Goldilocks’ Comments and Global Economic News Late Friday Evening 1-19-24

0
29

Goldilocks’ Comments and Global Economic News Late Friday Evening 1-19-24

Good Evening ,

Washington, D.C. — “The Commodity Futures Trading Commission today announced it has issued an Order of Designation to IMX Health, LLC, granting it designation as a contract market (DCM). IMX Health is a limited liability company registered in Delaware and headquartered in Chicago, Illinois.”

Intelligent Medicine Exchange IMX has been awarded a Securities futures contract. This will give individual and institutional market investors the ability to invest in various sectors of the healthcare ecosystem.  

This means that an investor will be capable of investing in various drugs that are used in a patient’s care along with new Quantum Technologies for the use of healing care.

Creating a financial exchange for the healthcare economy enables technological advances to move forward as tokenized assets in the markets.

© Goldilocks

https://www.cftc.gov/PressRoom/PressReleases/8849-24
https://www.imxhealth.com/

~~~~~~~~~~

Conservatives pitch last-minute border amendment on bill to avert shutdown | ABC News
~~~~~~~~~~

What banks are switching to digital currency?

The pilot will test how banks using digital dollar tokens in a common database can speed up payments. Participating banks include BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, U.S. Bank and Wells Fargo.Dec 12, 2022  Baker Tilly Link

~~~~~~~~~~

Will banks start using cryptocurrency?

In early January, the OCC announced that national banks and federal savings associations can now use public blockchains and stablecoins to perform payment activities. This opens the door for banks to have the ability to process payments much quicker and without the need of a third-party agency.

How Cryptocurrencies May Impact the Banking Industry

~~~~~~~~~~

Is Bank of America changing to digital currency?

Central bank digital currencies (CBDCs) are coming, but a digital dollar is unlikely in the near term, Bank of America (BAC) said in a report on Monday. Nov 15, 2023


U.S. CBDC Is Unlikely in the Near Term: Bank of America – CoinDesk 

~~~~~~~~~~

How many banks are using blockchain?

Thus, in a bid to adopt blockchain technology in India for providing various financial services, 15 banks, including 11 private sector, and four PSBs have formed Indian Banks’ Blockchain Infrastructure Company Private Limited (IBBIC). May 25, 2023  Blockchain technology and Indian Banking Industry. – LinkedIn 

~~~~~~~~~~

How many banks own cryptocurrency?

From 2021 to the end of 2022, at least 23 banks are known to have invested in the crypto world. These included big names like Morgan Stanley, BNY Mellon, Citigroup, and United Overseas Bank. Apr 14, 2023
.
How Many Banks are Using Cryptocurrency in 2023?

~~~~~~~~~~

Is Bank of America using XRP?

This partnership goes beyond 2020, as some of BofA’s senior executives have been instrumental in setting up RippleNet’s compliance standards for international payments. The bank plays a central role in ensuring Ripple XRP’s legal and operational consistency. Ripple (XRP): Everything you Need to Know – Atato

~~~~~~~~~~

Will cash become obsolete?

As people move toward more electronic or digital forms of payment, it might seem like paper money is on its way toward obsolescence. But experts say that cash will always be around.  Apr 21, 2023

What would happen if paper money became obsolete? – Marketplace.org

~~~~~~~~~~

Why are countries ditching the US dollar?

The US dollar has been the world’s reserve currency for decades, but its dominance is fading. Sanctions against Russia have spurred other countries into considering backup currencies for trade. US monetary policies, the strong USD, and structural shifts in the global oil trade also contribute. Dec 27, 2023

3 reasons countries around the world want to break up with the dollar ()
~~~~~~~~~~

Is digital currency here to stay?

If you’re interested in a career in business, fintech, accounting or a similar field, you’ll need a solid understanding of what digital currencies are and the impact they continue to have on the global market. Not only is digital cash likely here to stay—but you will likely be working with it in your future career. Oct 31, 2023 Understanding Digital Currency and Its Far-Reaching Impacts | Keiser ()

~~~~~~~~~~

In late 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would subject nonbank fintech companies to the CFPB’s authority. The CFPB articulated that it intends the rule to “level the playing field” between banks and fintech companies by regulating digital payments, such as peer-to-peer mobile payment apps. This would add an extra layer of oversight beyond the federal and state money transmitter laws traditionally used to regulate these types of services. JD Supra Link

👆  Goldilocks pointed to this article

~~~~~~~~~~

It’s Time to Explore Institutional DeFi

Technology continually evolves and modernizes financial services by creating new ways of executing and recording transactions. Each step in this evolution brings new business opportunities. For example, dematerialization replaced paper certificates with digital ones in the form of electronic book entries, fostering the rise of electronic payments and trading. That, in turn, made securitization possible, which added value to previously illiquid assets such as mortgages.

