“These prudential recommendations apply to ‘payment stablecoins,’ defined as those stablecoins that are designed to maintain a stable value relative to a fiat currency and, therefore, have the potential to be used as a widespread means of payment,” the report said. “These stablecoins are often, although not always, characterized by a promise or expectation that the stablecoin can be redeemed on a one-to-one basis for fiat currency.” Source
The Ethereum blockchain’s native cryptocurrency, ether (ETH), broke its three-week dry spell last week, with fund inflows of $16.6 million. Year-to-date, ether funds have brought in $1.06 billion, second only to the $6.37 billion of inflows into bitcoin funds in 2021. Source
The metaverse envisioned by Facebook is a kind of all-encompassing iteration on these concepts. It wants us to be more engaged, more online, while the world around us degrades. To the extent that the metaverse is already here, it’s an attempt to complement the systems we already use. It doesn’t ask us to completely reorient how we interact with each other online. Source
On Monday, Metro Mayor of the Liverpool City Region Steve Rotheram announced a 700,000 pound ($955,957) investment into blockchain-powered food delivery service Peepl. The software aims to act as a cost-efficient alternative to food delivery giants for local restaurants. Peepl claims that it can save restaurants up to 50% on the commissions typically charged by food delivery platforms through its technology and partnerships. In addition, the Peepl platform promises to give consumers back 5% to 10% on each order’s value in the form of Peepl Tokens (PPL). However, they will…
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Inflation continues to remain hot in the United States as supply constraints and higher oil prices continue, seeing barrels of crude surge above $80 per unit. Meanwhile, data released on Friday indicates that consumer expenditures have risen to 4.4%, the highest run-up of inflation the country has seen in 30 years. Inflation Continues to Rise in US Americans are dealing with higher inflation levels these days as new data indicates that personal consumption expenditures have spiked in September to 4.4%. Reuters reports that the inflation run-up is “continuing a run…
Major online retailer Amazon’s IT service management company may be considering driving adoption in the digital asset space among its customers. According to a Saturday job posting, Amazon Web Services’ New York office is hiring a Financial Services Specialist who “understands the overall cryptocurrency and digital asset ecosystem,” with experience in blockchain and distributed ledger technology. The company said the position would work with regulators, financial institutions and capital market operators to explore how they might benefit from digital asset adoption. The prospective employee would encourage those in senior positions…
Ether (ETH) pundits have been shouting that the $5,000 price is ‘programmed,’ since 2018 and some go even further by calling for $20,000 over the long-term. $5000 $ETH. It is programmed. — Koroush AK (@KoroushAK) October 29, 2021 A portion of these bullish calls are based on ETH 2.0 staking and the reduced inflation resulting from EIP-1559. At this time in 2017, $BTC was around $2k Just 7 months later it was almost $20k What do you think happens when the world wakes up to the APR and deflationary aspect…
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In a blog post published on Sunday, Ethereum (ETH) co-founder Vitalik Buterin voiced his support for utilizing the cryptocurrency phenomena to serve the interests of local governments and their citizens. Specifically, Buterin discussed the formation of city tokens and decentralized autonomous organizations, known as DAOs. DAOs are self-governing organizations where users draft and enforce rules themselves, such as voting on protocol amendments based on the amount of the underlying crypto tokens they hold. The idea is still in its infancy. Nevertheless, Buterin claimed that city tokens should satisfy at least…