Goldilocks' Comments and Global Economic News Monday Evening 11-27-23
Goldilocks' Comments and Global Economic News Monday Evening 11-27-23
Good Evening Dinar Recaps,
"Al-Kazimi added that “we expect that the new year will witness a significant decline in dollar prices with the appreciation of the value of the Iraqi dinar, especially with the presence of government decisions and directives to address all the causes of the dollar crisis, and we expect that economic and financial stability will be strongly present at the beginning of next year.”
We have two things going on in Iraq that are currently raising my eyebrows and causing dimples to form on each side of my cheeks from smiling. Iraq is currently in process of reducing the gap disparity between the Dollar and the Iraqi Dinar. This is expected to be completed by the end of the year.
Closing the disparity between the Dollar and the Dinar will help move Iraq's currency into a real value and financial stability capable of allowing them to do cross-border International trades. This is taking place through the UPI or Unified Payments Interface on India's platform early January 2024.
Al Kazimi went on to say that Iraq expects to witness the decline of the Dollar's value as the Iraqi Dinar begins to increase its value.
Just be aware, this is a process and change still may come slowly until Protocol 20 digitizes and upgrades all our assets including currencies onto the new QFS.
This upgrade will allow Quantum Technologies to network and connect with one another producing real values upon trades beginning to happen with local currencies around the world instead of the dollar.
This is why it is important to "watch the water" as exchange rates are interfaced onto the new digital mechanisms utilized in shipping ports.
Protocol 20 is still set for January the 30th, 2024.
© Goldilocks
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Circle, the company behind the second-largest dollar-pegged cryptocurrency by market capitalization, has announced the launch of a new token standard for their stablecoin.
The standard is called the Bridged USDC Standard, and it introduces a new process for deploying a bridged form of USDC on Ethereum Virtual Machine (EVM) blockchains.
Circle claims that the standard for bridged USDC is permissionless, equitable, standardized, extensible, secure, and audited.
https://cryptogazette.com/circle-launched-new-bridged-usdc-standard/
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Jeremy Allaire, Circle’s Founder and Chief Executive Officer, has announced that CCTP will soon go live on Noble. CCTP, an acronym for Cross-Chain Transfer Protocol, has chosen the asset-issuance chain on Cosmos to pave the way for getting natively wired into dYdX on their app chain on Cosmos.
Members of the selected network can directly move their USDC into dYdX. While Solana is expected to join the list soon, members of Avalanche, Ethereum, Base, Arbitrum, Cosmos, and Optimism are not required to bridge or wrap their USDC holdings before moving them across dYdX. This makes the process efficient, economical, and safer.
dYdX has been chosen because it is a bigger protocol capable of setting a new benchmark when the market pendulums between decentralized exchange and centralized exchange. Transparency and risk management as a DeFi protocol are at the core of its operation.
CCTP going live on Noble marks the step toward unlocking the next wave of on-chain usage. This is poised to become a more user-friendly environment as the value and development progress. Interestingly, a lot of elements are merging for this innovation. This includes combining wallets, bridges, aggregators, and messaging layers. Not to forget, several blockchain networks are joining hands with CCTP and Noble to ensure the technical and user experience innovation continues across the blockchain networks.
Jeremy has said that Circle is looking to accelerate mass adoption in the next 2 years, that is, in 2024/2025.
https://www.coinnewsspan.com/cctp-to-go-live-on-noble/
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Bullion Banks Worried As Gold Breaks Above $2,000 And Silver Approaches $25
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Will BRICS currency be backed by crypto or gold?
The BRICS nations are considering introducing a new currency at their 2024 summit, with debate over whether it will be a digital asset or gold-backed.
The choice between a gold-backed currency and a digital one using blockchain technology reflects the bloc’s ambition to challenge traditional financial systems.
A digital BRICS currency could modernize cross-border transactions, while a gold-backed option offers stability and reliability amid global economic uncertainty.
https://www.cryptopolitan.com/will-brics-currency-be-backed-by-crypto-gold/
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Bonds build liquidity for a Government. Are we running out?
© Goldilocks
WSJ Link
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64 US Bank Branches File to Shut Down in a Single Week—Are You Affected? | NTD
https://www.ntd.com/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected_956756.html
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"SBI Holdings, Inc. located in Tokyo has officially entered into a Memorandum of Understanding (MOU) with Circle Internet Financial, which has headquarters in Boston, Massachusetts. This collaboration aims to facilitate the circulation of USDC stablecoins, establish a banking relationship, and promote the use of Circle's Web3 Services within Japan."
This is a very important article in that we are being told that boosting banking relations using USDC as a Stablecoin is underway.
This will begin solidifying the USDC as a Stablecoin and as a viable digital banking asset to be used in the trading of assets between Banks in Japan and the US and beyond.
Institution money tends to support projects with billions and trillions of dollars when it is ready to move out into an International platform.
© Goldilocks
https://cointelegraph.com/news/circle-sbi-holdings-partner-mou-boost-usdc-circulation-japan
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