Seeds of Wisdom RV and Economic Updates Sunday Afternoon 8-18-24
Good Afternoon Dinar Recaps,
Colorado Church group tokenizes $2.5M chapel
This may be the first tokenized church in the world.YEP
A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building.
The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.
Tokenize the building
According to a report from Forbes, Bush’s congregation and other church groups had been renting the building from its owner, a local businessperson who also owns a car dealership.
The 11,457-square-foot building, called “Old Stone Church” due to its stone exterior, was purchased by its current owner in 2022 at a cost of $2.2 million. Reportedly, Bush and the Colorado House of Prayer group intend to purchase the building for $2.5 million
Bush says he came up with the idea of tokenizing the building — putting it on the blockchain as a digital asset that can be split into shares — after a spiritual experience.
“I heard the Lord say, ‘tokenize the building,'" Bush told Forbes, later adding that he had been “praying for this for years” and that God had told him to “go get my house.”
Blockchain and real estate
In order to accomplish his holy mission, Bush and the group created “Stone Coin,” a digital asset used to raise money for the purchase of Old Stone Church. The coin is tied to a real estate token created by REtokens and running on the Polymesh private blockchain.
Like any tokenization project, the results will depend on the amount of positive token-flow and reactive value. The project is reportedly seeking investors after having raised about half of its goal.
In the future the token’s board, which includes Bush and other religious leaders as well as the mayor of a nearby town, plans to open up token sales to non-parishioners. While this could potentially put the digital asset ownership at risk of an outsider takeover, Bush doesn’t appear to be too concerned about that.
When presented with the notion that, for example, Satanists could end up making a run on the church’s tokens, Bush quipped that he’d be grateful, “let’s introduce you to Jesus.”
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
“How does the ILP have global scalability?”
Because it is based on the internet.🎯 The internet is technology that is already global, has unlimited volume, and unlimited scalability.. And can reach any Human with an internet connection.💯
Now, overlay the internet with the ILP, and you have an international payments routing system that finds that most efficient route online to facilitate transactions between payment systems.
Powered by the XRPL🧩
Ripple’s solution is a hybrid solution that combines the ILP and the XRPL, as illustrated below as well.✅
@ Newshounds News™
Source: SMQKE (@SMQKEQG) on X , Nth Exception
☝️☝️☝️ THIS IS THE QFS ☝️☝️☝️
~~~~~~~~~
Newly Released Map Illustrates XRP’s Role as a Future World Reserve and Bridge Currency
▪️ XRP may play a top role in bridging different countries’ CBDC in a possible global monetary reset.
▪️The cryptocurrency is best suited for this purpose owing to its cross-border settlement capabilities.
XRP will likely serve as a world reserve and bridge currency in the future. Per a recently published Map, this proposition comes amid heightened discussions of a potential restructuring of the international monetary system.
XRP’s Role as Global Reserve and Bridge Currency
Crypto enthusiast Edward Farina highlighted the map in a post on the social media platform X. The map describes how coins like XRP can serve as a global reserve asset, with gold as an essential anchor.
As a result, it challenges the long-running discussion surrounding gold as the cornerstone of a stable monetary system.
A map presents how $XRP could act as a World Reserve Currency and Bridge Currency 🔥
See Twitter Link Below for entire map
Gold has historically been seen as a reliable store of value and a hedge against inflation. However, its role in modern finance is increasingly being viewed through the lens of digital transformation.
The map outlines a tiered structure for global currencies. At the top of the rank is the SDR, an international reserve asset developed by the International Monetary Fund (IMF). Next on the rank are Tier 1 currencies, which may include the U.S. Dollar, Euro, Japanese Yen, and others from top nations.
Beneath these are Tier 2 assets encompassing Central Bank Digital Currencies (CBDCs). These assets would be connected to the currencies of different countries and issued by their central banks.
This means bridge currencies like XRP can facilitate conversions and transactions between these government-backed digital currencies, allowing them to interact seamlessly across national boundaries.
The map implies that XRP could help speed up the conversion of other CBDCs. This expectation is based on the digital asset’s ability to provide liquidity and reduce friction in international transactions.
XRP’s role as a bridge currency was accelerated during COVID-19 due to difficulties in making cross-border payments. At the time, Ripple’s head of global banking, Marjan Delatinne, said XRP is well positioned to bridge multiple or different CBDCs.
XRP’s role as a bridge currency is crucial due to the multiple digital currencies that are used globally. XRP can help ensure interoperability between these digital currencies for efficient global commerce.
@ Newshounds News™
Read More: Crypto News Flash , Twitter
~~~~~~~~~
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