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John Kiff

Millions across South America hit by massive power cut - 0 views

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    Millions of people across Argentina, Uruguay, Paraguay and southern Brazil were left without power early on Sunday after a massive power failure hit all four countries.
John Kiff

Facebook's New Cryptocurrency, Libra, Gets Big Backers - 0 views

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    Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Uber Technologies Inc. to back a new cryptocurrency it plans to unveil next week and launch next year.
John Kiff

Facebook to launch Libra Blockchain testnet next week, backed by Libra Reserve - 0 views

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    Facebook and dozens of partners are set to unveil the Libra Association and Libra Blockchain next week. The Libra Blockchain will be backed by Libra Reserve, a reserve of real assets that will provide the cryptocurrency with "stability, low inflation, global acceptance, and fungibility. The Libra Blockchain will be open-sourced under an Apache 2.0 License as of the day of the announcement, and a testnet will be launched at the same time.
John Kiff

Is Facebook's Libra the Dollar's Killer App? - 0 views

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    "Facebook's Libra will pay interest to those who hold it at an equivalent rate at which banks earn interest on their deposits at the Fed. Which in turn will make people begin to wonder why the legacy banking system is not so generous with its depositors. This will put populist pressure on banks and new scrutiny on their relationship with the Fed."
John Kiff

Jack Dorsey on bitcoin, Facebook's crypto, and the end of cash - 0 views

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    "If you consider the internet to be the equivalent to a nation state, it should have a currency native to itself, and there is not going to be any one party or institution that makes this happen, and there's not going to be any one party or institution that can stop it from happening. And having a global currency that is native to the internet will allow companies like ours to move much faster and reach a lot more people."
John Kiff

Central bank digital currency (CBDC) and financial inclusion - 0 views

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    Key findings suggest that mobile money may be a positive use case for CBDC, but it is not without potential risks. The application of retail CBDC to mobile money has the potential to foster greater interoperability, improve payment efficiency, facilitate cost-saving gains by minimising reconciliation complexity and notional costs, as well as reduce the key payment risks that are typically associated with mobile money.
John Kiff

How blockchain takes us back to medieval times - 0 views

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    From the standpoint of secure, accessible books and records, DLT represents an important step forward. From a funding perspective, it is a gigantic step backward.
John Kiff

Brazil's major government and financial authorities team up to develop a Fintech sandbox - 0 views

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    Brazil's central bank, finance ministry, and the country's financial sector regulators have teamed up to develop a Fintech regulatory sandbox.
John Kiff

Facebook's New Cryptocurrency, Libra, Gets Big Backers - 0 views

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    Facebook won't directly control the coin, nor will the individual members of the consortium-known as the Libra Association. Some of the members could serve as "nodes" along the system that verify transactions and maintain records of them, creating a brand-new payments network.
John Kiff

Facebook's 'stablecoin' punt raises questions for regulators - 0 views

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    The best way to understand [where Facebook's stablecoin fit in the grand scheme of things] is to look at an admirably punchy speech that Tobias Adrian, head of the markets division at the IMF, recently gave to a meeting of central bankers in Zurich.
John Kiff

Should Central Banks Issue Digital Currency? - 0 views

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    Philadelphia Fed researchers find that a central bank digital currency might promote efficiency in exchange, but could raise bank funding costs. However, by appropriately choosing the interest rate it pays on CBDC, the central bank can balance these competing concerns.
John Kiff

Monzo launches in the US to take on America's financial giants - 0 views

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    Monzo says it will initially offer a "few thousands cards" to American customers at launch events in Los Angeles. The company has selected LA as its initial U.S. base, and is looking to expand to other cities. It will find itself up against American financial titans from J.P. Morgan to Bank of America.
John Kiff

Putting Bakkt's Bitcoin Futures to the Test - Bakkt Blog - 0 views

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    The Intercontinental Exchange's pending bitcoin platform Bakkt plans to begin testing its two futures contracts on July 22 of this year.
John Kiff

Circle Pay shuts down - FinTech Futures - 0 views

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    The Circle Pay mobile and web apps will shut down on 8 July 2019, as Circle focuses on open blockchain technology and fiat tokens and stablecoins such as USD Coin (USDC).
John Kiff

Coinbase and Circle will no longer be the only platforms to issue and redeem USDC, in n... - 0 views

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    Circle, the company behind USDC, has announced it will allow other institutions to issue and redeem the dollar-pegged stablecoin. Until now, Coinbase and Circle have been the only platforms where users can redeem their USDC, having been the sole members of the CENTRE network
John Kiff

Circle and Coinbase Open CENTRE Cross Border Stablecoin Network - 0 views

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    Blockchains may proliferate and compete across many different use cases, they would benefit from a common interoperable fiat stablecoin for major currencies that is anchored in a full reserve, transparent and compliant governance scheme.
John Kiff

Steampunk Settlement: Deploying Futuristic Technology to Achieve an Anachronistic Result - 0 views

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    In Greenwich Associates' "Steampunk Settlement: Deploying Futuristic Technology to Achieve an Anachronistic Result" they discuss the medieval results that come from the expensive deployment of futuristic technology, and challenge the idea that DLT could replace today's clearance and settlement infrastructure.
John Kiff

Assignats: The First Tokenization Transactions? - 0 views

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    Assignats were paper money backed by confiscated church properties and land, issued by the Constituent Assembly in France from 1789 to 1796, during the French Revolution.
John Kiff

The stablecoin market is booming - 0 views

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    Binance's Evolution of Stablecoins report finds that stablecoins are eating into the dominance of Bitcoin and Ethereum pairs, and have grown to represent 60% of traded volume, most of it in Tether.
John Kiff

IBM, Hyperledger Blockchain ID System for Banks Launches in Brazil - 0 views

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    CIP, a facilitator of Brazilian banking and financial infrastructure, has officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric.
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