Seeds of Wisdom RV and Economic Updates Wednesday Morning 10-30-24

Good Morning Dinar Recaps,

HBAR ADOPTION EXPANDS AS DUBAI LAUNCHES DIGITAL WILL SOLUTION ON HEDERA

▪️Unlike traditional wills that manage physical assets, the DIFC Courts have chosen Hedera for its reliability, security, speed, and trust, ensuring a transparent process.

▪️This initiative underscores Dubai’s strategic approach to establishing a sustainable digital asset infrastructure and regulatory framework.

The Dubai International Financial Centre (DIFC) announced its integration of Hedera’s Hashgraph technology which will power a new Digital Asset Will inheritance solution.

This initiative is distinct from the traditional FinTech focuses like tokenized assets and payments. Thus, it marks a unique application of distributed ledger technology (DLT) in estate planning, especially for digital asset inheritance.

Managing digital assets in inheritance is a new challenge, unlike conventional wills that distribute stocks, cash, and gold. As a result, the DIFC Courts have chosen Hedera’s technology for its reliability, security, speed, and, most importantly, trust. 

Moreover, the governing council of Hedera provides the DIFC and beneficiaries a complete peace of mind via a trusted, transparent process.

Some of the key features of Hedera like the Hedera Consensus Service (HCS), have played a crucial role in offering audit trails at every step along with accuracy. 

This helps to ensure the correct management of inheritances. For example, HCS’s real-time audit logs prevent mistakes in transferring assets, safeguarding beneficiaries from potential delays or errors.

The DIFC’s move highlights Dubai’s forward-thinking strategy in building sustainable digital asset infrastructure and regulation, setting a standard for digital asset planning. This collaboration is a win for both Hedera as a DLT leader and Dubai’s vision for long-term, responsible digital asset growth.

Key Developments in the Hedera Ecosystem
The Hedera ecosystem is currently seeing strong growth as several industry players are willing to transition to blockchain tech and prefer Hedera for its transparent governance and trust. 

Earlier this month, investment firm Canary Capital announced the launch of the first HBAR Trust in the United States, reported CNF. This fueled further speculation around the potential introduction of a Hedera-focused Exchange-Traded Fund (ETF).

The Canary HBAR Trust will provide safe access for investors to crypt+ocurrency HBAR while opening the gates for institutional participation in the crypto. Steven McClurg, CEO of Canary Capital, highlighted that the HBAR Trust is designed to provide U.S. institutional investors with new opportunities to tap into the growing demand for crypto-related products.

On the other hand, Prove AI recently launched its artificial intelligence product on the Hedera blockchain allowing businesses to securely manage their AI training data while ensuring compliance by using Hedera’s secure and scalable infrastructure.

Furthermore, Hedera will also provide governance solutions for businesses interacting with AI regulations and development, reported CNF.

In other news, Karate Combat, the world’s premier professional strike league, has announced the upcoming launch of its Layer-2 platform on the Hedera blockchain. Named “UP,” this Layer-2 blockchain and crypto-native software licensing platform is set to go live in Q1 2025, aiming to propel Web3 adoption across esports, sports, and entertainment sectors, reported CNF.

@ Newshounds News™

Source:  Crypto News Flash

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COINBASE BRINGS REAL-TIME DEPOSITS VIA DEBIT CARDS BY PARTNERING WITH VISA

Coinbase users can now fund their accounts in real-time with eligible Visa debit cards, thanks to a new integration with the Visa Direct network.

Coinbase users in the U.S. and Europe can now deposit funds to their accounts with an eligible Visa debit card, following a new partnership with Visa. In an Oct. 29 press release, Visa said the integration allows Coinbase customers to deposit funds in real-time, offering flexibility for those looking to respond quickly to crypto market movements.

The feature aims to streamline access to trading funds by reducing wait times traditionally associated with crypto funding. The Visa Direct network facilitates immediate deposits, enabling users to top up accounts or make crypto purchases almost instantly. Visa debit cardholders can also cash out to their bank accounts in real time, minimizing delays across all major transactions on the platform.

“Providing real-time account funding using Visa Direct and an eligible Visa debit card means that those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night,” said Yanilsa Gonzalez Ore, head of Visa Direct, North America for Visa

This latest partnership marks another step in Visa’s expanding role in the crypto market, building on the company’s recent introduction of a blockchain platform for banks to manage fiat-backed tokens.

Earlier in October, Visa launched the Visa Tokenized Asset Platform, a network enabling financial institutions to mint, burn, and transfer fiat-backed tokens, including stablecoins. BBVA, the Spanish banking giant, became the platform’s first client, with plans to trial the technology on the public Ethereum blockchain starting in 2025.

@ Newshounds News™

Source:  Crypto News

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🌱ZIMBABWE DITCHES U.S. DOLLAR FOR GOLD-BACKED CURRENCY. WHAT DOES IT MEAN?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Tidbits From TNT” Wednesday Morning 10-30-2024

TNT:

Tishwash:  Rafidain Bank studies establishing an electronic platform for trading government bonds

Rafidain Bank confirmed, today, Wednesday, the establishment of an electronic platform for trading government bonds.

The bank stated in a statement received by Al-Maalouma Agency that it “will sponsor an expanded meeting in cooperation with the Securities Commission and the Iraq Stock Exchange to discuss launching an electronic platform for trading government bonds.”

He pointed out that "the meeting will be sponsored by the Minister of Finance and the Governor of the Central Bank of Iraq."  link

Tishwash:  The Central Bank republishes controls for declaring funds and bringing them in or out of Iraq

Today, Tuesday (October 29, 2024), the Central Bank of Iraq republished the controls for declaring funds, while indicating that it allows the entry or exit of amounts less than $10,000.

The bank said, according to a statement received by "Baghdad Today", that "in order to reduce the risks of bringing in and out money across the Iraqi borders and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029 (amended Controls No. 1 of 2017), the following must be adhered to:

1. It is permitted to bring in or take out amounts less than (10,000) dollars (ten thousand US dollars) or its equivalent in other currencies without declaring them.

2. It is permitted to bring in or take out amounts exceeding (10,000) dollars (ten thousand US dollars) to 20,000 dollars (twenty thousand US dollars) provided that they are declared, with the necessity of presenting evidence supporting the purpose of bringing in or taking out these amounts. In the event that supporting documents are not available, the traveler must submit a pledge to bring these documents after (30) days from the date of declaration.

3. It is prohibited to bring in or take out amounts exceeding (20,000) dollars (twenty thousand US dollars) or its equivalent in other currencies, and the process of bringing in or taking out these amounts shall be exclusively through financial institutions.

4. It is prohibited to bring in or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) even if they are declared, and the amount will be seized and legal measures will be taken against it. 5. Declaration of precious stones and metals if their value exceeds (10,000) ten thousand US dollars. 6. Declaration of financial instruments that are negotiable to bearer or are transferred inside or outside Iraq by a person, postal service, shipping service or any other means and whose value exceeds (1,0000) ten thousand US dollars  link 

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Tishwash:  The Dinar Under Siege: How Do Smuggling Mafias Strike the Cash Reserve?

Reports indicate a worrying increase in the activity of currency smuggling mafias in Iraq, which has raised widespread questions about the serious repercussions of this activity on the Iraqi economy.

Such operations that aim to transfer money abroad illegally lead to huge losses in the cash reserve and affect the state’s ability to finance basic needs, and contribute to the exacerbation of inflation and the deterioration of the value of the Iraqi dinar.

One economic analysis states that: “Currency smuggling operations weaken Iraq’s foreign exchange reserves, increasing the country’s inability to meet its basic import needs, and leading to a deterioration in the balance of payments. This illegal outflow of funds not only leads to weak domestic investment, but also creates an unstable economic environment, raising concerns among foreign and local investors alike.”

