Goldilocks’ Comments and Global Economic News Wednesday Evening 10-25-23
Good evening,
Bank Announcement: World Bank issues first English Law DNN
The first Digitally Native Note (DNN) has been issued under English Law via Euroclear’s Digital Financial Market Infrastructure (D-FMI). This marks the launch of Euroclear’s digital ledger technology (DLT)-powered Digital Securities Issuance (D-SI) service.
The €100 million DNN was issued by the World Bank — International Bank for Reconstruction and Development (IBRD) to support its sustainable development activities and was listed on the Luxembourg Stock Exchange. Citi Issuer Services served as issuing and paying agent, TD Securities as dealer, and Euroclear Bank as issuer central securities depository. Corda, R3’s DLT platform, underpinned the issuance.
Euroclear’s D-FMI is connected to the firm’s traditional settlement platform for secondary market operations on the DNN, allowing investors to access trading venues and liquidity management facilities. It enables the creation and settlement of DNNs on a T+0 basis, which Citi says is a step towards a fully digital end-to-end transaction lifecycle for bonds.
AssetServicingTimes Link
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Banking Announcements:
Asia Braces for Wave of AI Regulations. The EU AI Act is likely to have far-reaching consequences for Asia, data experts tell Regulation Asia.
https://www.regulationasia.com/feature-asia-braces-for-wave-of-ai-regulations/
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Consumer Financial Protection Board Announcement:
On October 19, 2023, the Consumer Financial Protection Board (“CFPB”) released a proposed rule that, if enacted, would grant consumers greater access rights to the data their financial institutions hold. Under the proposed Personal Financial Data Rights Rule, bank customers nationwide would have privacy rights similar to what is afforded under the dozen state privacy laws that have been enacted in recent years. Comments on the Proposed Rule are due on or before December 29th of this year, while the Proposed Rule would likely go into effect in the fall of 2024.
ConsumerFinanceMonitor Link
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Shipping Port Announcements:
SINGAPORE, Oct 23 (Reuters) – Singapore’s Maritime and Port Authority (MPA) will launch a digital bunkering initiative on Nov. 1, making the city-state the first port in the world to use electronic bunker fuel delivery notes, the MPA said on Monday.
The digital notes will replace physical documents containing information on fuel oil deliveries. Under the initiative, fuel suppliers, ship owners, operators and crew will be encouraged to use mobile and cloud-based applications approved by the MPA to complete and issue bunkering documents.
HellenicShippingNews Link
Reuters Link
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Europe is clearly racing ahead to establish cryptocurrency clarity regulation, a digital ledger transmission system for their tokenized assets, and more.
On November 1st, 2023, we will have our first shipping port to set sail into the digital transaction shipping exchange process for payments in Singapore.
Consumer privacy in the new digital economy has been proposed, and AI is beginning to make waves inside the new Financial System in Asia.
A lot is going on to bring the new Quantum Technologies together through decentralized networks enabling a new Web 3-based economic system.
And, T+0 settlements are currently in the making of being achieved. This enables instant payment systems to transact in just seconds
We have come a long way in a short period of time. Look to see more progress happen even faster as we go along. We are, after all, in a new digital age.
© Goldilocks
AssetServicingTimes Link
RegulationAsia Link
ConsumerFinanceMonitor Link
Reuters Link
HellenicShippingNews Link
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Grayscale Investments® Unveils Grayscale® Crypto Sectors
GlobeNewswire Link
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There are many opportunities that are beginning to make themselves known in this new digital age we are living in.
Digital creative opportunities are offering people opportunities they would not have had apart from this new current movement that is taking place known to many as the Fourth Industrial Revolution.
Jobs are now being created for those willing to work in AI fields and more. It is true that many of our traditional jobs have been taken away because of AI, but new technological forces are coming into play that are opening up opportunities based on a person’s experience more so than educational degrees a person holds.
This is not to say that degrees are no longer valid. It’s just that the new digital economy is leveling the playing field in opportunities going forward for those capable of making the transition into the new digital age.
We are rapidly becoming pioneers inside a new creative lifestyle that will bring forth what is highest in us to forge new paths never seen before.
© Goldilocks
https://www.cato.org/publications/globalization-growing-global-equality
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The BRICS Nations are beginning to gain momentum over the dollar through leveling the playing field with gold inside a new digital economy.
This new Financial System will enable them to create a local currency trading system at a value equal to the dollar going forward.
© Goldilocks
CryptoRank Link
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The IRS crackdown on high-end taxpayers is already raking in millions in back taxes — here’s how much
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Digital yuan used to settle crude oil trade for Chinese oil company: Report
https://www.blockworks.co/news/china-digital-yuan-oil
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How data sharing could change under CFPB’s proposed new rules
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Tokenize This: Keynote Speaker Onyx by J.P. Morgan with Keerthi Moudgal
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Hoping for a bloodbath in stocks
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“IMF Staff Concludes Staff Visit to Zimbabwe”
The IMF has completed their mission on Article 4 with Zimbabwe. They have seen steady growth since the Covid-19 pandemic and encourages them to move forward with “strong economic reforms.”
© Goldilocks
IMF Link
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