November 20

“While the U.S. central bank is looking at whether a fully digital dollar would offer benefits to the U.S., Powell said the Fed is not actively developing one. Further, a digital national currency may not offer advantages to the U.S. that it may do to other nations.

Overall, Powell concluded that the Fed has ‘not identified potential material benefits of [a] general purpose CBDC to the implementation of monetary policy relative to our existing tools.‘”

See Also: In Wargaming Exercise, a Digital Yuan Neuters US Sanctions and North Korea Buys Nukes

“Ten wallets, 11 blockchain explorers, one integrated development environment, one application programming interface and 11 clients have taken part in the network’s development. 

The Libra Association continues to develop the stablecoin’s network and has plans to introduce a range of new features in the upcoming months. The organization also plans to deploy 100 nodes on the mainnet, which will represent a mix of on-premises and cloud-hosted infrastructure.”

See Also: Development Update
See Also: Too Early to Tell if Libra Is a Security, CFTC Chairman Says

“Libor is a benchmark interest rate controlled by global banks including Barclays, Deutsche Bank, Royal Bank of Scotland and UBS that determines the cost for banks to lend money to each other. Ameribor is an alternative backed by the American Financial Exchange (AFX) and Cboe Futures and will use a permissioned version of ethereum and two tokens to do the same thing.

Between 2012 and 2015 billions of dollars in fines and settlements were levied against the Libor banks who manipulated the rate to their benefit. Now, in addition to AFX’s work with Ameribor, Giancarlo says a number of specialized alternatives are rushing to meet the demand for trust-worthy, transparent alternatives.”

See Also: Introducing Gorilla Funds
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“The proposal comes as a response to demand from international institutional investors for regulated products to be able to hedge their exposure to payment tokens such as bitcoin (BTC) and ether (ETH).

Payment tokens such as bitcoin and ether are currently not categorized as an underlying assets for a derivative product under the oversight of the SFA. However, MAS said it has received requests to put such assets under its regulatory remit in order for them to be listed on approved venues.”

Great Watch!

“The Ethereum network will be undergoing a scheduled upgrade at block number 9,069,000, which is predicted to occur on Saturday, December 7, 2019.

Please upgrade your node before Sunday, December 1, 2019 to account for the variable block times.”

See Also: Istanbul to Berlin: Ethereum Milestones on the Road to Serenity

“At the center of contention is ethereum’s consensus mechanism, proof-of-work (PoW), which only offers a statistical guarantee of transaction finality. Dossa said a different mechanism is needed for the institutions Polymath aims to serve. [Finality will be included in the launch of Eth2.]

How ethereum settles transactions through mining also came into consideration for Polymath. Since miners, who process and sign-off on transactions for a fee, can operate anywhere in the world, institutions could face government scrutiny if fees are traced back to a sanctioned country.

The mining process is permissionless. If you’re paying transactions on ethereum, you don’t really know where that transaction is going to end up. For a large institution that could be an issue.”

“The Gendarmerie’s cybercrime division (C3N) used the system to buy cryptocurrency from Europol-allocated funds and cover its operational costs with those assets.

Tezos claims that the system employs ‘the first smart contract ever developed by a public authority.’ Governments are showing an increasing interest in blockchain technology.

“In order, the top 10 crypto exchanges in CryptoCompare’s second Exchange Benchmark are: Gemini, Paxos’ itBit, Coinbase, Kraken, Bitstamp, Liquid, OKEx, Poloniex, bitFlyer and Bitfinex.

Our new Benchmark includes a category for recent hacks for which we penalize exchanges. As Binance was recently hacked, it is marked down in the security category.

“ShapeShift released the token, akin to Binance’s BNB, on Wednesday, enabling commission-free trading with zero fees between cryptocurrencies. FOX furthers ShapeShift’s permissionless ideology by attracting users to a self-custodial exchange.

While total trade volume decreased on the platform since the implementation of KYC, liquidity has increased over the same period by 10x on the exchange’s main pair, BTC/ETH.”