30 July

“Acting Comptroller of the Currency Brian Brooks points to existing stablecoin projects as an example for U.S. payments infrastructure.

I’m a believer in decentralization. At the end of the day, I think that stablecoins and other blockchain-based tokenization of dollars are the most resilient model for long-term faster payments. Better than a central bank monopoly on the payments system.”

The ultimate decentralized finance (DeFi) money Lego has arrived: Augur Version 2 released July 28.

The Augur v2 protocol contracts have been successfully deployed to the Ethereum Mainnet.

v2 has all the bells and whistles of today’s DeFi market including the Interplanetary File System (IPFS), 0x Mesh, MakerDAO’s dai and Uniswap’s v2 oracle network.

Augur is serverless [and] has integrated the Interplanetary File Systems (IPFS) for decentralized client storage. Augur will launch without an admin key. Augur is one of the first dapps to integrate 0x Mesh, an on-chain relay order book system that can be used for betting. Augur now has a stable betting medium, USD value mimicker dai. And, to round out the stack, Augur will use Uniswap as a price oracle service.”

See Also: Augur: Launch
See Also: Augur: Decentralized

“Rate to stay in range between 0 and 0.25%.

Purchases of Treasury bonds and mortgage-backed securities will continue ‘at least at the current pace to sustain smooth market functioning.'”

See Also: Coinbase Now Offers 2% Rewards on Dai Stablecoin Accounts

“A proposal from the ruling Liberal Democratic Party in June said China’s global lead in CBDC development could become a national security threat.

Senior Japanese lawmakers have been calling on the government to step up research since February.”

“Managers who are used to a fund custodian and fund administrator are starting to experiment with automating technology.

Chitra said some traders are beginning to move away from over-the-counter (OTC) desks in favor of emerging DeFi platforms like automated market maker (AMM) Curve and lending protocol Compound. Why bother with an OTC middleman?

For traditional funds, operation costs are normally less than $100,000 for the first year and $75,000 for every year after that. On Melon, the setup cost is currently $100 for the first year and around $1,000 to $2,000 per year in gas prices after that.

The track records are not long enough to make that attractive for people yet. I think in a few months people will be like, ‘Wow, this fund has consistently been outperforming ether.”

See Also: DeFi Lender Aave Rolls Out Governance Token on Path to Decentralization
See Also: Aave Ascends Market Rankings as Flash Loans Explode

“The United Arab Emirates is debuting a blockchain-based Know Your Customer, or KYC, platform. The platform has over 120 companies already on-boarded.

The new blockchain platform is designed to unlock digital customer onboarding, instant bank account functions, and verified KYC data sharing between licensing authorities and financial institutions.”

“Today, there’s exponentially more capital, human capital, infrastructure, and high-quality projects than in 2017. Not to mention the very real specter of inflation that all fiat regimes face going forward. Buckle up!”

“The collective capitalization of every DeFi project put together is roughly $4.12 billion — less than that of the fifth-ranked crypto asset by market cap, Bitcoin Cash (BCH).

Analyst Ryan Watkins believes the small size of the DeFi sector means it still has significant room to expand, arguing that it could benefit from a “reallocation” of capital from top 30 projects that are ‘useless first-gen cryptocurrencies, ghost town ‘ETH killers’, and dead projects.

DeFi doesn’t need new money flowing into crypto to continue its rise. All it needs is a reallocation of capital.”

“There’s no way right now for you to determine that a tree hasn’t been sold 100 times over.

The Microsoft-backed IWA sustainability group is stepping in with a tokenization standard that aims to bring transparency to carbon accounting.

The group will create a standardized framework for tokenization, starting with voluntary carbon offsetting, and will then expand its focus to regulated markets in the near future.”

“The crypto-enabled investment app eToro is set to launch its debit card in the United Kingdom as it acquired Marq Millions Ltd, a licensed e-money business holding a principal Visa membership.

The card will reportedly provide an instant “cash-in and cash-out” functionality for the platform’s customers, which should provide an additional avenue for crypto traders on eToro to convert their profits to cash.”