“Functional Framework” – Seeds of Wisdom RV/GCR Update(s) from Goldilocks 6-4-23

Goldilocks and Seeds of Wisdom

Goldilocks posted some news links and comments:

“US Republicans unveil draft bill for cryptocurrency regulation”

Two US Republican lawmakers revealed a new draft bill on Friday. As you can see in the articles below, there is a challenge before Congress to work up a bill that is more user-friendly for the private sector. 

This new bill includes consumer security and encourages innovation. People are more likely to use and adopt a crypto environment that allows their own unique creativity/spirit to embrace the fullness of its potential.

This bill also includes a path to registering with the SEC for protections and guidance on cryptos use case scenarios without being too controlled at the same time.

This legislative process is pushing for certain crypto coins to be listed as commodities giving real values to their ownership and use.

This is why the new bill has to be done by the June 30th deadline to meet the requirements of SOFR regulations.

The goal is to create a “functional framework” of understanding that includes a standardized process through protocols capable of being processed on the QFS. 

AA LINK

Coindesk LINK

CoinGape LINK

Crypto Mode LINK

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What is going to make the new digital asset-based trading system work?

The simple answer is Web 3 internet, and it has a lot of very deep levels and transactions to make it possible. 

There are two very important functions on Web 3 that will decentralize the protocols and make the system work efficiently:

* “Tokenized blockchain protocols, such as layer 1 and layer 2 blockchains; 

* and tokenized smart contract protocols deployed to blockchains.” 

For example, Bitcoin cannot scale on the QFS, but Bitcoin Lightning has been created to make it possible. 

And, smart contracts will ensure funds are available on both sides of a trade.

We are going to see a lot of bridge coins creating pathways to many of the cryptos early adopted in the blockchain networks after July 1st. 

At that point, new values will be created on an ongoing basis through an open market system designed to be utilized through an open banking system on a blockchain network called the QFS.

JDSupra LINK

FTI Consulting LINK

Web3 LINK

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The New Development Bank in the East is in the process of creating a common currency. 

It will be known as a common unit of payment that will level the playing field in Europe and the US in trade. 

This will enable National Currencies to rise to a value representative of this common unit of payment allowing trade between global nations that would not have otherwise been possible. 

These new demands will increase the value of our Eastern currencies through a platform designed to transfer wealth between nations more securely and more profitably. 

Watch the water.

https://tass.com/economy/1625965

Source: Dinar Recaps

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