Seeds of Wisdom RV and Economic Updates Thursday Afternoon 9-26-24

Good Afternoon Dinar Recaps,

 MOROCCO TURNS TO AI, BLOCKCHAIN TO ACHIEVE ‘DIGITAL HUB’ GOAL BY 2030

 The Digital Morocco 2030 was announced on Sept. 25 and launched with a $1.1 billion budget.

Morocco is betting on artificial intelligence (AI) and blockchain technologies to transform the country into a global digital hub as part of its ambitious Digital Morocco 2030 strategy.

The initiative was announced on Sept. 25 and launched with a $1.1 billion budget. It aims to integrate advanced technologies to boost public services, drive economic growth, and create 240,000 new jobs in the digital sector by 2030.

In addition to reforming government services, the strategy aims to support the development of new AI-driven startups and blockchain-based platforms, which will play a key role in Morocco’s goal of becoming a major player in the global digital economy.

AI and Blockchain

The strategy places AI and distributed ledger technology (DLT) at the core of public service digitization, streamlining government operations and improving transparency.

A key component, the Unified Administrative Services Portal, will utilize the blockchain to securely manage services such as healthcare, education, and social protection, while AI systems will enhance service delivery by analyzing and processing data in real-time.

Minister of Digital Transition Ghita Mezzour emphasized that the strategy seeks to boost the digital economy while fully embracing digital technologies, including AI and DLT.

The Moroccan government aims to improve its ranking in the United Nations Online Services Index, moving from 100th to 50th place globally.

The Digital Morocco 2030 strategy also targets an increase in digital export revenues to 40 billion dirhams ($4.15 billion) and an overall contribution of 100 billion dirhams ($10.36 billion) to the country’s gross domestic product.

Additionally, the government plans to enhance 5G coverage to 70% of the country’s territory and create 3,000 startups.

Attracting global tech

Morocco seeks to attract global tech companies specializing in AI and blockchain, inviting them to establish operations and contribute to the country’s growing tech ecosystem.

The Moroccan Agency for Digital Development (ADD) will support the digitalization of public administrations and standardize administrative procedures through a unified digital portal.

The Digital Morocco 2030 plan also focuses on fostering innovation within the country by supporting startups that are developing AI and blockchain-based platforms.

The government is creating a supportive legal framework to accelerate the growth of these startups and enable them to expand globally.

By nurturing a dynamic tech ecosystem, Morocco hopes to generate hundreds of thousands of jobs while positioning itself as a competitive force in the AI and blockchain sectors on the international stage.

@ Newshounds News™

Source:  Crypto Slate

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NYDFS SUPPORTS FEDERAL CRYPTO REGULATIONS AND MAINTAINS STATE ROLE 

• NYDFS expresses support for federal crypto regulations while ensuring states retain their roles.

• Adrienne Harris emphasizes the importance of both federal and state involvement in regulation.

• Many companies relocate due to regulatory uncertainty, while some choose to remain in the U.S. 

The New York Department of Financial Services (NYDFS) has expressed no concerns regarding federal cryptocurrency regulations. However, the office also believes that each state will retain its current role in overseeing digital assets.

Balancing Federal and State Authorities

Adrienne Harris, the New York State Financial Services Superintendent, spoke at the Digital Asset Compliance and Market Integrity Summit held in Manhattan on Wednesday. During the event, she defended federal cryptocurrency legislation while addressing the role of the states.

In her address, Harris stated that her office is ready to work with federal authorities, but insisted that states must also play a role to be more effective. She noted that states can move faster in regulating digital assets, which counters the perception that state oversight undermines regulatory standards. Harris remarked:

“Passing bills and drafting regulations is indeed important, but it is still essential for states to have a role.”

Continuing to discuss the role of states in crypto regulation, the Superintendent highlighted that NYDFS possesses one of the strongest digital asset regulatory frameworks globally. Harris expressed optimism that federal cryptocurrency legislation will soon be made public and confirmed that NYDFS has been in discussions with the U.S. House of Representatives and Senate.

With a team of 60 full-time staff, NYDFS’s crypto division has become one of the largest regulatory bodies for cryptocurrency in the world.

Cryptocurrency Regulations

Congress, the SEC, NYDFS, the Treasury, and the Fed all advocate for a regulated presence of cryptocurrencies in the U.S. 

However, we have seen that tangible steps have not been taken to the desired level for years. 

Cryptocurrency companies in the U.S. are being directed down a straight line with their eyes blindfolded, yet they can neither see nor find a straight line.

Due to the lack of necessary regulatory guidance, many companies have relocated their headquarters to countries like the UAE, Qatar, and Singapore. 

However, giants like Coinbase and Ripple announced their intention to stay and continue fighting in America. If Trump is elected, it could be a significant win for cryptocurrencies, likely leading to tangible crypto laws. However, Harris also promised to focus on regulations in a scenario where she wins the elections.

@ Newshounds News™

Source:  CoinTurk

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XRPL’S XAMAN WALLET 3.0 LAUNCHES: REVENUE SHARING AND DEVELOPER PERKS UNVEILED 

• Xaman Wallet’s version 3.0 introduces a revenue-sharing program to support developers and enhance the XRPL ecosystem.

• The new update offers a threshold-based model, universal transaction signing, and enhanced accessibility for developers and users.

 The XRPL-based wallet, Xaman Wallet, has released version 3.0, which marks a huge step forward by introducing a monetization model that splits money with dApp developers.

This version includes various enhancements to improve the user experience, including a new xApp page, NFT offer previews, more detailed transaction insights, and more smooth interactions with AMM pools.

Xaman Upgrade: User-Centric Design and Developer Revenue Sharing 

The new design not only provides a cleaner, more user-friendly interface, but it also makes browsing the wallet’s functionalities much simpler.

The most notable feature of this upgrade is the threshold-based paradigm, which allows low-transaction accounts to continue using the wallet for free while high-transaction accounts may need to subscribe to additional features.

This update demonstrates Xaman’s dedication to giving value to its consumers while also guaranteeing that frequent users have access to even more advanced features.

Looking ahead, Xaman has announced intentions to launch a revenue-sharing program for developers of popular tools and xApps within its ecosystem in early 2025.

Although the finer details are still being worked out, Xaman hopes to create an atmosphere in which user contributions not only fuel the platform’s growth but also benefit the community.

This program aims to build a more integrated and thriving community by allowing creators of popular xApps to earn monthly payouts.

For example, a developer who produces a highly engaging xApp will be compensated on a regular basis, encouraging innovation and the creation of useful tools inside the Xaman ecosystem.