Another aspect of the negative effects of these operations appears in the financing of illegal activities such as drug trafficking and support for armed groups, indicating that currency smuggling is not only an economic issue, but a security problem that affects the stability of Iraq more deeply.

The various methods used to smuggle money include foreign imports that take place outside the official platform of the Central Bank, which is a violation of the laws and increases chaos in the market.

Reports indicate that some parties are deliberately seeking to weaken the national currency by raising the price of the dollar in an exaggerated manner, which raises questions about the possibility of internal parties colluding with smuggling networks to increase their profits at the expense of the national economy.

Expert Mohammed Al-Kubaisi explains that currency smuggling mafias exploit political and economic crises to increase their activities, taking advantage of weak government oversight and financial turmoil to achieve huge profits.

The problem seems to go beyond the economy to include deeper issues related to weak legislation and government control, which is prompting some analysts to call on the government to take strict measures, including imposing strict controls on financial transactions and setting policies that encourage local investment to limit the flow of money abroad.  link

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Lilfish:  IMF Touts US Economy the Growth Engine of the World

WASHINGTON, Oct 22 (Reuters) - The U.S. economy will continue to provide most of the thrust for global growth through the balance of this year and in 2025, led by robust consumer spending that has held up through a wrenching bout of inflation and the high interest rates used to tame it, the International Monetary Fund said on Tuesday.

In its latest World Economic Outlook, the IMF raised its 2024 and 2025 economic growth forecasts for the U.S. - the only developed economy to see its outlook marked up for both years - and its chief economist said the "soft landing" sought by the Federal Reserve in which inflation eases without big damage to the job market had largely been achieved.

Emerging market powerhouses India and Brazil also stood out on the upside of the IMF forecasts, while it dialed back growth expectations for China for this year and left next year's forecast for the world's No. 2 economy at a below-trend 4.5%.

Still, it warned that risks abound from armed conflicts, potential new trade wars and the hangover from the tight monetary policy employed by the Fed and other central banks to rein in inflation.

"Today, the IMF reported that the United States is leading the advanced economies on growth for the second year in a row," Lael Brainard, the director of the White House's National Economic Council, said in a statement.

The IMF's latest World Economic Outlook said the shifts will leave 2024 global GDP growth unchanged from the 3.2% projected by the global lender in July, setting a lackluster tone for growth as world finance leaders gather in Washington this week for the IMF and World Bank annual meetings.

Global growth is projected to be 3.2% in 2025, one-tenth of a percentage point lower than forecast in July, while medium-term growth is expected to fade to a "mediocre" 3.1% in five years, well below its pre-pandemic trend, the report showed.

Nonetheless, the IMF's chief economist, Pierre-Olivier Gourinchas, said some countries, including the U.S., were showing resilience.

"The news on the U.S. is very good in a sense," Gourinchas said at a press conference in Washington. "The labor market picture remains one that is fairly robust, even though it has cooled off."

"I think the risks of a recession in the U.S. in the absence of a very sharp shock would be somewhat diminished," he said.

Although Gourinchas said it looked as if the global inflation battle had largely been won, he told Reuters in an interview there is a risk that monetary policy could "mechanically" become too tight without interest rate cuts in some countries as inflation subsides, weighing on growth and jobs.

CONSUMER STRENGTH

The IMF revised its 2024 U.S. growth forecast upward by two-tenths of a percentage point to 2.8% due largely to stronger-than-expected consumption fueled by rising wages and asset prices. The global lender also upgraded its 2025 U.S. growth outlook by three-tenths of a percentage point to 2.2%, slightly delaying a return to trend growth.

https://www.reuters.com/markets/us/imf-lifts-us-growth-forecast-marks-down-china-sees-lackluster-global-economy-2024-10-22/

Mot:  . Poor ole ""earl"" -- He Trys... LOL 

Mot:  they Say that -

Seeds of Wisdom RV and Economic Updates Tuesday Evening 10-29-24

Good Evening Dinar Recaps,

US TREASURY STRATEGY FOR FINANCIAL INCLUSION MENTIONS DIGITAL ASSETS

The United States Department of the Treasury has released its national strategy for financial inclusion, only including cryptocurrencies as a potential risk for consumers.

In an Oct. 29 notice, the US Treasury said its National Strategy for Financial Inclusion in the United States report resulted from a request from Congress and included recommendations to “advance consumer access to safe financial products and services and strengthen financial security.”

According to the department, one of its methods of financial inclusion was through research of a “series of publications on consumer activities and risks related to digital assets,” citing a September 2022 report.

According to the US Treasury, the national strategy recommended increasing access to “safe and affordable credit,” improving the inclusivity of financial services and products from the government, and “protecting consumers from illegal and predatory practices.”

National Economic Advisor Lael Brainard credited Vice President Kamala Harris with helping expand “access to capital, credit, and economic opportunity.”

The strategy by the government department suggested that it would not be considering cryptocurrencies like Bitcoin as a means of financial inclusion in the United States. 

Though many digital asset advocates recognize the potential risk of crypto investments, the technology has often been touted as a way to level the playing field for individuals who may not always have access to traditional banking.

US election could affect crypto policy in 2025
It’s unclear if Vice President Harris would consider this strategy if she were victorious over Republican Donald Trump in the US election in November. The Democratic candidate has suggested she would support the industry if elected but still expressed concerns over consumer protection.

During his administration, US President Joe Biden issued an executive order establishing a framework for digital assets and instructing government departments to study the ecosystem’s potential impact on consumer and investor protection, financial stability, financial inclusion, responsible innovation, the US’ financial leadership and combating illicit financial activity. 

The Treasury Department has been involved in developing policy recommendations for crypto in accordance with the order.

@ Newshounds News™

Source: CoinTelegraph \

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BIS DEBATES ENDING CROSS BORDER CBDC PROJECT MBRIDGE – REPORT

Yesterday Bloomberg reported that the Bank for International Settlements (BIS) is considering whether to shut down Project mBridge, the cross border CBDC payments platform developed in collaboration with the central banks of China, Hong Kong, Thailand and the UAE. In June Saudi Arabia joined at the same time as mBridge launched as a minimum viable product.

Bloomberg cited sources saying the topic was discussed at last week’s International Monetary Fund (IMF) and World Bank meetings. A concern is Russia’s ongoing enthusiasm for developing a similar sounding BRICS Bridge.

At a Group of 30 event in Washington on Saturday, BIS general manager Agustín Carstens was quoted as saying “we cannot directly support any project for the BRICS because we cannot operate with countries that are subject to sanctions — I want to be very clear about that.” Both Russia and Iran are BRICS+ members.

mBridge’s design
mBridge enables commercial banks to make cross border payments via their central banks, using wholesale central bank digital currencies (wCBDCs). The design encourages direct local currency payments, sidestepping the need to use US dollars.

For cross border payments, banks often either use correspondent banks or keep bank accounts (nostro accounts) at the destination, which are expensive to maintain as they tie up capital.

Hence, there are pros and cons with the mBridge design. A key advantage is banks don’t need to keep nostro accounts at the destination or use correspondent banking, saving considerable money.

On the flip side, a key reason for using the US dollar as an intermediate currency is because almost all currencies have their optimal FX rates against the dollar. In other words, local currency payments involve less attractive FX rates, which is why they haven’t taken off in a big way.

There’s some simple math involved here. Currently, there are 180 currencies, each with their best rate against the dollar. That’s 180 currency pairs, with relatively strong supply and demand. So it’s cheaper to go from Thai baht to USD to renminbi, than directly from baht to renminbi.

