Seeds of Wisdom RV and Economics Updates Thursday Evening 7-4-24
Good Evening Dinar Recaps,
WHAT IS A TIER ONE BANK?
"Banking regulations known as the Basel Accords require banks to have different types of capital on hand. These liquid and cash assets balance out the risk-weighted assets that banks hold. This increases banks' stability, which increases the stability of the overall financial system. "
"Tier 1 capital is the primary funding source of the bank. Typically, it holds nearly all of the bank's accumulated funds. These funds are generated specifically to support banks when losses are absorbed so that regular business functions do not have to be shut down. Under Basel III, the minimum tier 1 capital ratio is 10.5%."
"What Do the Basel Accords Do?"
"The Basel Accords are international banking regulations that ensure banks have enough capital on hand both to meet their obligations and absorb any unexpected losses. They are set by the Basel Committee on Bank Supervision (BCBS)."
© Newshounds News™
Read more: Investopedia
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Crypto Industry Is About to Boom, Is Outperforming the Internet: Architect Partners
The digital asset industry added more than $750 billion in value in the first half of the year, the report said.
—The cryptocurrency industry is starting a major growth phase, the report said.
—Architect Partners said the industry added more than $750 billion in value in the first half of the year.
—Crypto, the stepchild of the internet, is outperforming its predecessor at the same part of their respective life cycles, the advisory firm said.
The digital asset industry is beginning a major growth phase and is in a far better place than it was two years ago, investment bank Architect Partners said in a quarterly report published last week.
© Newshounds News™
Read More: Coin Desk
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"ISO 20022 is an ISO standard for electronic data interchange between financial institutions."
"Over the next four years, ISO will revolutionize the banking sector by improving efficiency, data quality and the ability for organizations to establish enhanced controls."
"Over 70 countries have already adopted ISO 20022 in their payment systems including Switzerland, China, India and Japan. SWIFT, which begins its own migration journey to ISO 20022 in November 2022, estimates 80% of global, high-value payments by volume will be processed through the standard by 2025."
© Newshounds News™
Read more: The Global Treasurer, Wikipedia
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BRICS and XRP
"In its foundational documents, including summit declarations and joint communiqués, BRICS emphasizes key principles like respect for sovereignty, non-interference in the internal affairs of member states, and a commitment to a multipolar world. These documents typically revolve around topics such as trade, investment, technology, and sustainable development."
BRICS and XRPL: A Surprising Convergence
"Surprisingly, within the realm of these documents, a unique convergence with blockchain technology, particularly Ripple’s XRPL, becomes apparent. The mention of XRPL within BRICS documents reflects an acknowledgment of the potential of blockchain technology to reshape the global financial landscape. This recognition indicates that the member nations of BRICS perceive blockchain as a strategic enabler for enhancing financial systems, fostering transparency, and promoting efficient cross-border transactions."
"Ripple’s XRP Ledger (XRPL) stands out in the blockchain space due to its focus on facilitating real-time, cross-border transactions with minimal fees. Unlike traditional financial systems, which can be slow, costly, and subject to intermediaries, XRPL’s decentralized nature allows for seamless peer-to-peer transactions, enabling faster remittances and lower fees. So, the integration of XRPL technology could potentially streamline trade and investment between BRICS member states, promoting economic growth and collaboration."
© Newshounds News™
Read more: All Coin Buzz
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Vietnam's Digital Payments Landscape: A Look at the Emerging Trends
Vietnam's digital payment ecosystem is undergoing a remarkable transformation, driven by a tech-savvy population, government initiatives, and innovative financial solutions. Over the past decade, the country has seen a surge in digital payment adoption, making cashless transactions a way of life for millions of Vietnamese people.
Vietnam's digital payment revolution is marked by a shift away from cash transactions toward convenient, secure, and efficient digital payment methods. E-wallets, QR code payments, contactless cards, and innovative fintech solutions have played a pivotal role in reshaping the country's payments landscape.
Read more: FinExtra
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Japan Is on a Web 3.0 Hot Streak, and the World Should Take Notes
From its cultural heritage to cutting-edge technological advancements, Japan is where ancient customs and modern marvels converge.
The unique blend of tradition and innovation reflects Japan’s strategic positioning within crypto.
Putting regulatory clarity into practice
Despite crypto’s evolution from a speculative investment to an asset class contributing to a balanced portfolio, governments worldwide remain conflicted about how to regulate it.
While it’s not atypical for regulatory bodies to disagree on how to oversee financial instruments, the approach to crypto assets continues to be divisive.
India, for example, has no centralized authority handling crypto regulations and offers no guidelines for settling disputes when dealing with digital assets, leaving investors to trade at their own risk.
The absence of regulations allows unmonitored practices to flourish – and without appropriate safeguards, criminals can and do benefit from the lack of oversight, leaving law-abiding citizens to suffer.
Without laws, there are no legal ramifications, and crypto has magnified this issue before when people or organizations have gotten away with crimes due to legal shortcomings.
{{This is why putting the Regulations into place is so important.}}
Read more: DailyHodl
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CRYPTOCURRENCY EXPLAINED WITH PROS AND CONS FOR INVESTMENT
Learn what you need to know before you invest in a virtual currency | Investopedia
☝An excellent article if you are new to crypto
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