The title was “The Evolution of Money”, where one of previous sharing back in 2018 on Blockchain, Bitcoin, Money fit perfectly for the content to be shared.

After 4 years, it has become clearer on the progress and future of the money we are augmenting, through the blockchain and emerging tech space.

The interesting part would be how we are going to formulate and eventually actualize the future monetary system taking the best from both the legacy financial system and the crypto realm.

Blockchain, Bitcoin, Money

The Future of Money (Webinar Recording)

Gold Standard 2.0

Are we going back to Gold Standard or a better one getting the best from both existing systema and the native digital asset?

This is an interesting open discussion but we are progressing anyhow in achieving shared prosperity.

Crypto’s adaptability, openness key to ideal monetary system, say BIS execs

Happened to come across this article by CoinTelegraph titled “Crypto’s adaptability, openness key to ideal monetary system, say BIS execs” which shows the diagram from Bank for International Settlements’ suggested future monetary system, that can be improved both on today’s monetary system and crypto.

Coincide with that Two Monetary Worlds diagram above but the one from BIS in tabular form and more detailed.

Notes

Russian gov’t working on stablecoin settlement platform between friendly nations: State media

Russia’s Finance Ministry has reportedly begun working with the governments of “friendly” nations to establish a cross-border stablecoin-based payments platform.

“We offer mutually acceptable tokenized instruments that will be used on these platforms, which are essentially clearing platforms that we are currently developing with countries,” said Moiseev. “Stablecoins can be pegged to some generally recognized instrument, for example, gold, the value of which is clear and appreciable for all parties involved.”

https://cointelegraph.com/news/russian-gov-working-on-stablecoin-settlement-platform-between-friendly-nations-state-media

Follow The Yellow BRIC Road (To A New Digital Reserve Currency?)

The history and future of money: Before Babylon, Beyond Bitcoin

It does make you wonder, though, whether the world does need a new reserve currency.

Do we need a new digital gold standard?

And if so, should it be fiat or commodity-based?

And if it’s to be commodity-based, then what commodity?

Should there be a digital gold standard?

In June, President Putin (presumably stimulated by the international community’s response to Russia’s invasion of Ukraine) said that Brazil, Russia, India, China, and South Africa (the BRICS) are developing a new basket-based reserve currency.

The presumption is that it will comprise real, roubles, rupees, renminbi and rand to present an alternative to the IMF’s Special Drawing Right (SDR).

Much as Facebook’s doomed Libra project wanted to, the goal is to create a stable reserve currency that can be used for international commerce.

In this case, the Brics Bucks (as I call them) reserve will be independent of the dollar completely.

https://www.forbes.com/sites/davidbirch/2022/08/16/follow-the-yellow-bric-road-to-a-new-digital-reserve-currency/?sh=1542853ef949

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enabling everyone to contribute to a project’s growth and receive incentives based on their hard work.

a framework to ensure that daily operations are under control.

ensures that participants are financially committed and motivated to work in the best interests of a project.

Over time, users can accumulate Reputation Power, a decentralized business credentials system that’s based on collaboration history recorded on the blockchain. This means every wallet address can be evaluated so users can ascertain whether they are trustworthy or not.

Layer 2 solution

more functions for DAO management — and already, community members have developed task management, knowledge management and event management. This is coupled with a simple interface that Web2 users will find easy to understand, and straightforward APIs that pave the way for integration with other DApps.

integration with Web2, DeFi and NFT communities.

Integrating with DeFi protocols will enable community members to operate and manage their funds collectively and avoid being exploited by whales.

a range of additional microservice tools

decentralized companies will be able to launch their very own tokens.

What is DAO?

Imagine a vending machine that not only takes money from you and gives you a snack in return but also uses that money to automatically re-order the goods. This machine also orders cleaning services and pays its rent all by itself. Moreover, as you put money into that machine, you and its other users have a say in what snacks it will order and how often should it be cleaned. It has no managers, all of those processes were pre-written into code.

MetisDAO

https://metisdao.org/
https://metisdao.org/metis_way
https://metisdao.org/files/metis_whitepaper.pdf

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Carlos Domingo, CEO of Securitize Inc., joins Santiago Velez, co-founder & R&D division lead for Block Digital, to discuss security tokens, what can be tokenized, and the future of the crypto space.

Tokenized Securities: The Next Generation of Asset Ownership

For the first time in history we have securities and cash sitting on the same ledger.

The fact that this became digitized then started a new avenue for new market opportunities.

The problem is how do you get this done in a legal way.

You and I could trade a security and we don’t need to do anything. We don’t need any approval, right? You and I agree the price, and we somehow need to notify the transfer agent or the issuer that we’re swapping this security. And we can just do it.

