Seeds of Wisdom RV and Economic Updates Friday Morning 9-6-24

Good Morning Dinar Recaps,

CORE BLOCKCHAIN UNVEILS LIQUID STAKING TOKEN FOR BITCOIN: $LSTBTC

A New DeFi Opportunity for Bitcoin Holders

Core Blockchain has introduced a new liquid staking token, $LstBTC, that promises to revolutionize how Bitcoin holders engage with decentralized finance (DeFi). 

This innovation allows users to stake their Bitcoin (BTC) without having to lock it up, offering them the ability to earn rewards while maintaining liquidity. With this launch, Core Blockchain aims to bridge the gap between Bitcoin and DeFi, enhancing BTC’s utility within this rapidly growing sector.

Liquid Staking for Bitcoin: Expanding DeFi Access

The $LstBTC token is pegged 1:1 to Bitcoin, meaning each token represents an equal amount of BTC. What sets it apart is its liquid staking feature, which resolves a longstanding issue for Bitcoin holders. Typically, staking assets like BTC requires locking them up in exchange for rewards, limiting their use in other applications.

 However, with $LstBTC, users can stake their Bitcoin and still keep it liquid, making it available for DeFi use. This dual benefit is expected to enhance Bitcoin’s role in the DeFi ecosystem, a space where the cryptocurrency has traditionally been underrepresented.

Core Blockchain believes that $LstBTC provides a new avenue for Bitcoin holders who want to earn rewards without sacrificing the flexibility of their assets.

The token’s innovative design allows users to participate in DeFi protocols, such as lending, borrowing, and yield farming, without the usual restrictions imposed by traditional staking mechanisms.

Daily Rewards in $CORE Tokens

One of the key incentives of $LstBTC is that it offers daily rewards to its users in $CORE, the native token of Core Blockchain. This feature makes staking more appealing to Bitcoin holders, who can now earn a steady stream of $CORE tokens while their BTC remains accessible for DeFi activities.

The daily reward structure provides an additional layer of utility, attracting users who want to maximize their returns without losing access to their Bitcoin.

Core Blockchain envisions $LstBTC as a tool that will drive greater adoption of its ecosystem. By integrating liquid staking with Bitcoin, the platform anticipates attracting both existing users and newcomers who are looking for more flexible ways to utilize their digital assets. This strategic move aligns with Core’s broader goal of expanding its user base and increasing participation in DeFi.

Boosting DeFi Adoption Through Security and Growth
Another critical aspect of $LstBTC is its focus on security. The token is managed through a multi-signature (multi-sig) setup, which involves multiple entities participating in its management. This added layer of protection ensures that the token is secure and resistant to single points of failure.

 Multi-sig setups are commonly used in the blockchain space to enhance security by requiring multiple approvals for any transaction, thus safeguarding the asset from potential misuse or theft.

Rich Rines, an early contributor to the Core DAO, highlighted that while Bitcoin dominates the cryptocurrency market, its integration into DeFi has been limited.

He believes that $LstBTC could be a game-changer in this regard. By making Bitcoin more accessible and usable in DeFi, Core Blockchain aims to unlock the potential of BTC in a sector where it has traditionally had a minimal presence.

The liquid staking solution not only benefits individual users but also aims to attract developers to build new products on Core’s platform. By providing a secure and flexible tool for staking Bitcoin, the company hopes to encourage the creation of additional liquid staking products, further expanding the ecosystem’s capabilities.

Driving Ecosystem Growth and Adoption
Core Blockchain anticipates that $LstBTC will attract a wider audience, from experienced Bitcoin holders to developers eager to build on the platform. The token’s unique combination of liquidity, staking rewards, and security is designed to appeal to a broad range of users, driving growth and innovation within the ecosystem.

The company expects that as more people adopt $LstBTC, the Core platform will see a surge in development activity. New liquid staking products, DeFi applications, and tools built around $LstBTC could significantly enhance the platform’s offerings. The growth in adoption could, in turn, attract more developers to the ecosystem, creating a positive feedback loop that fuels further expansion.

Core’s vision for $LstBTC is not limited to short-term gains. The company aims to position itself as a key player in the DeFi space by providing innovative solutions that address some of the industry’s most pressing challenges, such as asset liquidity and security.

By creating a product that combines these elements, Core Blockchain is paving the way for Bitcoin to play a more significant role in the future of decentralized finance.

In conclusion, the launch of $LstBTC represents a major step forward for both Core Blockchain and the broader DeFi space. By offering Bitcoin holders a way to stake their assets without locking them up, Core is addressing a key pain point for users and unlocking new opportunities for growth.

The added security of a multi-sig setup and the potential for ecosystem expansion make $LstBTC a compelling proposition for those looking to engage with DeFi while retaining the flexibility of their Bitcoin holdings.

@ Newshounds News™

Source:  Cointrust

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DECENTRALIZED PHYSICAL INFRASTRUCTURE NETWORKS OFFER NEW OPPORTUNITIES IN THE CRYPTO WORLD

▪️DEPIN integrates physical assets with blockchain technology.

▪️It has significant potential in energy and smart city projects.

▪️Widespread adoption may take time due to early-stage development.

In the world of cryptocurrencies, decentralized physical infrastructure networks (DEPIN) are emerging as a new application area. This new technology is expected to create a significant shift in the crypto ecosystem. DEPIN aims to enable decentralized applications (dApps) to integrate more with the physical world.

What is DEPIN?

Decentralized physical infrastructure networks allow users to manage physical assets using blockchain technology. This includes controlling sensors, distributed energy sources, and other physical devices via blockchain. DEPIN is noted to have significant potential, particularly in the energy sector and smart city projects.

Revolution in the Energy Sector

The use of DEPIN in the energy sector can enable more efficient management of distributed energy resources. Users can optimize their energy consumption by managing individual energy sources like solar panels through blockchain. This can lead to reduced costs and more equitable energy distribution.

Smart City Applications

In smart city projects, DEPIN technology can enable more efficient and sustainable management of city infrastructure. For example, DEPIN can be considered for areas such as traffic management, waste collection, and water resource management. This technology is expected to reduce infrastructure costs while improving service quality in cities.

MV Capital argues that DEPIN will be the next major application area for cryptocurrency. The company states that this technology holds great potential for the future and can create a revolution in many sectors.

“DEPIN will enable decentralized applications to integrate more with the physical world.” – MV Capital

DEPIN, along with decentralized finance (DeFi) and other blockchain-based applications, can create a new wave in the crypto ecosystem. The adoption of this technology can enable cryptocurrencies to be used more widely in real-world applications.

DEPIN stands out as an innovation that integrates crypto technology not only with digital financial transactions but also with the physical world. This technology is considered for a wide range of uses, from energy management to city infrastructure.

There is a general consensus that DEPIN technology holds great potential in the energy sector and smart city projects. However, some sources emphasize that the technology is still in its early stages and that widespread adoption may take time.

While there is agreement on DEPIN’s potential, it is noted that more development is needed for the technology to mature. Discussions on this topic show that there are different views on what the future impact of DEPIN will be

@ Newshounds News™

Source:  Cointurk News

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JAPAN MULLS LOWER CRYPTO TAX RATES IN 2025 OVERHAUL

The country intends to lower taxes on crypto to a flat rate of 20% – in line with taxes that currently apply to traditional assets such as stocks.

Japan's financial regulator, the Financial Services Agency (FSA), has proposed a significant overhaul of the country's tax code for fiscal year 2025. A key component of this reform is a potential reduction in the tax rate for cryptocurrency assets.

In a recent request submitted to the government, the FSA advocated for treating cryptocurrencies as traditional financial assets, aligning them with publicly traded investments. This move could pave the way for a more favorable tax environment for crypto holders in Japan.

“Regarding the tax treatment of cryptocurrency transactions, cryptocurrency should be treated as a financial asset that should be an investment target for the public,” the FSA said.

The FSA's proposal aligns with the growing sentiment among crypto advocates in Japan, who have been petitioning the government to reform the tax on cryptocurrencies, saying that high tax rates on crypto profits are "hindering" the ability to save and invest.

Currently, crypto profits in Japan are subject to a miscellaneous income tax rate ranging from 15% to 55%. The highest rate applies to earnings exceeding 200,000 Japanese yen ($1,377). This compares unfavorably to the 20% maximum tax rate on profits from stock trading.

For corporate entities, the tax burden on unrealized crypto gains is even more substantial, with a flat 30% rate applied at the end of each financial year, regardless of whether a profit has been realized through a sale.

At the WebX Conference held in Tokyo last week, Japanese Minister of Economy, Trade and Industry Takeru Saito said he would help the industry create more use cases by implementing tax reforms to support the development of start-ups, local media reported.

While the FSA's proposal represents a positive step towards a more crypto-friendly tax environment in Japan, the ultimate outcome will depend on the deliberations of the tax system research committee and the country's national legislature.

If approved by both houses of the Japanese government, the proposed tax reforms could significantly impact the nation's crypto industry.

@ Newshounds News™

Source:  Blockhead

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Farm Bill Showdown Will Congress Act  |  Youtube

@ Newshounds News™

Source:  Currency Facts

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India's Blockchain Revolution  |  Youtube 

@ Newshounds News™

Source:  Currency Facts

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News, Rumors and Opinions Friday AM 9-6-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Fri. 6 Sept. 2024

Compiled Fri. 6 Sept. 2024 12:01 am EST by Judy Byington

The Storm is Upon Us
Imminent
Worldwide Financial Collapse
Global Currency Reset Release, Along With NESARA/GESARA Funds

It’s only wise to have at least a month’s supply of food, water, cash, medicine and essential items on hand for yourself, your family and to share with others in case of emergency.

Judy Note: Friday 6 Sept. 2024 activation of the new Global Quantum Financial BRICS payment system was expected and if so, will drive a final nail into the D********e C***l Globalist’s Coffin. Their total reliance on the U****c. fiat dollar that had nothing to back it, meant the Globalists would be officially broke, while the World would function on gold/asset-backed currencies of Sovereign Nations that traded at a 1:1 with each other.

Right now and Worldwide, Customer Service Only Banks and financial institutions were connecting to the Quantum Financial System grid – a fortress of security, with quantum-level encryption that no hacker or rogue state could penetrate.

The C***l no longer would hold control over the Global Financial System, no longer could hold The People hostage in debt. Once a BRICS Nation Blockchain Payment was made by an individual on the new system in an account only they had access to, it would create a totally transparent online digital footprint that was fast, secure, couldn’t be deleted, while removing any element of possible corruption.

Gold/asset-backed Quantum Financial System, NESARA/GESARA appears to be live for the greatest transfer of wealth in history

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(Note:Just because there is a “Big Name” attached to intel- does not mean that is really the real person-There is a lot of “fake” information everywhere…..Use discernment and consider everything a rumor until we are actually at the banks)

Thurs. 5 Sept. 2024 URGENT UPDATE! The Financial System’s Collapse is Imminent—EBS, QFS, and NESARA Are Set to Launch! …Julian Assange on Telegram https://t.me/JulianAssangeWiki/2188

The Storm is upon us, and the truth is breaking through faster than they can cover it up. High-level insiders are confirming that the Quantum Financial System (QFS), the Emergency Broadcast System (EBS), and NESARA are not just rumors—they’re ready to roll out!

Politicians in the know are leaking critical details, whether by accident or design, preparing us for the seismic shifts ahead. This is a coordinated effort, folks—those who want to be on the right side of history when the hammer drops are making their moves now.

