BIS invites comments on ISO 20022 harmonisation proposals

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News Date: March 2, 2023

With most of the world's payment systems adopting the ISO 20022 messaging standard by 2025, the coming years will be crucial for converging on its harmonized use to fully leverage its full potential to make cross-border payments faster, cheaper, and more transparent.
The Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) has worked with financial industry representatives to facilitate a harmonized adoption and use of ISO 20022 for cross-border payments.
The CPMI invites comments on this consultative report.
Source: bis.org

Musk: This partnership can unlock a Star Trek future

In a landmark move, U.S. President Donald Trump signed a “Strategic Economic Partnership” with Saudi Arabia on May 13, 2025, securing $600 billion in investments across AI, technology, energy, and defense. The agreement, signed with Crown Prince Mohammed bin Salman in Riyadh, marks a pivotal step in deepening the 80-year U.S.-Saudi alliance, with ambitions to scale investments to $1 trillion over four years.
The deal includes a $142 billion defense package, the largest in U.S. history, bolstering Saudi military capabilities with advanced U.S. equipment. Additionally, $20 billion from DataVolt will fund AI infrastructure, while $80 billion in joint tech ventures signals a shift toward innovation-driven economies. Saudi Arabia’s Vision 2030, aimed at diversifying from oil, aligns with these investments, particularly in AI and tech.
American business titans, including Tesla’s Elon Musk, OpenAI’s Sam Altman, and BlackRock’s Larry Fink, joined Trump at the Saudi royal court, underscoring the deal’s economic weight. The Saudi-U.S. Investment Forum, where Musk spoke, highlighted transformative technologies like Tesla’s Optimus robots and autonomous robo-taxis.
Musk concluded his speech with optimism: “I’m very excited about the future and very glad to be here. This partnership can unlock a world of prosperity, where humanoid robots and AI drive unprecedented economic growth, potentially creating a universal high-income society. Together, we can explore the stars and understand the universe.” His vision of a “Star Trek future” resonated with Saudi ambitions to lead in innovation.
This partnership not only strengthens U.S.-Saudi ties but also positions both nations as global leaders in the AI and tech revolution, promising economic prosperity and technological advancement.

A Financial System by Nonbank Financials, Fintech, and Innovation

Fintech stands for financial technology.
On February 3, 2017, Donald Trump issued a Presidential Executive Order on Core Principles for Regulating the United States Financial System.
Full order:whitehouse.gov
The report of U.S. Department of the Treasury was prepared on July 2018, set A Financial System That Creates Economic Opportunities Nonbank Financials, Fintech, and Innovation.
Nonbanks are well integrated into the U.S. payments system and play key roles such as facilitating back-end check processing; enabling card issuance, processing, and network activities; and providing customer-facing digital payments software.
This report includes a limited treatment of blockchain and distributed ledger technologies.
Treasury report: treasury.gov

Taiwan's Currency Backed by Gold Reserves: Central Bank

A central bank official announced on Friday that Taiwan holds around 422 tonnes of gold in reserve, managed by the Central Bank of the Republic of China (Taiwan) to support the national currency.
Of this, 410 tonnes are dedicated to backing the issuance of New Taiwan dollars, while a smaller portion is used every four years to mint commemorative coins for the inauguration of the president and vice president.
As of the first quarter of 2024, Taiwan ranks 12th globally in gold reserves.
Despite a significant increase in gold's value since its purchase in the 1970s, the central bank is not buying or selling its reserves.
Taiwan's unrealized gain from these reserves is nearly NT$900 billion due to gold's appreciation.

Ghana Launches Gold Coin to Boost Savings

The Bank of Ghana has introduced a new gold coin to enhance money-market liquidity and promote domestic savings.
Made from locally mined gold, the coin is refined to 99.99% purity.
It is issued and guaranteed by the central bank, with three available sizes: one ounce, half ounce, and quarter ounce, according to Governor Ernest Addison.
The initiative aims to strengthen Ghana's financial market and savings culture.
"The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank's bills for liquidity management. It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana???s domestic gold purchase program." Addison said.

QFS The Quantum Financial System

Quantum computers can make parallel computations and calculate so much faster than their classical counterpoints that this problem is child play for them.
They can figure out in seconds or minutes what most classical computers could never do.
Could the Quantum Financial System have been activated?
The concept is simple, but the system has become increasingly complicated over time.
As quantum finance gets better at predicting different outcomes given different variables, algorithms can make better trades given individual investors preferences.
Quantum finance can tell people with stock options when the best time to exercise them is. It can assess risk by better calculating probabilities, making arbitrage more profitable.
Little is it known that this new system has been designed in preparation for the takeover of the Central Bank Monetary Debt System to end the financial slavery and control over the populace.
The QFS is expected to operate on Quantum Benevolent Intelligence with interaction on any financial transaction anywhere in the financial world. As a guarantee that every transaction; is legal and transparent for every account holder.
Truth is, the QFS has been running in parallel with the Central Banking System for some time and has countered many hacking attempts to steal funds.
Sources: thebossmagazine.com, standupamericaus.org