By sharing money with developers, Xaman is actively aiming to create a collaborative atmosphere in which all participants profit from each other’s success.

Xaman version 3.0 also includes the Universal Transaction Signing tool. This tool allows developers to connect to any network while enabling a variety of amendments, making it easier to sign transactions and experiment with new transaction kinds.

This innovation is especially useful for developers wishing to experiment with new transaction models because it eliminates the difficulties associated with signing transactions across several networks.

Previously, CNF reported that Xaman Wallet had connected with C14, allowing for smooth fiat-to-crypto transfers and giving users access to the Xahau and XRPL tokens. C14’s integration greatly improves global accessibility by allowing crypto purchases in more than 50 countries. 

@ Newshounds News™

Source:   Crypto News Flash  

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PROOF RIPPLE WORKS WITH THE FED What It Means For XRP HOLDERS  |  Youtube

@ Newshounds News™

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ERIC ADAMS DID SOMETHING BAD...  |  Youtube

NYC Mayor Eric Adams is facing charges and his aides are resigning. by The Economic Ninja

@ Newshounds News™

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BREAKING NEWS: IRAQ'S ECONOMY LATEST UPDATE - MUST WATCH!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team Currency Facts  

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So What About Silver?

So What About Silver? 

Notes From the Field by James Hickman / Simon Black

September 25, 2024  In the 6th century BC, during the reign of Nebuchadnezzar II, Babylon flourished as a center of power, culture, and commerce.

We know this because the Babylonians were exceptional record keepers. And they chiseled everything down onto cuneiform tablets, many of which have survived through today.

Sadly the tablets aren't tabloids. They don't contain any juicy gossip or colorful stories of ancient times.

But they do offer extremely detailed-- though often boring and mundane-- records of everyday economic transactions, legal contracts, and administrative activities.

Just like future historians centuries from now should easily be able to see this evening's closing stock prices for Apple and Tesla, we can also read about daily grain prices in ancient Babylon.

One important tablet from the reign of Nebuchadnezzar II highlights the interchangeability of gold and silver in Babylonian commerce. It records a transaction where 5 shekels of silver were considered equivalent to half a shekel of gold.

(The shekel was an ancient unit of weight approximately equal to 8.33 grams.)

This exchange rate implies a silver-to-gold ratio of 10:1.

The formal establishment of fixed exchange rates between gold and silver took a significant leap under Darius the Great in the mid-6th century BC.

Ruling over the vast Achaemenid Empire, Darius borrowed the concept of minting coins from the Lydians and introduced a bimetallic standard. He decreed that one gold "daric" coin was equivalent to 20 silver coins, creating one of the first examples of an official, fixed silver-to-gold ratio.

Over time, the ratio fluctuated due to advancements in mining techniques and changes in supply and demand. And by the era of Alexander the Great in the 4th century BC, the ratio had shifted to 13:1.

Similarly, in ancient Rome, Julius Caesar established a 12:1 ratio.

Even in the early history of the United States, The Coinage Act of 1792 legally defined the US dollar in terms of specific weights of gold and silver—1.604 grams of pure gold or 24.1 grams of pure silver—establishing a ratio of approximately 15:1.

Of course, today, the silver-to-gold ratio is whatever the market decides. Ever since the dollar was removed from the gold standard more than five decades ago, the market ratio between silver and gold has ranged from about 25:1 all the way up to 120:1. Right now it is about 85:1.

Many people have an idea about where this ratio should be. Some people think that it will inevitably fall back to 50:1 which would price silver at around $53 per ounce.

Silver could certainly rise to $53 and far beyond. But not because of some preordained ratio.

Remember, there is no fixed rule or law regulating the silver/gold ratio. There's nothing stopping it from rising to 500:1.

And frankly I think it's likely the ratio could rise much higher from its current 85:1.

Just think about the catalysts that could drive both gold and silver prices much higher.

Gold prices over the past few years have been pushed to all-time highs by central banks. And as I've argued, this is a pretty clear sign that they anticipate moving on from the US dollar as the global reserve currency.

As the US national debt continues to explode higher and the federal government appears increasingly dysfunctional, it's becoming likely that the US dollar's global dominance could come to an end within the next several years.

What does the post-dollar global financial system look like? What will the next reserve currency be? No one knows.

And that's why central banks are buying gold. Because they have $8 TRILLION worth of US dollar reserves that they need to convert into something of value.

Gold, for now, represents that value. So central banks are buying it by the metric ton.

But (with minor exception) central banks do not buy silver. The market is too small, making it extremely difficult to invest billions of dollars all at once.

Silver prices are influenced more by industrial demand... and investor speculation. I'll come back to that.

I've said before that a Kamala victory will likely spell the end for the dollar's reign. This is a person who thinks that inflation is caused by "greed" and whose answer to every problem is more government spending.

The Harris deficits and inflation will likely be the proverbial straw that breaks the dollar's back. And the consequent surge in central bank gold purchases could easily send the silver/gold ratio soaring past 200 or more.

Again, while 200 is far beyond the historical average, there's no reason why it can't be even higher. Historical averages are merely data points, not firm rules.

It's far more important to pay attention to price catalysts. And gold has a major catalyst in central bank purchases.

That doesn’t mean the price of silver won’t rise. In fact, a climbing gold price alone is very like to increase the price of silver, simply because investors will speculate that it will rise.

This becomes somewhat of a self-fulfilling prophecy; investors buy an asset believing that it will rise. That increased demand causes the price to rise, encouraging more investors to buy.

We've seen this type of feverish speculation with plenty of asset classes in the past-- including silver more than a decade ago.

But in the end, if there aren't real demand fundamentals to support the price, the speculative mania always fades.

Bottom line, gold has clear demand from central banks that could send the price to absurd levels. Silver does not share the same catalyst.

Silver prices could absolutely skyrocket. But this would be far more likely due to temporary speculation (and those buyers tend to be finicky and sell quickly) rather than from true long-term industrial or investor demand.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

PS-  If you value this type of financial and political analysis, this is just a taste of what you’ll get with Schiff Sovereign: Premium. At just $9/month, it’s packed with incredible insights, including both Plan B strategies and compelling investment research. It’s a highly educational, month-by-month guide that is designed to help you navigate the world from a position of strength, both personally and financially. https://www.schiffsovereign.com/trends/so-what-about-silver-151499/

Will a BRICS Bretton Woods Take Place in Kazan?

Will a BRICS Bretton Woods Take Place in Kazan?

