October 3rd

IKEA Iceland has taken part in a commercial transaction on ethereum, using smart contracts and licensed e-money to facilitate the settlement of an order from local retailer Nordic Store.

The transaction was carried out on a platform provided by supply chain management firm Tradeshift and used “programmable digital cash” from ConsenSys-backed Monerium.

Monerium and Tradeshift suggested the “world’s first” transaction shows that ‘government-regulated, programmable e-money is ready for mainstream markets.'”

“Two U.S. lawmakers want the Federal Reserve to consider creating a digital dollar.

With the potential for digital currencies to further take on the characteristics and utility of paper money, it may become increasingly imperative that the Federal Reserve take up the project of developing a U.S. dollar digital currency.

We are concerned that the primacy of the U.S. Dollar could be in long-term jeopardy from wide adoption of digital fiat currencies. The Facebook/Libra proposal, if implemented, could remove important aspects of financial governance outside of U.S. jurisdiction.

The Federal Reserve, as the central bank of the United States, has the ability and the natural role to develop a national digital currency.”

See Also: Central Bank Digital Currency Is ‘Inevitable,’ Philly Fed Boss Says

“The update from the Libra Foundation published on Oct. 2 highlights various points of interest for both developers and those who operate the protocol’s nodes. 

Launching the Testnet has allowed the team to quickly improve Libra Core by making it easy to troubleshoot, diagnose, and resolve software edge cases.

Libra developers have also created a staging environment dubbed “Pre-Mainnet”. It is currently only accessible to partner nodes to allow them to connect to each other. Several partners ‘have already deployed their nodes and have them communicating.‘”

See Also: September Libra Developer Update

“Nine parts bitcoin and one part ether by percentage, the ETP captures some 75 percent of the total cryptocurrency market cap in one listed product. Amun CEO Hany Rashwan said the ETP serves as an important financial hedge.

Unlike exchange-traded notes (ETNs), ETPs are legally obligated to be backed one-to-one by reserves. The ETP is fully collateralized with bitcoin and ether custodied in Switzerland by Bitcoin Suisse.”

“Two Venezuelan companies have partnered to release a cryptocurrency debit card and point-of-sale (PoS) system. Glufco refers to its product as a “cryptocurrency transfer device”.

The system will provide support for Bitcoin (BTC), Ether (ETH), Dash (DASH) and Petro, the Venezuelan government’s state-backed digital currency. Neither offering, it appears, will feature support for fiat currency, including the country’s troubled Sovereign Bolivar (VES).”

How To: Lending and Borrowing on dYdX

“Vanguard, is going after a piece of the global currency market that handles $6 trillion each day and is dominated by firms such as JPMorgan Chase and Deutsche Bank AG. By entering the global currency market, Vanguard could unsettle some of the major investment banks that have ruled the sector for decades. 

The newly tested blockchain platform has been operational for over two months while handling several trades already.”

“The new Power Ledger’s trial will track surplus solar energy levels and electricity trading, integrating blockchain-enabled P2P platform with household smart meter systems in the Kanto region. With Tokyo located in Kanto, the region is considered to be the main engine of Japan’s economy.

The platform will reportedly allow trial participants to set prices and track energy trading in real time to demonstrate settlement of surplus solar transactions.”

“The school will be free of charge and intends to ‘encourage more tech entrepreneurs to start crypto projects and help crypto-curious builders navigate the idea maze.’

We are going to run a startup school for crypto-specific startups and what we’ve learned over the last seven years as best practices in this category.