6 May

“The Linux Foundation has launched the ToIP Foundation, a new data trust coalition [which] aims to provide a trusted exchange of data over the internet and establish a global standard to ensure digital trust.

The ToIP Foundation plans to use digital identity models that use interoperable digital wallets and credentials and the new W3C Verifiable Credentials standard.

R3 is supporting the industry initiative and ensuring Corda works with the standards that are coming out of the ToIP foundation.”

“The European Central Bank says global stablecoins require clear regulatory structure prior to approval.

In order to reap the potential benefits of global stablecoins, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate.”

Increasing policy influence: Insightful voices like Chamath Palihapitiya and Balaji Srinivasan are finally being noticed in policy circles as providing a valuable perspective to challenge conventional wisdom and that simple shift will fundamentally change the discourse around crypto going forward.

Banks will finally hold bitcoin: When banks go looking for scarce assets for the sake of long term stability of their balance sheets, most will choose gold but a significant number will choose digital gold – i.e. bitcoin.

OECD central banks will launch digital currencies: Retail CBDCs always made sense and now the COVID crisis and the need to get people money quickly and directly has proved the case.

Market infrastructure will integrate magic money: By bringing bitcoin and crypto assets firmly and positively into the policy and regulatory discourse, COVID-19 will sharply accelerate this drip feed of inconsistent regulation towards harmonized and integrated fiat and crypto markets.”

“The new Equigy platform is backed by TenneT, a grid provider covering Netherlands and part of Germany; Terna covering Italy; and Swissgrid covering Switzerland. Blockchain tech is employed as an accounting system so that consumers charging their electric vehicles (EV) or using home batteries can interact with the three transmission system operators (TSOs).

Hyperledger Fabric operates as a trusted backbone to share charging data between consumers, aggregators and TSOs, which Equigy officials say will help create a unified system across borders. Looking ahead, the next step is to enable EVs to discharge power into the grid.

Should the Equigy pilot project succeed, the heavily integrated area of Netherlands-Germany-Switzerland-Italy is an excellent jump-off point to expand across the continent.”

Omni Layer, built on Bitcoin, has suffered negative growth in Tether transactions for the last 12 consecutive months. Tether supply on Omni Layer has also fallen more than 50% over the same period.

Transaction fees and confirmation times were the primary reasons Tether decided to evolve its stablecoin into a cross-chain asset supported by multiple protocols.

I think it mostly comes down to Ethereum being much better payment rails for something like Tether and other stablecoins.

A faster, cheaper ledger with more granular levels of control is much more useful to [Tether].”

See Also: Research Shows Inverse Correlation Between USDT on Crypto Exchanges and Bitcoin’s Price

“Attorneys for a company called Bitcoin Manipulation Abatement LLC have filed a lawsuit in a U.S. federal district court alleging Ripple misled investors and sold XRP as an unregistered security in violation of federal law.

In order to drive demand for and thereby increase profits from the sale of XRP, Defendants have made a litany of false and misleading statements regarding XRP in violation of California’s securities laws, and false advertising and unfair competition laws.

A class-action lawsuit brought in May 2018 — and currently moving forward — by attorneys for XRP investor Bradley Sostack has similar allegations of deceiving investors and violating securities laws.”

Interesting Connections Between Binance, Huobi, Paxos, and the MMM Ponzi