Arcadia Economics: 9-25-2024

As the geopolitical landscape continues to evolve rapidly, all eyes are on the upcoming BRICS meeting set to take place in Kazan, Russia next month. Renowned journalist and geopolitical analyst Pepe Escobar has been at the forefront of reporting on this pivotal gathering, particularly focusing on the emerging proposal for a BRICS settlement currency known as the ‘Unit.’

The ‘Unit’ is a proposed settlement currency that aims to facilitate trade among BRICS nations without relying on the US dollar. As countries grapple with the implications of geopolitical tensions and economic sanctions, the need for an alternative currency becomes increasingly crucial. The ‘Unit’ could serve as a tool not just for trade, but also for creating a more interconnected and diverse global financial ecosystem.

The question now arises: will Kazan mark the dawn of a new financial era akin to the Bretton Woods Conference of 1944? While the situation is fluid, the stakes are undoubtedly high. If the BRICS nations successfully unveil a cohesive strategy that incorporates the ‘Unit’, it could redefine economic relations not just among its members, but also with the rest of the world.

The potential shift would not just challenge the dollar’s supremacy, but could also catalyze other regions to explore similar frameworks, seeking alternatives that reflect their specific geopolitical and economic realities.

As we approach the meeting in Kazan, anticipation grows. Will the BRICS nations be able to forge a path towards a unified settlement currency? If so, the implications for global economics could be profound. Economic analysts, policymakers, and investors alike will be watching closely as these developments unfold. Pepe Escobar’s insights serve as a reminder of the significant changes afoot in international finance, and the Kazan meeting may very well be a turning point in this ongoing saga.

https://youtu.be/rsi0e0ctxtY

https://dinarchronicles.com/2024/09/26/arcadia-economics-will-a-brics-bretton-woods-take-place-in-kazan/

“Tidbits From TNT” Thursday 9-26-2024

TNT:

Tishwash:  Prime Minister: We will switch to the correspondent banking system to conduct 100% of foreign transfers by early 2025

Iraqi Prime Minister Mohammed Shia al-Sudani said that Iraq will switch to a correspondent banking system to conduct 100% of foreign transfers early next year.

This came during discussions he held with US Deputy Treasury Secretary Wally Adeyemo and a number of officials in the ministry regarding the government's efforts and plans for economic and financial reform, the move towards diversifying sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering.

Al-Sudani stressed that the government has made great strides in the financial and banking reform file and that 95% of bank transfers are made through the electronic platform, and the remainder will be completed by the end of this year.  link

Tishwash:  Enhancing Transparency: Rafidain Barcode System for Iraqi and Foreign Company Incorporation Certificates

Rafidain Bank announced, today, Thursday, the adoption of the health of the issuance system via the electronic barcode system for certificates of establishment for Iraqi and foreign companies

 The bank's media stated in a statement received by {Al Furat News}, "Based on government directives to simplify procedures and automate data, Rafidain Bank announces the adoption of the issuance health system via the electronic barcode system for certificates of incorporation for Iraqi and foreign companies, in addition to working on the search, investigation and inquiry system via OFAC lists and lists affiliated with the Committee for Freezing Terrorist Funds (local and international)."

He added: "The aim of these procedures followed by the bank is to inquire and verify companies that have indicators of sanctions and bans, whether local or international, so the bank follows due diligence procedures to audit in accordance with Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015 and take the necessary precautionary measures." 

The bank confirms that the advantage of the barcode system lies in linking the bank and its branches to the ministry’s departments and cancelling the paper certificate verification process and transferring it electronically, saving time and speeding up the completion of transactions without resorting to the previous routine cycles. link

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Tishwash:  Masoud Barzani to a parliamentary delegation: There is an opportunity to legislate the oil and gas law

The President of the Kurdistan Democratic Party, Masoud Barzani, stressed today, Wednesday, September 25, 2024, that "the opportunity exists to legislate an oil and gas law to regulate the distribution of wealth."

During his reception of a delegation from the Parliamentary Finance Committee, according to a statement by the Parliamentary Media Department, received by "Baghdad Today", Barzani stressed "his desire to resolve the differences between the central government and the region, expressing his support for the Finance Committee's movement in this regard."

The meeting discussed, according to the statement, "the overall common situation and ways to resolve the pending issues between the central government and the Kurdistan Regional Government, in a way that establishes a new phase of cooperation, coordination and understanding based on respect for the Iraqi constitution."

Al-Atwani reviewed "the files that the Finance Committee delegation came to discuss with the Kurdistan Regional Government, most notably the implementation of the provisions of the Federal General Budget Law, the oil and national wealth file, the localization of employees' salaries, border crossings, taxes and customs, and other issues related to the financial aspect."

He stressed "the Finance Committee's constant efforts to find understandings that lead to radical solutions to the outstanding issues between the federal government and the region," stressing that "deferring the differences does not solve them, but rather increases their complexity."

Barzani praised the efforts of the Finance Committee "in terms of enacting laws, monitoring performance, and taking the initiative to end disputes."  link

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Tishwash:  Prime Minister stresses Iraq's openness to all forms of constructive economic partnerships

Prime Minister Mohammed Shia al-Sudani stressed, on Wednesday, Iraq's openness to all forms of constructive economic partnerships.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani received in New York today, Wednesday, the CEO of Dubai Ports Company, Sultan Ahmed bin Sulayem, which is one of the most prominent companies specialized in managing ports in the world."

He added that "the meeting discussed aspects of cooperation and the possibility of benefiting from the extensive expertise available to Dubai Ports in the field of rapid transportation of goods and re-export, especially its extensive and successful experiences in transporting goods between Asia and Europe, where bin Sulayem expressed the company's desire to cooperate with Iraq in this field, as well as the possibility of forming partnerships with the private sector in various industrial fields."

The Prime Minister stressed - according to the statement - "Iraq's openness to all forms of constructive economic partnerships," referring to "Iraq's efforts to use the available capabilities to implement the Strategic Development Road project, which is among the priorities of the government program; as it represents an important pillar for the non-oil economy and an opportunity to develop infrastructure and provide thousands of jobs and employment opportunities   link

Mot: .. Time Flys When Ur Having Fun!!!.... 

Mot: ... Welcome to da Wonderland!!! 

“Coffee With MarkZ” Thursday Morning Chat 9-25-2024

PDK Note:  I only transcribe RV/Financial news and intel. Not political opinions or most guests on this podcast.    If a podcast is mostly political…I may not post much of it at all. Thank you

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning….. Is this another “Groundhog Day” or will something happen???

