Skip to main content

Home/ Fintech Daily Digest/ Group items tagged Infrastructure

Rss Feed Group items tagged

John Kiff

Thai central bank to work with HKMA on cross-border blockchain - 0 views

  •  
    Thailand's central bank announced it is working with the Hong Kong Monetary Authority to develop interoperability among ledgers for cross-border funds transfer. The collaboration is part of the third phase of the Bank of Thailand's Project Inthanon.
John Kiff

Call for applications - central bank digital currency experimentations - 0 views

  •  
    The Banque de France is calling for applications to experiment with a wholesale central bank digital currency for interbank settlements.
John Kiff

Bitcoin and Doomsday Preppers - Would Crypto Have Any Survival Value If SHTF? - 0 views

  •  
    No electricity means no bitcoin transactions and no mining. Although people have gotten creative and sent transactions which initially do not require internet, cellular data, or electricity other than batteries, ultimately the system depends on a power source and network connectivity to function long term. So when it comes to the complete lights out scenario collapsitarians are envisioning, crypto would indeed seem to be a largely useless appendage.
John Kiff

The state of mobile in Ghana's tech ecosystem - 1 views

  •  
    Ghana has the highest mobile penetration in West Africa and already outperforms many of its regional peers. By the end of 2019, mobile adoption stood at 55 per cent, higher than the regional average which is at 44.8 per cent. This means a huge number of people can be served through digital services, positively impacting the growth of the digital economy.
John Kiff

FedNow: the advantage of going last - 0 views

  •  
    Embarking on an instant payment project after these three major economies have already done so may be an advantage for the Fed. While interconnectivity, fraud prevention and directory services might be something the Fed wants to solve at the initial launch - given its three objectives related to ubiquity, safety and efficiency - each approach faces a trade-off against time to market. The potential impact of Facebook's libra may push timing higher up the pecking order. The Fed faces important choices ahead.
John Kiff

PBoC and Swift to offer cross-border payments services - 0 views

  •  
    The People's Bank of China (PBOC) announced that its joint venture with SWIFT will start offering cross-border transaction services. The Finance Gateway Information Services Company will set up a Chinese network for financial messaging services. The firm will also set up a localized data warehouse to monitor and analyse cross-border payment messaging. The Finance Gateway Information Services Company was set up in mid-January, as a joint venture between SWIFT and the China National Clearing Centre, a PBOC subsidiary. Minority shareholders include China's Cross-border Interbank Payment System (CIPS), the Payment & Clearing Association of China and the PBoC Digital Currency Research Institute.http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4212383/index.html
John Kiff

Project New Dawn: A Digital Cash Infrastructure for All - 0 views

  •  
    EMTECH-spearheaded Project New Dawn (PND) is a technical implementation of a retail central bank digital currency (CBDC) that runs on an Ethereum-based platform. PND is also working with the Hedera Hashgraph Network, to develop further understanding how to use interoperability to provide trust in the private sector part of the two-tiered CBDC network. https://futuremtech.com/central-bank-digital-cash/
John Kiff

Paxos Completes Same Day Stock Settlement with Credit Suisse and Instinet - 0 views

  •  
    Paxos Trust Company has completed a same-day settlement of US-listed equity trades in partnership with Instinet and Credit Suisse on its Paxos Settlement Service permissioned blockchain solution. Paxos said the project demonstrated its ability to enable same-day settlement for trades conducted throughout the day. In the current system, settlement can only occur the same day if trades are completed before 11 AM ET and therefore is rarely utilized. The platform is said to be interoperable with the legacy clearing system and can facilitate settlement on any time cycle.
John Kiff

Digital Euro - 0 views

  •  
    "Experts from the euro area national central banks and the ECB participated in the experiments, which were grouped into four work-streams. These work-streams assessed different design features covering four main areas: the digital euro ledger, privacy and anti-money laundering (AML-CFT), limits on digital euro in circulation, and end-user access. The objective was to address the key design questions that had been left open by the Report on a Digital Euro. The experiments were conducted in a multidisciplinary environment and also involved participants from academia and the private sector, without endorsing any specific technical solution."
John Kiff

HKMA joint research with Bank of Thailand - Project LionRock-Inthanon - 0 views

  •  
    As a follow-up to the MoU signed between the HKMA and the Bank of Thailand in May 2019, the two authorities are conducting a joint research project named Project LionRock-Inthanon to study the application of Central Bank Digital Currency (CBDC) to cross-border payments, with a view to facilitating HKD-THB payment-versus-payment (PvP) among banks in Hong Kong and Thailand. A joint report is scheduled to be released in Q1 2020.
John Kiff

The role of Tips for the future payments landscape - 0 views

  •  
    The Eurosystem's retail payments strategy aims to foster innovative and cost-efficient payments. Providing the possibility to make easy, instant, efficient and safe payments to any counterparty, anywhere in Europe, is the cornerstone of this strategy. Within this framework, the Eurosystem has launched a powerful platform for the continuous settlement of instant payments: Target Instant Payment Settlement (Tips).1 This article explains the characteristics of this platform and its possible role in the future European payments landscape."
John Kiff

