A conscientious look over the last few centuries would reveal that the brief history of the United States is riddled with national credit defaults. From the Funding Act of 1790 to the collapse of the Bretton Woods system in the 1970s – in all these instances, the people, businesses and Allied nations that relied on … Continue reading Blockchain: The Trust Alternative to the History of US National Credit?
French fintech giants, Ingenico and Worldline are merging in a deal worth €7.8 billion according to a press release on Feb. 3. The deal will effectively create the fourth largest company in the global financial technologies sector. Terms of merger In the agreement, the new firm will have a shareholder split of 65/35 between the Worldline … Continue reading Worldline and Ingenico Will Merge Creating FinTech Payments Super Giant
Federal Reserve Governor, Lael Brainard said that the Fed is weighing the developments and policy issues in the digital payments sector and experimenting with central bank digital currencies (CBDC) in consideration of potentially issuing its own digital currency. According to Reuters, Brainard’s comments while speaking with the Stanford Graduate School of Business on Feb. 5, … Continue reading Federal Reserve Considers a FEDcoin in Wake of Rising Stablecoin and CBDC Development
Ethereum development studio ConsenSys is makinga move on the less glamorous and often-forgotten local municipal bond market. ConsenSys has recently acquired brokerage firm Heritage Financial Systems in an attempt to modernize the municipal bond market, which is notoriously error-prone and out-dated. In an effort to place the traditional and inflexible municipal bonds market on the … Continue reading ConsenSys Acquires US Brokerage Firm to Tokenize Outdated Municipal Bonds Market
VanEck has outlined the case for institutional Bitcoin (BTC) investment in a report published on Jan. 29. According to the investment management firm, even a small amount of BTC allocation could improve a portfolio’s upside. As shown in the report, Bitcoin has a history of outperforming tradition asset classes as well as a track record of … Continue reading VanEck Makes the Case for Institutional Bitcoin Investment
Japanese Lawmaker, Kozo Yamamoto has called for the expedited development of Japan’s digital yen as the race to be the first nation with an operating central bank digital currency (CBDC) heats up. Yamamoto who is Head of Bank and Finance Systems Research Commission at the Liberal Democratic Party (LDP), said that Japan should create a … Continue reading Japanese Lawmaker Urges Digital Yen Development to Curb China Dominance
Klaytn has announced that Huobi has signed on as the latest member of its Governance Council for South Korean internet giant Kakao’s public blockchain project. Huobi Takes Seat at Klaytn’s Table According to the press releaseon Feb. 10, with the addition of the cryptocurrency exchange Huobi, the Klaytn Governance Council now has 28 enterprises onboard, these … Continue reading Klaytn Adds Huobi to Growing Blockchain Governance Council
Blockstack recently released a white paper for a new blockchain consensus mechanism called Proof of Transfer (PoX). The mechanism is for blockchains piggybacking off the Bitcoin blockchain and would require miners to commit BTC to secure the block rather than proof of work. PoX will be the consensus mechanism used for Blockstack’s project Stacks 2.0and … Continue reading Blockstack Breaks New Ground with Proof of Transfer (PoX) Consensus Mechanism, like PoS Without the Risk
The Internal Revenue Service will not clarify how taxes work with cryptocurrencies and digital asset transactions according to a US congressional watchdog’s report released on Wednesday. Following Rep. Ken Brady’s (R-TX) request for clarity on how taxes are levied against cryptocurrency, the Government Accountability Office (GAO) published a report evaluating the IRS’ current approach and public … Continue reading IRS Refuses Watchdog Request to Clarify 2019 Crypto Tax Guidelines
Canada Stablecorp Inc. has launched a new regulated Canadian Dollar pegged stablecoin called “QCAD”. Canada Stablecorp Inc. is a joint venture between 3iQ, Canada’s largest cryptocurrency manager and blockchain development leaders, Mavenet. QCAD’s launch was officially announced in a press release on Feb. 11. Built on the Ethereum blockchain, QCAD utilizes the ERC-20 token standard and is the … Continue reading Canadian Dollar Stablecoin QCAD Launched for Mass Market