Fed testing FooWire blockchain with Hyperledger

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News Date: August 15, 2020

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

A new gold standard is coming

Excessive monetary stimulus, a by-product of an undisciplined fiat money system, will create problems for our economy as well as financial distortions, and the long-term solution is to move away from this system and re-adopt a gold standard.
There are a lot of financial bubbles, there are excessive debt levels, inequality is rising, you have got moral hazards, all these side effects of a fiat money standard are not really what we want, and eventually we get a lot of monetary instability and I think then at that point we have to get back to a gold standard.
Sources: www.silverdoctors.com, www.youtube.com

Delaware Supreme Court finds vote by mail, same-day registration unconstitutional

The Delaware Supreme Court on Friday struck down recent vote-by-mail and same-day voter registration legislation, overturning a signature achievement by Gov. John Carney and Democrat lawmakers.
Sources: yahoo

Central Bank digital currencies Competition

China CBDC Pilot Program Beats West to the Punch.
Chinas Ministry of Commerce has announced the pilot run of the country's central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau.
Bitcoin and Facebooks Libra cryptocurrency may eventually be in competition with central bank digital currencies.
Source:www.securities.io, www.forbes.com

President Donald J. Trump is Establishing America's Space Force

Our destiny, beyond the Earth, is not only a matter of national identity but a matter of national security. President Donald J. Trump's Space Policy Directive-4 is a bold, strategic step toward guaranteeing American space dominance that sets the framework for establishing the United States Space Force.
Source:whitehouse.gov

Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval

Switzerland's financial regulator, FINMA, has approved two Zurich-based banks to offer a range of cryptocurrency services, including trading and custody. Maerki Baumann Bank subsequently announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a range of crypto services.
Source:bitcoin.com