Trump plans to make permanent cut to payroll tax if reelected

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News Date: August 10, 2020

Saturday, in Bedminster, N.J., Trump announced, If victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax.
Trump says that if reelected, he'll pursue permanent cut to payroll taxes that fund Social Security, Medicare.
Sources:https://www.washingtonpost.com/, twitter.com, www.youtube.com

HSBC introduces tokenized gold platform

HSBC is the First Bank in the World to Offer Tokenized Gold.
HSBC Holdings Plc, a major bullion bank, has introduced a platform that utilizes blockchain technology to tokenize ownership of gold stored in its London vault.
This platform generates digital tokens representing gold bars, making gold trading more accessible.
While initially targeting institutional investors, it plans to open up to retail investors where regulations allow.
HSBC's entry into the tokenized gold market is notable due to its significant role as a custodian of precious metals and a clearer on the London gold market.
The technology promises to streamline the process, allowing clients to easily track their gold ownership down to the serial number of each bar.
HSBC has been actively exploring blockchain technology and recently launched HSBC Orion, a tokenization platform for digital bonds, with successful applications in the market.

ISO 20022 migration. The Ripple effect strikes the Pound

Ripple Joins the Digital Pound Foundation: Designing a Path for a CBDC-Forward Future.
Ripple is excited to announce it is joining the Digital Pound Foundation, a non-profit focused on the development and implementation of a digital Pound in the United Kingdom.
ISO 20022 promises greater interoperability between various settlement networks, richer information flows, higher levels of straight-through processing, and more efficient compliance processes.
It signals a significant opportunity for banks to improve operational efficiency and reassess existing business models.
ISO 20022 has already been introduced for high-value payments systems (HVPS) in major countries and is established as the standard in instant payments markets following implementations worldwide.
Sources: ripple.com, www.sibos.com

Switching to gold standard

Deutsche Bank's top credit strategist Jim Reid has described himself as "a gold bug," and reckons "fiat money is a passing fad in the history of money," RT's Keiser Report recalls for the show's viewers.
Sources:www.youtube.com

BRICS Alternatives to SWIFT

BRICS is the acronym denoting the emerging national economies of Brazil, Russia, India, China, and South Africa.
It is a growing eastern world alliance led by China.
In another effort to reduce their dependence on the US dollar, BRICS members have been building their own global payment infrastructures for international transactions that are independent of the US dollar and can serve as alternatives to SWIFT, the leading messaging network for financial transactions worldwide.
This allows BRICS members, especially those who are often subjects of US sanctions, to create their own rules for international banking and settlement. Moreover, by extending alternative financial infrastructure to other countries and regions, BRICS can create greater buy-in for their own system and increase their financial and political influence through this alternative system.
Some BRICS members have independently developed their own cross-border payment mechanisms in recent years.
Both Russia and China have launched their national alternatives to the SWIFT global banking network and introduced their systems to broader global markets. Source: www.cambridge.org

Multichain integrates XRP Ledger

Multichain is supporting XRP Ledger (XRPL) for cross-chain connection with EVM and non-EVM compliant blockchains.
Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other.
As a cross-chain infrastructure, Multichain facilitates interoperability across different networks and enables seamless transfers of assets and values.
With a constantly growing family of non-EVM and EVM chains (now 39), Multichain is the leader in the cross-chain field.
Its sustained daily volume of more than $200 million, its Total Value Locked in excess of $6 billion, and its thousands of daily users are testament to its popularity and security.
Source: medium.com