That’s because the direct local currency route for 180 currencies translates to 16,110 currency pairs. If you spread the supply and demand across 16,110 pairs rather than 180, these are far more thinly traded so you no longer get good FX rates.

An obvious path is to choose an intermediate currency different from the US dollar. Notably, BRICS countries don’t seem keen on that. This FX cost issue is critical to mBridge’s viability, because FX makes up the largest proportion of cross border payment costs, by far. State-owned Chinese companies might feel obliged to use local currencies, but companies in other economies will demand the cheapest path.

China’s role in mBridge
China chairs the mBridge technical working group and developed some proprietary components, including a Chinese blockchain consensus mechanism. The Bloomberg piece was critical about allowing China such an important role in the project. 

China’s role is even greater because Hong Kong is involved and the UAE’s central bank representative spent a large part of his career at the Hong Kong Monetary Authority. So three out of the four central banks have strong Chinese ties. 

However, the project started as a joint Hong Kong – Thailand initiative, so its location at the Hong Kong BIS Innovation Hub and the involvement of China were natural paths.

However, it’s not surprising the topic is being debated. Ledger Insights featured an opinion piece exploring the BIS dilemma in January. It concluded that if mBridge proves viable, then the central banks are likely to proceed with or without the BIS. Although it depends on their contracts with the BIS.

Since the January post, the BIS has launched Project Agorá, another cross border CBDC project, but one that supports correspondent banking. Unlike mBridge which has two BRICS members in China and the UAE, no BRICS members are involved in Agorá.

At SIBOS last week, two pieces of mBridge news reinforced the existence of this BIS debate around its future. Firstly, there was a surprising discussion about potentially integrating with Swift and even possibly including the dollar in future.

The second piece of news was the plan to open source the mBridge software. On the one hand, this might help to alleviate concerns about the dependence on China. However, it also makes it far easier for sanctioned countries to spin up a version of their own, without involving the BIS.

Should the BIS remain engaged?
In our January opinion piece, we concluded that IF mBridge proves viable, the central banks are likely to continue, with or without the BIS. With open source software, that’s even more probable. However, with the BIS involved, sanctioned countries will be prevented from engaging.

Payments are all about network effects. So if many more countries join mBridge rather than BRICS Bridge, that will support the effectiveness of sanctions and prevent mBridge morphing into BRICS Bridge. It brings the issue into focus: is mBridge about new payment efficiencies, or is it about an alternative to the status quo with the US dollar at the core?

At SIBOS, the former Governor of the People’s Bank of China, Zhou Xiaochuan, noted that “If the U.S. government would like to use the U.S. dollar as a sanction tool, it may reduce the feasibility of other countries to use the U.S. dollar.” 

No matter one’s view on Russia or Iran, Governor Zhou’s statement is factual. Whether it’s mBridge or something entirely different, logically there will be strategies to circumvent using the dollar. We’ve reported on Russia iterating through several different paths, many involving crypto or DLT.

However, in the case of mBridge, the genie is already out of the bottle. It’s likely better for the BIS to engage than not.

@ Newshounds News™

Source:  Ledger Insights

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🌱 HOW TO HANDLE CRYPTO!  BINANCE HAS A CRYPTO WEALTH MANAGER  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Iraq Economic News and Points To Ponder Tuesday Afternoon 10-29-24

Al-Sudani: The Priorities Of The Government Program Were Necessary Due To The Nature Of The Stage And Its Economic Challenges

Tuesday 29 October 2024 | Politics Number of readings: 113  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "The priorities of the government program were necessary for the nature of the stage and its economic challenges."

Al-Sudani said in a speech during the cabinet session on the occasion of the second anniversary of the first government session: "The targets of the government program touched the needs and aspirations of the people."

He added: "The ambition and accurate diagnosis were among the most prominent features of the government team, and we succeeded in prominent files and the language of numbers is what governs."

The Prime Minister continued: "Our achievement is throughout Iraq, and was not limited to one city, and we have completed stalled projects since 2005, and we have begun to solve intractable problems."    https://ninanews.com/Website/News/Details?key=1165035

Al-Sudani: We Are In The Process Of A Ministerial Reshuffle

Tuesday 29 October 2024 18:57 | Politics Number of readings: 41  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani announced an expected ministerial reshuffle.  Al-Sudani said in a speech during the cabinet session, on the occasion of the second anniversary of the first government session:

"The government faces financial, monetary, institutional and legislative challenges, and we are in the process of a ministerial reshuffle," stressing: "The ministerial reshuffle is not a political position."

He added: "We face political challenges in light of the recent turns in the region as a result of the Zionist aggression, and the region is going through dangerous developments that directly affect Iraq." https://ninanews.com/Website/News/Details?key=1165046

The President Of The Republic Calls For Enhancing Cooperation With The Countries Of The World In Order To Extradite Wanted Persons And Recover Iraq's Funds Abroad

Tuesday 29 October 2024 12:59 | Economic Number of readings: 300  Baghdad / NINA / President of the Republic Abdul Latif Jamal Rashid called for enhancing cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad.

A presidential statement stated that the President of the Republic received, today, Tuesday, at the Baghdad Palace, the Chairman of the Integrity Commission, Mohammed Ali Al-Lami.

According to the statement, Rashid congratulated the Chairman of the Commission on his assignment to the position, stressing that everyone expects effective and correct steps from the Commission to preserve public money through legal and constitutional procedures, adding that diagnosing the waste of public money is a noble national task that requires a serious and firm stance from all regulatory agencies and bodies, foremost of which is the Integrity Commission, calling for the adoption of integrated and comprehensive national plans and programs in which all official and societal activities have an active role. "

The President of the Republic called, according to the statement, to enhance cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad."

For his part, Mohammed Al-Lami reviewed the Commission's future plans and programs, appreciating the support of His Excellency the President of the Republic for the Commission's work and its efforts to achieve transparency.

He stressed the importance of the Presidency of the Republic's support for the Integrity Commission in its efforts to combat the corrupt, recover Iraq's money, and preserve national wealth. / https://ninanews.com/Website/News/Details?key=1164949

The Ministry Of Finance Issues A Directive To Withdraw The Hand Of The Director General Of The General Tax Authority

Buratha News Agency1392024-10-29  The Ministry of Finance issued a directive to withdraw the Director General of the General Tax Authority. This came after the Parliamentary Integrity Committee submitted a recommendation to the Prime Minister yesterday, Monday, to withdraw the Director General of the Tax Authority.

 The committee stated in a statement, “The Parliamentary Integrity Committee followed with great interest the audio file attributed to the Director General of the Tax Authority in which he talks about manipulation of tax records in exchange for bribes.”

The statement added, "Based on its role and keenness to achieve the values ​​of integrity and combat corruption, the committee addresses the Prime Minister to submit a recommendation to withdraw the Director General's hand until the investigations are completed and the validity of the registration is decided by the competent judicial authorities to ensure the integrity of the procedures and prevent any cases of manipulation in the future."

Yesterday, Monday, the Prime Minister ordered an investigation into an audio leak attributed to the Director General of Taxes.   https://burathanews.com/arabic/news/452162

Slight Rise In Oil Prices In Global Markets

Tuesday 29 October 2024 | Economic  Baghdad / NINA / Oil prices rose slightly on Tuesday, after a sharp decline in the previous session, supported by a US plan to buy oil to boost the strategic reserve.

Brent crude futures rose 44 cents, or 0.6%, to $71.86 a barrel, while US West Texas Intermediate crude rose 45 cents, or 0.7%, to $67.83.  Futures for the two benchmarks fell 6% on Monday, reaching their lowest levels since October 1.   https://ninanews.com/Website/News/Details?key=1164898

Continuous Decline In Dollar Prices.. Will Iraq Restore Balance To Its Economy?

