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Telegram’s Blockchain OS Could Soon Appear in App Stores
Telegram’s Blockchain OS Could Soon Appear in App Stores
The Telegram Open Network (TON) operating system (OS), an end-to-end open-source infrastructure that allows developers and users to work with the TON blockchain, will reportedly soon be available on smartphones and personal computers for mainstream users. TON OS is not an alternative to existing operating systems, but will serve as an add-on for devices, making them able to support blockchain applications. This is despite Telegram’s ongoing legal battle against the U.S. SEC. (Telegram is seeking to appeal a U.S. federal court’s ruling in favor of the SEC to halt the distribution of the platform's native Gram tokens.)
#Fintech#CryptoAssets#Blockchain#Telegram#Stablecoins#DFC
·cointelegraph.com·
Telegram’s Blockchain OS Could Soon Appear in App Stores
What is Synthetix? A 3-minute guide to the trading platform
What is Synthetix? A 3-minute guide to the trading platform
Synthetix is a token trading platform built on Ethereum. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Synthetix started as a stablecoin project called Havvenout, before pivoting to DeFi. Much of Synthetix’ recent success can be attributed to its innovative token incentive model. SNX holders stake SNX in return for fees from the Synthetix exchange and rewards from the system’s inflationary monetary policy.
#Fintech#CryptoAssets#Stablecoins#DeFi#Synthetix#DFC
·decrypt.co·
What is Synthetix? A 3-minute guide to the trading platform
Embedded supervision: how to build regulation into Libra 2.0 and the token economy
Embedded supervision: how to build regulation into Libra 2.0 and the token economy
Taking the example of the revised proposal for the Libra global stablecoin, this column describes how supervisors could harness information in distributed ledger based-finance via “embedded supervision.” The aim is to increase the quality of data available to supervisors and reduce administrative costs for firms. The policy note concludes by discussing legislative and operational ways to promote low-cost supervision and a level playing field for small and large firms.
#Fintech#CryptoAssets#Stablecoins#Facebook#Supervision#Libra#DFC
·suerf.org·
Embedded supervision: how to build regulation into Libra 2.0 and the token economy
Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M
Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M
The Bitfinex crypto exchange is making a new push to find and potentially recover more than $800 million in user funds seized by legal authorities in four different countries after its payment processor’s bank accounts were frozen. The funds were seized by authorities pursuing anti-money laundering criminal charges against Crypto Capital.
#Fintech#CryptoAssets#Stablecoins#Tether#Bitfinex#DFC
·coindesk.com·
Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M
Facebook's Calibra Team Introduces A Novel Distributed Audit Protocol
Facebook's Calibra Team Introduces A Novel Distributed Audit Protocol
Calibra published a paper on a novel distributed auditing proofs of liabilities (DAPOL) protocol designed to introduce additional optimization and enhanced privacy to existing distributed audit procedures. It allows entities to undergo a distributed audit of their liabilities and it works in any situation where an entity does not have a motivation to overstate its liabilities.
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·cointelegraph.com·
Facebook's Calibra Team Introduces A Novel Distributed Audit Protocol
Frances Coppola: Stablecoins Are Built on Smoke and Mirrors
Frances Coppola: Stablecoins Are Built on Smoke and Mirrors
U.S. Stablecoin reserves may not be fully protected by FDIC insurance. And if they aren’t, then stablecoins may actually be less secure than ordinary bank deposit accounts. If people really are investing in stablecoins because they think they are safer than bank deposit accounts, I’m afraid they have allowed the smoke to get in their eyes and the mirrors to blind them.
#Fintech#CryptoAssets#Stablecoins#DFC
·coindesk.com·
Frances Coppola: Stablecoins Are Built on Smoke and Mirrors
$10 billion stablecoin boom as Bitcoin halving nears
$10 billion stablecoin boom as Bitcoin halving nears
Anticipation of Bitcoin’s halving could be driving the issuance of stablecoins. A record $3 billion of stablecoins were deposited on exchanges this year. Stablecoins are increasingly being used to enable Asian trade finance. Businesses in Malaysia and Indonesia, for example, are using stablecoins to pay their suppliers in China, transferring funds via ETH wallets. But stablecoins are still mainly used for crypto trading and enabling capital flight out of China.
