Ripple Patent and Standard Outshines Swift

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News Date: October 3, 2020

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

The Central Bank of China Extends Gold Buying

China Extends Gold Buying With Fresh Flows to Central Bank.
The People's Bank of China raised its holdings by 30 tons in December, according to data on its website on Saturday.
This follows November's addition of 32 tons, and brings the nation's holdings to a total of 2,010 tons.
Sources: bloomberg

Brazil is pushing to reform the World Bank and the IMF

Brazil's G20 presidency is focused on leveraging its influence to drive essential reforms within the IMF and the World Bank.
The nation aims to enhance the representation of emerging economies, including the BRICS nations, in these institutions.
Additionally, Brazil is exploring alternative financial mechanisms like the BRICS Bank to complement the existing global financial architecture.
This proactive approach seeks to create a fairer and more inclusive global economic order.

Independent Financial System planned by Russia and the Islamic world

Russia and the Islamic countries talk about the creation of an independent financial system and de-dollarization.
According to Alexey Overchuk, deputy prime minister of Russia, Russia is in conversation with countries in the Islamic world about current global changes, particularly the de-dollarization processes.
Alexey Overchuk mentioned the de-globalization processes, the shift of industrial output, the fall of Western investment in the Global South, and the concerns with energy and food security among other things on the agenda.
"Of course, our relations with Islamic countries are influenced by global shifts that are taking place and global trends.
We are talking about processes of de-dollarization and the creation of an independent financial system.", Overchuk stated, through a TASS report.

Indian Sovereign Gold Bonds

The Reserve Bank of India (RBI) has announced the Sovereign Gold Bond Scheme 2022-23 - Series III, which will be open for subscription during December 19-23, 2022.
Sovereign Gold Bonds, or SGBs, are issued by the Reserve Bank of India on behalf of the Indian government as an alternative to physical gold.
These gold bonds can be sold only to resident individuals, Hindu Undivided Families (HUFs), trusts, universities, and charitable institutions.
These bonds offer a superior alternative to holding gold in physical form. The risks and costs of storage are eliminated.
Sources: indianexpress

Quantum information science to change the world

Trump administration establishes $75 million quantum computing centers.
Trump: Quantum information science has the potential to change the world. But to realize that potential, we must first answer some fundamental research questions.
The White House Office of Science and Technology Policy and the National Science Foundation (NSF) announced Tuesday the establishment of three quantum computing centers across the nation, involving an investment of $75 million.
The establishment of the centers stems from a provision in the National Quantum Initiative Act: www.congress.gov
Source:thehill.com