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Calibra Technical Lead Tells Why Facebook Built New Language for Libra
Calibra Technical Lead Tells Why Facebook Built New Language for Libra
"A Libra coin uses our Move language, which is agnostic like most mainstream languages. But beyond representing the Libra currency, we also represent things like what signature must be present on a transaction to authenticate it. When building Move, we focused on creating a safe, flexible language that allows us to express concepts that are easily tweakable and easy to analyze for financial use cases."
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·cointelegraph.com·
Calibra Technical Lead Tells Why Facebook Built New Language for Libra
Blockchain, digital currency and cryptocurrency: Moving into the mainstream?
Blockchain, digital currency and cryptocurrency: Moving into the mainstream?
JP Morgan published its annual update on the latest developments in the adoption, evolution and performance of blockchain technology and cryptocurrencies. It expands on last year's report to include analysis of stablecoins and the rise of alternative noncash payments.
#Fintech#CryptoAssets#Blockchain#Stablecoins#PaymentSystems#DFC
·markets.jpmorgan.com·
Blockchain, digital currency and cryptocurrency: Moving into the mainstream?
Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows
Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows
Utility Settlement Coin (USC), the blockchain-based payments system involving commercial and central banks, will be working with ConsenSys-backed startup Adhara, CoinDesk has learned. Adhara was behind Project Khokha, which used enterprise blockchain client Quorum to see how zero-knowledge proofs performed with the South African Reserve Bank (SARB).
#Stablecoins#CryptoAssets#Fintech#USC#DFC
·coindesk.com·
Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows
Prime Broker Tagomi Becomes 22nd Member of Facebook's Libra Association
Prime Broker Tagomi Becomes 22nd Member of Facebook's Libra Association
According to TechCrunch, Tagomi is set to formally announce its intention to join the association later this week. It joins ecommerce platform Shopify, which announced it would join the group last week, joining a host of other crypto platforms, tech startups, non-profits and venture funds.
#Facebook#Fintech#Stablecoins#CryptoAssets#Libra#DFC
·coindesk.com·
Prime Broker Tagomi Becomes 22nd Member of Facebook's Libra Association
Bitfinex Repays $100M of Outstanding Loan Facility to Tether
Bitfinex Repays $100M of Outstanding Loan Facility to Tether
"Bitfinex is pleased to announce that on Friday, February 28, 2020, it repaid $100,000,000 of the outstanding loan facility to Tether. Bitfinex made this payment in fiat wired to Tether's bank account. This payment is all on account of principal. Interest on all amounts due under the facility agreement has been prepaid up to March 2020."
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·bitfinex.com·
Bitfinex Repays $100M of Outstanding Loan Facility to Tether
Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure
Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure
According to the report, Facebook no longer intends to make the Libra token the centerpiece of its digital payments strategy. Instead, Facebook’s Libra project will reportedly transition to supporting both existing government-backed currencies, like the US dollar and the euro, and the Libra token when it is eventually completed and ready to launch.
#CryptoAssets#Facebook#Stablecoins#Fintech#Libra#DFC
·theverge.com·
Facebook is shifting its Libra cryptocurrency plans after intense regulatory pressure
Too Good To Be True
Too Good To Be True
FDIC-insured banks don't hold digital assets. They hold US dollars. So this should read "collateralized 1-to-1 with US dollars held at US-domiciled, FDIC-insured banks." But even when corrected, this statement is so misleading it amounts to mis-selling. It implies that anyone who invests in this altcoin benefits from FDIC insurance. This is not the first time I have seen this claim made about cryptocurrency investments. It wasn't true last time, and it isn't now.
#Fintech#CryptoAssets#Stablecoins#DFC
·coppolacomment.com·
Too Good To Be True
FDIC Pass-Through Deposit Insurance
FDIC Pass-Through Deposit Insurance
An account that meets the definition of a fiduciary or agency account is entitled to “pass-through” deposit insurance coverage from the FDIC through the third party who establishes the account to the actual owner/principal, provided certain conditions are met.
#Fintech#CryptoAssets#Stablecoins#DFC
·fdic.gov·
FDIC Pass-Through Deposit Insurance
Stablecoins: A Brave New World?
Stablecoins: A Brave New World?
With regard to their volatile prices, limited number, small total amount, and concentrated market, stablecoins have so far met with a mixed success. They rather represent a complement to the crypto-assets market. However, the arrival of very large issuers, securing a higher degree of confidence to users, and apt to reach a wide public, could give their projects a potentially systemic impact. These global stablecoins would create risks, in particular for financial stability and monetary policy, and in lesser-developed economies. This paper reviews these risks and the way the private sector, regulators and central banks can address them.
#Fintech#CryptoAssets#Stablecoins#DFC
·publications.banque-france.fr·
Stablecoins: A Brave New World?
MakerDAO Community to Vote on Upgrades, Conduct Debt Auction
MakerDAO Community to Vote on Upgrades, Conduct Debt Auction
MakerDAO, built on the ETH network, has hastily called for a community vote on March 13 ahead of the project's first-ever Debt Auction. According to Maker, the vote will decide on needed modifications that were identified during the fallout from the recent crypto market bloodbath. MakerDAO is the DeFi protocol that creates the DAI stablecoin.