Ukrainian Ministry of Digital Transformation to facilitate CBDC infrastructure with the... - 0 views

  •  
    The Ministry of Digital Transformation of Ukraine and the Stellar Development Foundation signed a Memorandum of Understanding and Cooperation, within which they will work on the development of a strategy for virtual assets in Ukraine. The focus of the partnership will be on development of virtual asset markets, implementing stablecoin and regulation, and developing the Central Bank in Ukraine's digital currency (e-hryvnia).
John Kiff

Alternative Credit Scoring of Micro-, Small and Medium-sized Enterprises - 0 views

  •  
    To develop the related technology for alternative credit scoring, the HKMA has commissioned the Hong Kong Applied Science and Technology Research Institute (ASTRI) to study the use of artificial intelligence in SME loan applications; and published a white paper to deliver the findings.
John Kiff

Stablecoins: Implications for monetary policy, financial stability, market infrastructu... - 0 views

  •  
    This European Central Bank (ECB) paper summarises the outcome of an analysis of stablecoins undertaken by the ECB Crypto-Assets Task Force. At the time of writing, the stablecoin debate lacks a common taxonomy and unambiguous terminology. This paper applies a definition that distinguishes stablecoins from existing forms of currencies - regardless of the technology used - and characterises stablecoin arrangements based on the functions they fulfil. This approach emphasises the role of technology-neutral regulation in preventing arbitrage, as well as comprehensive Eurosystem oversight, irrespective of stablecoins' regulatory status. Against this background, this paper assesses stablecoins' implications for the euro area based on three scenarios for the uptake of stablecoins.
John Kiff

Eurosystem lays out retail digital payment strategy - 0 views

  •  
    The Eurosystem is pursuing a new strategy to respond to the rapid digitalisation of the eurozone's payments market, partly in response to the Covid-19 pandemic. Fabio Panetta, of the European Central Bank's executive board, said the strategy would increase the provision of cash and instant payments. It would also include new supervisory methods and work on the digital euro. He said that European authorities must ensure that digital payments are underpinned by a competitive and innovative market capable of meeting consumer demand, while preserving European sovereignty. https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201022~d66111be97.en.html
John Kiff

DeCurret to Hold a Study Group on Digital Currency Settlement Infrastructure in Japan - 0 views

  •  
    Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corp. are looking to link their digital currencies to East Japan Railway's Suica smart transit card. The Suica card is increasingly being accepted for purchases at stores and kiosks, especially within train stations, but it cannot be used for bank account transfers. Last year Mizuho rolled out its J-Coin Pay platform which can be used to transfer money or for QR-code payments. Meanwhile, MUFJ is reworking plans for its MUFG Coin digital currency.
John Kiff

Compendium of Practices for Central Bank Digital Currencies for Multinational Financial... - 0 views

  •  
    This paper surveys DLT-based wholesale CBDC experiments with completed proof-of-concept prototypes from across the world for which there is publicly-available information. It also seems to cover projects that go beyond CBDCs into private-sector projects. But it looks to provide a possibly useful classification framework for CBDCs and use cases in the financial services industry.
John Kiff

Chinese state-run banks start testing PBoC's 'e-wallet' - 0 views

  •  
    China's largest state-owned banks have reportedly started testing the "electronic wallet" component of the People's Bank of China's (PBOC's) "digital yuan" project. The tests are being conducted in cities including Shenzhen, which borders Hong Kong. The municipal government of Shenzhen said it would cooperate in efforts to test the system for different applications. Banks are testing the e-wallet application to transfer money and make payments using the PBoC's digital yuan. The e-wallet, which can be downloaded as a mobile application, will be linked to a user's national ID number or telephone number to enable fund transfers.
John Kiff

Low Internet Access Driving Inequality - 0 views

  •  
    COVID-19 and the Great Lockdown triggered a mass migration from analog to digital and highlighted that access to the Internet is crucial for socioeconomic inclusion. However, Internet usage remains a luxury: half of the world's population does not have access to the Internet, either through a mobile device or through fixed line broadband. The digital divide - the gap between those who have Internet access and those who don't - is more like a chasm, both within and between countries.
John Kiff

mBridge - Building a multi CBDC platform for international payments - 0 views

  •  
    The BIS Innovation Hub published a brochure for its mBridge project with a comprehensive list of use cases contributed by 22 commercial banks across four different jurisdictions (China, Hong Kong, Thailand and the United Arab Emirates). The mBridge trial platform has shown that CBDCs can substantially increase the speed of cross-border payments from multiple days to near real-time, while also reducing cost. The project is using an agile and iterative development approach, plus a modular bricks design.
« First ‹ Previous 421 - 440 of 447 Next ›
Showing 20 items per page