Economy  | 10/29/2024  Mawazine News – Economy  The US dollar exchange rates witnessed a decline on Monday in the markets of the capital Baghdad and in Erbil, the capital of the Kurdistan Region, with the opening of the country's main stock exchange.

The dollar prices decreased with the opening of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150,750 dinars per 100 dollars, while yesterday, Sunday, it recorded 151,000 dinars per 100 dollars.

As for the selling prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 151,750 dinars, while the purchase price reached 149,750 dinars per 100 dollars.

In Erbil, the dollar recorded a decline, as the selling price in exchange shops reached 150,700 dinars per 100 dollars, while the purchase price reached 150,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=256218

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-29-24

Good Afternoon Dinar Recaps,

JUST IN: BINANCE LAUNCHES FIRST-EVER CRYPTO EXCHANGE SERVICE FOR WEALTH MANAGERS

Binance has launched the a first-of-its-kind crypto solution which will cater to the crypto needs of wealth managers.

▪️Binance has launched 'Binance Wealth' which will cater to wealth managers and further boost crypto adoption.

▪️This initiative will provide easy access for high net-worth individuals seeking digital asset exposure.

▪️The exchange will provide exposure to a wide range of crypto assets beyond Bitcoin and Ethereum.

Binance, the world’s largest crypto exchange by trading volume, has launched the first-ever crypto exchange solution for wealth managers. According to the exchange, this initiative will be similar to traditional wealth management. This move could also help further assert the exchange’s dominance in the crypto space.

Binance Launches ‘Binance Wealth’
The crypto exchange announced in a press release the launch of Binance Wealth, the first crypto exchange technological solution catering to wealth managers. 

This service will allow wealth managers to oversee their clients’ onboarding and make investment recommendations, ensuring that these clients enjoy strong support throughout the onboarding process.

Wealth managers will also retain full discretionary control, similar to traditional wealth management services. Wealth managers seeking the Binance Wealth program must apply to gain access. After their application has been approved, they can support their clients with the onboarding process into the crypto space.

These clients will have to submit the necessary KYC/KYB documentation for verification. Once boarded, these clients can manage their investments and gain guidance from their wealth managers on the best investment decisions for them.

This move comes just over a month after Binance CEO Richard Teng mentioned that their institutional investors grew 40% this year. With this first-of-its-kind offering, the top crypto exchange will attract high-net-worth individuals looking to gain exposure to cryptocurrencies.  This could also help boost the crypto exchange’s dominance as it looks to wade off its competitors.

Advantage Of This Initiative For Investors
Binance mentioned in the press release that this initiative will significantly reduce the entry barrier for wealth managers and their clients seeking digital asset exposure. These investors will enjoy an experience similar to the traditional financial advisory framework they are accustomed to.

These investors will gain exposure beyond Bitcoin and Ethereum as the top exchange will offer a wide range of supported tokens beyond the top two cryptocurrencies by market cap.

Wealth managers’ clients will have access to trading and earn/staking products, which cater to the needs of all clients, whether they are looking for active or passive investment opportunities.

Lastly, the crypto exchange mentioned that Binance Wealth will provide a ‘White-glove VIP service’ as wealth managers will receive high-touch VIP services and support from the exchange’s VIP key account client managers.

@ Newshounds News™

Source:  CoinGape

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FIVE THINGS TO EXPECT IN CARDANO'S UPCOMING CHANG 2 UPGRADE

The Cardano blockchain's two-part Chang Hard Fork represents a major upgrade that will enhance network functionality and decentralized governance. On Sept. 1, Chang 1, the first phase of the Chang Hard Fork, was activated, bringing crucial improvements such as empowering the Interim Constitutional Committee.

In November 2024, the process to enact the second phase of the Chang upgrade is expected to kick off in full swing, ushering in a critical phase for Cardano’s governance evolution. Chang 2 will require five governance actions to be successfully enacted on-chain.

The current roadmap anticipates a prerelease of Cardano node v10 for testing in mid-October. This crucial phase will initiate thorough testing across multiple environments, starting with the preview and preprod testnets. This second controlled Chang hard fork will complete the metamorphosis of Cardano to the age of Voltaire. 

This culmination of the Chang upgrade will mark a watershed moment for Cardano’s governance, marking a pivotal shift that will have far-reaching and long-term consequences for the whole ecosystem. What to expect The second phase of the Chang Hard Fork is expected to bring even more advancements. In a recent tweet, Emurgo, a founding entity of Cardano, outlined five updates to potentially expect.

First is Delegate Representative (DRep) Voting. Introducing Delegate Representative (DRep) Voting aims to strengthen the community's voice. DReps will be one of the key governing bodies in Cardano's governance framework, able to vote on ideas and governance actions on behalf of the whole community. SPO (Stake Pool Operator) voting will also be a key upgrade in the Chang phase 2.

 Through this update, SPOs will gain voting power by leveraging the stakes delegated to their pools, altering their role in Cardano's future decentralized governance to one of greater participation.

The Cardano Chang 2 upgrade will also usher in governing actions; here, community members will be encouraged to propose governance actions. Anybody in the community will be able to initiate a proposal with a small ADA deposit, which will be refunded after voting ends. 

The proposal will go through a voting procedure with DReps and SPOs to verify that the results match the Cardano community's vision. 

Another update to be expected is Treasury Withdrawal. To carry out the approved governance actions, a treasury withdrawal system will be deployed. Approved governance actions will receive funding allocated directly from Cardano’s treasury.

 This system will allow community members to shape treasury funds, promoting the Cardano network's long-term growth.

@ Newshounds News™

Source:  U Today

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🌱PETER SCHIFF EXPLAINS WHY AMERICA IS ENTERING A HORRIFIC FINANCIAL CRISIS  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Economist’s “News and Views” 10-29-2024

BIS Threatens To Shut Down BRICS Project mBridge

Arcadia Economics:  10-29-2024

Just days after the BRICS Summit was completed, Bloomberg now reports that the BIS is threatening to shut down the mBridge cross-border payment platform.

 Or at least attempt to.

Vince Lanci explains why they're doing that now, and whether they'll be able to succeed. As well as the implications for what the move implies.

To find out more, click to watch the video now!

https://www.youtube.com/watch?v=5gYv2GYhbYY

LIVE! WE ARE IN A FULL-ON DEBT CRISIS... THE "LINE IN THE SAND" HAS ALREADY BEEN CROSSED.

Greg Mannarino:  10-29-2024

https://www.youtube.com/watch?v=m3ePgFg_a1M

Jim Rogers: We’re Staring at History’s Greatest Recession; Numbers Are Staggering

Daniela Carbone:  10-29-2024

“America has gone the longest in our history without a recession. History would say we're getting closer to a problem,” warns legendary investor Jim Rogers, chairman of Beeland Interests and co-founder of the Quantum Fund and Soros Fund Management.

Speaking with Daniela Cambone, Rogers highlights the mounting U.S. debt as a path to financial danger, predicting that “the next bear market has to be very serious… and printing money is not going to solve the problem.”

He warns that persistent banking sector issues could trigger a domino effect across currency, investment, bond, and stock markets, calling it potentially “the worst in my lifetime because the debt is so much higher compared to 2008.”

CHAPTERS:

00:00 US economy overview

2:57 Fed

5:30 Stock market

6:31 Trump’s income tax rhetoric

 8:06 US debt

10:09 US default on its debt

10:53 BRICS

13:16 BRICS currency

14:21 US banking sector

16:01 Gold and silver

17:40 North American investors’ appetite for gold

 19:05 Bitcoin

19:55 How should investors prepare

 21:58 US dollar

23:09 Gold confiscation

24:10 Jim’s advice

https://www.youtube.com/watch?v=wKSwR-R2mro

“Tidbits From TNT” Tuesday 10-29-2024

TNT:

Tishwash:  Government advisor explains details of 2025 budget deficit: “We are counting on oil prices”

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Tuesday, that the financial deficit in the 2025 budget amounted to 64 trillion dinars, amid expectations of an increase in oil prices in the global market.