The signals are clear, the signs are everywhere. These leaks aren’t just chatter—they’re warnings. The QFS is on its way, the EBS is about to be activated, and NESARA is set to transform our world. The old corruptt system is crumbling, and the new one is rising from the ashes.

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Thurs. 5 Sept. 2024 Wolverine: “The RV is imminent. Just stay put. It is coming.”

Thurs. 5 Sept. 2024 Bruce: “The Dinar is trading on the Forex, but the rate is not exchanging yet. My sources say R&R payments will be paid the first ten days of September. The amounts will be shown in our new accounts on the Quantum Financial System when we go in to redeem. Bond Holders can already see their money in their accounts, but they do not have access to it yet. My sources say that the days of Sept. 6, 7 and 8 will be important dates for us.

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Thurs. 5 Sept. 2024 The Quantum Financial System (QFS), Ben Fulford:

This is the Great Financial Shift leading to a new Quantum Financial System that can only contain true asset-backed currency. An asset-backed digital currency qualifies as a “currency.”

All currencies will be “Asset Backed” in each country. This could be gold, silver, platinum, oil, precious metals or any other major asset that the country has.

Only two crypto currencies will be backed by gold – XRP and XLM!

All others, not backed by assets, will disappear by the end of 2024.

Quantum software and computers make the system the most secure on the planet and impossible to hack.

All banking transactions will eventually be conducted in QFS.

Banks as we know them will change dramatically.

QFS will hold all money in “Digital Form”, although it will still be asset-backed.

All money transfers (moves) will contain at least 50 movement records, which will be stored in milliseconds simultaneously on six main surface server farms.

All cash movements are kept in permanent records. So there is NO f***d or criminal activity that cannot be traced.

All people will have a “digital wallet” account with QFS rather than with a bank.

This digital wallet is 100% secure.

You can use your “Debit Card” directly from this account.

You can transfer money with 100% security to any bank account, country, citizen anywhere in the world.

We will receive “Q” phones (Quantum Phones) and “Q” computers to ensure 100% security worldwide.

Thurs. 5 Sept. 2024 Breaking News: Launch of New Gold-Backed Economy!

Now, a new era is dawning—one backed by gold, digital assets, and the revolutionary Quantum Financial System (QFS). As the d********e’s grip loosens, NESARA GESARA emerges as the beacon of financial freedom, tearing apart the globalist chains that have enslaved humanity for generations. The stage is set for a global economic shift that will return wealth and power back to the people.

We are standing on the edge of a new era. Under Trump’s leadership, with the support of GESARA and the QFS, we will see the rise of a golden age—an age of prosperity, transparency, and liberty. Be vigilant, stay informed, and above all, be ready. This is our time, and freedom is coming.

Read full post here:  https://dinarchronicles.com/2024/09/06/restored-republic-via-a-gcr-update-as-of-september-6-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man   Article:  "The Central Bank of Iraq reveals the mechanism for ending the electronic platform"  Quote:  "During the year 2024 and until now, 95% of the transfer process from the electronic platform to the correspondent banking mechanism directly between it and Iraqi banks has been achieved, which means that only about 5% of it remains...which will be transferred...before the end of this year..."   We should all be very clear about what is transpiring before our eyes with Iraq's reforms...We are seeing the end results with a mere 5% left to complete...So they already achieved what they were working on in the past. They are ready for completion to the best of my understanding now. Not later. Wow!

Frank26   Article:   "Two conditions to achieve it .. Al-Sudani's advisor rules out removing 3 zeros from the currency"  This is what's happening right now.  This is called diversion tactics...slight of hand.  This was done with China and it was done with Kuwait...This is part of the monetary reform.  To put out disinformation that is a deterrent, maybe, that is putting speculators at bay.  

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Inflation goes down again

Nader:  9-5-2024

https://www.youtube.com/watch?v=1VyWFZQL-cM

**

What happened in the meeting Iraq and the treasury?

Nader:  9-5-2024

https://www.youtube.com/watch?v=mNLjOzeO3vQ

“Tidbits From TNT” Friday Morning 9-6-2024

TNT:

Tishwash:  UAE, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, Oman extend additional voluntary output cuts

 The OPEC+ countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024.

This came as these countries that previously announced additional voluntary cuts in April and November 2023, including the United Arab Emirates, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on 5th September, 2024, during which the eight member countries emphasised their collective resolve to ensure full compliance with the voluntary production adjustments.

In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024, after which these cuts will be gradually phased out on a monthly basis starting 1st December, 2024, with the flexibility to pause or reverse the adjustments as necessary.

The overproducing countries also reconfirmed their commitment that the entire overproduced volume will be fully compensated for by September 2025.

In August 2024, Saudi Arabia, Russia, the United Arab Emirates, Kuwait, Algeria, and Oman, conducted two ministerial discussions with Iraq and Kazakhstan. Both countries were urged to achieve full conformity and compensate for the overproduced volumes since January 2024. Iraq and Kazakhstan committed to engage with secondary sources to outline their plans for production adjustments to achieve compliance and meet the compensation schedules they submitted to the OPEC Secretariat on 22nd August.

The group includes Iraq and Kazakhstan, who have overproduced since January 2024, but have strongly reaffirmed their commitment to the agreement and to their compensation schedules submitted to the OPEC Secretariat as agreed under the 53rd meeting of the JMMC on 3rd April 2024.

Iraq and Kazakhstan reinforced their commitment during the OPEC Secretary General’s visits in late August, conducted in coordination with Saudi Arabia's Minister of Energy and the Chairman of the OPEC and non-OPEC Ministerial Meetings. During those visits, the OPEC Secretariat organised workshops with the secondary sources where both countries provided extensive details on the immediate and concrete measures they are implementing to achieve full conformity with the required production levels and to meet their compensation schedules for August and for September. These measures included advancing field maintenance plans and reducing production alongside with delaying and canceling spot sales for the month of August. Moreover, the countries committed to adjust compensation plans for any over produced volumes in August.  link

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Tishwash:  Iraqi Ambassador to Egypt Calls on Arab Companies to Invest in Iraq

Iraqi Ambassador to Egypt Qahtaan Taha Khalaf announced on Thursday Iraq's support for Egypt in the face of the Zionist campaign to disrupt the Palestinian cause, while calling on Arab companies to invest in Iraq.

Khalaf said, in the opening session of the 114th session of the Economic and Social Council, which was followed by "Al-Eqtisad News", that "the Republic of Iraq supports the Arab Republic of Egypt in what it is exposed to in terms of fabricated Zionist accusations, campaigns and plans in an attempt to disrupt the Palestinian cause."

He added that "the Iraqi government welcomes hosting the 34th regular Arab Summit in Baghdad in 2025," noting that "this grand celebration that the Arab nation is looking forward to, we are trying to come up with decisions that rise to the level of the current challenges, in order for the summit to constitute a qualitative leap in the field of joint Arab action."

He pointed out that "the delegates supporting the Republic of Iraq communicated with the General Secretariat of the League of Arab States to set a date for the meeting of the third team concerned with developing economic and social work headed by Iraq," noting that "the meeting did not take place due to emergency circumstances, the last of which was setting August 26 and a memorandum was circulated in this regard, but the visit of Iraqi Prime Minister Mohammed Shia al-Sudani to Egypt prevented the meeting from being held."

He explained that "Iraq's policy is focused on economic openness, building a broad network of economic relations and attracting investments, and from these starting points, the Iraqi government has developed an ambitious program to develop all sectors, enhance and improve services and simplify procedures."

He added that "the companies that have been present in Iraq for years include Turkish, Iranian and Chinese companies, and we find Arab companies from Egypt, neighboring countries and other Arab countries alongside them," calling on Arab countries to "participate in rebuilding Iraq and exploiting the available opportunities in restoring infrastructure in Iraq."

He thanked "the United Arab Emirates for presenting a study of the work of this council and the General Secretariat of the League of Arab States and the employees for their efforts to prepare for this meeting and provide full support to reach the best results for the advancement of joint Arab action."  link

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Tishwash: Iraq's gateway to the world.. All eyes are on the launch of the FAO and corruption is the biggest "risk"

Iraq is preparing to announce the imminent launch of the Grand Faw Port, one of the largest strategic projects in the country, despite the major challenges that this project has faced since its inception.

Faw Port is an important commercial gateway linking Iraq to the outside world and reducing dependence on the ports of neighboring countries.

The project has faced many obstacles, including financing, political tensions, and logistical challenges. However, official authorities confirm that the project has overcome most of these obstacles, and that the official launch of the port is imminent, which raises hopes of boosting trade and investment in Iraq.

Jamal Al-Halbousi, an expert in maritime border demarcation, says, “The news coming from the port of Al-Faw is good and joyful, especially since the work rate on the project now reaches 98 percent, according to the Daewoo company implementing the port, which is equipped with five docks. Work is now underway to complete the fifth dock, which is 1,750 meters long.”

He added, "More important than these docks is the navigation channel leading to them, as work is being done on it at the agreed capacity so that it can accommodate large ships and navigation is at a very high economic level, meaning that the depth of the navigation channel should not be less than 19.8 metres, and so far it has reached 12 metres or a little more."

He points out that “many aspects have been completed, such as the roads, most of which have been completed, as well as the bridges, the submerged tunnel, and the container yard,” noting that “there are five other projects that complement the port and these must be carried out, and according to the Ministry of Transport, the percentage of completion in them exceeds the timeframes set for them, but until now we need to test them, as within 20 days water must be pumped into the submerged tunnel for the test.”

Al-Halbousi hopes for the “success of the Faw Port project, because that would close all doors to competing ports in the region. Therefore, the five docks must be coordinated and interconnected, and the work must be in one chain. There must be a gradual completion, and there must be an appropriate mechanism for the work and the idea of ​​transporting and transferring goods.”

Regarding the obstacles, he confirms that “corruption is the biggest obstacle facing the port of Faw, so there must be efficient management, and unfortunately Iraq lacks it so far. If the same administrative work in other Basra ports, such as Khor Al-Zubair and others, is reflected in the port of Faw, it will be a disaster for the new port. However, if it is managed by expert companies, the port is a historic opportunity for Iraq to revive the economy.”

 He added, "The port will start operating with five docks, and their success in operation will give Iraq an opportunity to develop and increase the docks because Umm Qasr Port operates with 29 docks, and what is planned for the Grand Faw Port is to contain a greater number of docks than what is present in Umm Qasr Port."

For his part, economic expert, Ziad Al-Hashemi, explains that “the port of Faw holds great strategic importance for the growing Iraqi economy, in which the rate of imports increases annually.”

He added, "The Faw Port, with its five berths, will be able to provide modern services and operations that facilitate the speed and smoothness of handling containers entering and leaving the port, which will enhance commercial movement and the availability of goods required within the Iraqi markets."

Al-Hashemi confirms that “the project may face some challenges related to the contracting process with port operating companies, managing the docks, and the movement and operations of the port, in addition to the fact that the failure to complete the development road paths may cause a limitation in linking the port facilities with the land paths towards the Iraqi governorates, which creates a bottleneck that causes delays in the flow of goods.”

He explained that "there are potential security and political challenges for parties that may want to exploit the port to obtain illegal financial gains and resources. The port may also face a decrease in demand for its cross-border trade services to and from Turkey and neighboring countries, due to the fragile security and political stability, which may lead to an increase in the costs of transit and insurance for containers passing through Iraq to and from the port for the benefit of other countries."

The Faw Port was supposed to have 99 berths and be the largest port in West Asia, surpassing the Jebel Ali Port in the United Arab Emirates. The port adds strategic importance to Iraq and generates huge financial returns through the transport of goods and oil products faster than before.

Fourteen years have passed since the foundation stone was laid for the construction of this port, but political conflicts and the intersection of internal and external interests, in addition to corruption factors, prevented its completion, which prompted the "Popular Movement for the Belt and Road", last April, to demonstrate in the vicinity of the Green Zone, to expose the files of financial and administrative corruption in the Grand Faw Port.

The Greater Faw Project represents an important economic and political goal, given its high financial cost and political and social importance, as many political actors and armed groups seek to control or undermine it to achieve personal gains and political goals.

The Ministry of Transport confirmed this week that the five-berth project, one of the projects of the Grand Faw Port, is witnessing remarkable progress on the ground and faster than its scheduled timelines, noting that the Korean company Daewoo has reached a completion rate of 98 percent in the project.

It is noteworthy that the project to establish the container terminal for the Grand Faw Port, which is one of the five projects of the project, includes the construction of five giant docks for unloading ships with a length of 1,750 meters, and the construction of a container yard with a length of 2,000 meters.  link

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Mot: .. School -- First Day

Mot:  Ever Wonder Why Parents dont post the Second Day of School????

Seeds of Wisdom RV and Economic Updates Thursday Evening 9-5-24

Good Evening Dinar Recaps,

ICCS DIGITAL STANDARDS INITIATIVE SHARES DIGITAL TRADE, EBL CASE STUDIES

The International Chamber of Commerce’s (ICC) Digital Standards Initiative (DSI) for trade documents has come a long way since its founding in 2020.

 In April it published a document that outlined no less than 36 different trade documents and associated standards. Now it has released a series of 22 case studies, including several on electronic bills of lading (eBL).

An eBL has several advantages over the paper version. Given bills of lading are used to collect cargo, they are valuable documents. 

Paper versions are prone to forgery, whereas electronic ones are digitally signed. They’re also much more efficient. McKinsey predicted that eBL could lead to $6.5 billion in direct cost savings.

In order for the importer to collect the cargo on arrival, the original bill of lading has to be couriered from the departure point to the destination.

This can cause delays if it doesn’t arrive fast enough. Plus, couriers carrying the bill of lading have to travel between airports and the ports, creating wasteful emissions.

This latter point was one of the case studies in the ICC paper. Earlier this year, the shipping blockchain network GSBN explored the potential environmental impact, estimating that there’s a potential saving of 440,820 metric tons per year in CO2 emissions. We analyzed the report, finding the figures were rather high, but the saving is nonetheless significant.

BHP contributes to 25% eBL target

Another eBL case study relates to mining firm BHP. One of the key benefits it found by using eBL is that amendments to eBLs are much faster. Otherwise, a new original bill of lading would have to be couriered a long way if there are amendments. This helps to avoid delays in customs clearance.

Stepping back, several shipping organizations have made commitments to adopt eBL, including the FIT Alliance, with only around 2% digitized in 2022. A key hold up is a lack of interoperability between different solutions, something that the ICC is trying to address.

In early 2023, the Digital Container Shipping Association (DCSA), secured commitments from nine of the top ten largest container shipping carriers to adopt eBLs. The first deadline was 50% in five years, with 100% in ten years.

Another shipping association, BIMCO, joined the effort with a shorter target of 25% by 2025. After just a year, four shippers, BHP, Rio Tinto, Vale and Anglo American, have already reached an average adoption rate of 25.1% for iron ore trades.

Lloyds Bank adopts two blockchain solutions

Earlier this year we reported that Lloyds Bank had partnered with WaveBL for eBL. Additionally, it is working with Enigio to use its blockchain-based digital promissory notes (dPN).

The case study starts with shipping carrier MSC issuing an eBL using the waveBL platform. Then the exporter’s bank sent the eBL to Lloyds, which was working for the importer. Lloyds issued a digital promissory note (dPN), that the importer signed.

That digital signature allowed Lloyds to release the eBL faster. Lloyds reckons the solutions reduced the transaction time from 15 days to 24 hours. Plus, it removed the need for six courier trips.

“Together, the eBL and the dPN have eradicated the need for any physical paper to change hands,” said Rogier van Lammeren, Head of Trade and Working Capital Products, Lloyds Bank.

“This has meant a faster transaction, which helps shorten parties’ working capital cycles, with less risk, at lower cost and with significantly less admin for the businesses involved.”

Meanwhile, another case study involved eBL platforms WaveBL and TradeGo integrating verifiable Legal Entity Identifiers (vLEI) into their solutions. Plus, there was a client case study for blockchain eBL solution CargoX.

@ Newshounds News™

Source:  Ledger Insights

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PUTIN CALLS WEST'S POLICY TO BAN RUSSIA FROM DOLLAR SETTLEMENTS ‘STUPID’

The head of state noted that in this situation, Russia and its friendly countries are switching to national currencies in their mutual settlements

VLADIVOSTOK, September 5. /TASS/. The West already understands that it made a mistake, and its stupid steps are only pushing countries to abandon the dollar, Russian President Vladimir Putin said speaking at the plenary session of the Eastern Economic Forum.

"The financial and political authorities of the United States are pushing this process with their not just sloppy, but unprofessional and stupid actions. I think, they already understand that they made a mistake, but they simply cannot get out of this rut.

It is probably rather embarrassing for them to admit that they made a mistake. They should have already made some corrections, as they see that the tools they use do not work," Putin said.

He noted that in this situation, Russia and its friendly countries are switching to national currencies in their mutual settlements. But the Western leaders are not ready to abandon their policies, he added.

"Apparently, only those people who will replace today's generation of politicians can do this. Because changing something means admitting your mistakes. Apparently, this is difficult. And what is the reason for such behavior?

Apparently, they were counting that everything would collapse in our country. That is why they banned us from dollar service. But the trends are not obvious. They only push, as I have already said, these processes, but the trends in the use of currency are connected with the growth of the [Russian] economy," Putin said.

The Eastern Economic Forum is underway on the campus of the Far Eastern Federal University in Vladivostok on September 3-6, 2024. The main theme of the EEF this year is ‘Far East 2030. Combining strengths to create new potential’. The Roscongress Foundation is the Forum’s organizer. TASS is the general information partner of the EEF.

@ Newshounds News™

Source:  TASS

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Trump Doubles Down on Bitcoin, Says He's Got a Job for Elon Musk If Elected

Outlining the economic policies of a potential Trump administration, the former president said Musk could lead a new government fraud task force.

During a speech before the Economic Club of New York on Thursday, Republican candidate for U.S. president Donald Trump asserted that the country would be the “world capital of crypto and Bitcoin.”

In addition to reiterating his stance on digital assets, Trump also proposed—at the suggestion of Telsa CEO Elon Musk—a new government efficiency commission that will audit the federal government.

“I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms,” Trump said. “We need to do it.”

Musk agreed, tweeting in response to reports of Trump’s remarks, “This would unlock tremendous prosperity for America.”

@ Newshounds News™

Read more: Decrypt

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 9-5-24

EU UNIFIED LEDGER FOR TOKENIZATION PROPOSED BY BANQUE DE FRANCE GOVERNOR

It’s well known that the Banque de France is a fan of wholesale CBDC and tokenization. It started running wholesale CBDC trials in 2020. In a speech yesterday, Governor François Villeroy de Galhau outlined his vision for a Capital Markets Union (CMU) and a Banking Union within Europe. An EU Unified Ledger is one of his strategies to improve payments.

He described the Unified Ledger as “a new public-private infrastructure built around a distributed ledger that would include a wholesale central bank digital currency (CBDC), tokenised commercial bank money and tokenised financial instruments, and potentially the digital euro later on. This shared infrastructure would streamline transactions, reduce risks and costs, and thus foster CMU, while preserving the two-tier financial system.”

Rather than a “big-bang” migration he suggests a phased approach targeting specific market segments. Those that currently involve manual or domestic processes might be at the front of the queue. However, he envisions it expanding to a range of tokenized assets and cross border functionality.

While that’s on the wholesale side of payments, he also discussed retail payments. He noted that TIPS is a good backend solution, but that Europe lacks a common front-end payment solution such as in Brazil and India. He hopes that a digital euro might fit that role and envisions eventually integrating the digital euro with foreign faster payment systems.

Meanwhile, the Banque de France is one of the seven central banks involved in the BIS Project Agorá, the proposed unified ledger for cross border payments. Separately, the Banque de France’s DL3S wholesale CBDC platform is the only CBDC amongst three payment options in the European Central Bank’s current wholesale DLT settlement trials in central bank money. It was used to settle the first sovereign digital bond issued in EMEA by Slovenia.

@ Newshounds News™

Sources:  
LedgerInsights
Project Agora 
Banque de France    
Wholesale DLT Settlement Trials   

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IN TRUMP-BACKED CRYPTO PROJECT, INSIDERS ARE POISED FOR UNUSUALLY BIG TOKEN PAYOUTS

The team could get 70% of World Liberty Financial's tokens, a significantly higher-than-normal allocation from a project marketed as a solution to the “rigged” traditional finance system.

A whopping 70% of Trump-backed World Liberty Financial's WLFI tokens will be reserved for the project's insiders, according to a white paper draft obtained by CoinDesk.

Of the remaining 30% of the tokens distributed via a public sale, the founding team will also receive a portion of the proceeds.

When asked if a 70% allocation to insiders is high, one source who advises projects on such matters replied, "LMAO. Nice joke, ser."

World Liberty Financial, the new crypto lending platform promoted by former U.S. President Donald Trump and his sons, advertises itself as a way of "putting the power of finance back in the hands of the people" and a solution to the "rigged" traditional finance system.

CoinDesk has obtained a draft white paper for the project. It reveals that the vast majority of the power promised by World Liberty Financial will be concentrated in the hands of a select few insiders: 70% of WLFI, the project's "governance" crypto token, will be "held by the founders, team, and service providers."

The remaining 30%, according to the white paper, will be distributed "via public sale," with some of the money raised from that also going to project insiders – though some will be reserved in a treasury "to support World Liberty Financial's operations

A 70% allocation to insiders is unusually high. Ethereum's Genesis block reserved a combined 16.6% of ether (ETH) for the Ethereum Foundation and early contributors (though co-founder Vitalik Buterin later said they received even less). The three companies behind Cardano, another popular blockchain project, retained a combined 20% of ADA at its launch. Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is estimated to hold a little over 5% of the total supply.

Asked if a 70% allocation to insiders is high, one source who advises early stage projects replied: "LMAO. nice joke ser."

World Liberty Financial has not finalized its plans yet, according to a person close to the project.

"The team is working with a lot of contributors, and we're not quite sure which version [of the white paper] you are referring to at the moment, but they have not finalized their tokenomics yet," according to a statement from World Liberty Financial. "All the information we've shared so far that is final/approved can be found on WLF's Twitter (X) and Telegram. Those will be the main channels for any announcements."

The token details from the draft white paper follow a CoinDesk report Tuesday about World Liberty Financial, which revealed that the project's team includes members of the Trump family plus people behind a recently hacked crypto app. CoinDesk also reported that World Liberty Financial will be built atop Aave, the popular Ethereum-based lending platform.

World Liberty Financial's allocation raises the question of whether the project is an attempt to cash in on the Trump family's fame rather than build a novel DeFi platform. Pre-sale proceeds have historically been largely invested back into projects, to grow them. If insiders plan to hoard most of the World Liberty Financial money for themselves, how will it deliver on its lofty promises?

One of those lofty promises is to make the U.S. the "crypto capital of the planet." In a Wednesday Telegram post, the World Liberty Financial team advised skeptics that its "plan will speak for itself. The brightest minds in crypto are backing us, and what's coming will make all doubters think twice."

"Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance," the post added. "We believe that DeFi is the future, and we're committed to making it accessible and secure for everyone.

In general, public token pre-sales are rare in today's crypto industry, largely because initial coin offerings (ICOs) – which were once the preferred method for crypto startups to raise funds by selling tokens directly to investors – have fallen out of favor. This shift occurred due to increasing regulatory scrutiny, widespread fraud and the emergence of alternative fundraising models that offer more oversight and investor protections.

World Liberty Financial's approach differs from a traditional ICO, however, because the WLFI token will be non-transferable, meaning it cannot be traded between users. This restriction is likely intended to protect World Liberty Financial from securities law violations.

WLFI token that can't be transferred
According to the white paper, "All $WLFI will be non-transferable and locked indefinitely in a wallet or smart contract until such time, if ever, $WLFI are unlocked through protocol governance procedures in a manner that does not contravene applicable law."

It continues: "Each purchaser of $WLFI will be screened to ensure that no specially designated nationals or other persons sanctioned by FinCen are permitted to purchase $WLFI." "FinCen" seems to be a mistaken reference to the Office of Foreign Assets Control, or OFAC, a U.S. Treasury Department office that's distinct from the Financial Crimes Enforcement Network (FinCEN).

Earlier this week, CoinDesk revealed World Liberty Financial's links to Dough Finance, a recently hacked lending app whose founders include Zak Folkman, a former pick-up artist and entrepreneur who is officially registered as the owner of World Liberty Financial LLC.

While Donald Trump appears to hope that World Liberty Financial could help him earn favor with the blockchain industry, even some of the former president's supporters in the industry are warning that the plan could backfire.

"Is there something that we, as crypto twitter, can collectively do to stop the launch of world liberty coin," Nic Carter, a prominent crypto industry figure and Trump supporter, asked on X (formerly Twitter).

He added: "I think it genuinely damages trump's electoral prospects, especially if it gets hacked (it'll be the juiciest DeFi target ever and it's forked from a protocol that itself was hacked). it's also an obvious target for the SEC. at best it's an unnecessary distraction, at worst it's a huge embarrassment and source of (additional) legal trouble. so are we signing a petition or what?"

Ahead of its launch, the project has attracted the attention of fraudsters and hackers. Yesterday, the X accounts of Eric Trump's wife Lara Trump and Trump's youngest daughter Tiffany Trump were hacked and used to promote a crypto scam crafted to look like World Liberty Financial.

Donald Trump is officially listed as the project's "Chief Crypto Advocate." His two oldest sons, Don Jr. and Eric, share the role of "Web 3 Ambassador." Barron Trump, the former president's 18-year-old son, is World Liberty Financial's "DeFi Visionary."

Though the Trump family appears to have been heavily involved in the promotion and inception of the project, the white paper takes pains to distance the project from any political affiliation, stating: "World Liberty Financial is not owned, managed, operated, or sold by Donald J. Trump, the Trump Organization, or any of their respective family members, affiliates, or principals. However, they may own $WLFI and receive compensation from World Liberty Financial and its developers. World Liberty Financial and $WLFI are not political and have no affiliation with any political campaign."

@ Newshounds News™

Source:  CoinDesk

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XRP Lawsuit Update Today: Ripple Delays $125M Penalty as SEC Appeal Looms

Ripple has successfully delayed the $125 million penalty payment due to the SEC's potential appeal of the August 7 ruling.

Both Ripple and the SEC have the option to appeal the ruling, which could significantly delay the resolution of the case.

The uncertainty surrounding the case has negatively impacted XRP's price and trading volume.

With just 32 days left for the appeal and SEC’s silence post aug 7 is brewing the market with No appeal propaganda. Ripple Labs is hitting pause on the $125 million penalty as their legal battle with the SEC takes another twist. With the SEC hinting at a possible appeal of the August 7th ruling, Ripple’s legal team has successfully requested to delay the hefty payment.

Both sides are now eyeing their next move in what could be a game-changing showdown!

Ripple vs SEC Update
Judge Torres has approved Ripple’s request to keep the $125 million penalty in a bank account while the SEC decides its next move. This temporary hold gives both Ripple and the SEC time to appeal or respond to the important decision about XRP’s programmatic sales.

Ripple’s legal team, in a September 4 filing, secured approval from the SEC to delay paying the $125 million penalty until after September 6. The attorneys proposed depositing $139 million, representing 111% of the judgment amount, into a bank account for 30 days while both parties assess their next steps.

The Appeal Deadline Approaches
The court’s decision extends the time for potential appeals, allowing both Ripple and the SEC to file if they choose. If an appeal goes ahead, the case might drag on for years. Although Ripple had initially said they wouldn’t appeal, experts believe they might still need to do so to avoid accepting the $125 million penalty.

Fred Rispoli, a lawyer supporting XRP, suggested that a decision on the SEC’s appeal might not come until 2026. He noted that the SEC’s lawsuits against crypto exchanges have weakened its stance, making an appeal less likely. Rispoli also predicted an 80% chance that the SEC might drop the appeal if Hester Peirce becomes SEC Chair.

Despite the uncertainty, Ripple’s Chief Legal Officer, Stuart Alderoty, remains optimistic that an appeal won’t drastically change the case’s outcome. He believes the SEC has only a 10% chance of overturning the decision through an appeal.

XRP Price Analysis
The ongoing legal uncertainty has impacted XRP’s price, which has lost all of its recent gains. Currently trading at $0.55, XRP has seen a 15% drop in trading volume over the past 24 hours. Additionally, open interest in XRP futures has decreased by 0.67%, indicating reduced interest from derivatives traders.

Ripple and the SEC will need to decide on their legal strategies in the coming months. The crypto sector is watching closely as the possibility of an appeal looms. XRP holders are eager for a resolution that could significantly affect the crypto market. The SEC has until October 6 to challenge the August 7 ruling, and the XRP community remains on edge.

@ Newshounds News™

Source:  Coinpedia

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Economist’s “News and Views” 9-5-2024

China Just Helped Russia & Iran By Ditching All US Imports!

Tech Beat:  9-5-2024

In this video, we look at a critical geopolitical situation in which China has taken a brave move by dramatically lowering its reliance on US imports. This move has an impact not only on the global economy, but it also indicates a stronger alliance with Russia and Iran.

We'll look at why China made this move, what it means for its trade policies, and the broader ramifications for international relations and economic power dynamics. As tensions between China and the United States escalate, China's new economic plans line more closely with nations such as Russia and Iran, both of whom confront their own set of issues with Western countries.

 China's shift in import preferences away from the United States not only strengthens its ties with these countries, but also creates a more united front against Western economic pressure.

 This strategic alliance might have a long-term impact on global economic patterns and political relationships. Join us as we discuss how this decision is transforming the economic landscape, what it means for the future of US-China ties, and how Russia and Iran will gain from this change.

https://www.youtube.com/watch?v=50LPGxbEAws

"End Hegemonism": 2024 China-Africa Summit Kicks Off, Counters Neocolonialism and Hegemony

Lena Petrova:  9-4-2024

https://www.youtube.com/watch?v=Oso4RQZKVv4

Recession Watch: New Data Signals Trouble - Here's What You Need to Know

Taylor Kenny:  9-5-2024

This is a big day for data from Bloomberg on the reality of where our economy is and where it is headed. They're trying to tell us we're not in a recession but what do these numbers tell you?

https://www.youtube.com/watch?v=fKzBnfxZUwA

More News, Rumors and Opinions Thursday Afternoon 9-5-2024

KTFA:

Clare:  Iraq suspends official work on September 15 on the occasion of the Prophet’s birthday

9/3/2024

An informed source reported today, Tuesday, that Prime Minister Mohammed Shia Al-Sudani decided to suspend official work on Sunday, September 15, on the occasion of the Prophet’s birthday.

The source told "Iraq Observer", "Prime Minister Mohammed Shia al-Sudani decided to suspend official work on Sunday, September 15, on the occasion of the Prophet's birthday."  LINK

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Gold Telegraph: Gold is the Bedrock of the Monetary System

Thursday, 5 September 2024

Gold Telegraph  @GoldTelegraph

BREAKING NEWS

TURKEY IS WORKING TOWARD TEAMING UP WITH CHINA TO PROCESS A DEPOSIT OF RARE EARTH ELEMENTS

Talk about awkward…

“Erdogan, Xi discussed cooperation in developing Turkey deposit…”

Source: https://www.bloomberg.com/news/articles/2024-09-03/turkey-seeks-chinese-partnership-on-rare-earth-elements-for-evs

Turkey has expressed interest in joining BRICS and is now in discussions with China about collaborating to develop a rare earth deposit within the country.

Remember I said years ago the East will leverage commodities to combat a weaponized financial system?

It is playing out.

Gold is the bedrock of the monetary system.

Elements weave the fabric that powers our world.

Many technocrats preach about first principles but dismiss and even disparage commodities, showing they don’t understand what they are discussing.

Japan is feeling the heat once again.

The Bank of Japan continues to threaten they will raise rates.

Quick reminder, the BOJ balance sheet exceeds Japan’s GDP.

We have only seen part 1 of the circus.

BREAKING NEWS

CHINA OFFERS AFRICA $51 BILLION IN FRESH FUNDING FOR MORE INFRASTRUCTURE INITIATIVES

This is significant.

 “Last year, China approved loans worth $4.61 billion to Africa, in the first annual increase since 2016…”

Source: https://www.reuters.com/world/china-deepen-industrial-agricultural-trade-investment-ties-with-africa-2024-09-05/

Russia will increase its gold purchases from 1.12 billion rubles per day to 8.2 billion rubles per day for the next month.

This is a big increase.

Wow…

Source(s):
https://x.com/GoldTelegraph_/status/1830985924462756306
https://x.com/GoldTelegraph_/status/1830987981299048462
https://x.com/GoldTelegraph_/status/1830994205889491403
https://x.com/GoldTelegraph_/status/1831147904024617015
https://x.com/GoldTelegraph_/status/1831560495683531231
https://x.com/GoldTelegraph_/status/1831563065617478106

https://dinarchronicles.com/2024/09/05/gold-telegraph-gold-is-the-bedrock-of-the-monetary-system/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  Article quote: "All the currencies Iraq will be doing business with are now in compliance with the international standards and traded on the Forex..."   With respect to that, I think it's time for everybody to sit back, relax, watch it as it happens...We're all excited.  Maintain some groundedness because I believe there's no stopping this at this stage of the game.  They have so much they're telling us...It's truly amazing...

Mnt Goat  ...One of the loose ends is the much-needed amendments to the Iraq Investment Law. They told us in an article that the WTO requested some changes to the law. In this same article, they told that this was the ONLY issue holding Iraq back from full accession... So, what pops out in the recent news. The article is titled “PARLIAMENTARY ECONOMY COMMITTEE DISCUSSES AMENDING THE “INVESTMENT LAW”. The Iraqi legislative arena is currently witnessing intensive discussions about the fourth amendment to Investment Law No. 13 of 2006, as amended, in light of the significant expansion of investment activity in the country in recent years. So we may see this law very soon. Then the WTO.

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24hrs & 19 Million OZ of SILVER Deliveries | Andy Schectman

Liberty and finance:  9-4-2024

Andy Schectman, CEO of Miles Franklin Precious Metals, highlights significant developments in the precious metals markets. Schectman discusses the massive physical deliveries of gold and silver from major exchanges like COMEX and LBMA, pointing out that these deliveries are reaching unprecedented levels, indicating serious structural deficits.

 He also notes a notable increase in countries like Turkey and India aggressively accumulating precious metals, further stressing the disconnect between physical supply and paper trading volumes.

Schectman expresses concern over the manipulation and suppression of precious metal prices by Western financial systems, and how this is incentivizing global players to withdraw physical metal from exchanges.

 He concludes by emphasizing the shift in market dynamics, with emerging economies positioning themselves advantageously by stockpiling commodities and distancing themselves from Western financial institutions.

INTERVIEW TIMELINE:

0:00 Intro

 3:34 COMEX & LBMA deliveries

 10:00 BRICS memberships

 15:08 India silver imports

21:30 Pension risk

https://www.youtube.com/watch?v=C4QfdpN5sME

“Tidbits From TNT” Thursday 9-5-2024

TNT:

Tishwash:  Saudi official: Our trade exchange with Iraq has increased fivefold in recent years

 A Saudi official said that trade exchange between the Kingdom and Iraq has increased fivefold in recent years.

A statement by the Iraqi Foreign Ministry, a copy of which was received by {Euphrates News}, stated that "the Ambassador of the Republic of Iraq to the Kingdom of Saudi Arabia, Safiya Talib Al-Suhail, visited the Saudi Export Development Authority, where she met with the CEO of the Authority, Abdul Rahman Al-Dhakir, in the presence of a number of officials. The Ambassador was accompanied by a delegation from the embassy's senior staff, in addition to the Iraqi commercial attaché in the Kingdom."

The statement added that "during the meeting, the latest developments in economic relations and trade exchange between the two countries were reviewed, in addition to the ongoing preparations for the Kingdom's participation in the Baghdad International Fair for the year 2024. Ambassador Al-Suhail stressed the Iraqi government's interest in enhancing trade exchange and cooperation in various economic and investment fields.

She also praised the Kingdom's prominent role in the Baghdad International Fair earlier this year, expressing her aspiration for a broader and more effective participation from the Kingdom in the next edition of the exhibition, reflecting the development of bilateral relations between the two brotherly countries."

The Ambassador expressed her thanks to the Kingdom for the facilities provided to Iraqi companies participating in exhibitions and trade forums in Riyadh, stressing the importance of strengthening this cooperation in the future.

For his part, Abdul Rahman Al-Dhakir expressed his satisfaction with the remarkable growth in trade exchange between the Kingdom and Iraq in recent years, which has increased fivefold, stressing “the Authority’s readiness to continue supporting and strengthening economic relations between the two countries, while seeking to benefit from successful experiences and exchange expertise between the two sides.” link

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Tishwash:  Giant screens in Baghdad to broadcast the Lions' matches in the qualifiers

Baghdad Municipality announced today, Thursday, that it has installed giant screens in 4 locations in the capital, to show the national team’s matches in the World Cup qualifiers.

The Secretariat stated in a statement :

In support of the “Yalla for the World Cup” campaign and based on the directives of the Prime Minister, the Baghdad Municipality, in cooperation with the Fourth Sports Channel, is installing a number of giant screens in (4) locations in the capital, Baghdad, for the purpose of broadcasting the matches of our national football team in the World Cup qualifiers, to serve the honorable sports audience. The Rashid Municipality will also broadcast the match via the (Baghdad Park) screen in the Al-Bayaa area. link

Tishwash:  Warning: Iraqi employees' salaries are being stolen "electronically" and parliament intervenes

Member of the Parliamentary Finance Committee, Mohammed Nouri, revealed on Wednesday the methods of stealing money from employees’ electronic cards.

Nouri told Shafaq News Agency, "The manipulation and theft of money, electronic card codes, and financial transfers are done by employees in companies and systems, not banks, considering that banks are only a financing entity and have nothing to do with the matter."

He pointed out that "there is a joint investigative committee formed between the Parliamentary Finance Committee, the Ministry of Finance and the banks in this matter after many employees and citizens were harmed by the theft of their salaries and the money deposited in the electronic card."

Nouri added, "The investigative committee is following up on the issue in coordination with the Ministry of Finance and will reach good results to determine the circumstances of the theft of employees' salaries from electronic cards issued by companies in coordination with government and private banks."link 

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Tishwash:  Central Bank: We have put foreign transfers and meeting dollar demands on sound tracks

 The Central Bank of Iraq revealed, on Wednesday, the mechanism for ending the electronic platform, while indicating that foreign transfer operations and meeting dollar demands were on sound tracks.

The bank stated in a statement received by Mawazine News, that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers, and this was an exceptional procedure as the Federal Reserve does not usually do this."

He added, "Plans were made for a gradual shift towards building direct relationships between banks in Iraq and foreign correspondent and accredited banks, mediated by an international auditing company to conduct pre-audit of transfers before they are executed by correspondent banks."

He pointed out that "during the year 2024 and until now, 95% of the transfer process from the electronic platform to the mechanism of correspondent banks directly between it and Iraqi banks has been achieved, which means that only about 5% of it remains within the platform, which will be transferred using the same mechanism before the end of this year and according to the plan. Thus, some expectations about potential impacts on the exchange rate and transfer operations are baseless, because the process will not be sudden or in one batch at the end of this year, but rather it was originally achieved during the past period with effort and careful follow-up, except for the remaining small percentage that will be completed in the coming period."

He stressed that "trade with the United Arab Emirates, Turkey, India and China represents about 70% of Iraq's foreign trade as (imports), which prompted the Central Bank of Iraq to find channels for transfer in euros, Chinese yuan, Indian rupees, and Emirati dirhams, through approved correspondent banks in those countries, and (13) Iraqi banks have actually begun conducting transfer operations with the prior audit mechanism that was agreed upon and approved in addition to transfers in dollars."

He continued, "With the provision of channels for personal transfers for legitimate purposes and external purchases through electronic payment channels, global money transfer companies, cash sales to travelers, and the payment of cash dollars for incoming transfers to the parties and purposes specified in the Central Bank's published instructions."

The Central Bank of Iraq stressed that "it has placed external transfer operations and meeting dollar demands on sound paths consistent with international practices and standards and the Anti-Money Laundering and Terrorist Financing Law."

He explained that "providing the aforementioned channels for all purposes at the official dollar price makes this price the true indicator of economic practices, which is proven by the reality of price stability and control of inflation, and any other price traded outside those channels is an abnormal price that those with unorthodox or illegal practices who move away from official channels in their dealings resort to, so they bear the additional costs of purchasing at a higher price than the official price to delude others with the difference between the official price and others."  link

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Mot: .. UH OH!!!! ------ 

Mot:  ... Close ""Earl"" - close!!!! 

Seeds of Wisdom RV and Economic Updates Thursday Morning 9-5-24

Good Morning Dinar Recaps,

ZURICH CANTONAL BANK OFFERS CRYPTO TRADING SERVICES

▪️Zurich Cantonal Bank starts offering cryptocurrency services today.

▪️ZKB customers can trade Bitcoin and Ethereum via mobile banking.

▪️Partnership with Crypto Finance ensures regulated and competent crypto services.

Bitcoin (BTC) is heading towards new lows as expected and retested $55,000 today. However, there is also good news.

The increasing institutional interest in cryptocurrencies has reached a point where banks cannot remain indifferent. In Turkey, Garanti BBVA Bank took the first step, and now one of Switzerland’s largest banks has taken action for two major cryptocurrencies.

Zurich Cantonal Bank and Crypto

For individual customers and third-party banks, Zurich Cantonal Bank has started offering cryptocurrency services as of today. 

Partnering with a company named Crypto Finance for this job, the bank will provide these services on a legal basis. Crypto Finance is managed by Deutsche Börse, which holds FINMA and Germany’s BaFIN licenses.

ZKB, one of the country’s four major banks, is also the largest cantonal bank in the Zurich region. Moreover, it is a highly reputable institution with a AAA rating from Fitch, Moody’s, and S&P. In fact, in 2023, rating agencies announced it as the second safest bank in the world.

Buying Cryptocurrency from the Bank

As of today, ZKB customers can buy and sell Bitcoin (BTC) and Ethereum (ETH) directly through the mobile banking application. For cautious investors who see centralized cryptocurrency exchanges as less secure, especially after bad examples like FTX, such alternatives will also increase liquidity inflow into the markets..

The bank’s Head of Digital Asset Solutions, Peter Hubli, said:

“With Crypto Finance by our side, we have a long-term industry-experienced, regulated, and competent partner who is familiar with the aspects of the crypto business.”

Although ZKB has taken a big step, it is not the first bank to move in this direction. In 2021, BBVA Switzerland was the first to make a name for itself. Another of the country’s four major banks, PostFinance, offered cryptocurrency services in early 2024 in partnership with Sygnum.

The increasing interest of banks and the entry of such reputable institutions into the crypto business is motivating for all investors.

@ Newshounds News™

Source:  CoinTurk News

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IMF EXPLORES HOW CBDCS CAN ADDRESS PRIVACY

Arguably, the two biggest challenges for retail central bank digital currencies (CBDCs) are whether the public sees them as useful and concerns about privacy.

Despite coverage to the contrary, central banks design most current CBDCs with good intentions. However, with many countries shifting towards more divisive politics, some worry that CBDCs designs could be tweaked.

 These concerns relate to a central bank or regulator dictating who can use the CBDC or restricting how the money can be spent. Alternatively, there are big brother snooping concerns. A recent paper by staff at the International Monetary Fund offers a thoughtful approach to the topic.

At a high level the report shows a deep appreciation of the issues. But it also delivers a practical how-to framework.

More than once they cite a 20-year-old paper that argues privacy is inherent to the nature of money. That ‘Money is Privacy’ report was in response to the growth of ecommerce, including the use of personal data to charge higher prices to some people.

 The ‘Money is Privacy’ paper even suggested some might want to use an intermediary in order to anonymize payments in the absence of anonymous money. This was before the invention of Bitcoin.

The IMF authors cite an Edelman Trust Institute study that found respondents trust businesses (63%) more than government institutions (51%). However, the research spanned 28 countries, with people putting greater trust in the government in four jurisdictions.

Apart from the collection of data, privacy risks come from external events, such as data leakages, data abuses, cyberattacks, and cross-border payments data flows.

The proposed framework adopts a three step approach:

▪️Define data use cases
▪️Identify risks to privacy
▪️Implement privacy by design and PETs (privacy enhancing technologies).

Data use cases

Personal data isn’t particularly useful for central banks. However, aggregated transaction data can be used for monetary statistics and to optimize monetary policies.

The report notes that the European Central Bank and the Bank of England have vowed not to access or use personal data for CBDC. Although it said that “other central banks (for example, the Reserve Bank of India) have emphasized the economic value of CBDC data.”

On that point, one of the purposes for collecting private information may be to provide credit scores for those that lack traditional credit histories.

The paper explores how each participant – central banks, payment service providers, merchants and consumers – might desire to access either aggregated data or private information. For consumers, the desire is to control that access.

One question is whether central banks can learn from the BigTech experience, particularly from China’s Alibaba and the associated payments app Alipay . It notes that data collection can help to expand access to credit. At the same time, it says BigTech profit incentives result in the erosion of consumer privacy.

The question is whether there is a similar risk for CBDCs with payment service providers (PSPs). “A nonbank that manages payment data is a central node in the economy that would have incentives to launch additional nonbank services or platforms tied to its central role.”

On the other hand, banks don’t combine data and there are many of them, so with banks involved in CBDC, it’s more likely to resemble the traditional payment system.

If non-bank PSPs are involved in distributing a CBDC, it could resemble the BigTech scenario if one of them is dominant. Perhaps that might include a wallet app.

For those interested in the topic, the IMF’s paper is well worth a read.

Meanwhile, in June the ECB published a blog post about making the digital euro private and we analyzed the digital euro progress on that front.

@ Newshounds News™

Source:  LedgerInsights

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SEC DELAYS DECISION ON ECO-FRIENDLY BITCOIN ETF AGAIN

▪️The SEC delayed its decision on an eco-friendly Bitcoin ETF again.

▪️This increased uncertainty among investors and caused market fluctuations.

▪️Experts believe such projects could help cryptocurrencies gain wider acceptance.

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on an eco-friendly Bitcoin ETF (Exchange Traded Fund). This situation has increased uncertainty among investors and caused fluctuations in the cryptocurrency market.

Reason for SEC’s Delay

The SEC stated that it needs more information regarding the potential impacts of the proposed ETF as the reason for the delay. The commission aims to conduct a more careful evaluation, especially considering environmental impacts.

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on an eco-friendly Bitcoin ETF (Exchange Traded Fund). This situation has increased uncertainty among investors and caused fluctuations in the cryptocurrency market.

Reason for SEC’s Delay

The SEC stated that it needs more information regarding the potential impacts of the proposed ETF as the reason for the delay. The commission aims to conduct a more careful evaluation, especially considering environmental impacts.

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on an eco-friendly Bitcoin ETF (Exchange Traded Fund). This situation has increased uncertainty among investors and caused fluctuations in the cryptocurrency market.

Reason for SEC’s Delay

The SEC stated that it needs more information regarding the potential impacts of the proposed ETF as the reason for the delay. The commission aims to conduct a more careful evaluation, especially considering environmental impacts. Access NEWSLINKER to get the latest technology news.

Features of the ETF

The proposed ETF aims to reduce Bitcoin’s energy consumption and achieve a more sustainable structure. The ETF’s goal is to support Bitcoin mining using renewable energy sources and minimize its environmental footprint.

Investors’ Reaction

Investors find the SEC’s decision uncertain and consider it a risk for the market. Particularly, investors planning to invest in eco-friendly projects are negatively affected by this delay.

The SEC is known to have postponed similar decisions before. However, in this period of increased environmental awareness, interest in eco-friendly projects has grown. Therefore, investors and markets are eagerly awaiting the SEC’s final decision.

SEC officials said, “We need to examine the environmental impacts of the proposed ETF in more detail.”

On the other hand, the growing interest in the eco-friendly Bitcoin ETF is seen as a positive sign for the future of sustainable projects in the cryptocurrency market. Experts suggest that such projects could help cryptocurrencies gain wider acceptance.

@ Newshounds News™

Source:  Cooin-Turk

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CARDANO NEWS: HOSKINSON CLARIFIES HIS ROLE AFTER CHANG HARD FORK IMPLEMENTATION

Cardano has successfully implemented the Chang hard fork, marking the commencement of the Conway era, a significant step in the blockchain’s journey toward full decentralization. 

This upgrade that occurred at block 10,764,778 on Sunday incorporated the CIP-1694 governance model, which now allows ADA holders to vote directly on the network’s decisions.

The Cardano Foundation praised the Chang hard fork as a significant event, underlining its significance for the blockchain, ecosystem, and community. “This upgrade realizes the vision of a fully autonomous and decentralized network,” the Foundation said in a blog post on September 2.

Community Debates Hoskinson’s Future Role in Cardano Development’

However, this upgrade has also created some controversy among the Cardano community regarding the future of Charles Hoskinson, the founder of Cardano. Chris-O, a known community member, proposed keeping Hoskinson and his company, Input Output Global (IOG), to fast-track the development of core Cardano functionalities. This proposal has met with both support and opposition views from the public.

SynthLuvr, the founder of Mynth Network, has a different view, stating that with Hoskinson leaving, Cardano might be better off. According to SynthLuvr, the development of Cardano may benefit from relinquishing this role and enabling the community to be at the forefront, thereby establishing Cardano as the opposite of Ethereum in terms of having a clear leader.

Hoskinson responded to the ongoing debate with a tweet, questioning the perception of his role at IOG. “I’m not involved technically? What the hell do people think that I do at IOG?” he tweeted.

The Cardano ecosystem will now operate under three key bodies: the constitutional committee, delegate representatives, and stake pool operators. 

The first phase of the hard fork introduced the constitutional committee, which governs the transition of governance. 

The second phase of the new governance structures is expected to be launched within the next 90 days and will build on the achievements of the first phase.

Hoskinson Describes Cardano as Unstoppable “Governance Virus”

In another post, Hoskinson shared his experience of working with Cardano for the past ten years and the stress of being a public representative of the blockchain industry. He pointed out that the process has been a bumpy ride, but at the same time, there were some major successes.

“Working on Cardano this past decade has been a whirlwind of emotions, challenges, and tremendous obstacles to overcome,” Hoskinson wrote. He emphasized that Cardano’s evolution has turned it into something “alive” and unstoppable.

According to Hoskinson, it is a “governance virus that is alive, replicative, and autonomic,” stating that there is no way to stop its expansion or turn it off. Cardano has not been without its controversies in the past, with critics referring to it as a ‘dead chain.’

In July, a YouTuber, Ben Armstrong, who is popularly known as BitBoy Crypto, labeled ADA as irrelevant to institutional investors. Following the Chang hard fork, ADA was trading at $0.32, showing some resilience despite a slight decline of 2.04% over the past 24 hours.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

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News, Rumors and Opinions Thursday AM 9-5-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 5 Sept. 2024

Compiled Thurs. 5 Sept. 2024 12:01 am EST by Judy Byington

Judy Note:  Dr. Charlie Ward, has always maintained that the Stock Market must crash before the Global Currency Reset would complete and Tier4b (us, the Internet Group) would receive appointments to exchange currencies. Today Wed. 4 Sept. 2024 over $1.05 trillion was wiped out from the US Stock Market, with the Dow down 500 points. Most blamed the major Stock Indexes fall on fears about health of the US economy.

~~~~~~~~~~~~~~~

Wed. 4 Sept. 2024 National Security Alert Urgency at the highest level: The Pentagon’s chilling warning:

On Tues. 3 Sept. an impending attack on US soil prompted an urgent Pentagon briefing and triggered a $1.05 trillion market crash. A Black Swan Event! National Security Alert!

Financial carnage: The $1.05 trillion market bl**dbath: As the US braced for disaster, the stock market was thrown into absolute chaos. Within hours, more than $1.05 trillion in market value was wiped out, triggering one of the most serious financial crises in history. This was not just a market crash, but a total collapse, a financial bl**dbath. Investors rushed to dump their assets, desperately trying to escape the crisis before it got worse.

The Dow, Nasdaq, and S&P 500 all plummeted, and even the biggest companies saw their stocks plummet. This was worse than in 2008. The speed and scale of the losses were staggering, and left everyone from Wall Street traders to ordinary Americans wondering how far this economic disaster would go. And the truth? This is just the first wave. The worst may still be on the horizon.

The Flight of the Elite: A Strategic Stock Sell-Off Before the Crash: The elites knew this was coming, and they acted fast. Just days before the crash, a silent but massive sell-off began. The wealthiest and most powerful figures in the financial world dumped their stocks at an alarming rate, knowing that a crash was imminent. Warren Buffett, the Oracle of Omaha, led the charge, selling $6.2 billion worth of Bank of America stock and nearly 390 million shares of Apple. He knew it, and he wasn’t alone.

Across the financial world, hedge fund giants and corporate CEOs joined the exodus, selling off assets in a desperate attempt to escape the crash. It was no coincidence. They saw what was coming and took the lead, leaving everyone else to pick up the pieces. The elites protected their fortunes while the rest of us were left to weather the storm.

~~~~~~~~~~~~

Global Currency Reset:  Rumors/Opinions

Wed. 4 Sept. 2024 MarkZ: “I am getting numerous reports that groups were being paid this afternoon.”

Wed. 4 Sept. 2024 TNT: I was told this morning (by a banker) that the Global Currency Reset has been live for over a week.

~~~~~~~~~~~~~~~

Tues. 3 Sept. 2024 Military Intel Contact, (JFK Jr.) on Telegram:  Our Military Intel Contact just said they release everything at 3pm PDT on Tues. 3 Sept. to start the shotgun release of liquidity & notifications over next 72 hours for the lower levels / tiers including 4B.

Tues. 3 Sept. 2024 Wolverine: “Jennifer said in her podcast that Payments are being made; Groups would know about their payments today; Tier4A payments are ending on Wed. 4 Sept., Thurs. 5 Sept. or Fri. 6 Sept.; Notifications for Tier4B will be this week.  … Now every single Intel provider is saying that this is our week. Once my Whale receives his notification (any time this week) all operations will be shut down immediately. Blessings, Wolverine.”

~~~~~~~~~~~~~~~~~

Global Financial Crisis:

Wed. 4 Sept. 2024: Major stock indexes are FALLING, with the Dow down 500 points today. Even MSNBC is blaming it on “fears on the health of the economy” and that “manufacturing slowed in this country in August.” The Kamala economy is hanging on by a THREAD. We’re on the verge of a MASSIVE collapse if Trump isn’t elected. https://x.com/nicksortor/status/1831046206254137825?t=_OpzEZrnUscSzdNSDXJp5g&s=19

Wed. 4 Sept. 2024, John F. Kennedy Jr. on Telegram: Over $1.05 trillion was wiped out from the US stock market today.

Wed. 4 Sept. 2024: Walgreens is trading under $9 a share and has plunged 90%+ from its all time highs. The stock has not seen these kind of levels since Feb 1996. This is one of the most stunning collapses of a former blue chip retailer in recent memory. https://x.com/TripleNetInvest/status/1831090171586154877

Wed. 4 Sept. 2024 North Korea: F*I says North Korea is trying to hack U.S. #Bitcoin ETFs to steal funds. https://www.dlnews.com/articles/markets/north-korean-hackers-eye-bitcoin-ethereum-etfs-f*i-warns/

Read full post here:  https://dinarchronicles.com/2024/09/05/restored-republic-via-a-gcr-update-as-of-september-5-2024/

**************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  Road Development Project is going to be phenomenal.  What we're going to see is the Untied States is going to be sticking around in some shape of form to protect their assets.

MarkZ   [via PDK]   I am getting many reports...that payments have started. Reports that payments are rolling out to groups... But I am staying calm because I have not been able to prove it yet. But I am looking for proof that this is accurate.  I am hearing this from many different sources….  IF this is accurate…in the next day or two-you and I should find out when we can go in and exchange our currency - IF THIS IS ACCURATE.  ...I am getting blown up with contacts saying they have let things go...I have heard this from a number of sources... STAY CALM….I am really trying to stay calm as well.

************

Overleveraged Governments Fragile Under Bad Debt with John Rubino

WTFinance:  9=4=2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back John Rubino. John was the Founder of dollarcollapse.com, author/co-author of 5 books and has a great Substack.

During our conversation we spoke about John's thoughts about the economy, interest rate cutting, another real estate credit event, similar to the 90's, milkshake theory, new standard currency, gold miners and more!

0:00 – Introduction

 0:57 - What is John seeing in the economy?

 2:46 - Interest rate cut to help?

5:15 - Another real estate credit event?

6:40 - Banks to benefit from interest rate cuts?

 9:29 - Similar to the 90’s?

12:33 - Drawn out recession or flash crash?

17:48 - Thank you!

19:08 - Milkshake theory and the dollar?

21:57 - New standard currency?

25:14 - BRICS buying gold while West sells

30:36 - Gold miners?

33:13 - One message to takeaway from our conversation?

https://www.youtube.com/watch?v=OXaHl7hhiEw

Seeds of Wisdom RV and Economic Updates Wednesday Evening 9-4-24

Good Evening Dinar Recaps,

EUROPEAN UNION ESTABLISHES COMMISSION TO REGULATE CRYPTOCURRENCY AND BLOCKCHAIN TECHNOLOGY

▪️European Union creates a commission to regulate cryptocurrencies and blockchain technology.

▪️New measures aim to reduce risks and protect investors in the crypto market.

▪️ Companies and investors have mixed reactions to the upcoming regulations.

In Europe, new steps are being taken to regulate cryptocurrencies and blockchain technology. The European Union has created a special commission to regulate and oversee this sector. The commission aims to develop policies and strategies covering crypto assets and digital finance.

New Commission’s Duties

The commission’s main duties include regulating, supervising, and monitoring the crypto assets market. Additionally, preventing the use of these assets for money laundering and terrorist financing is among their priorities.

The commission will also work on the taxation and legal frameworks of crypto assets. It is noted that there will be cooperation with companies operating in the sector during this process.

Companies’ Opinions

Many major crypto companies welcome Europe’s move. Companies emphasize that regulations are important for the long-term sustainability and reliability of the sector.

Some companies highlight that they have encountered similar regulations in the US and Asian markets and stress that this process should be carried out more carefully in Europe.

“Europe’s step to regulate crypto assets will reduce uncertainties in the sector and create a stronger ecosystem.” – President of the European Blockchain Association.

Investors’ Reactions

Investors are closely following the changes that the regulations will bring. Many investors believe that the regulations will provide transparency and trust in the sector.

However, some investors are concerned that these steps could lead to excessive regulation and restrictions in the crypto market.

When news about crypto regulations in Europe first emerged, there was great excitement and curiosity in the sector.

Similar regulatory efforts had been made before, but such a comprehensive initiative had not been implemented. Now, the European Union’s new approach to crypto assets could set an example for other global regulators in the sector.

@ Newshounds News™

Source:  Coin-Turk

~~~~~~~~~

 $450,000,000,000 SWISS BANK STARTS XRP, BITCOIN AND ETHER TRADING

▪️Zürcher Kantonalbank partners with Crypto Finance AG to launch crypto brokerage services for retail clients and third-party banks.

▪️ZKB clients can now trade Bitcoin, XRP, and Ethereum seamlessly through their mobile app, e-banking, and digital channels

Recently, Crypto Finance AG, a member of the Deutsche Börse Group, has announced a collaboration with Zürcher Kantonalbank (ZKB) to provide cryptocurrency asset brokerage services.

This agreement is a big step forward for Switzerland’s largest cantonal bank, which will debut its new crypto service on September 4, 2024. This unique tool, aimed primarily at retail consumers and third-party banks, allows a wider audience to engage with digital assets such as Bitcoin, XRP, and Ethereum.

Growing Demand for Crypto Services in Traditional Banking

The introduction of this integrated digital asset solution demonstrates the increased interest and demand for crypto services in traditional banking. It lays a solid platform for participating in the constantly increasing digital asset market.

Blockchain researcher Collin Brown emphasized the significance of this development, stating that ZKB clients may now trade Bitcoin, XRP, and Ethereum through a variety of channels, including their mobile app, e-banking, and other digital platforms.

Peter Hubli, Head of Digital Asset Solutions at ZKB, expressed his delight for the relationship, citing Crypto Finance’s “experienced, regulated, and competent” knowledge in the crypto market.

He stressed how the relationship provides industry knowledge, allowing ZKB to successfully handle the challenges of the cryptocurrency market. This statement demonstrates ZKB’s commitment to providing its clients with dependable and secure access to the digital asset area.

The successful launch of ZKB’s cryptocurrency offering reflects not only the rising integration of digital assets into traditional financial frameworks, but also Switzerland’s growing position as a global leader in digital innovation and financial technology.

As the government continues to create an atmosphere suitable to fintech growth, the collaboration between ZKB and Crypto Finance exemplifies the developing interaction between traditional banking and the crypto world. Stijn Vander Straeten, CEO of Crypto Finance AG, stated:

“We are very proud to support Switzerland’s largest Kantonalbank in the launch of their crypto offering. This is a further important milestone for the broad acceptance of crypto in Switzerland. We are excited about the opportunity to collaborate with ZKB.”

On the other hand, as we previously reported, Deutsche Bank-backed Taurus is expanding its services to the Stellar blockchain, which now offers asset tokenization and safe storage solutions.

Taurus-PROTECT, a digital asset storage solution, and Taurus-CAPITAL, a tokenization service, are now available on Stellar’s public blockchain, expanding the digital asset management options.

Furthermore, Deutsche Bank has offered Bitpanda users real-time payment solutions, allowing for frictionless deposits and withdrawals. According to CNF, Bitpanda customers in Germany may now enjoy increased convenience and security with local IBAN access, which contributes to a better overall user experience.

@ Newshounds News™

Source:  Crypto News Flash

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INDIA SURPASSES THE US AND BRAZIL IN THE SANDBOX CONTENT CREATION

▪️India leads in content creation for The Sandbox, surpassing the US and Brazil.

▪️The Sandbox's strategic focus doubled its Indian user base to 350,000.

▪️Borget remains optimistic about Web3 adoption despite the market not entering a bull phase.

India has emerged as a leading content creator source for the popular Metaverse platform, The Sandbox, surpassing the US and Brazil. According to The Sandbox co-founder Sebastien Borget, India currently has over 66,000 content creators compared to 59,989 in the US and 25,335 in Brazil.

Focused Specifically on the Indian Market

India‘s rise came after The Sandbox’s strategic focus on the Indian market, announced in December 2023, which doubled the platform’s user base in the country to 350,000. The company now aims to reach one million users in India within the next two years.

Borget attributed the rapid growth to various boot camps and educational programs conducted either directly by The Sandbox or through its joint venture in India, BharatBox, in collaboration with partners like the India-based cryptocurrency exchange CoinDCX

BharatBox was initially launched with $1 million in funding and is expected to receive an additional $200,000 by the fourth quarter of this year.

Despite The Sandbox raising $20 million with a $1 billion valuation in early 2024, Borget stated that further investment in India is unnecessary as the initiative is designed to be self-sustaining and generate its own revenue.

Borget emphasized that India is more than just a global tech workforce, highlighting the success of Blockchain projects not only in development but also in content and entertainment. For example, the sale of 1,060 avatars of characters from the popular Indian movie “Jab We Met” within two weeks of release demonstrates The Sandbox’s successful entry into India’s cinema sector.

Borget: Market Has Not Yet Entered Bull Phase

Commenting on the overall Web3 market, Borget noted increased interest due to the approval of spot-crypto exchange-traded funds (ETFs) in the US but emphasized that the market has not yet entered a bull phase.

 He pointed out that institutional money flow has not led to higher user adoption because retail investors have not heavily invested their savings in crypto. However, Borget remains optimistic about Web3 adoption with the emergence of higher-quality games and platforms like Telegram‘s distribution network.

Borget also commented on the arrest of Telegram CEO Pavel Durov in France over allegations related to illegal transactions and child abuse materials on the platform. He stressed that while privacy is a fundamental right, platforms should not remain neutral and must cooperate with authorities when used for serious crimes.

@ Newshounds News™

Source:  Coin-Turk

~~~~~~~~~

IOTA EVM HITS $5 MILLION TVL: KEY DRIVERS BEHIND ITS DEFI SUCCESS

▪️ IOTA EVM Milestone of $5 million TVL reflects the platform’s growing strength and its increasing role in the decentralized finance ecosystem.

▪️ IOTA’s unique parallel processing architecture and cross-chain compatibility are driving its rapid expansion in the DeFi space.

As per the latest data from DeFiLlama, distributed ledger technology (DLT) platform IOTA has achieved a major milestone, with the total value locked on the IOTA Ethereum Virtual Machine (EVM) surging past $5 million.

This shows that IOTA has been growing strongly, thereby becoming the preferred platform for decentralized finance (DeFi) applications. If it continues with this growth trajectory, it can become a key player in the DeFi ecosystem, reported Crypto News Flash.

IOTA’s innovative and scalable architecture has been one of the major reasons behind its significant growth in the crypto industry. Unlike other conventional blockchain networks processing transactions sequentially, IOTA’s Layer 1 network is designed with parallel structures, allowing for simultaneous transaction processing.

This horizontal scalability structure makes IOTA suitable for decentralized finance (DeFi) applications that require fast and efficient infrastructure in order to handle complex financial operations efficiently.

With the introduction of its Ethereum Virtual Machine (EVM), IOTA is making strides in the DeFi space, offering seamless compatibility with Solidity smart contracts. This feature allows developers to easily migrate existing Ethereum-based smart contracts to the IOTA network, simplifying the development of DeFi applications on the platform.

By reducing barriers to entry, IOTA is rapidly expanding its DeFi ecosystem. Furthermore, IOTA’s cross-chain compatibility enables smooth interactions with both EVM and non-EVM chains, thereby significantly enhancing its potential use cases and integration opportunities across different blockchain networks.

All organically, without any marketing or incentive campaigns (yet). Let’s keep on climbing 🧗🏔

— Dominik Schiener (@DomSchiener) September 3, 2024

IOTA Boosts Its DeFi Appeal With Fairness and Security

The features like native randomness and Miner Extractable Value (MEV) resistance ensure that IOTA remains fair and secure thereby driving a large number of users to its platform.

These mechanisms ensure that the ordering of transactions happens randomly while minimizing the risk of front-running or unfair value extraction. This helps IOTA to maintain high integrity and trust within the DeFi ecosystem.

Thus, by expanding its technological capabilities, IOTA has managed to reach the $5 million TVL milestone. Besides, its commitment to creating a scalable, fair, and secure environment is attracting new projects and increasing liquidity, solidifying its place in the competitive DeFi landscape.

With its scalable architecture, cross-chain compatibility, and dedication to fairness, IOTA is ready to become a key player in the future of decentralized finance.

The recent $5 million TVL milestone underscores the belief in IOTA’s potential as the platform continues to attract investment and innovation, positioning itself as a leader in shaping the future of finance.

Today, the EVM platform also enjoys the launch of the exclusive game IOTA Heroes, with the goal of expanding the ecosystem into new verticals, reported CNF.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble
Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Wednesday PM 9-4-2024

TNT:

Tishwash:  Al-Sudani's advisor reveals the results of the discussions between the Central Bank of Iraq and the US Federal Reserve

The Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, confirmed today, Wednesday, that the renewed understanding with the US Federal Reserve will allow the Monetary Authority to restore an internal banking market, while he indicated that the results of the discussions between the Central Bank and the Federal Reserve are good and consistent with the rules of work, and he pointed out that they will allow for the implementation of a precise path between Iraqi and international banks. 

Saleh told the official agency, which was followed by "Al-Eqtisad News": "We note from the statement of the Central Bank of Iraq that there is optimism about the results of the discussions of its delegation with the Federal Reserve in the United States of America in particular and consultation with the parties of the main banking system in the United States, specifically (the large international banks concerned with international banking operations that cross the markets), and that an advanced model of understandings has been achieved at this stage."

He added, "This came to document the path of steps and banking mechanisms adopted in foreign transfers, especially those related to financing foreign trade for the benefit of the Iraqi market and ensuring a degree of fluidity and high flexibility within the scope of foreign transfer operations and through the effective role that will be played by global correspondent banking entities that enjoy high standards in terms of the strength of compliance, disclosure and governance."

He added, "Such correspondent banking entities across the world will undoubtedly be similar to the 13 private commercial banks referred to in the statement of talks issued by the Central Bank of Iraq, which dealt with the results of the talks between the monetary authorities of Iraq and the United States of America." 

He stressed that "this will allow for the implementation of a clear and accurate path in accelerating payment and settlement operations between Iraqi banks and correspondent international banks, as well as the final beneficiary in the trade financing cycle in international trade and exchange areas that Iraq deals with by paying in different reserve currencies," noting that "in addition to the dollar as a payment and settlement currency, other international currencies such as the euro, the pound sterling, and the Chinese yuan will take over the task, down to important stable currencies such as the UAE dirham and the Indian rupee, and that the basis of this coordination with the monetary authorities in the United States comes from the fact that the source of the country's basic reserves before going to diversify with other international currencies is the US dollar itself, which is verified from the oil receipts deposited in the oil dollar currency at the Federal Reserve Bank."

He explained that, "Based on the above, such a renewed understanding according to the roadmap will provide the monetary authority in our country with a clear and highly flexible path to rebuild the domestic banking market on solid reform foundations that are consistent with the standard operating rules adopted in international banking, especially in the matter of building foreign banking relations and the safety of moving money through the global financial and banking systems."  link

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Tishwash:  Al-Mandlawi discusses bilateral relations, economic and investment opportunities with the UAE ambassador

Acting Speaker of the Council of Representatives, Mohsen Al-Mandalawi, received today, Wednesday, in his private office, the new Ambassador of the United Arab Emirates to Iraq, Abdullah Matar Al-Mazrouei, and his accompanying delegation.

During the meeting, the future of bilateral relations between the two brotherly countries were discussed, and the promising opportunities to advance them in all fields, especially at the economic and investment levels, in a way that achieves the common interests of Iraq and the Emirates, and reflects on the growth and development of the two countries and the well-being of the two dear peoples.

The Acting Speaker of the Council of Representatives congratulated Abdullah Al-Mazrouei, wishing him success in his diplomatic missions on the land of Iraq, while stressing the depth of relations that bind the two brotherly governments and peoples, and the importance of strengthening them by signing bilateral agreements in aspects that concern the two countries.  link

************

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat    ...Iraq told us all about how they fully intend to get back the “glory days of dinar” and so...Yes, simply put, they are doing it... at this point the pieces are all aligning so nicely...it’s all about implementing the Financial Reforms and then comes the Project to Delete the Zeros followed by the Reinstatement.  You can’t do one without the other... it certainly “is not all done”... the path to the reinstatement is crystal clear... you can see the writing is on the wall. I don’t say this lightly either. We are just about there...  

Militia Man  Article:  "Away from the grey list"  Article quote:  "Due to the spread of this phenomenon means the Iraqi business environment has become compliant with international standards."  They're ready to be Article VIII compliant...To be in compliance you're going to have to have an exchange rate...1310 isn't one of them... This reeks of Article VIII compliance with the IMF, knocking on the door.  I think that is powerful. 

************

Elite Hoarding Gold & Preparing For Debt Collapse | Gregory Mannarino

Liberty and Finance:  9-3-2024

Gregory Mannarino discusses the impending crisis in the debt markets, highlighting a looming correction exacerbated by the current hyperinflation of debt.

He warns that this cycle, where increasing debt demands more currency issuance, is unsustainable and destructive.

Mannarino notes that central banks and wealthy entities are hoarding gold, suggesting they anticipate a severe economic downturn that the public may not fully understand.

He also criticizes current monetary policies and political promises, arguing that they contribute to inflation and erode the financial stability of ordinary people.

Mannarino advocates for a return to constitutional money principles to address these systemic issues and calls for a major public demonstration against the Federal Reserve to raise awareness and push for change.

INTERVIEW TIMELINE:

 0:00 Intro

1:58 Economic update

 17:20 Inflation & policy inconsistencies

https://www.youtube.com/watch?v=r_ITUpG8nMk

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 9-4-24

Good Afternoon Dinar Recaps,

US CFTC Issues Order for Uniswap (UNI)

▪️CFTC issued an order for Uniswap, demanding a $175,000 fine.

▪️Uniswap allegedly violated the Commodity Exchange Act.

▪️UNI Coin price fluctuated due to regulatory uncertainties.

SEC, known for its aggressive lawsuits regarding cryptocurrencies, is not the only regulatory body in America. CFTC also takes action by detecting violations in the futures market. Just now, the institution issued an order for Uniswap, demanding a $175,000 fine and cessation of the violation.

Uniswap (UNI) and CFTC

Uniswap, one of the largest DeFi platforms, is currently supported by Uniswap Labs. According to the CFTC, the DeFi platform allows leveraged trading without permission, violating regulations. 

Therefore, it must pay a $175,000 fine and cease violating the Commodity Exchange Act (CEA).

CFTC Enforcement Director Ian McGinley said:

“Today’s action once again shows that the Enforcement Division will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve. DeFi platforms must ensure their services comply with the law.”

The UNI Coin price fell below $6.2 and then returned to $6.45. Uncertainty about compliance and whether US citizens will be restricted from accessing the protocol may increase volatility in the coming hours.

@ Newshounds News™

Source:  Coin-Turk

~~~~~~~~~

BRICS NEWS: BLOCKCHAIN PAYMENT SYSTEM SET FOR OCTOBER ANNOUNCEMENT—POTENTIAL XRP INTEGRATION HIGHLIGHTED

▪️ BRICS Pay platform to launch at the 2024 BRICS Summit aims to reduce reliance on the U.S. dollar in global finance.

▪️The platform could challenge Western financial systems like SWIFT.

The BRICS economic alliance is gearing up for its 2024 Annual Summit, where the much-anticipated BRICS Pay platform, a payment system based on blockchain, is expected to take center stage. The platform was unveiled earlier this year. It is likely to threaten the current financial order and promote the group’s de-dollarization policy.

BRICS Pay is a new payment system using blockchain technology. It is intended to help the BRICS countries minimize their reliance on the US dollar in international trade.

Additionally, the platform will intend to enable efficient interactions among member countries and may provide a solution to the US-dominated SWIFT payment system.

Russia Pushes for Cryptocurrency and Blockchain Solutions

The system’s development also coincides with the increasing tension between Russia and the West, especially regarding sanctions and financial measures.

Consequently, Russia has paid more attention to cryptocurrencies and blockchain technology. The BRICS Pay platform is integral to this approach as it can facilitate the use of local currencies and strengthen the economic relations between the BRICS countries and their partners.

The BRICS Pay is in line with the bloc’s objective of decreasing the use of the US dollar in international trade and finance. The data from the Atlantic Council’s Dollar Dominance Monitor shows that the dollar’s global reserve status declined to 58 % in 2024 from 72% in 2002. This decline underlines the continuing process of de-dollarisation, which BRICS Pay predicts will strengthen.

Yury Ushakov, an assistant to the Russian president, told the state media how important the BRICS Pay project is for the future. The platform will use digital and blockchain technologies to establish a reliable and effective payment system to facilitate the bloc’s economic agenda.

The platform’s potential extends beyond the BRICS countries, as other Global South nations could use it as a reference to reduce their dependence on the US dollar and strengthen their national currencies.

This means that BRICS Pay can also provide much-needed competition to the SWIFT system and also promote the economic cohesion of the developing world.

Platform Extends Influence Beyond BRICS Nations

The planned launch of BRICS Pay at the 2024 Summit has major strategic implications.

 It is a milestone toward the financial emancipation of the BRICS and other emerging economies from the current global order. As a blockchain solution for transactions, BRICS Pay can challenge Western financial organizations and enhance the role of BRICS countries in the world.

Furthermore, the platform’s development correlates with Russia’s current interest in cryptocurrencies and digital currencies. Russia recently revealed plans to create two crypto exchanges, and stablecoins pegged to the Chinese yuan and other BRICS currencies. 

Notably, Turkish President Recep Tayyip Erdogan will be attending the BRICS summit in Kazan, Russia, from October 22 to October 24. Turkey’s interest in BRICS aligns with its broader foreign policy strategy, which aims to balance relations between the East and West.

@ Newshounds News™

Source:  Crypto News Flash

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SPREADING USD-PEGGED STABLECOINS—TRUMP-BACKED DEFI PROJECT REVEALS ‘TRANSFORMATIVE’ PLANS

Over the past few weeks, there’s been a buzz of intrigue and speculation around World Liberty Financial, a decentralized finance (defi) project led by Eric Trump and Donald Trump Jr. After facing some rumors and critiques, the project’s X account finally released fresh details about its mission, aiming to clear the air.

World Liberty Financial Defends Mission and Security After Facing Scrutiny

World Liberty Financial (WLF), a decentralized finance (defi) project associated with Eric Trump and Donald Trump Jr., recently released new information about its plans.

The project, shrouded in speculation, was called a “digital real estate” venture by Eric Trump during an interview, the son of former President and 2024 Republican candidate Donald Trump.

In its latest announcement, WLF emphasized its partnership with several prominent security firms, including Zokyo, Fuzzland, and Peckshield, to ensure the safety of its platform.

While WLF claims to differentiate itself from other projects by collaborating with the decentralized finance (defi) protocol Aave, rather than forking it, details about the project’s specifics still remain scarce. 

The project’s messaging focuses on advancing the mass adoption of stablecoins pegged to the U.S. dollar.

The team behind WLF asserts that their project is critical to maintaining the U.S. dollar’s global dominance, particularly as rival countries seek alternatives to the currency.

“By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” the WLF X account stated.

However, despite these ambitions, skepticism persists. There’s been a number of people who believe the project may fall prey to hackers and some think WLF is just going to launch its own WLF crypto coin. Bitcoin proponent Nic Carter asked on X if there was something that the crypto community could collectively do to “stop the launch of world liberty coin.”

Carter added, “I think it genuinely damages Trump’s electoral prospects, especially if it gets hacked (it’ll be the juiciest defi target ever and it’s forked from a protocol that itself was hacked). However, the WLF project’s organizers wholeheartedly believe that WLF’s impact will soon be clear.

“To those who are skeptical or listening to the noise: our plan will speak for itself,” WLF’s thread concluded. “The brightest minds in crypto are backing us, and what’s coming will make all doubters think twice.”

What do you think about the Trump-associated defi project WLF? Share your thoughts and opinions about this subject in the comments section below.

@ Newshounds News™

Source:  Bitcpin News

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Source:  Currency Facts

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