Member: I honestly FEEL this thing is ready to pop. Oct 1st is the beginning the Fiscal Year of both USA and Iraq. We will know much by Tuesday.     Imo

Member: Yes… Oct 1st seems promising

MZ: Dry on the RV front overnight….but, I have had confirmations from bond groups to bankers who are now expecting this weekend they will be full blown working.

MZ: A number of groups have been organizing in the hopes they will see the release very early next week.

MZ: I am hearing wonderful chatter and if even half of it comes to fruition it will be one heck of a week for us. Looking at the last day of September and first of October (Monday and Tuesday)

MZ: The big news in the DC area is a stop gap bill to avert the government shutdown. In the senate 78 to 18 to do the stop gap spending.

Member: They all need to go and take the debt they caused with them

Member: I honestly don’t believe Congress has had a balance budget in my lifetime and I’ve been around a while!

Member: Question mark: does it have to be printed in the gazette before we exchange or can we go privately before public/iraq public knows?

Member: I believe All private groups will go before public knows about it……hope we in the internet group on dinar sites are included in those groups.

Member: Thank You Mark, Zester and Mods..

Mark, I would really like to wake up one day to you telling me I don’t have to go to work. Can you make it happen for the love of God??

Member: Just praying super hard this is our “golden” weekend.

Member: Please Lord flip the switch

MarkZ New Discord link:  https://discord.com/invite/AxGE6k4pvx

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Twitch:   https://www.twitch.tv/theoriginalmarkz

Youtube:     https://www.youtube.com/watch?v=6Z1sQ6DENpk

Iraq Economic News and Points To Ponder Thursday AM 9-26-24

Urgent| The Central Bank Of Iraq Decides To Refer The Babylon National Bank To Forced Liquidation
 
September 25, 2024  Baghdad/Iraq Observer  The Central Bank of Iraq decided to refer the Babel Al-Ahli Bank to forced liquidation.
 
According to a document issued by the Central Bank of Iraq, addressed to the Bank of Babylon, and received by “Iraq Observer,”  “It was decided to refer the bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004.” She added:  “Appointment of Ahmed Abdel Mahdi Neama as liquidator of your bank.”

text of the document:  https://observeriraq.net/wp-content/uploads/2024/09/IMG_3517.jpeg
 
Yesterday, Monday, the US Treasury confirmed its support for Prime Minister Muhammad Shiaa Al-Sudani’s reform agenda.
 
The ministry said in a statement received by “Iraq Observer,” that
 
“Deputy Treasury Minister Wali Adeyemo met with Iraqi Prime Minister Muhammad Shia’ al-Sudani on the sidelines of the United Nations General Assembly to discuss
 
     reforming the Iraqi banking sector,
     financial relations with the United States, and
     combating illicit financing.” The statement added,
 
 “The Deputy Minister of Treasury congratulated Al-Sudani on the great progress Iraq has made in reforming the banking sector, which led to
 
     expanding Iraq’s international financial communication and
     increasing financial inclusion.”
 
Adeyemo affirmed, according to the Treasury statement,
 
“the Treasury’s support for the Central Bank of Iraq and Prime Minister Muhammad Shia al-Sudani’s reform agenda.”
 
The Deputy Minister of the Treasury praised the growth of the non-oil economy in Iraq by 6.0 percent, asking about “the steps the Prime Minister is taking to diversify the Iraqi economy from hydrocarbons, according to the US Treasury statement.”
 
It is noteworthy that the Central Bank continues to take procedures and requirements set by the US Federal Bank for the banking system in Iraq.   https://observeriraq.net/عاجل-البنك-المركزي-العراقي-يقرر-احالة/   

Publication Of The Environmental, Social And Corporate Governance (ESG) Standards Guide For Banks
 
September 25, 2024    Based on the decision of the Board of Directors of this bank No. (209) of 2024, which includes the adoption of the Environmental, Social, and Corporate Governance (ESG) standards guide for banks..For more, click here :       https://cbi.iq/static/uploads/up/file-172725786315494.pdf  
 
https://cbi.iq/news/view/2677    

The Economic Committee Supports Imposing Collection Fees On Services
 
The first 09/26/2024  Baghdad: Shaima Rasheed  The Parliamentary Economic Committee expressed its support for imposing collection fees on services.
 
Committee member Representative Yasser Al-Husseini told Al-Sabah that  “there is a trend to enhance non-oil revenues by imposing taxes and organizing collection better,” indicating that
 
“with regard to collection, the government has the right to impose fees on stable services such as water and sewage, but it must ensure continuity and quality.”
 
These services are before fees are imposed on them. 

Al-Husseini believes that  “the imposition of taxes must be linked to the presence of new economic activities, and that the government is obligated to activate its real non-oil resources, such as ports for example, which can generate good profits, making them an important source of income.” 

 He continued, "The government needs to address the gaps in collections and taxes to be able to transform these revenues into an actual source that finances the operational budget, employee salaries, and develops services." https://alsabaah.iq/103293-.html   

Why Is The Government Unable To Curb Foreign Banks' Control Over Financial Policy?
 
Economy ​ 09-22-2024, 16:15 |Baghdad today – Baghdad   Today, Sunday (September 22, 2024), Professor of International Economics, Nawar Al-Saadi, revealed the reasons for the government’s inability to confront foreign banks’ control over financial policy and foreign transfers.
 
Al-Saadi told "Baghdad Today",  "The government's inability to confront foreign banks' control over financial and monetary policy and foreign transfers is due to several main reasons, including
 
     internal challenges related to managing the economy, and
     regional and international pressures."

He added,  "Control over the banking sector in Iraq suffers from the influence of large international economic interests, especially   since many foreign banks dominate the Iraqi market through cross-border partnerships and interests."

He continued,  "This limits the government's ability to impose independent economic policies, and  
these banks may be linked to a network of regional and international interests that pressure the government through multiple channels, which makes taking radical decisions difficult."

He continued,   “There are pressing regional factors, as international and regional powers such as the United States and European countries exercise political and economic influence in Iraq, including the banking sector, which hinders the government’s ability to bring about radical reforms.
 
In addition, the Iraqi economy is fragile and dependent on  This greatly affects external support and oil prices, which increases the impact of these external pressures on financial decision-making.”
 
The professor of international economics added:
 
“As for bearing responsibility, the blame cannot be placed on the Sudanese government now, since  
all successive governments ruling Iraq are all involved in these challenges, which are the main reason for the weakness of financial and administrative policies, and the widespread corruption in the banking system, in every way.”
 