Despite recent waves of digitization, trillions of dollars worth of real-world assets are recorded in a multiplicity of ledgers that remain separate from messaging networks. This means that financial intermediaries have to record transactions on siloed ledgers and then message each other to reconcile their books and finalize the settlement. The need for coordination across ledgers and networks between entities creates inefficiencies that increase costs and risks, lengthen settlement times, and in general add overhead to financial services.   Oliver Wyman Forum

~~~~~~~~~~

Managing Sovereign Wealth Funds of other countries such as the Middle East in the US is met with great challenges, but it has profitable results for both countries in doing so.

This practice ensures secured foreign exchange practices that are expected to be a prominent venue going forward on Forex. In contrast with banks, this practice is the holding of investments in government foreign reserves inside the financial system of another country.

SWFs typically invest in a wide range of asset classes:

* equities (i.e. foreign currency)
* fixed income
* real estate
* alternative investments like private equity and infrastructure.

The purpose of this practice is to increase diversification and reduce risk on cross-border transactions between countries.

As you can see from many of the articles in this room, blockchain technology allows us to create opportunities never seen before in history. The ability to move across the borders to exchange monies is becoming something of an enigma.

At the touch of a button, things are progressing towards instant payment systems through the new digital economy allowing faster and efficient forms of trade.

Many of these blockchain technologies have been operational for some time, but the interfacing of Global economies on a Quantum Financial System will transform the way we live that most of us have never ever attempted to imagine.   DLA Piper


© Goldilocks

~~~~~~~~~~

Chapter 16 Sovereign Wealth Funds in the New Normal in: Economics of Sovereign Wealth Funds | E-Library

~~~~~~~~~~

Ukraine ranks third in the ranking of bitcoin-holding countries – data from Bitcointreasuries.


The top 3 also include:

– USA – 215,000 BTC;
– China – 190,000 BTC;
– Ukraine – 46,351 BTC.

~~~~~~~~~~

OpenAI on Thursday announced its first partnership with a higher education institution.

Starting in February, Arizona State University will have full access to ChatGPT Enterprise and plans to use it for coursework, tutoring, research and more.

The partnership has been in the works for at least six months.

ASU plans to build a personalized AI tutor for students, allow students to create AI avatars for study help and broaden the university’s prompt engineering course.   CNBC Link

~~~~~~~~~~

Protocol 20 Mainnet Vote Less Than 2 Weeks Away

January 30, the date of the Protocol 20 Mainnet vote, is fast approaching. Protocol 20 will mark the most transformative upgrade to the Stellar network to date. And to preserve the network’s performance, security, and stability during this time, the ecosystem has agreed to a phased rollout for Soroban transactions.
 
Following a positive validator vote, Phase 0 begins, which is designed to allow network operators to observe the network after the upgrade, and not intended for end users to interact with applications. During Phase 0, developers are encouraged to continue utilizing Testnet.
 
In Phase 1, builders gain the ability to deploy contracts on Mainnet for testing. Like Phase 0, this environment is not meant for application users. As Phase 1 progresses, smart contract usability will expand based on network health and user feedback.

So, while exciting times are ahead, we suggest managing expectations throughout the community – and if you’re building on Stellar/Soroban – your user base. If you haven’t already, please upgrade all of your relevant software in preparation for Protocol 20.  Stellar Link

~~~~~~~~~~

Mortgage broker Loan Market Vantage on why brokers are pivoting to business  lending  |  Financial Review 

~~~~~~~~~~

Inside Innovation Live 09 – Connecting blockchains: Overcoming fragmentation in tokenised assets |  YouTube


👆  Goldilocks pointed to this article

~~~~~~~~~~

Mortgage Brokers Dive into Commercial Lending | Financial Review

~~~~~~~~~~

Follow Goldilocks’ Roadmap

Follow Goldilocks’ Timeline

Goldilocks’ Telegram Room

Q & A Telegram Room

Goldilocks Forum

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter