Facebook has re-released plans for Libra which are scaled back from their original vision after getting significant pushback from global...
The new company called Libra Networks will focus on blockchain, payments, data analytics and investing; the information was gathered through...
There has been plenty of talk as of late about Facebook’s plans in payments and blockchain; today they announced what...
The UK's Financial Conduct Authority (FCA) released a discussion paper on blockchain that looked to better understand the new technology and how it can be used in financial services; key takeaways from the paper include the ability to cut costs and remove certain back office operations to streamline processes and increase the speed of reconciliation; while there are many potential benefits, the FCA still wants to ensure the risks don't outweigh the benefits; the FCA is also looking at how they might regulate blockchain, they typically regulate the application of technology but to ensure what they are calling "sensible development" they might consider regulating the actual ledger technology. Source
While speaking at an event by the office of Financial Research Federal Reserve Vice Chairman for Supervision Randal Quarles talk about the issues digital currencies could pose to the markets; the current level of use doesn’t pose a risk but as the scale of usage increases so does the potential potential problem; Quarles said, “if the central asset in a payment system cannot be predictably redeemed for the U.S. dollar at a stable exchange rate in times of adversity, the resulting price risk and potential liquidity and credit risk pose a large challenge for the system.”; he also talked about the the benefits of blockchain technology and if the central bank would issue their own digital currency. Source.
There was some fanfare late last week when reports came out about Facebook securing partners for their blockchain based Libra...
Coindesk has dug into the Libra white paper which references how they might address digital identities: “An additional goal of...
The long awaited white paper for Facebook’s crypto project is out and the details show the social media giant borrowed...
Report from the Federal Reserve explores blockchain for payments, clearing and settlement; paper includes information obtained from interviews with approximately 30 industry stakeholders; says distributed ledger technology could improve processes for payments, clearing and settlement however implementation and adoption of the new technology present challenges. Source
Figure has announced the commitment of a $1 billion uncommitted asset based financing facility on their Provenance blockchain; the funding...