This reinforces this phenomenon,” adding:
 
“Therefore, the matter requires broader coordination and a collective effort among all concerned parties to try to reduce the negative effects of foreign banks on the Iraqi economy.”

Al-Saadi concluded, "In general, it can be said that the Sudanese government, despite its promises of reform, is facing great difficulties as a result of external and regional pressures and international economic interests, in addition to the lack of preparedness of local institutions to deal with this situation effectively."
 
On Friday (September 20, 2024), the expert in banking affairs, Nasser Al-Kanani, stressed the need for Iraqi banks to have a specialized committee working to address failures and problems in the banking sector.
 
Al-Kanani said to “Baghdad Today” that  “the Iraqi government’s step towards forming a higher committee aimed at developing treatments for the work of banks is an important step, although it came late, as  there are many problems and failures in the banking sector, and  this sector in Iraq is still not developed and does not keep pace with development.” banking in countries of the world.

He added,  "The Iraqi government is moving towards forming such a specialized higher committee, after the recent Iraqi talks in New York between the Central Bank of Iraq, the US Treasury, and the US Federal Reserve, which stressed the need to develop the Iraqi banking sector."  https://baghdadtoday.news/258328-ما-السر-وراء-عدم-قدرة-الحكومة-كبح-سيطرة-البنوك-الأجنبية-على-السياسة-المالية؟.html   

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

Seeds of Wisdom RV and Economics Updates Thursday Morning 9-26-24

Good Morning Dinar Recaps,

RIPPLE VS. SEC: HOW THE COURT RULING SETS THE STAGE FOR RLUSD STABLECOIN LAUNCH!

Ripple’s Big Plans in “Uptober”!
Despite the rumors of SEC’s reappeal on XRP status, Ripple is poised for exciting developments next month. Monica Long, Ripple’s president, shared insights into the company’s plans, including:

▪️the upcoming RLUSD stablecoin launch

▪️enhancements to the XRP Ledger (XRPL)
▪️focus on global expansion.

SEC Case Resolved: A New Dawn for Ripple

The court ruling that XRP is not a security has provided Ripple with the clarity it desperately needed. Long noted that this victory benefits Ripple and sets a precedent for the entire crypto industry. Although the SEC might consider an appeal by October 7, however, Ripple remains optimistic about its strong position.

Ripple’s Imminent Launch to Pump the Network

Ripple is set to launch its RLUSD stablecoin by the end of 2024, pending regulatory approval. Backed by U.S. dollars and short-term Treasury bills, RLUSD aims to facilitate transactions for institutional investors without disrupting XRP’s market share. Given its favorable regulatory climate, Garlinghouse views Japan as an ideal market for RLUSD. The stablecoin is beta testing on the XRPL and Ethereum networks.

Beyond the stablecoin, Ripple plans to enhance the XRP Ledger.

Long hinted at introducing “Hooks” to bring smart contract capabilities, complementing existing features like decentralized exchanges (DEX) and automated market makers (AMM). These upgrades aim to make XRPL even more competitive in the enterprise-grade blockchain space.

According to the notable XRPL validator Vet, Ripple’s RLUSD stablecoin launch is nearing. Unusual minting activity, including the recent minting of 5,515 RLUSD tokens on Ethereum, has drawn attention; this raised the total circulating supply to 6,028 tokens and suggests an intensified testing phase. This latest issuance marks the largest since the project began in late August and aims to assess RLUSD’s performance across both the Ethereum and XRPL networks.

Meanwhile, the XRP community is buzzing with speculation about how RLUSD’s debut might affect XRP’s price. Some believe that if RLUSD equals the value of one XRP, it could lead to a significant price increase for XRP, currently valued at $0.5854, well below its previous $1 peak in November 2021.

Global Expansion: Shifting Focus to Asia

While regulatory challenges persist in the U.S., Ripple’s growth is accelerating in Asia, with 40% of its activities now based in the region. Moreover, both Garlinghouse and Long have noted the long-term partnership with Japan’s SBI Group as a crucial driver of XRP adoption, positioning Ripple as a significant player in the future of decentralized finance.

As Ripple embarks on this new chapter, it is set to innovate, expand globally, and redefine the roles of both XRP and the broader blockchain ecosystem.

@ Newshounds News™

Source:  Coinpedia

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Visa Introduces Tokenized Asset Platform for Blockchain-Based Financial Services

Visa has launched the Visa Tokenized Asset Platform (VTAP), a new product designed to help banks issue fiat-backed tokens on the Ethereum blockchain.

This platform aims to digitize and automate the trading of real-world assets, such as commodities and bonds, using smart contracts. VTAP provides financial institutions with the tools and infrastructure needed to tokenize fiat currencies, enhancing transaction speed and security. One of the first banks to use this platform will be Spain’s BBVA, which plans to roll out a live pilot in 2025.

@ Newshounds News™

Source:   Bitcoin News

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PayPal Expands Crypto Services: US Merchants Can Now Buy, Sell, and Hold Bitcoin

PayPal announced that it is now letting US merchants buy, sell and hold Bitcoin and cryptocurrencies directly from PayPal business accounts.

PayPal announced that it is now letting US merchants buy, sell and hold Bitcoin and cryptocurrencies directly from their PayPal business accounts. The new capabilities, however, will not be available for users in New York, the company said.

As demand for expanded cryptocurrency capabilities is on the rise, PayPal decides to bring up new offerings.

Jose Fernandez da Ponte, Senior Vice President of Blockchain at PayPal, said that since the company rolled out features allowing users to buy and sell cryptocurrencies within their existing PayPal and Venmo accounts, it has the opportunity to observe and analyze user behavior.

PayPal Opens The Door For Crypto Business

The new feature was a result of the insights PayPal has got. It aims to address the growing demand among business owners for cryptocurrency functionalities, according to da Ponte. PayPal expects the feature to help businesses interact with cryptocurrencies with ease.

“Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly,” da Ponte stated.

Alongside the offering, PayPal also enables businesses to transfer their cryptocurrencies to “third-party eligible wallets.” This allows them to send and get tokens to and from external blockchain addresses like cold storage wallets, which could help enhance security.