#Fintech#CryptoAssets#Stablecoins#DFC
·decrypt.co·
$10 billion stablecoin boom as Bitcoin halving nears
Telegram Decides to Immediately Buyout US-Based Gram Investors
Telegram Decides to Immediately Buyout US-Based Gram Investors
Telegram is now forcing the U.S.-based Gram token investors to take the 72% refund and exit the TON blockchain project. The encrypted messaging platform has also retracted last week's offer to pay investors in Gram tokens at all. These moves were based on the scheme's uncertain reception from the U.S. regulators.
#Fintech#CryptoAssets#Stablecoins#Telegram#DFC
·financemagnates.com·
Telegram Decides to Immediately Buyout US-Based Gram Investors
A regulatory and financial stability perspective on global stablecoins
A regulatory and financial stability perspective on global stablecoins
This ECB article focuses on the global stablecoin asset management functions, assessing their regulatory and financial stability implications. It argues that regulatory gaps may exist with certain design features, and concludes that the malfunctioning of that function could pose risks to financial stability given its potential size and interlinkages with the financial system. Also, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate.
#Fintech#CryptoAssets#Stablecoins#Facebook#Libra#DFC
·ecb.europa.eu·
A regulatory and financial stability perspective on global stablecoins
Alliance for Prosperity: 75 Members Strong & First Integrations Live
Alliance for Prosperity: 75 Members Strong & First Integrations Live
There are now 75 members in Celo's "Alliance for Prosperity" stablecoin payments network ahead of its mid-May mainet launch. Celo is a mobile-first blockchain-based platform alongside a suite of financial tools accessible to anyone with a basic smartphone. The stability protocol can host an ecology of stable value currencies like the Celo Dollar, regional currencies, and commodity prices.
#Fintech#PaymentSystems#CryptoAssets#Stablecoins#Celo#DFC
·medium.com·
Alliance for Prosperity: 75 Members Strong & First Integrations Live
What We Can Learn From Telegram’s Token Troubles - CoinDesk
What We Can Learn From Telegram’s Token Troubles - CoinDesk
Will Telegram be able to retain funds sufficient to fight the SEC, maintain its ever-growing messenger, continue developing the blockchain and potentially fight additional legal claims from some of its investors? The significant portion of the remaining $1.2 billion would need to be retained to make it happen.
#Fintech#CryptoAssets#Telegram#Stablecoins#PaymentSystems#DFC
·coindesk.com·
What We Can Learn From Telegram’s Token Troubles - CoinDesk
Stablecoins as a collateral sinkhole
Stablecoins as a collateral sinkhole
As the ECB noted in a recent stablecoin research piece in an extreme-case scenario where libra coins prove as popular as Facebook, the global size of the Libra Reserve could reach almost €3tn of assets under management! In that context it’s fair to say the Libra Reserve’s potentially endless demand for safe assets could swiftly transform it into a self-consuming Ouroboros. Especially in the current crisis environment.
#Fintech#CryptoAssets#Stablecoins#Facebook#Rehypothecation#SafeAssets#Libra#DFC
·ftalphaville.ft.com·
Stablecoins as a collateral sinkhole
Libra Association Names HSBC Chief Legal Officer as First CEO
Libra Association Names HSBC Chief Legal Officer as First CEO
The Libra Association has named HSBC Chief Legal Officer Stuart Levey as its first chief executive. He has been at HSBC since 2012 and previously served the U.S. government as Under Secretary of the Treasury for Terrorism and Financial Intelligence under the presidencies of George W. Bush and Barack Obama, and has a background in combating illicit finance.
#Fintech#CryptoAssets#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·coindesk.com·
Libra Association Names HSBC Chief Legal Officer as First CEO
Bison Trails Announces Support for Celo Platform
Bison Trails Announces Support for Celo Platform
Bison Trails has announced support for the Celo open network, which enables smartphone users to send crypto directly to a phone number instead of a blockchain address. The added support means that users will be able to transfer value using Celo's stablecoin pegged to the U.S. dollar on the Bison Trails platform. The Celo tech system has three layers: Celo Blockchain, Celo Core Contracts, and Application, and uses Earned Value Management and the Go-Ethereum protocol for their underlying node system.
