Goldilocks’ Comments and Global Economic News Tuesday Evening 10-24-23
Good evening,
Foreign Currency Deposits Rise 433% In Five Years – RBZ
https://www.pindula.co.zw/2023/10/22/foreign-currency-deposits-rise-433-in-five-years-rbz/
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Open Board Meeting, October 24, 2023
https://www.youtube.com/live/Ss9z66NaXd0?feature=shared
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US PMIs Print Goldilocks Surprise In October: Growth Expansion & Slowing Inflation
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“UDPN aims to provide a decentralized identity infrastructure to enable compliance and cross-chain interoperability by exchanging messages rather than currencies. The currency transactions happen on their native blockchains or infrastructures. That means, via UDPN users can swap a USDC stablecoin on one network for a Euro stablecoin on another or a bank deposit token.”
Yesterday, Standard Chartered’s SC Ventures and Deutsche Bank completed the first proof of concept (PoC) for the Universal Digital Payments Network (UDPN).
The purpose of this platform is to connect payments across CBDC blockchain networks using messages similar to Swift. Banks and other financial institutions exchange messages through a permissioned blockchain.
This enforces a trust level between Banks. Because this system only allows regulated tokens through its Network, it enforces compliance using decentralized entities.
You keep hearing about three entities over and over again: Standard Charter Bank, Fintech, and the Deutsche Bank. We have been talking about these three financial institutions as being important to the next economy for 2 years.
And now, we are seeing these three entities being utilized with the Deutsche Bank that touches every Bank around the world.
© Goldilocks
Cryptopolitan Link
LedgerInsights Link
Finance Yahoo Link
FinTech Link
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Social Security Update: Trust Fund, Income, Outgo, and Deficit in Fiscal 2023
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The Bank of International Settlements last week produced an interim report aimed at developing a governance structure for an interlinked faster payments system.
PaymentsDive Link
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In the last week, several major financial regulators, both national and international, simultaneously produced new guidelines for decentralized assets.
The European Banking Authority and the European Securities and Markets Authority proposed guidelines for assessing the suitability of management members in crypto firms, offering standardized criteria (https://cointelegraph.com/news/crypto-eba-esma-issue-crypto-entity-suitability-guidelines) for evaluating their knowledge, expertise, integrity and ability to dedicate adequate time to fulfill their responsibilities.
CoinTelegraph Link
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Hong Kong Moves Ahead With Crypto Regulations; Updating Policies
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Money Market Funds are now being tokenized and used as collateralized assets for investments.
The Onyx Blockchain is an Ethereum-based Network. As we were told almost 2 years ago, JP Morgan is the lead Bank carrying us into the Web 3-based decentralized banking system.
As you can see here, BlackRock has engaged in this service to collateralize their assets through Barclays Plc.
© Goldilocks
MarketScreener LInk
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Ripple Forges New Partnership with Uphold to Enhance Underlying Crypto Liquidity Infrastructure
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Open Board Meeting on final rule on the Community Reinvestment Act. October 24, 2023
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Digital Banking Announcement:
UPHOLD RIPPLE PARTNER FOR CROSS-BORDER LIQUIDITY
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Fed to Be Forced Into Massive Liquidity Dump, ‘Tremendous Upside’ for Gold & Bitcoin – James Lavish
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