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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

Ripple Patent and Standard Outshines Swift

Blockchain payments technology firm Ripple has won a patent for a design that can execute smart contracts based on data collected from the outside world.
That means it Can Settle Derivatives And Oil Contracts.
Cross-border payments network Ripple (XRP) also announced in May that it has become part of the ISO 20022 Standards Body, becoming its first member focused on distributed ledger technology (DLT).
Sources:gesara.news, www.coindesk.com

Trump: Things are happening that I cant talk about

HUGE breakthrough in Trumps 17 minute remarks Announcing the Normalization of Relations Between Israel and the United Arab Emirates, exactly at min 3:17:
Trump: Things are happening that I can't talk about, but they're extremely positive...
Sources:www.youtube.com, www.whitehouse.gov

He got caught OBAMAGATE

Trump claims Obama committed 'biggest political crime in American history'
He spent Mother's Day diving into the rightwing fever swamps and unleashing a barrage of tweets and retweets assailing his predecessor. One said simply "OBAMAGATE!" (the suffix "gate" is a frequently used play on the Watergate scandal that toppled President Richard Nixon).
Source:theguardian.com

Trump Tower famous escalator Currency Exchange

5 years ago, on June 16th, 2015, Donald Trump announced his candidacy for President of the United States Of America.
He came down the famous escalator along with Melania at Trump Tower!
This is a day to remember!
Look behind!!!
Is this just a coincidence?
Currency Exchange?
Gold walls?
Source:youtube.com

Fed testing FooWire blockchain with Hyperledger

Federal Reserve detailed FooWire distributed ledger experiment designed to test whether the technology is suited for payments application.
The team built the system using Hyperledger Fabric, a popular DLT platform, because it generally met the team's design requirements of a closed network, mature technology, and enterprise readiness. The experiment highlighted the potential of DLT for certain payment uses, the quick speed with which a system could be implemented, the potential simplicity of smart contracts, and the range of functionality offered by such platforms. It further highlighted the need for more experimentation to better understand the possibilities for wide-scale adoption and use of any DLT platform for payments.
Source:www.federalreserve.gov

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