Good Morning Dinar Recaps,

DBS BANK PILOTS BLOCKCHAIN-BASED GOVERNMENT GRANTS

The blockchain-based solution builds on DBS Bank’s participation in Project Orchid, an effort by the Monetary Authority of Singapore to test the benefits of tokenization.

Singapore’s DBS Bank launched a solution that uses blockchain technology to streamline the disbursement of government grants.

DBS Bank announced that in the pilot, it collaborated with Enterprise Singapore (ESG), a statutory board under the Ministry of Trade and Industry of the Government of Singapore and the Singapore Fintech Association (SFA), which promotes financial technology in the country.

Good Afternoon Dinar Recaps,

CARDANO DELAYS CHANG HARD FORK TO SEPTEMBER

Cardano delays its Chang hard fork to September 1, ensuring full ecosystem readiness, while exploring a potential groundbreaking AI partnership with Algorand.

Cardano has postponed its much-anticipated Chang hard fork to September 1, moving the date from August 27. 

This delay allows more time for exchanges and decentralized applications (DApps) to prepare. The decision, announced on August 23 by Intersect, a Cardano membership organization, ensures the ecosystem is fully ready for this crucial upgrade.

The Chang hard fork is a critical milestone in Cardano's journey toward the Voltaire era, which will bring enhanced community governance and smart contract capabilities. The delay emphasizes the importance of being fully prepared to avoid any disruptions during this major transition.

Good Morning Dinar Recaps,

SWISS NATIONAL BANK announces launch of instant payments in Switzerland

The Swiss National Bank (SNB) has announced the market launch of instant payments in Switzerland.

The introduction of instant payments has been enabled by a technical framework established in November 2023 in partnership with SIX Interbank Clearing.

Around 60 Swiss financial institutions can now receive and process instant payments, encompassing more than 95% of Swiss retail payment transactions.

The SNB says that some institutions have “already launched retail offerings enabling customers to send instant payments”, with more banks expected to announce similar services “in the coming months”.

Good Afternoon Dinar Recaps,

Fed Chair Jerome Powell: Time Has Come for Policy to Adjust

Bitcoin rose in the immediate aftermath of his remarks at the Fed's Jackson Hole conference.

As expected, Jerome Powell indicated that a rate cut is coming in September

Bitcoin and traditional markets at least initially have moved sharply higher
Investors will now focus on whether the initial rate cut will be 25 or 50 basis points

After a long wait, central bank rates in the U.S. now appear certain to be headed lower in September after Jerome Powell said the "time has come" for an easing in monetary policy.

Good Morning Dinar Recaps,

LIVE: Fed Chair Jerome Powell speaks at the 2024 Jackson Hole Economic Policy Symposium — 8/23/2024 AT 10:00 AM EDT

Federal Reserve Chair Jerome Powell speaks at the central bank’s annual Jackson Hole conference on the economic outlook on Friday. That will follow minutes from the Fed’s July gathering released Wednesday. They indicated that most participants at the central bank’s meeting said it would “likely” be appropriate to lower the fed funds rate from the current range of 5.25% to 5.5% at the September meeting — if data continues to come in as expected.

@ Newshounds News™

Watch Live Here: BENZINGA

Good Evening Dinar Recaps,

El Salvador launches Bitcoin training for 80,000 public servants

Over the years, El Salvador has stepped up efforts to integrate Bitcoin into its educational system.

El Salvador’s National Bitcoin Office (ONBTC) has launched a Bitcoin training and certification program for 80,000 public servants.

In an Aug. 20 statement, ONBTC confirmed that Bitcoin education is now a vital component of a governance initiative designed for public sector employees.

 This program is part of the Higher School of Innovation in Public Administration (ESIAP), established by President Nayib Bukele in 2021 to elevate governance standards.

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IOTA Foundation a Winner in EBSI PCP, Demonstrating Scalability and Sustainability

The IOTA Foundation has successfully completed the final phase of the European Blockchain PCP, developing a scalable, energy-efficient, and secure blockchain solution using its Tangle technology.

As part of the European Blockchain PCP, IOTA created prototypes such as Digital Product Passports for electronics and plastics and an Intellectual Property Rights (IPR) Marketplace.

The IOTA Foundation recently announced that it has successfully completed the third and final phase of the European Blockchain Pre-Commercial Procurement (PCP), a big initiative funded by the European Commission. IOTA was one of the seven projects to participate in the European Blockchain PCP which began back in 2020.

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IOTA Foundation Develops 3 Innovative Solutions for EU_EBSI Funded by European Commission

▪️The IOTA Foundation has introduced three groundbreaking products in collaboration with the European Commission to enhance transparency across various sectors by utilizing blockchain technology.

▪️The new tools include a Digital Product Passport for electronics, a Digital Product Passport for plastics, and an Intellectual Property Rights (IPR) management solution.

Good Evening Dinar Recaps,

Ripple Important Level of Contact with IMF Revealed in Fresh Palau Report

A recently released report on Palau’s National Government Payment Service has revealed a significant level of contact between Ripple and the International Monetary Fund (IMF).

Prominent XRP community member WrathofKahneman (WoK) unearthed this observation and highlighted it in a recent post on X.

Notably, the report from Palau highlighted the successful completion of Phase 2a of the country’s digital payment initiative. For context, this initiative focuses on developing a stablecoin service, “PSC.” Palau is carrying out this project in collaboration with Ripple, utilizing the XRP Ledger (XRPL).

Good Afternoon Dinar Recaps,

Bank of England to develop analytics data platform for ISO 20022

The Bank of England is working with the BIS Innovation Hub London centre on a project that will explore how technology can enhance the analytical use of ISO 20022 data to shed light on economic conditions, system liquidity and compliance.

The increased use of ISO 20022 standards for payment messages in Real Time Gross Settlement (RTGS) systems means many central banks will adopt the protocol in the coming years. The UK's high value payments system Chaps completed the cutover to the new data standard in June last year.

Project Keystone aims to develop a standardised data analytics platform focused on ISO 20022 data. As part of the project, two modules will be developed.