Stellar reveals Financial Inclusion report

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News Date: January 10, 2024

Stellar Development Foundation (SDF) released a whitepaper discussing the role of blockchain technology in facilitating financial inclusion.
The whitepaper underscores the significance of financial services access for global financial inclusion, particularly in developing economies.
Despite advancements in digital payments, cash remains prevalent in emerging economies. Many unbanked adults still receive government and private-sector payments in cash, impacting financial inclusion.
It emphasizes digital payments as a pivotal entry point to formal economic participation. Despite the persistence of cash usage, transitioning to digital payments can encourage broader use of financial services.
The paper delves into the hurdles of cross-border payments and highlights blockchain's potential to address these challenges. It showcases blockchain's role in enabling secure, cost-effective transactions.
Additionally, it presents various applications of blockchain, such as facilitating cash-to-digital asset conversions, safeguarding against currency devaluation, and supporting humanitarian aid distribution.
While recognizing blockchain's promise for financial inclusion, the document emphasizes the necessity of balancing innovation with consumer protection, privacy, and financial education to ensure the creation of inclusive and secure financial systems.
Full report: stellar.org

US treasury dollar on the US Debt Clock

No more federal reserve note on USDebtClock.org. Now called US treasury dollar.
The U.S. Debt Clock no longer shows the Federal Reserve Note.
It's now three U.S. Treasury Dollar. Dollar to gold ratio and Dollar to silver ratio is still zero.

Qatar boosted gold reserves to record levels

Qatar boosts gold reserves to record levels after buying 14.8 tonnes in July.
The Qatar Central Bank is the latest bank to announce an increase in its holding of precious metals.
Reserve data from the central bank shows it bought 14.8 tonnes of gold last month.
Source: kitco.com

The Cybersecurity and Infrastructure Security Agency (CISA)

CISA warns against disinformation on election results, election process. Be prepared for efforts that call into question the legitimacy of the election.
The Cybersecurity and Infrastructure Security Agency (CISA) works to ensure the physical security and cybersecurity of the systems and assets that supports the Nations elections. Known as election infrastructure, this assembly of systems and networks includes but is not limited to:
> Voter registration databases and associated IT systems
> IT infrastructure and systems used to manage elections (such as the counting, auditing, and displaying of election results, and post-election reporting to certify and validate results)
> Voting systems and associated infrastructure
> Storage facilities for election and voting system infrastructure
> Polling places to include early voting locations
Sources: www.cisa.gov, www.boston25news.com

Central banks bought a record amount of gold

Record central bank buying lifts global gold demand, WGC says.
Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council (WGC) said on Tuesday.
Sources: reuters.com

Argentina abolishes income tax

Argentina's government, ahead of a critical October 22nd election, has surprised many by announcing a tax exemption for millions of citizens, sparing them from income tax payments.
This move, amidst rampant inflation, directly contradicts Argentina's IMF deal, causing controversy.
It's seen as a political strategy to win favor in the election, but critics worry about its impact on fiscal responsibility and economic stability.
This decision underscores the intricate relationship between economic policy and politics in Argentina and raises questions about the nation's global financial reputation.