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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Digitization => From paper to Computer

Digitalization => Internet

Digital Transformation => Blockchain

Cost, Time & Integrity

In terms of Digital Asset Exchange:

• Consumer protection,
• Investor promotion and
• Market competition.

Earlier in 2018, there had been an event in Singapore exploring the potential of Blockchain in Government.

Imagine the application of technology, combining Blockchain and Smart City development, not only we will be able to implement a disruptive City Currency, but also application in many of municipal or even governmental services.

News links:

Blockchain will transform government services, and that’s just the beginning by Matthew Van Niekerk:

https://cointelegraph.com/news/blockchain-will-transform-government-services-and-that-s-just-the-beginning

New Australian crypto legislation likely in 2022, Senator Bragg tells NFT Fest

https://cointelegraph.com/news/senator-bragg-tells-nft-fest-new-australian-crypto-legislation-likely-in-2022

The post Blockchain and Government Services appeared first on Blockchain Insider.

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.

Development projects conduct measuring, reporting and verification (MRV) processes measure the outcome and impact of projects.

Distributed ledger technology stores data batches in blocks on the network, and the need for independent verification from the network’s users makes the records transparent, secure, verifiable, and immutable, thus improving data auditability and reducing misreporting/fraud of data.

If we must identify the precise activity of a typical development project where blockchain technology can be leveraged, then it would collect and time-stamp project-level data for monitoring purposes.

The challenge is many resource-crunched development projects, especially in developing countries, still collect field data by hand, which can lead to inaccuracies, mistakes and fraud.

Local institutions in the developing countries that implement such projects often lack the systems to ensure the data they report is verifiable.

Blockchain can

• reduce the data risks of local-level institutions,
• improve the validity of the data they report for impact, and
• instill confidence in foreign private donors/investors to fund such development projects.

What this implies is more financing flow can be committed to the local level.

With blockchain enabling local projects to report verifiable performance as part of their MRV processes, local development institutions can gain a greater supply of capital.

The Amazon in Brazil is an example.

The Rainforest project uses blockchain and the Internet of Things to record and transfer data from electrical meters, robotic appliances and emission monitors on the environmental impact. Remote sensing satellites independently verify the status of patches, upon which blockchain smart contracts directly reward the farmers who preserve their rainforest patches. The outcome data is verifiable, and the exclusion of intermediaries while transferring incentives minimizes administrative costs and the siphoning of funds.

Blockchain-enabled MRV processes help disintermediate the intermediaries in a social or sustainability bond issuance, thus reducing issuance costs and making it possible for small enterprises to access the bond market or aggregate smaller assets into bonds.

Limitations: internet capacity and technology literacy.

Summary:

Blockchain’s revolutionary role in improving the MRV processes around data can mobilize more private capital investments for development projects executed by local-level institutions in developing countries.

Excerpt from article “Blockchain tech makes sustainable development goals more achievable” by Sourajit Aiyer and Jae-Hoon Kwak published on CoinTelegraph.

The post Blockchain and Sustainable Development Goals appeared first on Blockchain Insider.

Empowering the people?

If this roadside seller being rob heads on, the robber go to jail.

But when he being robbed blatantly through inflation, nobody goes to jail.

The (inflation) robber and the poor guy are at two opposite far end of the entire financial food chain.

“The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests.”

Sometimes people don’t want to hear the truth because they don’t want their illusions destroyed.

Where have all the revolutionist gone?

Blockchain will do to banks what the internet did to media

Socmed (Social Media) put the newspaper into everybody’s phone. Now everyone is a reporter.

When technologists put a bank into everybody’s phone, everyone can become a bank. Where would the banks be then?

As we speak, the crypto world is moving rapidly, progressively.

A bunch of people are trying to form the real “public’s” bank, where unbanked and underbanked have no place in it, where poverty (caused by financial slavery) could really be a thing of the past.

Somehow, history will mark this period of time as another important milestone for human progress, equivalent to that of Renaissance, and Industrial Revolution.

From conceptional coins to corporate tokens to eventually the CBDC (in whatever form it may be), what the people innovate, the power to be appropriates.

Will we witness how things conclude in our lifetime? Only time will tell.
Anyhow we are part of it now.

One for all, all for one.

The Name of The Game

The post The Financial Food Chain appeared first on Blockchain Insider.

And as we move, thank God that the universe is providing us the answer piece by piece, one at a time, every right things happen at the right moment.

Reading Notes:

Yes, there are no ready-to-go legal models built for corporates to attract or borrow funds from DeFi protocols on the market today.

But it’s possible to build one with minimal effort, as the benefits of DeFi borrowing easily cover the efforts of building such a system.

DeFi might be able to provide borrowing on perfect terms for corporate institutions, which is something that might make them consider entering the market.

Meanwhile, corporate institutions will be willing to provide several types of stable assets to be used as collateral for their loans.

However, there is a real need for real-world assets to be used as collateral in DeFi protocols to prevent more market falls in the future, fixing the over-collateralization issue along the way.

Opinion from the author:

Until new regimes for the offering of tokenized instruments are built (and there are no bright signs in this direction), I believe real-world assets tokenization in a form of an STO will still be limited to closed offerings with no attention from the global market.

Artem Tolkachev is the founder and CEO of Tokenomica. For over six years, Artem has been a key blockchain and tokenization opinion leader in the CIS region. Since 2011, he has been an intellectual property and information technology lawyer and entrepreneur. In 2016, Artem founded and headed Deloitte CIS Blockchain Lab. As part of that initiative, he led a range of innovative projects involving the implementation of enterprise blockchain solutions, tokenization of real-world assets, tax and legal structuring of security token offerings, development of cryptocurrency, and blockchain legislation.

https://cointelegraph.com/news/why-defi-plus-asset-tokenization-will-take-crypto-to-new-heights

Notes: Less regulatory uncertainty, a developed market infrastructure, and less risk surrounding security will bring the crypto market cap to $2T and above.