Saleh said, in a statement followed by "Al-Eqtisad News", that "next year's budget 2025 will not deviate from the constants approved in the Federal General Budget Law, the three-year budget submitted by the government and approved by the House of Representatives for the years 2023-2024-2025."

Regarding the budget deficit, he explained that “the 2025 budget will have a hypothetical deficit of 64 trillion dinars, which is a (precautionary) deficit that has been established by law to avoid fluctuations in the general budget revenues for the coming year, especially oil revenues, which are subject to fluctuations in the oil asset cycle and the conditions of energy markets in the world.”

Saleh added, "The price of a barrel of oil in the three-year budget, to which the 2025 budget is subject, was set at $70, and any annual increase in oil prices exceeding $70 per barrel of exported oil will reduce the hypothetical deficit in the budget  link

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Tishwash:  The President of the Republic calls for enhancing cooperation with the countries of the world in order to extradite wanted persons and recover Iraq's funds abroad

 President of the Republic Abdul Latif Jamal Rashid called for enhancing cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad.

A presidential statement stated that the President of the Republic received, today, Tuesday, at the Baghdad Palace, the Chairman of the Integrity Commission, Mohammed Ali Al-Lami.

According to the statement, Rashid congratulated the Chairman of the Commission on his assignment to the position, stressing that everyone expects effective and correct steps from the Commission to preserve public money through legal and constitutional procedures, adding that diagnosing the waste of public money is a noble national task that requires a serious and firm stance from all regulatory agencies and bodies, foremost of which is the Integrity Commission, calling for the adoption of integrated and comprehensive national plans and programs in which all official and societal activities have an active role. "

The President of the Republic called, according to the statement, to enhance cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad."

For his part, Mohammed Al-Lami reviewed the Commission's future plans and programs, appreciating the support of His Excellency the President of the Republic for the Commission's work and its efforts to achieve transparency.

He stressed the importance of the Presidency of the Republic's support for the Integrity Commission in its efforts to combat the corrupt, recover Iraq's money, and preserve national wealth. link

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Tishwash:  The Future of Relations with Washington: Iraq Wants Partnership, Not Hegemony

The relationship between Iraq and the United States faces major challenges in light of regional developments and internal political changes in both countries.

There is an Iraqi trend to present its relationship with Washington in a different way than it was in the past, as Iraq seeks to diversify this relationship away from the military and security dimension that has long dominated bilateral cooperation. Iraq recently submitted an official memorandum of protest to the UN Security Council against Israel, stressing the need to clarify positions and highlight Iraqi grievances before international forums, a step aimed at reformulating Iraq's foreign policies in a way that enhances its sovereignty and independence.

In this context, the Iraqi government formed a special committee to review the relationship with Washington, based on the Strategic Framework Agreement signed in 2008, which sought to establish a partnership based on cooperation in various fields, not just security affairs.

Sources told Al-Masala that Iraq seeks to achieve a balanced partnership that will allow it to build a strong and sustainable economy, by benefiting from Washington’s expertise in the economic, educational, and health fields, instead of relying excessively on the military aspect. This trend reflects a strong desire to achieve the aspirations of the Iraqi people away from the effects of regional conflicts.

Moreover, Iraq announced earlier this year the end of the international coalition formed in 2014 to fight ISIS, a move aimed at reducing foreign military presence and restoring national control over sovereign decisions.

This announcement comes as part of a plan aimed at changing the pattern of relations with the United States, while seeking to develop new mechanisms for cooperation through a tripartite military committee that includes representatives from both parties.

Analyses indicate that “this committee must establish strong foundations for a real partnership that is far from hegemony and based on mutual interest, so that Iraqis feel the impact of this partnership in their daily lives.”

The shift towards economic partnership has become an increasing demand, as some voices within the Iraqi government stress the need to move from reliance on military support to enhancing cooperation in the areas of infrastructure, technology and energy, which contributes to developing Iraq’s economic capabilities and providing job opportunities for young people.

The Iraqi-American relationship is one of the most complex issues in the Iraqi political scene, and it is a source of disagreement between political forces, as visions differ on how to deal with this relationship and direct it towards a path that serves the country’s interests, far from foreign interference.

Political movements see Washington as a key partner whose cooperation must be maintained, especially in the economic, health and educational fields in which Iraq lacks long-term institutional support.

These forces call for expanding areas of cooperation outside the security framework, noting that the United States can be a strategic ally for Iraq's development through massive investments, especially in the areas of infrastructure and energy.

Perhaps this trend is expressed by representatives in parliament and officials who believe that building a comprehensive economic partnership with Washington can achieve economic stability away from oil revenues.

On the other hand, there are forces that consider the relationship with the United States to be fraught with sovereignty risks. These parties, which often tend to adopt a nationalist discourse that rejects the American military presence, see American policy in the region as conflicting with Iraq’s interests and regional orientations.

Given the vast regional influence of these powers, the political arena has witnessed calls to re-evaluate the relationship and determine the extent of its need.

This division is clearly evident in the decisions of the Iraqi government, which seeks, on the one hand, to calm internal fears by forming committees to review the strategic framework agreement with the United States, and on the other hand faces pressure to confirm the trend towards new partnerships that are not subject to external pressures.

The joint committee held three meetings in Washington and Baghdad, during which it reached a new mechanism to regulate the relationship between the two parties, which stipulates the withdrawal of the remaining American combat forces in Iraq, and the retention of a number of advisors for the purposes of advice and logistical support, according to the strategic framework agreement signed in 2008 and ratified by the Iraqi parliament. link

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Mot: ......... figured out Why da RV is soooooo Slow!!!! 

Iraq News Highlights and Points To Ponder Tuesday AM 10-29-24

Reassuring Citizens.. Economist: The Dollar Exchange Rate Will Return To Stability

Economy |Baghdad Today – Baghdad  Economic expert Mustafa Akram Hantoush commented, today, Tuesday (October 29, 2024), on the return of stability of the dollar exchange rate in local markets.

Hantoush said in an interview with Baghdad Today, "The rise in the dollar exchange rate has several reasons, including trade with Iran and Syria and travelers, the absence of the platform and the presence of small traders, and the presence of the parallel market."

He added, "As for the recent increase, it was due to fears of the expansion of the war in the region," indicating that "as a result of the absence of a major war and with the increasing news about stability in the coming period, the demand for the dollar will decrease and thus the dollar exchange rate will return to stability at 150 thousand dinars."

It is noteworthy that the dollar exchange rate has recorded a continuous decline over the past two days after it rose during the past period to more than 153 thousand for every 100 dollars.  LINK

Currency Smuggling Mafias Seize Crises To Undermine The Economy And Deplete Reserves!

Posted on 2024-10-29 by sotaliraq   In light of the economic and political crises witnessed by Iraq and the region, there are increasing reports of the increasing activity of currency smuggling mafias that exploit these conditions to their advantage.

These networks transfer money abroad illegally, posing a growing threat to economic and security stability in Iraq.

Reports indicate that these operations take advantage of the fragility of government institutions and the spread of corruption, which opens the door to huge losses in terms of cash reserves and the ability to finance basic needs, in addition to the exacerbation of inflation and the deterioration of the value of the Iraqi dinar.

Economic expert, Mohammed Al-Kubaisi, revealed that “the currency smuggling mafias in Iraq and the region are exploiting the economic and political crises to increase money smuggling operations abroad, which results in serious damage to the Iraqi economy.”

