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The rebirth of private currencies
The rebirth of private currencies
"Essentially, Walmart’s offering looks more or less the same as nineteenth-century scrip, issued to company employees who could spend it only in the company’s stores. There is no word yet on whether Walmart employees will be paid in WalCoin, but it is a reminder that history has a habit of repeating itself, just with new people and new technologies."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·medium.com·
The rebirth of private currencies
Iceland's Currency Will Be First in Europe to Be Traded as E-Money
Iceland's Currency Will Be First in Europe to Be Traded as E-Money
The Financial Supervisory Authority of Iceland approved Reykjavik-based Monerium as its first electronic money institution in June. The designation means that Monerium has regulatory approval to provide fiat payment services on a blockchain and use it throughout the European Economic Area. Electronic money is a well-established regulatory framework in Europe that’s been in use for years.
#AltCoins#Stablecoins#Fintech#CryptoAssets#DFC
·coindesk.com·
Iceland's Currency Will Be First in Europe to Be Traded as E-Money
E-money: the digital alternative to cash
E-money: the digital alternative to cash
As an electronic money institution (EMI), we are issuing asset-backed e-money on blockchains. A regulated EMI provides customers with legal protections while gaining all of the advantages afforded by blockchains: sending, receiving, and storing digital money without going through a financial institution. In contrast, virtual currencies that transact on blockchains do not offer such protections, they are not subject to the same requirements of being asset-backed, redeemable, fully audited and supervised.
#AltCoins#Stablecoins#Fintech#CryptoAssets#DFC
·monerium.com·
E-money: the digital alternative to cash
Binance Announces Open Blockchain Project ‘Venus’
Binance Announces Open Blockchain Project ‘Venus’
"Binance today announced its plans to initiate an open blockchain project, Venus, an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe. Binance is looking to create new alliances and partnerships with governments, corporations, technology companies, and other cryptocurrency companies and projects involved in the larger blockchain ecosystem, to empower developed and developing countries to spur new currencies."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·binance.com·
Binance Announces Open Blockchain Project ‘Venus’
The Libra Project: A Timely Wake-Up Call?
The Libra Project: A Timely Wake-Up Call?
"The appropriate response to Libra or the larger crypto phenomenon is not a binary yes or no. Rather, it’s to engage in a wide and deep debate on how to create technology-enabled monetary solutions that better serve humanity. So far at least, the traditional banking sector has not been up to the challenge, preferring instead to use compliance requirements as a fig leaf to protect what is an all but entrenched oligopoly."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·blogs.cfainstitute.org·
The Libra Project: A Timely Wake-Up Call?
Stablecoin On-Chain Transaction Volumes Soar, Outpace Venmo
Stablecoin On-Chain Transaction Volumes Soar, Outpace Venmo
Transfer volumes across stablecoin platforms have risen considerably in 2019. While the number of on-chain transactions across tracked stablecoins still trail that of Venmo, the aggregate total on-chain transfer volume across the largest stablecoins has now surpassed Venmo’s total payment volume .
#Fintech#CryptoAssets#AltCoins#Stablecoins#PaymentSystems#DFC
·tradeblock.com·
Stablecoin On-Chain Transaction Volumes Soar, Outpace Venmo
Facebook Isn't Behind the First Incubator for Libra Crypto Developers
Facebook Isn't Behind the First Incubator for Libra Crypto Developers
A rag-tag team of Israeli entrepreneurs is looking to leverage Facebook’s cryptocurrency project for profits, even without the $10 million required to join the Libra Association. So far the newly established startup, Libracamp, has received more than 80 applications to participate in a virtual bootcamp for Libra developers starting in November.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·coindesk.com·
Facebook Isn't Behind the First Incubator for Libra Crypto Developers
New York v. Bitfinex — “Fundamentally, Respondents misperceive the respective roles of the Attorney General and the Court.”
New York v. Bitfinex — “Fundamentally, Respondents misperceive the respective roles of the Attorney General and the Court.”
The New York Attorney General is investigating Bitfinex, Tether and various associated iFinex companies — on the basis, amongst other reasons, that there’s been funny business with the Tether “reserve”.
#Tether#Fintech#AltCoins#Stablecoins#CryptoAssets#DFC
·davidgerard.co.uk·
New York v. Bitfinex — “Fundamentally, Respondents misperceive the respective roles of the Attorney General and the Court.”
Bridging the divide
Bridging the divide
"The financial institutions that have invested in Fnality know liquidity management and settlement processes must take a quantum leap to rein in the current inefficiencies, market fragmentation and counterparty risks. These banks accept the need for change and are exploring the potential of technology, by holding tokenised assets on a blockchain to trade and settle with near-instant finality. "
#Fintech#CryptoAssets#AltCoins#Stablecoins#USC#DFC
·fnality.org·
Bridging the divide
Libra Association members refuse to public support Facebook's cryptocurrency plan
Libra Association members refuse to public support Facebook's cryptocurrency plan
Most of Libra's founding members are refusing to publicly support it. Mastercard, Uber, and PayPal are ignoring inquiries as to whether they are still committed to Libra. Only two of them agreed to answer questions from Business Insider about their support.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·businessinsider.com·
Libra Association members refuse to public support Facebook's cryptocurrency plan
Libra Cryptocurrency: Can Facebook Dominate in Money Transfers?
Libra Cryptocurrency: Can Facebook Dominate in Money Transfers?
Karl Schamotta, chief market strategist at Cambridge Global Payments, said even though Facebook’s Libra would be a unified currency, “each country in the world has idiosyncratic regulatory regimes, fragmented banking standards, and a whole lot of things that throw sand in the gears that prevents the smooth transfer of money.”
#AltCoins#CryptoAssets#Facebook#Fintech#CrossBorder#Stablecoins#Libra#DFC
·bloomberg.com·
Libra Cryptocurrency: Can Facebook Dominate in Money Transfers?
Monetary Stabilization in Cryptocurrencies - Design Approaches and Open Questions
Monetary Stabilization in Cryptocurrencies - Design Approaches and Open Questions
Based on a survey of 24 specific stablecoin projects, we go beyond individual coins for extracting general concepts and approaches. We combine our findings with learnings from classical monetary policy, resulting in a comprehensive taxonomy of cryptocurrency stabilization.
#Fintech#Stablecoins#CryptoAssets#AltCoins#DFC
·arxiv.org·
Monetary Stabilization in Cryptocurrencies - Design Approaches and Open Questions
Libra: A dramatic call to regulatory action
Libra: A dramatic call to regulatory action
Facebook’s proposed creation of Libra is a wake-up call. It makes inescapable the need for rapid, international coordination of financial regulation. Without mechanisms to ensure consistent application of coherent global rules, we may find ourselves in a world of “low-quality finance havens” that exist to evade financial regulations—not unlike the “tax havens” that already exist merely to evade taxes.
#Stablecoins#Facebook#AltCoins#CryptoAssets#Fintech#Libra#DFC
·voxeu.org·
Libra: A dramatic call to regulatory action