“On July 11, officials revealed that the G20 will be laying the groundwork to accept digital payments. The changes are expected to begin in October, presumably at the G20 Finance Ministerial and Deputies Meetings in Washington DC and before the next summit in Riyadh in November.
G20 officials enacted the policy change in response to China’s progress on creating a digital yuan, and Facebook’s anticipated release of Libra.”
“Project Ubin, a blockchain-based multi-currency payments network created by the Monetary Authority of Singapore (MAS), JP Morgan, and state-investor Temasek, is ready for a commercial roll-out following the successful implementation of its prototype.
According to the press release, possible commercial use-cases include cross-border payments using multiple currencies, settlement of foreign currency securities, and foreign currency exchange.
An international settlement network, modeled after this payments network prototype, could enable faster and cheaper transactions than conventional cross-border payments channels.”
“The DTCC sits at the heart of US capital markets [and] processes nearly $2 quadrillion worth of transactions per year. The corporation’s goal is to strengthen post-trade processes, provide efficient infrastructure, and support economies of scale, all while maintaining security.
The platform, which uses Ethereum as its core technology, embraces a new approach to the representation of value in capital markets and signals an era of increased efficiency for financial services.
The Whitney Platform is a blockchain-based prototype that mints tokens and records asset transfers on the public Ethereum network, while maintaining an independent digital record of security ownership off-chain.”
“According to the SEC’s release, Abra effectively offered “security-based swaps” to retail investors without the proper registration, in addition to ‘failing to transact those swaps on a registered national exchange.’
In soliciting and accepting orders for these contracts, the respondents illegally operated as an unregistered futures commission merchant.”
“Open to all DOT holders, there are four options on the table: no change or redenomination based on increasing supply by 10x, 100x, or 1,000x. If any of the redenomination proposals passes, the DOT price, according to CoinGecko, could well move from its present $152 to $15, $1.52, or $0.15, respectively.
A 10 million supply was originally agreed for the 2017 initial coin offering but Web3 Foundation said in a tweet thread Monday that a billion token supply would now be more ‘logical.’“
“The DeFi ecosystem needs a decentralized mechanism for self-regulation.
Tokens could apply for badges having some desirable qualities such as being ERC 20, being a stablecoin, etc.
Based on these badges, different agents could make decisions to accept the tokens into different places. For example, with what conditions should comply a token to qualify as an acceptable collateral in Compound?”
“ReGenesis would bring stateless client research to the current Ethereum chain (also known as Eth 1.x) by “nuking” certain node’s states and swapping them with a math proof on a rolling basis. The purpose? Make Ethereum’s data set scalable with minimal sacrifices to security.
Akhunov’s proposal works like a video-game checkpoint. Every time the Ethereum blockchain hits a certain block number, the network would auto save. Then it would delete all its progress minus a “proof” or “witness” of all the past transactions.
I call this ‘relaunch’ ReGenesis, and it can be done regularly to ease the burden on the non-mining nodes. It also represents a less dramatic version of Stateless Ethereum.”
“On July 6, the price of LINK surpassed its previous record high at $5.31 and officially entered a price discovery phase, which typically leads to a “fear of missing out” rally among investors.
Throughout 2020, Chainlink has secured several high-profile partnerships with companies within the cryptocurrency sector. On July 8, Chainlink partnered with Nexo, a crypto lender with reportedly 800,000 users, to deploy its oracle solutions.”
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See Also: Compound Tops $1B in Crypto Loans as DeFi Farmers Keep Digging for Yield
“Fidelity International has doubled its equity investment in bitcoin mining company Hut 8, bringing its total stake to over 10%.
Hut 8’s share price spiraled since listing on the Toronto Stock Exchange, falling from $3.35 in April 2018 to a low of $0.50 in March 2020. Hut 8 closed a C$8.3 million funding round (US$6.1 million) on June 23.”
See Also: Inside the Craze for Filecoin Crypto Mining in China
The Disrupt 