@ Newshounds News™

Read more:  Blockonomi

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News, Rumors and Opinions Thursday AM 9-26-2024

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

RV Excerpts from the Restored Republic via a GCR: Update as of Thurs. 26 Sept. 2024

Compiled Thurs. 26 Sept. 2024 12:01 am EST by Judy Byington

Be Prepared – On Tues. 1 Oct. 2024:

U****c. ( no idea what this word is?) Corp. dissolves, ending the fiat monetary system and closing U****c. government. The privately owned Federal Reserve and IRS will shut down. Its fiscal year ends, and it’s been bankrupt since 2008. No Congressional budget approvals, just running on fumes with a fiat dollar.

The Cabal’s Blackrock – the Deepstate’s financial arm, controlling more wealth than entire nations has already declared bankruptcy.

45,000 ILA workers at major ports will go on strike as unions push for a 77% wage increase. Half of US goods go through those ports. For each day of the strike, it will take one week to recover, severely disrupting the supply chain. Stock up on goods.

All banks worldwide not Basel III Compliant (have gold backing to their monies) will be closed. The Basel III regulations could alter the real estate market in unprecedented ways.

In the first week of October the Emergency Broadcast System will activate and broadcast documentaries 24/7 on the state of the World.

With the QFS activation governments as we know them will shrink by 90-95%.

NESARA GESARA begins as countries worldwide activate the gold/asset-backed Quantum Financial System and Global Currency Reset. The BRICS nations will head the greatest wealth transfer in history. 134 nations are ditching the fiat US dollar and moving to gold-backed currencies. Each of these currencies will trade at a 1:1 ratio.

The new United States of America Republic will start its new fiscal year under a gold-backed US Note as part of the Global Currency Reset.

OPEC+ nations may announce further cuts to oil production, potentially driving up global energy prices.

After a long hiatus, millions of Americans will have to resume paying student loans, impacting their disposable income.

LIBOR is slated to be replaced by SOFR, marking a significant change in financial benchmarks.

Several key corporate earnings reports and economic forecasts are expected, with the potential to greatly affect already volatile markets.

The imposition of new tariffs, as trade disputes between major economies escalate, threatens to impact the cost of imports and manufacturing.

Pandemic-related housing protections, such as eviction moratoriums and mortgage forbearance programs, are scheduled to expire.

Fears of a debt crisis in emerging markets continue to rise, fueled by climbing interest rates and global economic pressures, with potential fallout for currencies.

As October 1st marks the start of the new fiscal year for many organizations, we could see budget reshuffling, layoffs, or major strategic shifts.

All of these factors are driving us towards historic events that could change the direction of this country forever. The Deepstate is well aware that there’s no turning back after this point. Expect them to fight back with everything they have, because our future means the end of their reign. They don’t want you to reach that moment of victory.

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Global Currency Reset:

Wed. 25 Sept. 2024 Wolverine:

On Tuesday, October 1, 2024, U****c.(????) Corp. dissolves – ending the fiat monetary system experiment. The gold and asset-backed quantum financial system is ready, set, and taking over. On October 1, 2024, the U****c. corporation fiscal year ends and it has been bankrupt since 2008. There are no budget approvals from Congress, it just runs on fumes with a fiat dollar.

Now, the Federal Reserve and IRS will shut down along with it. And let’s not forget Blackrock, the financial arm of the Deepstate, which controls more wealth than entire nations. They have already declared bankruptcy. If a bank does not comply with Basel III (not gold backed), it will close on October 1st.

The first week of October will change everything. The Emergency Broadcast System will break the silence and reveal all hidden truths. Countries around the world are preparing to activate the Quantum Financial System (QFS).

The BRICS nations are also making their move, with the largest transfer of wealth in history. 134 nations are abandoning the fiat US dollar and moving to gold-backed currencies. Each of these currencies will trade on a 1:1 ratio, leveling the playing field like never before.

The new Republic begins. On October 1st, the United States will begin its new fiscal year with a gold backed US banknote as part of the global monetary reset.

Tues. 24 Sept. 2024: BREAKING! Steve Quayle Reveals Walmart Canada No Longer Accepts U.S. Dollars – A Harbinger of the U.S. Dollar’s Total Collapse – amg-news.com – American Media Group

Read full post here:  https://dinarchronicles.com/2024/09/26/restored-republic-via-a-gcr-update-as-of-september-26-2024/

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

Bruce   [via WiserNow]  Some people believe, Oh, it's all going to go it's going to start on the first of October. That's not what we're getting. That's not what my sources are saying. They're saying we're going to get this before the end of the month, or by the end of the month...

Frank26   [Iraq boots-on-the-ground report]  FIREFLY:
On our television we're now seeing Kurdistan news on our television.  We are seeing the Kurdish news is now talking about Iraq is planning on a currency redenomination.  They're saying Iraq is going to delete the three zeros and this will bring value to the currency of Iraq and it will facilitate financial transactions.  FRANK: ...Does it get any better than that?!  ...Re-denomination means they will replace the 3-zero note with lower notes because the new exchange rate will only work with the new lower notes they're about to give you.

The situation in Iraq is good. There’s no fear of a national crisis.

Nader:  9-26-2024

https://www.youtube.com/watch?v=DGPWEOn3uJ0

BE PREPARED: Nearly 50% of ALL US Imports to Halt Due to Massive Port Strikes on October 1st

Lena Petrova:  9-25-2024

https://www.youtube.com/watch?v=bnCOjC9X2-0

Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Electronic Money Transfers

Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Electronic Money Transfers

MilitiaMan and Crew:  9-25-2024

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=BYeHTcUYJww

Iraq Economic News and Points To Ponder Wednesday Afternoon 9-25-24

What Is Iraq's Connection? An Economist Diagnoses The Reasons For The "Pessimistic" Expectations Regarding Oil Prices In The Coming Months

 Energy   Economy News – Baghdad Financial expert, Aqbal Jabr Al-Muhammadawi, explained today, Wednesday, the reasons for the expectations that confirm the decline in oil prices in the coming months to $60, while he touched on Iraq’s position.

Al-Muhammadawi said in an interview with Al-Eqtisad News, "The return of the oil price fluctuations crisis in global markets with the importance of expectations and predictions regarding the expected decline in oil prices in the coming months according to the Citigroup Bank memorandum to $60 per barrel based on intellectual foundations and experiences in diagnosis, analysis, forming scenarios, estimates of building oil prices and studying the market."

He added: "It is clear that the atypical changes in geopolitical variables and other external factors affecting oil prices are being ignored, as well as the repercussions of market dynamics that keep pace with global, objective and realistic changes and developments."

