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Showing posts with the label blockchain

The FedNow℠ Service: The Fed's Blockchain?

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The Federal Reserve Board announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow℠ Service, to support faster payments in the United States.

This is a direct response to the threat posed by digital currencies and blockchain. According to one Fed official, "Last summer, the U.S. Treasury recommended that 'the Federal Reserve move quickly to facilitate a faster retail payments system, such as through the development of a real-time settlement service, that would also allow for more efficient and ubiquitous access to innovative payment capabilities.'” Sounds like blockchain to us, thus, we expect this new system to be blockchain enabled. (For more on blockchain, see: What is Bitcoin? How does it relate to blockchain? Henry Zhang, Creative Investment Research Impact Investing Intern. University of Toronto.  Online at: https://creativeinvest.com/crypto/bitcoinfaq.html)

As we noted in our paper &quo…

The Future of Money, Governance, & the Law. September 14 to September 15, 2019

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Why Regulating Facebook's Libra is a Waste of Time

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Facebook’s recently announced cryptocurrency pilot, Libra, claims it will “transform the global economy.”

The company hopes that anyone would be able to send Libra through platforms like Facebook messenger and WhatsApp to act as an intermediary for transferring traditional currencies. The ultimate goal is to have this currency accepted as a (general) form of payment. And other financial services will be built on top of its blockchain-based network, called the Libra Blockchain, a “proof of authority" permissioned blockchain system.

See: https://www.americanbanker.com/opinion/regulating-libras-a-waste-of-time

Blockchain, Cryptocurrency and Africa by Diya Wang (Georgetown University) and Zhiqiang Qing (University of Maryland), Interns

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The Future of Money by Peter Hamilton (University of Miami), Impact Investing Analyst, Creative Investment Research.

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Impact Investing