in the long-term." CarbonUSD, which has been live on ethereum for two months, can now be transferred onto the EOS blockchain, giving users "even lower fees and faster settlement than on ethereum," according to the firm."
#CryptoAssets#AltCoins#Stablecoins#DFC
·coindesk.com·
Carbon's Stablecoin Can Now Be Swapped Between EOS and Ethereum Blockchains - CoinDesk