(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Goldilocks and Seeds of Wisdom
“Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach.”
This project has reached its minimum requirements that will allow it to work with early adopters on this Digital Ledger Technology enabling instant payments through cross-border International (CBDC) trades. This system will allow foreign currency exchanges through local currencies.
There are now over 26 observing members and Saudi Arabia has just recently joined as a full participant. This DLT will allow payments to be settled in local currencies of those who are early adopters of this new digital payment system.
“Project mBridge is the result of extensive collaboration “starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority.”
In 2022, real value transactions took place on a pilot program and were successful. This project has been coordinated with the Bank of International Settlements, and it is expected to be available by mid-2024.
Since mbridge has reached its minimum viable product stage, it is now able to invite the International community to begin interfacing onto this section of the QFS.
© Goldilocks
Crowdfund Insider
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As of June 2024, the observing members to Project mBridge include: Asian Infrastructure Investment Bank, Bangko Sentral ng Pilipinas; Bank Indonesia; Bank of France; Bank of Israel; Bank of Italy; Bank of Korea; Bank of Namibia; Central Bank of Bahrain; Central Bank of Chile; Central Bank of Egypt; Central Bank of Jordan; Central Bank of Malaysia; Central Bank of Nepal; Central Bank of Norway; Central Bank of the Republic of Türkiye; European Central Bank; International Monetary Fund; Magyar Nemzeti Bank; National Bank of Cambodia; National Bank of Georgia; National Bank of Kazakhstan; New York Innovation Centre, Federal Reserve Bank of New York; Reserve Bank of Australia; South African Reserve Bank; and World Bank.
BIS | Ledger Insights | Product Plan
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According to this report, supply and demand issues in trade are currently in an imbalanced state. The demand for goods and services has steadily grown since the C---d-19 pandemic, and first quarter numbers show a significant growth for the United States and for China. Yet, we are not out of the woods, and supply and demand need to be brought into equilibrium.
High demand is good for traders, and it looks good on the Markets. It is the supply side that is lacking at the present moment due to inflated prices on goods and services. In order to balance the economy and make it grow steadily and forward, there needs to be more attention on moving the products across the country. This will increase money flow and demands on our Stablecoins that in turn gives more purchasing power to our currencies.
Here is where monetary policies come into play. As we move into a tokenized asset and gold token regimen for payment, this will stimulate the process of deflating the economy. A shift in interest rate reduction or remaining steady will give our suppliers liquidity capable of catching up to the demands of companies across the United States and China.
We are at a wait-and-see approach on the FOMC meeting. The changes made at this meeting and the next one are critical to the transition of our economy and it’s moving back into profitable status.
Supply Chain Brain | Investopedia
WATCH THE WATER.
© Goldilocks
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When will the next fed rate cut be? Look ahead to future FOMC meetings | Investopedia
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Mastercard Launches Open Banking Solutions in Partnership With Atomic to ‘Enhance User Experiences’ | The Fintech Times
Payments giant Mastercard has integrated Deposit Switch and Bill Pay Switch into its open banking platform, in a move that enables consumers to automatically switch their direct deposits and update their recurring bill payments, when opening a digital account or when updating information on an existing account.
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XRP COULD BECOME THE WORLD’S RESERVE CURRENCY – RIPPLE XRP NEWS | Youtube
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Iraq Seeks $2.5 Billion Missile System from South Korea #iqd #vnd #htg #ZiG Rates | Youtube
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Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements | Coin Trust
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Italian Banking Association trials two styles of wholesale CBDC – Ledger Insights – blockchain for enterprise
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Fidelity Intl tokenizes fund on JPM Tokenized Collateral Network – Ledger Insights – blockchain for enterprise
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Solar-Powered Planes Are Ready to Take Off (And Fly for Months at a Time) – WSJ
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BREAKING NEWS:
Apple unveils “tap to pay” between iPhones!
Apple is interconnected with Ripple’s Interledger Protocol!
All the roads lead to one destination and the destination is called #XRP
Crypto Barbie on Twitter
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Source: Dinar Recaps
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