He continued: "One of its most important results is obstructing Iraq's path following in the footsteps of Venezuela, Ecuador and others, due to reasons of vigilance, shock, and the return of realistic awareness and sound systematic thinking to form economic and financial decisions according to realistic and objective economic methodological foundations." https://economy-news.net/content.php?id=48003

Minister Of Transport Discusses With The International Maritime Organization Returning Iraq To The White List

Money and business  Economy News – Baghdad  On Wednesday, Minister of Transport Razzaq Muhaibis Al-Saadawi discussed with the Secretary-General of the International Maritime Organization, Arsenio Dominguez, in London, the procedures for returning Iraq to the International Maritime Organization’s white list.

The Ministry of Transport said in a statement, seen by "Al-Eqtisad News", that "Minister of Transport Razzaq Muhaibis Al-Saadawi, accompanied by MP Zahra Al-Bajari, Head of the Parliamentary Transport and Communications Committee, Chairman of the Iraqi Maritime Authority Abdul-Azim Ghafil, Director General of Ports Farhan Al-Fartousi, Director General of Maritime Transport Ahmed Jassim Al-Asadi, Maritime Attaché at the Iraqi Embassy and Deputy Permanent Representative to the Organization Mazen Al-Kaabi, visited the headquarters of the International Maritime Organization in London to discuss ways to enhance and develop joint cooperation between the two sides.

" The statement added, "The Minister of Transport met with the Secretary-General of the International Maritime Organization Arsenio Dominguez to discuss procedures for returning Iraq to the IMO's white list."

He continued, "Al-Saadawi reviewed the advanced stages that Iraq has reached in implementing international requirements in the field of protecting ships and the lives of workers in the maritime sector, and working towards a blue environment," expressing his hope that "cooperation between the organization and the Iraqi Maritime Authority will be in a broader field through exchanging visits to specialized workshops, to proceed with implementing all international requirements."

The Minister of Transport extended an invitation to the Secretary-General of the International Maritime Organization to visit Iraq and see the Iraqi maritime sector, while Dominguez appreciated the efforts of the Ministry of Transport to re-include Iraq in the white list of member states of the International Maritime Organization, stressing, "to respond to the invitation to visit Iraq, early next year." https://economy-news.net/content.php?id=48015

Rafidain Bank Announces The Collection Of More Than 3 Trillion Dinars Through Electronic Collection Transactions From State Departments And Institutions Within 9 Months

Wednesday 25 September 2024 | Economic Number of readings: 188  Baghdad / NINA / Rafidain Bank announced the total amounts of financial settlements related to electronic collection movements from state departments and institutions that have activated electronic collection and switched to electronic transactions and collected bills and fees from beneficiaries electronically via bank cards and POS devices.

The bank stated in a statement that more than 3 trillion dinars is the value of the amounts collected during the first nine months of this year, indicating that this achievement represents the great interaction using electronic payment in financial transactions and ensuring the preservation of money movement paths and making them in a safe and transparent environment. / End9

https://ninanews.com/Website/News/Details?key=1157326

The Central Bank Of Iraq Decides To Close The Babylon Bank

Banks  Economy News – Baghdad   According to a document issued by the Central Bank of Iraq, addressed to the Babylon Bank, and received by "Al-Eqtisad News", it decided to "refer the bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004. He added: "Appointing Ahmed Abdul Mahdi Nehme as liquidator of your bank."

https://economy-news.net/content.php?id=47992

Iraq Ranks Eighth Among The Largest Importers Of American Rice

Wednesday 25 September 2024 | Economic Number of readings: 120  Baghdad / NINA / While the United States of America represents less than 2% of global rice production, it ships nearly 5% of global exports, and is currently the fifth largest exporter. Therefore, exports are important for the rice industry in the United States, as about 45% of the crop is exported each year.

According to the US Department of Commerce, "Iraq ranked eighth in the largest importer of American rice for the year 2023."

The ministry stated in a table that "the countries importing American rice for the year 2023, Mexico came in first place as the largest importer of American rice with 638.1 thousand tons, followed by Central America in second place with 633.3 thousand tons, followed by Haiti in third place with 421 thousand tons, Japan comes in fourth with 293 thousand tons, and Canada comes in fifth with 250.7 thousand tons."

She added, "Colombia came in sixth place with 136 thousand tons, South Korea came in seventh place with 132 thousand tons, Iraq came in eighth place with 111.3 thousand tons, Saudi Arabia came in ninth place with 109.6 thousand tons, Venezuela came in tenth place with 82.4 thousand tons, Jordan came in eleventh place with 64.8 thousand tons, Taiwan came in twelfth place with 56.1 thousand tons, the Dominican Republic came in thirteenth place with 25.9 thousand tons, and the United Kingdom came in fourteenth place with 24.9 thousand tons."  https://ninanews.com/Website/News/Details?key=1157403

Parliamentary Opinion: Iraq Is Experiencing Stable Economic Conditions With A Financial Surplus

Economy  |  09/25/2024 Mawazine News – Baghdad  The Parliamentary Finance Committee confirmed that Iraq's financial and economic situation is good, and that revenues exceed the fears resulting from the possibility of a global decline in oil prices.

Member of the Parliamentary Finance Committee, Jamal Kocher, stated in a statement that "oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall to less than $70."

He stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis." https://www.mawazin.net/Details.aspx?jimare=255398

Oil Prices Stabilize, Brent Hits $75 A Barrel

Economy  |  09/25/2024  Mawazine News – Baghdad  Oil prices steadied on Wednesday after rising in the previous session as excitement over economic stimulus in China, the world's biggest crude importer, faded, but an industry report showing a drop in U.S. crude and fuel inventories supported the market. Brent crude futures were up 3 cents at $75.20 a barrel by 00:04 GMT,

U.S. West Texas Intermediate crude lost 2 cents to $71.58 a barrel. Prices rose about 1.7% on Tuesday after China announced its strongest economic stimulus since the COVID-19 pandemic, with interest rate cuts and government funding. But analysts warned that more fiscal aid was needed to boost confidence in the world’s second-largest economy, blunting the initial impact on oil prices from the announcement.

U.S. crude inventories fell by 4.34 million barrels last week, while gasoline stocks fell by 3.44 million barrels and distillate inventories fell by 1.12 million barrels, according to market sources, citing figures from the American Petroleum Institute on Tuesday. https://www.mawazin.net/Details.aspx?jimare=255382

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 9-25-24

Good Evening Dinar Recaps,

BRICS NEWS:

BRICS EXPANDS: 23 COUNTRIES APPLY, 159 NATIONS ADOPT BLOCKCHAIN-BASED PAYMENTS

▪️23 countries have applied to join the BRICS alliance, with 24 more expressing informal interest, totaling 47 nations.