#Fintech#CryptoAssets#Stablecoins#DAI#Ethereum#MakerDAO#DeFi#DFC
·cointelegraph.com·
MakerDAO Community to Vote on Upgrades, Conduct Debt Auction
Crisis at MakerDAO as ETH crash creates bad debt worth $4 million
Crisis at MakerDAO as ETH crash creates bad debt worth $4 million
MakerDAO has been holding crisis talks after dramatic falls in the price of Ether left debt worth about $4 million under-collateralized. At one point, the platform was considering an emergency shutdown as the full impact of “Black Thursday” became clear—with ETH falling by 30% in a 24-hour period.
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#Ethereum#DFC
·modernconsensus.com·
Crisis at MakerDAO as ETH crash creates bad debt worth $4 million
MakerDAO Debts Grow as DeFi Leader Moves to Stabilize Protocol
MakerDAO Debts Grow as DeFi Leader Moves to Stabilize Protocol
MakerDAO’s emergency shutdown option – which was weighed by community members following the appearance of a $4 million debt bubble on the decentralized finance (DeFi) platform – will not pass at this time. If a shutdown was triggered by the Maker team, all dai stablecoins in circulation would convert to the underlying asset, ether (ETH).
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#Ethereum#DFC
·coindesk.com·
MakerDAO Debts Grow as DeFi Leader Moves to Stabilize Protocol
MakerDAO's Problems Are a Textbook Case of Governance Failure
MakerDAO's Problems Are a Textbook Case of Governance Failure
"Even though this particular crisis could not have been foreseen, there are steps that the Maker team could have taken to prepare for these unknown unknowns. This situation, while still actively developing, highlights that those teams who design DeFi networks cannot treat economic and governance design as “optional future TBDs.” They must proactively consider all possible (covarying) risks, assuming that users will behave in their own best interests, and make it a priority to implement governance systems that are robust to these sorts of crises."
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#DFC
·coindesk.com·
MakerDAO's Problems Are a Textbook Case of Governance Failure
The MakerDAO Auction Is Happening, Here's What to Expect
The MakerDAO Auction Is Happening, Here's What to Expect
The MakerDAO (MKR) community has locked in a March 19 auction to cover a multi-million dollar hole in DAI collateral after the sudden Ethereum (ETH) price crash on March 12. The system will auction newly minted MKR in exchange for DAI. The proceeds from the sale will be used to recapitalize the system and compensate the losses suffered by the borrowers who saw their Ethereum collateral auctioned off for zero DAI. As the stablecoin powers many decentralized finance applications, the stability of Maker is paramount for the entire ecosystem.
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#DeFi#DFC
·cointelegraph.com·
The MakerDAO Auction Is Happening, Here's What to Expect
MakerDAO’s First Debt Auction of MKR Tokens Is Successfully Underway
MakerDAO’s First Debt Auction of MKR Tokens Is Successfully Underway
Sales at this auction take a reverse-auction format, with a fixed bidding amount of 50,000 DAI placed for an initial lot of 250 MKR tokens. Bidders can then lower the amount of MKR that they would be prepared to accept for the bid, but with a minimum decrease of 3%. Each lot will continue until one of two thresholds is crossed: either 6 hours passing since the last bid, or 72 hours passing since the first bid.
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#DFC
·cointelegraph.com·
MakerDAO’s First Debt Auction of MKR Tokens Is Successfully Underway
$2 Million of MakerDAO Debt to Be Wiped as Auction Reaches Final Stages
$2 Million of MakerDAO Debt to Be Wiped as Auction Reaches Final Stages
Bidders have already committed to buying Maker (MKR) tokens for a total of $2 million in Dai (DAI) as the first phase of the MakerDAO debt auction reaches its final stages. The majority of the current winning bids were placed at around 1:25 a.m. EST, March 20, so unless further bids come in, most of the lots will be sold at around 7:25 a.m. EST."
#Fintech#CryptoAssets#Stablecoins#DAI#MakerDAO#DFC
·cointelegraph.com·
$2 Million of MakerDAO Debt to Be Wiped as Auction Reaches Final Stages
The Maker Foundation appears to be winning MKR auctions meant to cover a debt shortfall
The Maker Foundation appears to be winning MKR auctions meant to cover a debt shortfall
MakerDAO is currently conducting an auction of MKR tokens in exchange for DAI to cover roughly $4.5 million undercollateralized debt. The Maker Foundation, the non-profit that supports the lending protocol, appears to have won 33 out of 33 auctions thus far. The Foundation said it has been providing some bidders with “technical assistance” to help facilitate their participation in the auctions, stressing that it is not “purchasing MKR in the auctions”"
#Fintech#CryptoAssets#Stablecoins#MakerDAO#DAI#DFC
·theblockcrypto.com·
The Maker Foundation appears to be winning MKR auctions meant to cover a debt shortfall