“Utility Settlement Coin (USC), the blockchain-based payments system involving commercial and central banks, will be working with ConsenSys-backed startup Adhara. Fnality raised $64.5 million in June 2019 from 14 shareholders including banking giants Barclays, Santander, BNY Mellon, ING and others.
Fnality’s plan is to represent five currencies on its blockchain – USD, euro, JPY, GBP and CAD – allowing wholesale banking transactions to happen instantly, cross-border and 24/7.
It’s quite likely given the regulations and the impact potentially on monetary policy … that something like Fnality will come into existence [before CBDCs]. But they are totally compatible.”
“Back when EOSIO, the software powering the $3.7 billion EOS chain, was just an idea, the crypto community debated whether delegated proof-of-stake, or DPoS, would lead to validation candidates effectively bribing users to support them. Now the community is all-in on what proponents call “voter rebates.”
Permitting payments makes it even easier for the wealthiest to cement their position. There is nothing stopping a validator from acting is if it were more than one entity, allowing whales to hold multiple spots on the governing council of block producers, effectively mounting a Sybil attack.
For the record, Vitalik Buterin called all of this. The ethereum (ETH) creator weighed in on what he saw as the inevitable vote-buying to come on EOS in a March 2018 post titled, “Governance, Part 2: Plutocracy Is Still Bad.””
“Finance ministers and central bankers from the G-20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information.
We urge countries to implement the recently adopted Financial Action Task Force (FATF) standards on virtual assets and related providers.”
“Caitlin Long, a former Wall Street executive who has helped Wyoming enact 13 blockchain-enabling laws, is taking advantage of the progressive Wyoming legislature to establish the first crypto-native bank in the U.S.
She believes that Blockstream is an ‘ideal partner for serving BIG institutional investors that require regulated banks to deliver them services around bitcoin in USD markets.‘ However, she states that Avanti will stay “protocol neutral” and will welcome all cryptocurrencies demanded by clients.
Long expects Avanti to open its doors in early 2021.”
“The purchase was made back in January 2014. At the time, Tyler Winklevoss acquired a ticket for Virgin Galactic’s passenger-carrying spaceship for 312.5 BTC, which was worth $250,000 at the time.
As such, Winklevoss’s initial investment of 312.5 BTC in the ticket is currently valued at over $3 million. Winklevoss has described it as his “Bitcoin Pizza moment.””