He explained that "these mafias are working to transfer huge sums of money illegally, which directly affects the value of the dinar and increases the severity of inflation in the country."

He pointed out that "smuggling operations lead to a shortage in foreign currency reserves, which weakens Iraq's ability to finance its basic import needs and further deteriorates the balance of payments."

He added that "the illegal exit of these funds contributes to the decline in domestic investment and the creation of an unstable economic environment, as smuggling relies on corrupt channels that undermine the effectiveness of government institutions and increase the spread of corruption."

The expert stressed that “currency smuggling does not only affect the economic aspect, but also extends to constitute a serious security threat, as this money is used to finance illegal activities including drug trafficking and financing armed groups, which exacerbates the security challenges in the country and the region as a whole.”

Al-Kubaisi concluded his speech by “warning of the danger of these practices that weaken Iraq’s financial sovereignty, stressing the need to take firm measures to stop smuggling operations and enhance oversight of financial transfers, with the aim of protecting the national economy and restoring confidence in financial institutions.”

For his part, Nasser Al-Kanani, an economic expert, said, “As soon as the war in Lebanon and Gaza escalated and security tensions in the region as a whole, specialized mafias emerged that work to exploit such security conditions in order to increase the process of smuggling currency from Iraq. There are different methods for this smuggling, some of which are done through foreign imports, which take place outside the platform.”

He added, “Iraq is working to strengthen its national currency, but there are those who are working to weaken this currency by making the dollar very high against the national currency, and some are working to limit large commercial transactions to the dollar exclusively, and the sale of real estate, cars, etc., and this also weakens the national currency, despite all the campaigns to prevent internal transactions in dollars.”

The economic expert continued, “Iraq cannot exploit conflicts and wars to strengthen its national currency, especially since it is working hard, internally and externally, to stay away from these wars. Iraq realizes the great economic danger if it enters the circle of conflict and wars.”  LINK

Al-Atwani Confirms To The Tunisian Minister Of Finance The Serious Desire To Benefit From The Wealth Management Experience In Tunisia

Monday 28 October 2024 | Economic Number of readings: 309 Baghdad/ NINA /The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed today, Monday, to the Tunisian Minister of Finance, Sihem Boughdiri, the serious desire to benefit from the Tunisian experience in managing financial and monetary wealth, and its steps in achieving sustainable development.

A statement issued by his media office stated that "the head of the parliamentary finance committee, Atwan Al-Atwani, and the accompanying delegation, met with the Tunisian Minister of Finance, Sihem Al-Boughdiri, in the presence of the Chargé d'Affairs of the Iraqi Embassy in Tunisia, and the senior staff of the Tunisian Ministry of Finance, to discuss ways to enhance cooperation and joint coordination between Iraq and Tunisia, with regard to developing the financial, monetary and economic system, in a way that achieves the aspirations of the two brotherly peoples

 Al-Atwani stressed, according to the statement, "the serious desire to benefit from the Tunisian experience in managing financial and monetary wealth, and its steps in achieving sustainable development, especially since it has a pioneering experience in relying on non-oil revenues to finance the state's general budget."

The statement added that "the meeting came within the framework of Iraq's orientation towards maximizing its non-oil resources, so we aspire to positive integration with Tunisia in this regard, in order to achieve sustainable development that requires economic stability," explaining: "This cannot be achieved for a country that depends entirely on oil, and we cannot accept that our economy remains subject to fluctuations in oil prices."

The statement continued, "The meeting reviewed the most important challenges facing the financial and monetary sector, and how to build The general budget of the two brotherly countries, ways to diversify sources of income and address the deficit, and mechanisms for expanding the tax base and estimating revenues, referring to "the Iraqi government's adoption of automation and digital transformation, as a fundamental step in fighting corruption and improving services." / https://ninanews.com/Website/News/Details?key=1164832

Tuesday's Newspapers Are Interested In Iraq Submitting A Memorandum Of Protest To The United Nations Regarding The Use Of Its Airspace By Israeli Aircraft In Its Recent Aggression Against Iran And In Today's Parliament Session.

Tuesday 29 October 2024 06:26 | Press Number of readings: 268 Baghdad / NINA / The newspapers issued on Tuesday were interested in Iraq submitting a memorandum of protest to the United Nations for the use of its airspace by Israeli aircraft in its recent aggression against Iran and in today's parliament session.

Al-Zawraa newspaper, issued by the Journalists Syndicate, said that Iraq submitted an official memorandum of protest for the use of its airspace by the Zionist entity's aircraft in its recent aggression against Iran, considering it a violation of sovereignty.

The spokesman for the Iraqi government, Bassem Al-Awadi, announced

that Iraq submitted an official memorandum of protest to the Secretary-General of the United Nations and to the UN Security Council, which included condemnation of the blatant violation committed by the Zionist entity by violating Iraq's airspace and sovereignty. Al-Awadi said in a statement:

 "Iraq officially submitted a memorandum of protest to the Secretary-General of the United Nations and to the UN Security Council, which included condemnation of the blatant violation committed by the Zionist entity by violating Iraq's airspace and sovereignty with its aggressor aircraft, and using Iraqi airspace to carry out the attack on the Islamic Republic of Iran, on October 26."

According to the statement, the Prime Minister directed the Ministry of Foreign Affairs to “communicate with the American side regarding this violation, in accordance with the terms of the bilateral strategic framework agreement and the United States’ commitment to Iraq’s security and sovereignty.”

The statement added that “the Iraqi government affirms its firm commitment to Iraq’s sovereignty, independence and the sanctity of its territories, and that it is working at various levels to confront these violations, and stresses that it will not allow the use of Iraqi airspace or territory to attack other countries, especially neighboring countries that have relations of respect and common interests with Iraq.”

He continued: “This position reflects Iraq’s keenness to follow a policy of preserving regional stability by preventing any exploitation of its territories in regional conflicts, and supporting the resolution of disputes through dialogue and mutual understanding.”

Al-Sabah newspaper was interested in the directive of the Speaker of the House of Representatives, Mohsen Al-Mandalawi, to resolve the controversial articles in the general amnesty law, which is expected to be presented during the parliamentary session scheduled for today, which is expected to witness a vote on a number of other laws, including “the Personal Status Law and the Return of Real Estate to Their Owners Law.”

The newspaper quoted a statement from the media office of the acting Speaker of the House of Representatives, "that "Al-Mandlawi chaired a new and expanded meeting of the Parliamentary Legal Committee yesterday, Monday, in the presence of its chairman and members, and a number of representatives, to discuss all the laws submitted for voting and on the agenda of the Council's session today, Tuesday."

The statement added that "the meeting focused on discussing the controversial articles in the draft law amending the second amendment to the General Amnesty Law No. (27) of 2016," indicating that "Al-Mandlawi directed the chairmanship and members of the Parliamentary Legal Committee to expedite their resolution for the purpose of voting on the law in today's session, in addition to voting on the laws (personal status, service and retirement for the Mujahideen of the Popular Mobilization Authority, and returning real estate to its owners covered by some decisions of the dissolved Revolutionary Command Council)."

The House of Representatives is scheduled to hold its fifteenth session of the second legislative term today, Tuesday, which will witness voting on a number of important laws.

A press release issued by the media department of the House of Representatives stated that “among the laws that will be voted on in today’s session is the law on returning properties to their owners covered by some decisions of the “dissolved” Revolutionary Command Council, submitted by the Legal Committee, in addition to voting on the proposed Personal Status Law No. 188 of 1959, Articles 2 and 10, submitted by the Legal Committee and the Women, Family and Childhood Committees.