The post DeFi and Asset Tokenization appeared first on Blockchain Insider.

As appropriation in motion, the new normal seems to be nothing but the old normal with a new face.

Be your own bank or only the next all-time high benchmarked in fiat?

To the moon. Or better, “to Mars,” in Elon Musk style?

An interesting illustration by CT team, and a very good perspective from another angle by the article’s author. (Link below)

Reading Notes：

Headlines

• Bitcoin has become nothing but the new Che Guevara T-shirt
• Institutional investors won’t take Bitcoin mainstream — You will

Bitcoin has become nothing but the new Che Guevara T-shirt

The wonder of the universe is that
it is always in motion and,
because of this, that
everything changes over time.

So, anything can be
something completely different tomorrow,
just like that
— no guarantees.

“Chancellor on brink of second bailout for banks”: This phrase from The Times is even recorded forever in the genesis block of the Bitcoin blockchain.

In politics, there is a phrase that says that if you did something so good and so wonderful to change the world that even your opponents are applauding you, it means you did everything wrong.

“Fiat sucks,” but the more Bitcoin is worth in U.S. dollars, the better.

After all, what matters is that 1 Bitcoin will always be equivalent to 1 Bitcoin. It matters how much I bought and how much I hope to sell in order to buy more. Understanding Bitcoin or simply buy sell?

Institutional investors won’t take Bitcoin mainstream — You will

Bitcoin was not just another asset proposed as a hedge against inflation in Satoshi’s original Bitcoins white paper.

Bitcoin’s whole idea stemmed from the failed financial institutions and third parties and a possible solution that would be effective in everyday life.

With every institutional investor and the big guns of finance swinging into Bitcoin investment, Bitcoin’s popularization as an asset has become inevitable.

Some of the ideal, real-world applications that could challenge failing fiat currencies and propel Bitcoin into the mainstream:

1. Online purchases
2. Cross-border transactions and travel
3. Bitcoin ATMs – bridging two monetary worlds

• In 2014, using BitPay as its payment processor, Microsoft became one of the first tech companies to accept Bitcoin to purchase digital goods.
• In October 2020, the popular American payments company PayPal announced that it would enable cryptocurrency as a funding source for purchases in 2021.

In all fairness, the goal has never been to phase out local currencies but to create a world where Bitcoin is as relevant as any fiat currency.

There has been an increasing trend every year with an average of one ATM now being added every hour.

The post Where Have All The Revolutionist Gone? appeared first on Blockchain Insider.

Michael Sonnenshein, CEO of Grayscale Investments

2020 was in many ways an inflection point for cryptocurrencies. Michael Sonnenshein, CEO of Grayscale Investments, will be discussing trends the firm is seeing among its investors, who have invested over $10B across its various products, and answering questions including – Who are these investors? What are they investing in? How are they investing?

(KEYNOTE) https://crypto-finance-conference.com/agenda

Grayscale Now Owns More Than 3% (630k+) of Total 21 Million Bitcoins That Will Ever Exist

https://tokenview.com/en/Grayscale

3 key investment themes that underpinned Bitcoin’s (BTC) dramatic breakout in 2020:

(1) macroeconomic uncertainty and quantitative easing;
(2) legendary investors and brand-name companies investing in BTC; and
(3) the continued strengthening of regulatory frameworks around digital assets.

Sonnenshein believes 2021 will see a continuation of these trends as more investors diversify into Bitcoin and other digital assets.

Grayscale CEO outlines 6 themes that will shape crypto market in 2021:

(1) Decreased career risk associated with digital-asset investing
(2) Growing interest among financial advisers
(3) The growth of North American and clean-energy crypto mining
(4) Increased stablecoin integration
(5) Nation-state adoption of digital assets
(6) New regulatory developments

https://cointelegraph.com/news/grayscale-ceo-outlines-6-themes-that-will-shape-crypto-market-in-2021

BlackRock’s new SEC filings list Bitcoin derivatives as possible investment

The multi-trillion-dollar asset manager mentions “Bitcoin” 25 times in its submissions with the SEC.

https://cointelegraph.com/news/blackrock-s-new-sec-filings-list-bitcoin-derivatives-as-possible-investment

The post Of Grayscale and Black Rock appeared first on Blockchain Insider.

The say blockchain is the internet, all over again.

Some truth in it.

Back then, nearly 20+ years ago, when we told people we develop web-based retail management system, we got questions like

“How much is a PC now ah? Which PC brand is the best to buy now?”

Vague among hardware, software, and world wide web / internet, so to speak.

Recently, the questions we got become something like

“Bitcoin (still) can buy or not ah? Any alt coins can recommend ah?”

Vague among blockchain, bitcoin, and money.

From transfer of information to transfer of value.

Few understand. And I still learning.

p/s: Thank God for the blessings to have able to write something about this few years back. (Links below).

Information are free.

It’s what we do with the knowledge we gain that matters.

God bless and all the best.

DYOR – Do Your Own Research

Chapter 1: Blockchain, Bitcoin, Money

To explore Blockchain,
you need to study Bitcoin.
To understand Bitcoin,
you need to know what is money and how it works.

Chapter 2: The Name of The Game

All things blockchain, ledger technology, and cryptocurrencies.

If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.

I don’t know the future.

I didn’t write this to tell you how this is going to end.

I write about how it all begins.

I’m going to show you a world without boundaries. A world where anything is possible.

Where we go from here is a choice I leave to you.

Chapter 3: Smart Money

What we have now is truly borderless, programmable money
backed by immutable computer systems based on pure logic & mathematics.

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