#Fintech#CryptoAssets#Stablecoins#Celo#DFC
·cointelegraph.com·
Bison Trails Announces Support for Celo Platform
Telegram Agrees to Hand Over Trove of ICO Documents to SEC
Telegram Agrees to Hand Over Trove of ICO Documents to SEC
Telegram has filed an order of consent agreeing to provide a trove of communications and documentation requested by the U.S. SEC on May 7. The communications concern the distribution of Telegram’s Gram tokens and purchase agreements relating to its 2018 ICO. Telegram’s consent comes amid the Free Telegram Open Network community’s decision to launch a version of the TON blockchain via a ‘fork’.
#Fintech#CryptoAssets#Stablecoins#Telegram#PaymentSystems#DFC
·cointelegraph.com·
Telegram Agrees to Hand Over Trove of ICO Documents to SEC
Stablecoin Heatmaps Show Tether is Mostly Used During Asian and European Market Hours
Stablecoin Heatmaps Show Tether is Mostly Used During Asian and European Market Hours
Stablecoin transfer patterns show that different stablecoins are potentially being used for different purposes, and are favored in different parts of the world. USDT-ETH transfers are concentrated during Asian and European market hours. USDC transfers are also clustered during Asian market hours, but not as densely packed as USDT-ETH. PAX transfers are more dispersed, which could signal that it is being used for non-institutional purposes. And DAI transfers mostly occur during U.S. hours.
#Fintech#CryptoAssets#Stablecoins#Tether#USDC#Paxos#DAI#DFC
·coinmetrics.substack.com·
Stablecoin Heatmaps Show Tether is Mostly Used During Asian and European Market Hours
Telegram Abandons TON Blockchain Project After Court Fight With SEC
Telegram Abandons TON Blockchain Project After Court Fight With SEC
Telegram has given up on its upcoming Telegram Open Network blockchain network, following a lengthy, protracted dispute with the SEC. Since October 2019, the SEC has alleged that Telegram’s $1.7 billion ICO in 2018 for the Grams crypto-asset that powers the network, constituted an illegal securities sale.
#Fintech#CryptoAssets#Stablecoins#Telegram#PaymentSystems#DFC
·telegra.ph·
Telegram Abandons TON Blockchain Project After Court Fight With SEC
Accredited Investors on CoinList Pour $10M Into Celo Token Sale in Roughly 12 Hours
Accredited Investors on CoinList Pour $10M Into Celo Token Sale in Roughly 12 Hours
Silicon Valley blockchain startup cLabs just raised $10 million for the Celo project through a token sale to accredited investors on the CoinList platform. Roughly 109 investors from dozens of countries participated in the auction, paying an average of $5 per Celo Gold token. The average buyer spent $519 on these tokens and often earned 50 bonus tokens for referrals.
#Fintech#CryptoAssets#Stablecoins#Celo#DFC
·coindesk.com·
Accredited Investors on CoinList Pour $10M Into Celo Token Sale in Roughly 12 Hours
Visa Applies For Digital Dollar Blockchain Patent
Visa Applies For Digital Dollar Blockchain Patent
Visa has filed a patent application to create "digital fiat currency" on a centralized computer using blockchain technology. The computer generates digital currency for the denomination requested and links it to a serial number, and records it on a blockchain. http://appft1.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=/netahtml/PTO/srchnum.html&r=1&f=G&l=50&s1=20200151682.PGNR.
#Fintech#Blockchain#CryptoAssets#VISA#Stablecoins#DFC
·forbes.com·
Visa Applies For Digital Dollar Blockchain Patent
Trolly McTrollface's theory on what’s backing Tether — loans to Bitcoin miners, backed by bitcoins.
Trolly McTrollface's theory on what’s backing Tether — loans to Bitcoin miners, backed by bitcoins.
Bitcoin miners need cash to pay their electricity bills. They could sell their rewards on exchanges which someone would have to buy, to prevent BTC from crashing. Tether and Bitfinex have real money from those who trade on its exchange, but why would they buy miners' BTC, when they can loan them the money instead? And if a miner defaults, it's not Tether the company that takes the hit, but USDT holders. Maybe that's the real reason why Tether/Bitfinex don't want an audit. Not because USDTs aren't backed, but because they're backed by miners' BTC. And because Tether controls the miners, they also control Bitcoin.