The statement indicated that the session will also witness voting on the draft law amending the second general amnesty law No. 27 of 2016, submitted by the Legal, Security and Defense, and Human Rights Committees, in addition to voting on the draft law on service and retirement for the Mujahideen of the Popular Mobilization Authority, which was submitted by the Security and Defense, Legal, Finance, Martyrs, Victims and Political Prisoners Committees, which consists of 83 articles.

The statement added that the first reading of the draft law on intellectual property protection submitted by the Culture, Tourism and Antiquities, Media, Legal, Strategic Planning and Federal Service, Education and Scientific Research Committees, which contains 167 Article.

Al-Zaman newspaper focused on the relationship between Baghdad and Washington and said that Baghdad renewed its desire to change the nature of its relationship with Washington, and move from the traditional focus on military cooperation to building a strong economic alliance, reflecting the common desire to strengthen economic ties and deepen the strategic partnership between the two countries.

The statement said that (the Higher Coordination Committee for the Strategic Framework Agreement for Friendship and Cooperation with the United States of America stressed the need to move the relationship with Washington to an economic partnership and not to focus on military affairs), and

Foreign Minister Fuad Hussein, who chaired the committee's periodic meeting in the presence of all representatives of the subcommittees within the Higher Committee, confirmed that (the latest developments in bilateral relations between Iraq and the United States of America were discussed, in addition to reviewing the achievements approved during the recent meetings between the two parties in mid-April in the capital, Washington),

adding that (the meeting touched on future working papers that will be discussed during the upcoming meetings of the committee, scheduled to be held in February of next year, within the agreed upon axes, which include cooperation in the political, diplomatic, security, defense, energy, economic, education, health and environment fields), and

Hussein stressed (the importance of strengthening relations with the United States of America by implementing the provisions of the agreement, and moving the relationship to a solid economic partnership), stressing (the need not to focus only on military and security aspects, but rather to expand cooperation to include economic, health, educational and other fields). / https://ninanews.com/Website/News/Details?Key=1164893

Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-29-24

Good Morning Dinar Recaps,

CARDANO WILL RUN A NATION STATE: HOSKINSON SHARES WHEN AND HOW

In a keynote titled “After Voltaire: The Next Evolution of Cardano,” Charles Hoskinson, the founder of Cardano, unveiled an ambitious roadmap that could see the blockchain ecosystem running a nation-state by 2030. Hoskinson envisions this nation-state as a substantial entity, potentially serving tens of millions of people.

We as an ecosystem have to make a decision. Do we want to be timid and just chase our tales and focus on small concerns or do we want to be bold and change the world? There’s no reason we can’t for the first time in human history.

We have to decide what we’re going to do with it and how far we want to take it. I believe we can run a nation state on Cardano by 2030 and not a small one, one with tens of millions of people,” the Cardano founder claimed.

How Cardano Can Run A Nation State
Hoskinson reflected on the journey of Cardano over the past seven years, emphasizing the project’s transformative impact. “We have gone from a whiteboard like this to something that has changed the lives of countless thousands of people,” he stated. 

Having traveled to 74 countries and interacted with tens of thousands of individuals, he noted that many have expressed how their lives have been changed by being part of the Cardano community.

A central theme of Hoskinson’s speech was the power of on-chain governance and community collaboration. He highlighted that the upcoming on-chain governance system is “not just some [mechanism] to make a decision; it’s a thing to bring people together to make the right decisions.” This system aims to engage the community in shaping the future of Cardano, with hundreds of workshops planned for next year to discuss marketing, branding, and system growth.

Hoskinson also highlighted the central role of the Cardano Constitution, crafted “by and for the people,” which embedded human rights at its core. “We have to have some protections for our data and our privacy, our freedom of association, commerce, and expression,” he asserted.

 The constitution seeks to guarantee that the original intentions of the ecosystem are preserved, especially in a landscape where trust in unelected entities is dwindling.

The roadmap includes the launch of major projects like Midnight, which is expected to attract millions of new users to the ecosystem. Hoskinson believes that such initiatives will catalyze the development of dozens of other significant projects across various domains, further expanding the Cardano community.

Addressing the broader implications of Cardano’s evolution, Hoskinson drew parallels with historical revolutions that have reshaped societal structures. 

“Just like the American Revolution fundamentally changed the social contract of the world […] we can hold another revolution to take back our digital lives,” he proclaimed.

 He criticized the dominance of multi-trillion-dollar corporations that exert significant control over individual lives, advocating for a future where power is decentralized and returned to the people.

Hoskinson also emphasized the unity within the blockchain industry against centralization. “Everybody in the blockchain industry is the same in that we’re all trying to fight the same thing: centralization,” he said. He called for an end to divisive narratives, urging collaboration to prevent a “terrible future of 2030” dominated by centralized control.

Concluding his keynote, Hoskinson expressed optimism about the Cardano ecosystem’s future. “We built a group of people who can do pretty much everything and we now have the resources as an ecosystem to do that. And we also have an engine that keeps speeding up and getting faster.

We just have to have the will to coordinate and prove that we are the ones to do this and we also have to realize that.”

@ Newshounds News™

Source:  Bitcoinist

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BIS AND BIG BANKS INTRODUCE PROJECT MANDALA FOR IMPROVED CROSS-BORDER TRANSACTIONS

The Bank for International Settlements and central banks from Australia, South Korea, Malaysia, and Singapore have introduced Project Mandala, a system that embeds regulatory compliance directly into cross-border financial transactions.

This initiative addresses common hurdles in international transactions, such as varying regulations that often increase costs and slow transaction speeds. According to the BIS, hopes to streamline cross-border payments without sacrificing privacy or the quality of regulatory checks by using a “compliance-by-design” approach.

Project Mandala can also integrate with both modern digital asset systems, like central bank digital currencies, and established systems, such as SWIFT, making it flexible for traditional financial institutions and emerging digital financial systems.

The Bank for International Settlements and central banks from Australia, South Korea, Malaysia, and Singapore have introduced Project Mandala, a system that embeds regulatory compliance directly into cross-border financial transactions.

This initiative addresses common hurdles in international transactions, such as varying regulations that often increase costs and slow transaction speeds. 

According to the BIS, hopes to streamline cross-border payments without sacrificing privacy or the quality of regulatory checks by using a “compliance-by-design” approach.

Project Mandala can also integrate with both modern digital asset systems, like central bank digital currencies, and established systems, such as SWIFT, making it flexible for traditional financial institutions and emerging digital financial systems.

@ Newshounds News™

Source:  Crypto News

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🌱AI CREATES PEOPLE WHO DON'T EXIST!   |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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MilitiaMan & Crew News Report on Iraq Dinar-2024 Budget Focus-Oil & Gas Export Ceyhan Port-Integrity-Central Bank

MilitiaMan & Crew News Report on Iraq Dinar-2024 Budget Focus-Oil & Gas Export Ceyhan Port-Integrity-Central Bank

10-28-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

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

Iraq Economic News and Points To Ponder Monday Evening 10-28-24

Baghdad Renews Desire To Transform Security Relationship With Washington Into Economic Alliance

October 28, 2024   Baghdad - Qusay Munther   Baghdad has renewed its desire to transform the nature of its relationship with Washington, and move from the traditional focus on military cooperation to building a strong economic alliance, reflecting the common desire to strengthen economic ties and deepen the strategic partnership between the two countries.