▪️BRICS is promoting de-dollarization, aiming to use local currencies for trade instead of the US dollar, which could impact various US sectors.

According to recent reports, 23 countries have formally submitted their applications to join the BRICS alliance before the 2024 summit, global economic shifts are taking center stage.

The BRICS countries, Brazil, Russia, India, China, and South Africa, have become popular among the new members of emerging markets, mainly from Asia, Africa, and South America, to expand their trade operations using

The growing interest in BRICS reflects a broader movement toward de-dollarization, where nations seek to reduce dependency on the US dollar for international trade.

The alliance has promoted local currency usage as a means of boosting economic independence, with developing countries viewing this initiative as beneficial to their own financial systems. 

In addition to the 23 nations that have officially applied, another 24 countries have expressed informal interest in joining BRICS, bringing the total number of potential members to 47.

This could be a major blow to some of the biggest industries in the United States since the country’s economic dominance has been rooted in the use of the US dollar internationally.

The de-dollarization process, strengthened by BRICS countries, maybe the first step in shifting the current world’s financial system paradigms.

Internal Divisions Emerge Over BRICS Enlargement Process
The next BRICS summit is planned for October 22-24 in the Russian region of Tatarstan, Kazan and will consider the admission of new members as well as other important issues.

However, the existence of the alliance has been marked by internal conflicts on the issue of expansion. While China and Russia have supported the idea of the expansion of the bloc, India has urged the need for a moratorium on the enlargement process for at least five years.

Key discussions at the summit are likely to revolve around trade agreements and the extended use of local currencies for cross-border transactions, a core objective of BRICS’ de-dollarization efforts. 

The expansion debate will be closely watched as the alliance continues to shape its role in the global economic landscape.

BRICS Explores Blockchain-Based International Payment System
Over the past few months, BRICS has increased its activities to develop new financial structures that are designed to weaken the dollar. 

As Crypto News Flash stated earlier, the bloc is now considering the possibility of creating an international payment system that will be based on the blockchain and will involve more than 159 foreign partners. It would prefer transactions in other currencies than the dollar, for example, the ruble or the yuan.

However, there has been a lot of misconception concerning the initiative, and it has been rumored that 159 countries had signed up for the system prior to its launch. However, such claims have been discredited, and there is no evidence to support such a high level of engagement.

BRICS’ pursuit of de-dollarization and alternative financial systems signifies a transformative period in international trade, where local currencies and advanced technologies could redefine economic interactions across borders.

@ Newshounds News™

Source:  Crypto News Flash

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DTCC TOKENIZATION PILOT FINDS 'SIGNIFICANT' IMPROVEMENTS TO LIQUIDITY AND COLLATERAL OPTIMIZATION

The Depository Trust & Clearing Corporation’s latest blockchain pilot found “robust functionality and potential” for tokenizing Treasuries.

The Depository Trust & Clearing Corporation has announced the results of its U.S. Treasury Collateral Network tokenization pilot, finding “robust functionality and potential” for distributed networks.

Four investors, four banks, two central counterparties and three custodians participated in the experiment, which tested 10 different use cases. The financial privacy-focused Canton Network was tapped for the effort.

“The successful completion of this pilot proves that tokenized assets could be leveraged to optimize collateral,” Kelly Mathieson, chief business development officer at Digital Asset, a firm involved in the pilot, said in a statement.

The pilot was conducted between June and July to test the feasibility of “complex real-world transactions” like cloning and settling a “digital twin” for U.S. Treasuries. It also looked into real-time margin calls, asset recalls and other portfolio management services.

“In hypothetical default scenarios, secured parties seized pledged assets, transferring ownership in atomic transactions, ensuring legal certainty and control,” DTCC wrote in a press release.

Nadine Chakar, longtime blockchain advocate and global head of DTCC Digital Assets, noted in particular that the system “significantly” improved liquidity and collateral optimization.

DTCC has been experimenting with blockchain since at least 2020, when it launched a pilot program called Project Ion looking to test out alternative settlement methods. The firm is responsible for clearing several hundreds of trillions of dollars worth of transactions annually.

@ Newshounds News™

Source:  The Block

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RIPPLE’S PARTNERS DLOCAL AND SHOPEEPAY EXPAND TO SOUTHEAST ASIA

▪️dLocal expands partnership with ShopeePay, reaching 200 million new e-commerce customers across four Southeast Asian countries.

▪️Ripple’s network strengthens in Asia as dLocal, Tranglo, and Instarem enhance cross-border payment solutions.

The most recent developments from Ripple’s ecosystem show considerable growth for its users and partners in the Southeast Asian e-commerce business. dLocal, a RippleNet-based payment platform since 2017, has announced an expanded relationship with ShopeePay, allowing its merchants to accept payments in four new markets: Thailand, Malaysia, Indonesia, and the Philippines.

This move significantly expands access to an estimated 200 million additional e-commerce buyers in Asia. The fact that ShopeePay is powered by Tranglo, another Ripple partner, adds to Ripple’s regional prominence.

dLocal Expands with ShopeePay Thailand, Adding Payout Solutions
Furthermore, dLocal does not limit itself to pay-ins. In conjunction with ShopeePay Thailand, the company is expanding its offerings to include merchant payout options. 

This dual functionality considerably improves the seamlessness of payment processing, allowing businesses to receive payments more swiftly while also handling disbursements with greater simplicity.

This cooperation underscores dLocal’s efforts to reestablish its footprint following a period of setbacks, demonstrating renewed growth and a commitment to growing its services in emerging regions.

Previously, CNF reported that Tranglo expanded its services to Brunei, with the goal of providing migrant workers with faster and more secure remittance choices using Ripple’s blockchain technology.

This expansion highlights the growing importance of blockchain in improving cross-border payment solutions, and Tranglo’s efforts to integrate Ripple’s technology demonstrate the potential efficiencies it may bring to financial transactions.

As we previously highlighted, Instarem, another Ripple affiliate, has also made considerable gains in cross-border payment procedures by integrating Apple Pay with their Amaze card.

This integration improves the convenience of contactless payments across borders via mobile devices, demonstrating how Ripple’s network of partners is always growing to provide cutting-edge solutions for a wide range of payment requirements in the digital era.

@ Newshounds News™

Source:   Crypto News Flash  

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GOLD RUSH! LETS DIG IN  | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team Currency Facts  

~~~~~~~~~

Seeds of Wisdom Team Currency Facts Youtube and Rumble

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Subscribe to Newsletter

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