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Federal Reserve Endorses Ethereum-Backed Alternative To Libor

Gesara.news » News » Federal Reserve Endorses Ethereum-Backed Alternative To Libor

News Date: June 14, 2020

Jerome Powell, the current Chair of the US Federal Reserve, recently stated that an Ethereum-backed blockchain project operating as a reference rate called AMERIBOR could serve as a potential replacement to LIBOR.
Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). USD Coin is on the Ethereum blockchain. The execution of issuing and redeeming USDC tokens is ensured with ERC-20 smart contract.
Source: forbes.com
A district court in China has reportedly ruled that Ethereum's cryptocurrency is legal property with economic value.
While cryptocurrency is not legal tender in China, people can hold and transfer them like property.
Source: bitcoin.com

The July 4th full buck moon and penumbral eclipse

Independence Day 2020 will end with a full moon and lunar eclipse.
The Full Moon of July traditionally is known as the Full Buck Moon because it coincides with the time of year when male white-tailed deer are in full-on antler growth.
Everything to know about the July 4th buck moon and penumbral eclipse.
Source:lehighvalleylive.com

US Patent for Quantum computing in business problems

Accenture Awarded US Patent for Combining Classical and Quantum Computing with Potential to Address Previously Unsolvable Business Problems.
Quantum computing has the potential to solve complex business problems millions of times faster than classical computing by leveraging the properties of quantum physics to process multiple computing tasks in parallel.
Accenture new patent - U.S. Patent No. 10,095,981 - reveals how businesses could take advantage of the best aspects of both classical and quantum computing techniques to enable breakthrough solutions to problems that could not be solved before.
Sources: www.businesswire.com

Biblical conjunction of Jupiter and Saturn on December 21

The alignment of Jupiter and Saturn will appear in the skies on December 21, the winter solstice. The last time the rare alignment of the planets was this close was in 1623, nearly 400 years ago. That was only 14 years after Galileo discovered the moons of Jupiter with the invention of the telescope.
Days before Christmas, Jupiter, and Saturn will look like one bright star - some believe the alignment is the same described in the Bible.
This alignment should lead to realization, possibly a great awakening.
Sources: truepundit.com, www.youtube.com, www.theblaze.com

Ripple XRP - Gold standard

Three reasons why Ripple XRP can be the gold standard soon:
1.President Trump's nominee for the Federal Reserve board of governors, Judy Shelton, has advocated for getting back to a gold standard, possibly "in a very cryptocurrency way". She Faces Senate Committee Vote This Week;
Source:gesara.news
2.There are close connections or relations between Donald Trump and Ripple board;
Source:www.youtube.com
3.Ripple XRP already has Support in the US Federal Register New Rule.
Source:gesara.news

Gold standard strategy and the collapse of dollar

The dollar is no longer pegged to gold, but it is still the world's reserve currency. Over 60% of the foreign bank reserves are currently held in US Dollars.
There have been efforts by numerous countries (led by China and Russia) to dethrone the US Dollar as the world's reserve currency. China has been reducing its exposure to the Dollar for a long time, and both China, as well as Russia, have been stocking up on gold in recent times.
Central banks added 650 tons to their reserves in 2019, the second highest shift in 50 years, after the 656 tons added in 2018. Before the 2007-09 financial crisis, central banks were net sellers of gold worldwide for decades. Leading the recent spree has been China, Russia, Turkey, Kazakhstan and Uzbekistan.
China can escape the fate of a dollar collapse by tying the yuan to gold. There is little doubt she has access to sufficient gold. Currently, her interest is to preserve the dollar, not destroy it, because it is the principal means of Chinese foreign interests being secured.
Sources: www.fxstreet.com, uk.news.yahoo.com, seekingalpha.com

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