A statement received by Al-Zaman yesterday said that (the Higher Coordination Committee for the Strategic Framework Agreement for Friendship and Cooperation with the United States of America stressed the need to move the relationship with Washington to an economic partnership and not to focus on military affairs),

and Foreign Minister Fuad Hassan, who chaired the committee’s regular meeting in the presence of all representatives of the subcommittees within the Higher Committee, confirmed that (the latest developments in bilateral relations between Iraq and the United States of America were discussed,

in addition to reviewing the achievements approved during the recent meetings between the two parties in mid-April in the capital, Washington), adding that (the meeting touched on future working papers that will be discussed during the upcoming meetings of the committee, scheduled to be held in February of next year, within the agreed upon axes, which include cooperation in the political, diplomatic, security, defense, energy, economic, education, health and environment fields),

and Hussein stressed (the importance of strengthening relations with the United States of America by implementing the provisions of the agreement, and moving the relationship to a solid economic partnership), stressing (the need not to focus only on military and security aspects, but rather to expand cooperation to include economic, health, educational and other fields).

In Erbil, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received the new Ambassador of the Kingdom of Spain to Iraq, Alicia Rico Perez del Pulgar.

A statement received by (Al-Zaman) yesterday said that (Barzani congratulated the ambassador on her new mission at the beginning of the meeting, wishing her success), and expressed (his thanks to Spain for its support and cooperation within the framework of the international coalition against ISIS).

The statement indicated that (the two sides stressed the importance of resolving the contentious issues between the region and the federal government on the basis of the constitution, and respecting the federal system and the constitutional entity of Kurdistan).

For her part, Pulgar stressed (the importance of strengthening her country's relations with Iraq and the region in various fields, and congratulated the Prime Minister on the success of the Kurdistan Parliament elections). In addition, the Undersecretary of the Federal Ministry of Finance, Masoud Haider, confirmed the absence of direct dealings between the federal institutions and the departments of the region regarding the disbursement of salaries.

Haider said in a statement yesterday that (no federal institution can deal directly with the departments of the regional government, and that dealing with the region is only done through the Kurdistan government itself), and he pointed out that (salaries are paid exclusively by the Ministry of Finance in the regional government), stressing (the necessity of not exploiting these sensitive issues for political purposes that may increase tensions).  LINK

Parliamentary Finance To Nina: We Are Discussing With The Government The Preparation Of The 2025 General Budget...And These Are Our Observations

Monday 28 October 2024 17:16 | Economic Number of readings: 170  Baghdad / NINA / The Parliamentary Finance Committee disclosed part of the joint meetings with government agencies to prepare the new general budget law 2025 and its tables related to revenues and expenditures.

Committee member, MP Moeen Al-Kazemi, stated in a statement to the National Iraqi News Agency / NINA /, that "the Finance Committee has ongoing discussions and meetings with the Minister of Finance on the implementation of the 2024 budget items, especially those related to revenues and expenditures, as we found that there is a reduction in spending and complaints from governorates and ministries about the weak actual funding of spending units."

He added, "The Parliamentary Finance Committee is working on formulating the new general budget tables for next year 2025 in a realistic manner, away from the increases that cannot be guaranteed to be secured, as happened in the current year's budget 2024."

He explained, "We seek to have a general budget of 150 trillion dinars, distributed as oil revenues of 120 trillion dinars, and non-oil revenues of 30 trillion dinars, so that the budget tables are realistic in which revenues can be collected and spent."

He continued, "During the joint meetings with the Minister of Finance and ministry officials, the need to activate the revenues of government departments, including electricity, the Baghdad Municipality, municipal departments and other services provided by all ministries, in addition to taxes, border crossing revenues and customs, as well as supporting the private sector in the fields of agriculture, industry, trade, services and investment, was emphasized.

This would also contribute to increasing the country's revenues in general, and stabilizing hundreds of thousands of unemployed workers." / https://ninanews.com/Website/News/Details?Key=1164808

The Integrity, Accountability And Justice Commissions Affirm The Concerted Efforts Of State Institutions To Combat The Scourge Of Corruption

Money and business  Economy News – Baghdad  The Chairman of the Federal Integrity Commission, Mohammed Ali Al-Lami, and the Chairman of the Accountability and Justice Commission, Bassem Al-Badri, confirmed, on Monday, the combined efforts of state institutions to combat the scourge of corruption.

A statement by the Integrity Commission, seen by Al-Eqtisad News, said, "The Chairman of the Federal Integrity Commission (Mohammed Ali Al-Lami) called on state institutions to adopt a comprehensive reform policy that is consistent with the government program; to achieve the aspirations of the people in combating corruption and providing the best services to citizens."

The Chairman of the Federal Integrity Commission confirmed, according to the statement, that "the oversight agencies work in partnership with various state institutions and enjoy the support of the three legislative, judicial and executive authorities," noting "close cooperation with the heads of the courts of appeal in Baghdad and the governorates in confronting corruption and striking the hands of the corrupt."

He continued, "The Commission strives to maintain the independence of the oversight agencies and work with complete neutrality, and to stay away from any purposes or goals other than adhering to the tasks stipulated in its effective law No. (30 of 2011) as amended and other effective laws."

For his part, the head of the Accountability and Justice Commission, Bassem Al-Badri, said, according to the statement, that “Al-Lami’s assumption of the presidency of the commission represents a moral boost for the commission’s members, whom he described as soldiers of integrity on the battlefields of combating corruption, and who deserve support and assistance to carry out their arduous and serious tasks to eradicate corruption and strike the hands of anyone who dares to encroach on public funds.” 84 views  Added 10/28/2024 - 4:17 PM   https://economy-news.net/content.php?id=49238

Al-Sudani: The Government Relies On The Projects Of The Iraq Development Fund

Prime Minister Mohammed Shia al-Sudani confirmed on Monday that the government relies on the projects of the Iraq Development Fund and its subsidiary funds.

The Prime Minister's media office said in a statement that al-Sudani chaired the periodic meeting of the Board of Directors of the Iraq Development Fund, where the steps for implementing the (EDOPA) project for school buildings were followed up, and the final qualification of the companies that submitted their offers to participate and begin implementation was followed up.

Al-Sudani pointed out that the government relies on the projects of the Iraq Development Fund and its subsidiary funds to involve the private sector and expand its contribution to the national product, provide job opportunities, meet infrastructure needs and shorten the necessary time.

The meeting also discussed proceeding with the partnership with the Al-Suwaidi Group of Companies, based on the memorandum of understanding signed with it, and determining the location of the industrial city that will be established in partnership between the Fund and the Egyptian group. https://www.radionawa.com/all-detail.aspx?jimare=39969

Oil Falls More Than 4% As Geopolitical Risks Recede

Monday 28 October 2024 09:10 | Economic Number of readings: 195 Baghdad / NINA / Oil prices fell more than $ 3 a barrel in Asian trading on Monday, after the Israeli strike on Iran at the weekend avoided hitting oil and nuclear facilities in Tehran and did not disrupt energy supplies, which eased geopolitical tensions in the Middle East.

Brent crude futures and US West Texas Intermediate crude hit their lowest levels since October 1 at the opening.

This morning, Brent crude was at $ 72.66, down $ 3.39, or 4.5 percent, a barrel, while WTI crude fell $ 3.28, or 4.6 percent, to $ 68.50 a barrel, according to Reuters data. Both crudes rose four percent last week in volatile trading as markets digested uncertainty about the extent of Israel's response to Iran's missile attack on October 1 and the US elections next month.

Dozens of Israeli warplanes carried out three waves of strikes before dawn on Saturday against missile factories and other sites near Tehran and in western Iran, in the latest exchange of fire in the escalating conflict between the two Middle East rivals.

Analysts said the geopolitical risk premium that had built into oil prices in anticipation of an Israeli attack had eased.

In October, the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, left their oil production policy unchanged, including a plan to start increasing output from December. The group’s joint ministerial committee will meet on Dec. 1 ahead of a full OPEC+ meeting./End9   https://ninanews.com/Website/News/Details?key=1164683

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