“The US Acting Comptroller of the Currency, Brian Brooks, struck a chord with attendees at this year’s DC FinTech week, suggesting that banks were relics of a “pre-technology era” and will face substantial disruption by blockchain.
Banks’ “legacy role” as an aggregator of dollars could be disintermediated, said Brooks, who added that centralization was no longer required for efficiency or to provide services such as deposits or loans.
Brooks suggested that the future would see banks ‘directly connected to blockchains, where they will see that as a payment network and they will become nodes on that network.’
According to the regulator, banks will remain in vogue for fiduciary services, advice, and custody of physical assets.”
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“Yield Protocol v1 enables fixed-rate borrowing and lending of Dai, using a new core DeFi primitive, fyDai (short for “fixed yield Dai,” with “fy” pronounced as in “fire”).
Users can use Yield to borrow Dai at fixed rates with ETH collateral, or lend Dai at fixed rates, in quarterly maturities through December 2021.”
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“Despite 98% of the votes cast being in favor of a proposed change, the total number needed for a successful vote fell short of the 40 million required by about 400,000.
The vote had been intended, somewhat ironically, to decide whether or not to reduce the token threshold required to make and pass proposals on the protocol.”
“Unstoppable Domains and Chainlink have announced a new feature, which allows users of Unstoppable Domain’s .crypto domains to verify their address via Twitter.
Before users send funds, they will know whether the address has been verified, providing an extra layer of comfort.
With traditional payments like Paypal and Venmo, you have some identifying information about who you’re sending to. Crypto is missing this. That’s why we built the Twitter verification feature.”
“Progress was being made on “key provisions” and legislative language is being drafted.
Senate Majority Leader Mitch McConnell (R-Ky.) said the Senate will take up the stimulus package if Pelosi and Treasury Secretary Steven Mnuchin reach an agreement and the resulting measure passes the House.”
“The Secret Network / Ethereum Bridge is now live on testnet, bringing privacy to Ethereum assets at ¼ the cost of Tornado Cash!
We’ve built a simple way to create synthetic (wrapped) ETH and ERC-20 tokens on Secret Network that can be used with full privacy, at lower cost. Secret Tokens combine the programmability of ERC-20s with the privacy of coins like Zcash or Monero.”
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“Kik and the U.S. Securities and Exchange Commission (SEC) have proposed settling their dispute over a 2017 token sale with a $5 million fine.
Kik’s proposed settlement has a critical difference from Telegram’s ill-fated TON outcome: it would not destroy the defendant’s tokenized dreams. Mandating that Kik notify the SEC of any kin sales within the next three years is the settlement’s only effect.
The settlement would tie up a legal bout that only 20 days ago appeared to be heading toward a resounding loss for Kik.”
“Saylor said bitcoin volume is being reported at a wildly inflated $24.76 billion.
I know for a fact you can’t buy more than $35 million a day without people knowing, so there’s no freaking way there’s $24 billion trading.
Estimates of what volume is “real” are “still all over the map.” For many cryptocurrency market participants, ‘data is a marketing tool instead of a revenue source, and some exchanges are exaggerating volumes in order to enhance their perceived liquidity.'”