#Fintech#CryptoAssets#Bitcoin#Tether#Bitfinex#Stablecoins#DFC
·twitter.com·
Trolly McTrollface's theory on what’s backing Tether — loans to Bitcoin miners, backed by bitcoins.
Majority of TON Investors Reportedly Choose to Quit for 72% Refund
Majority of TON Investors Reportedly Choose to Quit for 72% Refund
Prior to abandoning its involvement in the Telegram Open Network and GRAM token, Telegram offered TON investors in its 2018 $1.7 billion initial coin offering an immediate 72% refund, or a 110% refund in 12 months. However, the majority of TON investors purportedly decided to get their money back as soon as possible, choosing the 72% option.
#Fintech#CryptoAssets#Telegram#Stablecoins#PaymentSystems#DFC
·cointelegraph.com·
Majority of TON Investors Reportedly Choose to Quit for 72% Refund
Facebook’s Libra Adds Firepower To Its Leadership
Facebook’s Libra Adds Firepower To Its Leadership
The Libra Association announced Robert Werner as General Counsel. He adds more regulatory and financial compliance firepower to the Facebook inspired stablecoin and blockchain project. This executive change comes just after the announcement of Libra’s new CEO, Stuart Levey, who recently stepped down from HSBC Holdings as Chief Legal Officer.
#Fintech#CryptoAssets#Stablecoins#Facebook#PaymentSystems#Libra#DFC
·forbes.com·
Facebook’s Libra Adds Firepower To Its Leadership
Raiffeisen Bank International (RBI) to Pilot Digitized National Currency
Raiffeisen Bank International (RBI) to Pilot Digitized National Currency
Billon and Raiffeisen Bank International are extending a successful proof-of-concept of a national currency tokenization platform into a pilot project, which will include selected RBI corporate and institutional clients. This pilot will lever a new form of national currency tokenization using Billon’s distributed ledger technology, successfully tested during RBI’s Elevator Lab acceleration program earlier this year.
#Fintech#CryptoAssets#Blockchain#Tokenization#Stablecoins#DFC
·prweb.com·
Raiffeisen Bank International (RBI) to Pilot Digitized National Currency
Nearly $5 billion in Tethers were issued since January. Why? - Decrypt
Nearly $5 billion in Tethers were issued since January. Why? - Decrypt
Bitcoin's price is determined by the total dollars, both fiat and Tether, in the system. Nicholas Weaver, a researcher at the International Computer Science Institute in Berkeley, believes that actual dollars in the system are depleted as Bitcoin miners need cash to pay their electricity costs. If the amount of real dollars in the ecosystem hits zero, Bitcoin will collapse, he argues. (Exchanges, typically those that lack links to traditional banking, use Tether in lieu of real dollars as a way to bring liquidity to the crypto markets and hedge against volatility.)
#Fintech#CryptoAssets#Stablecoins#Tether#DFC
·decrypt.co·
Nearly $5 billion in Tethers were issued since January. Why? - Decrypt
Terra’s Approach to Decentralization
Terra’s Approach to Decentralization
Terra aims to provide a price stable cryptocurrency, built on top of the Cosmos SDK, that will function as the infrastructure layer for decentralized financial applications. The protocol utilizes an elastic monetary supply that allows for both a stable price and the censorship resistant capabilities of Bitcoin to be maintained, enabling it to be used in everyday transactions. Currently, Terra is the backend technology powering CHAI, a mobile payments application that allows users to link their bank accounts and participate in ecommerce using Terra’s currency and receiving discounts in exchange.
#Fintech#CryptoAssets#Blockchain#ProofOfStake#Terra#Stablecoins#DFC
·blog.consensusnetworks.com·
Terra’s Approach to Decentralization
Celo's Approach to Decentralization
Celo's Approach to Decentralization
Aiming to overcome price-volatility and ease of use problems associated with many cryptocurrencies, Celo seeks to bring financial infrastructure and tools to anyone with a smartphone.  To reach this goal, Celo is taking a full-stack approach and introducing innovations at the networking and application layers with technologies like a lightweight address-based encryption scheme, an ecosystem of stable-value tokens, and novel system architectures. "
#Fintech#CryptoAssets#Blockchain#ProofOfStake#Stablecoins#Celo#DFC
·blog.consensusnetworks.com·
Celo's Approach to Decentralization