But if you suddenly take all your securities and put it there and start trading against a lot of people, maybe you’re becoming a broker dealer or a marketplace for securities.

And therefore you are subject to certain regulations, et cetera.

Figuring out what other things you can do with
security tokens and what type of regulation they fall under.

Because sometimes the problem is that these things are new, so the existing regulations are not designed for something new because we don’t know exactly where it fits. That part is the one that we still need to work more on.

Taking the hard road tends to be the more fruitful avenue at times.

Transfer Agent -> Broker Dealer -> Alternative Trading System

Securitized ID
Social Finds
Chain Analysis
Rank AML on a daily basis
Automation of Compliance

What can be digitized?

Having everything digitized, composable, and on a common framework allows you to create new financial products like a STO ETF for example. And the smart contract technology allows you to programmatically rebalance or whatever your investment objectives are. Program that in.

And so it’s essentially almost like an automated ETF that doesn’t require as much active management. It may just require a particular goals for your risk and return profiles. And you can program that all in right at the beginning. So I think that’s a very interesting, novel idea. So that’s one concept.

Your spectrum of choices just explodes in terms of what you can participate in.

The post Tokenized Securities by Realvision and Securitize appeared first on Blockchain Insider.

What next after $1T? $2T, of course!

A recap of the personal’s viewpoint journey, thanks to Facebook as timestamp log:

Who has got similar view? Bakkt.

“Bakkt and VPC believe there is enormous potential in building a marketplace for the nearly $2T of digital assets that exist today and the many others that will be created because a marketplace such as this exists for both brands and consumers.” ~ Bakkt CEO Gavin Michael told Cointelegraph.

Who is Bakkt?

NYSE owner Intercontinental Exchange (ICE), tech giant Microsoft, and Starbucks have partnered to launch a new company, dubbed Bakkt, that will look to develop an open, regulated, and global ecosystem for digital assets.

As a matter of log,

Delphi Survey in 2018 stated the possibility of people borrowing money via cryptocurrencies.

Screenshot of CoinMarketCap.com back in 2018 when the total market cap was still around ~$211B and BTC priced at ~$6k

Will bitcoin become the digital gold 2.0? Or is it just a matter of time?

How to reach $2T market cap?

(1) less regulatory uncertainty,
(2) a developed market infrastructure, and
(3) less risk surrounding security.

“Only by widening the playing field and facilitating more participation will crypto reach and maintain a market cap of $2 trillion and beyond.”

https://cointelegraph.com/news/more-institutions-will-warm-up-to-crypto-once-market-cap-hits-2t-etoro

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• IBM targets sustainable fashion with latest blockchain partnership
• Bitcoin Movement launches collection of blockchain-backed streetwear designed by Zuby

Reading Notes

Supply chain logistics have long been touted as one of the best use cases for blockchain technology. Improved traceability, especially in the provision of food and medicine, is one of the biggest value drivers of blockchain integration.

It is estimated that 20% of global grocers will use blockchain technology for food safety and traceability by 2025.

IBM targets sustainable fashion with latest blockchain partnership

“The network is designed to create transparency about the origin of garments, from the fiber used to the completion of the final product, and to provide consumers with the knowledge that their clothes are sustainably produced.”

https://newsroom.ibm.com/2020-11-16-KAYA-KATO-and-IBM-Pioneer-Blockchain-Network-to-Track-Sustainable-Clothing

Bitcoin Movement launches collection of blockchain-backed streetwear designed by Zuby

• The blockchain linked NFC chips installed in the garments help solve the problem of counterfeiting and eliminate the chance of duplicates being created and circulating on the black market.
• The chips are bound with unique transaction IDs that can only be retrieved by using The Bitcoin Movement app to read the data stored on the VeChainThor Blockchain.
• This technology has been compared to QR codes, which can be replicated and reprinted rendering them not fit as anti-counterfeiting mechanisms.
• The NFC chips cannot be replicated nor can the same blockchain data be uploaded to new chips.

https://btcmvmnt.medium.com/take-the-power-back-cd1978906a3d

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• JPM Coin debut marks start of blockchain’s value-driven adoption cycle
• SEC-approved crypto IPO issuer INX acquires STO platform OpenFinance
• Australia’s first crypto-friendly IPO will accept Tether

Reading Notes

JPM Coin debut marks start of blockchain’s value-driven adoption cycle

JPMorgan is one of the largest players operating within the global payments landscape, with the firm reportedly facilitating transfers in excess of $6 trillion across more than 100 countries on a daily basis.

• The token is designed to facilitate JPMorgan Chase’s various cross-border monetary transactions.
• A solution that could potentially save the global finance industry hundreds of millions of dollars in peripheral costs such as processing charges, high tax fees and more.

What does matter a great deal is that for business to business payments, if you can make payments a part of a fully digital business contract, you can hugely reduce the cost of running a cross-border deal for enterprises, and that is quite revolutionary.

Business value:

• settlement mechanisms for trade finance
• supply chain traceability
• KYC and regulatory compliance

Onyx, JP Morgan’s new business outfit, reportedly has more than 100 staff members and has been established with the goal of commercializing JP Morgan’s various envisioned blockchain and crypto projects, moving existing ideas from their research and development phase to something more tangible.

On Oct. 28, the bank announced that it was going to rebrand its blockchain-based Interbank Information Network, or IIN, to “Liink” as well as introduce two new applications — Confirm and Format — that have been developed for specific purposes of account validation and fraud elimination for its clients. Liink will be a part of the Onyx ecosystem and will enable participants (over 400 financial institutions) to collaborate with one another in a seamless fashion.

Using a DLT as the settlement layer rather than relying upon human audits and regulatory trust.

SEC-approved crypto IPO issuer INX acquires STO platform OpenFinance

• trust infrastructure
• single point of truth
• IOTA’s zero-fee transactions on IOTA Tangle
• functional rules-based order secured through deterministic computation

INX is set to acquire OpenFinance’s broker-dealer and alternative trading system business including its systems, digital asset listings, client base and licenses.

The latest news comes amid the INX’s ongoing initial public offering, or IPO, registered with the United States Securities and Exchange Commission.

Launched in August 2020, the $117 million IPO claims to be the first-ever security token IPO that is registered with the SEC.

Starting from Sept. 14, INX’s IPO has been accepting major cryptocurrencies like Bitcoin (BTC) and Ether (ETH).

https://cointelegraph.com/news/sec-approved-crypto-ipo-issuer-inx-acquires-sto-platform-openfinance

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It’s not a matter of “IF” Crypto will take on the financial world, but rather just a question of “WHEN”.

You can either get left behind or prepare to become mega wealthy, because getting in on the boom of a lifetime is how generational wealth is made.

Right now, the bond market is about 3 times bigger than the stock market. Government bonds make up a large proportion of the secondary market, with a total value of $22.116 trillion across the world as of September 2018.

And cryptocurrencies are going to replace it.

Without getting too deep, cryptocurrencies allow contracts to be written that do not require middlemen.

In September 2018, Austria became the latest government to successfully trial blockchain platforms to issue government bonds. The trial follows in the footsteps of the Australian and Thai governments, both of whom developed blockchain bond issuing platforms earlier this year.

J.P. Morgan has also tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms, of which the Canadian bank issued a $150m one-year floating-rate Yankee certificate of deposit, with a parallel simulation of the issuance, using blockchain technology.

Image Source: Pixabay

https://cointelegraph.com/news/government-bonds-how-blockchain-can-beat-the-red-tape

https://www.jpmorgan.com/country/MY/en/detail/1320566740924

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Attached below the presentation file used in the sharing session.

The post First Public Sharing Session at Klang appeared first on Blockchain Insider.

All in all, Blockchain will disrupt industries that require a check and balance procedure. It could also do away anything that requires the middlemen.

To illustrate what kind of disruptive innovation we are talking about when it comes to Blockchain Technology:

The blockchain will do to banking what the internet did to media.

And perhaps the most exciting thing blockchain can do at the moment would be ICO, something similar to conventional IPO yet bypassed all the procedure of conventional financial and banking system.

The future is uncertain but promising.

Though it’s kinda A-List content, it’s worth a view if you willing to spend some 9 minutes+ of your time to know further about Blockchain.

19 Industries The Blockchain Will Disrupt

The blockchain is a distributed ledger technology that underlies cryptocurrencies like Bitcoin. It provides a way to record and transfer data that is transparent, safe, auditable, and resistant to outages. The blockchain has the ability to make the organizations that use it transparent, democratic, decentralized, efficient, and secure. It’s a technology that holds a lot of promise for the future, and it is already disrupting many industries.

1. Banking & Payments
2. Cyber Security
3. Supply Chain Management
4. Forecasting
5. Networking & IoT
6. Insurance
7. Private Transport & Ride Sharing
8. Online Data Storage
9. Charity
10. Voting
11. Government
12. Public Benefits
13. Healthcare
14. Energy Management
15. Online Music
16. Retail
17. Real Estates
18. Crowdfunding
19. YOUR Industry

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