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Barclay And UBS’ Digital Settlement Coin Project Is Delayed

Barclay and UBS’ digital settlement coin project got delayed until at least 2021 according to the latest announcement that we have in our latest crypto news. The Fnality International Project aims to revolutionize how the world’s biggest banks settle payments. A few banks are now a part of the Fnality International project that is working […]

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Barclay and UBS’ digital settlement coin project got delayed until at least 2021 according to the latest announcement that we have in our latest crypto news.

The Fnality International Project aims to revolutionize how the world’s biggest banks settle payments. A few banks are now a part of the Fnality International project that is working to create a digital version of five major fiat currencies including the Yen and the Dollar. However, Barclay and UBS’ digital project is now delayed until 2021 as it seeks regulatory approval.

fnality
Image: Fnality

Last year, Credit Suisse Group AG, Banco Santander, Barclays, and other top major banks in the world announced that they poured 50 million pounds into the project that will create a digital version of the US dollar, British Pound, Canadian Dollar, and the Japanese yen. The plan was that those digital currencies will be ready by this year and as it turns out the project will not arrive until at least 2021. The project named Fnality is the brainchild of the UBS Group AG which is a Swiss-based investment bank that managed to bring its competitors abroad because they will benefit from the ultimate goals of the project.

The settlement is the difficult process by which financial institutions clear the transactions so that everybody in the payments ecosystem will get the money they are owed. It involves moving money from the buyers’ accounts into the sellers’ accounts without the fees for credit card processors. Now, the banks made the transaction possible. Known as the Utility Settlement Coin, Fnality was ready to make this process simpler and faster. It also had a role to play into the crypto world as people trade crypto-assets for cash. Bitcoin can settle quickly but fiat cash still doesn’t and this is where the tokenized global currencies are coming in, hooking into the enterprise blockchains alike.

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The details were being ironed out as well as the regulatory approvals. According to the reports, Fnality International head Rhomaios Ram is looking towards the approval at some point at the start of 2021. This means they are waiting for a green light from a central bank that they could be interested to see before rolling out a state-run version.

The US, Japan, UK, Canada, and Europe are straying central bank digital currencies and learn how they can be different from these privately created ones. In July for example, the Bank of Japan and its department director-general told the Japanese newspaper that the central bank was moving on with the CBDCs but he didn’t say when.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/altcoin-news/barclay-and-ubs-digital-settlement-coin-project-is-delayed/

Blockchain

All Eyes on Ethereum

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One Ether now costs more than US$3000. Did you ever think you’d see the day?

You gotta hand it to the crypto markets: in some ways they’re comically predictable. A month ago, Ethereum was everyone’s favourite whipping boy, a bloated, expensive under-achiever that couldn’t even double its 2017 all-time high. Lol what a weakling.

And with competitors like Cosmos, Solana, Polygon and Polkadot nipping at its heels, perhaps this was the beginning of the end for the network that gave us smart contracts, ICOs, ERC-20 tokens, DeFi, yield farming, NFTs and, to be honest, the entire idea that blockchain was a multi-functional and era-shaping technological breakthrough that you ignored at your peril.

How things have changed. On Monday Ethereum blasted through the US$3000 mark like it was barely there, throwing on an extra 15% while it was at it. The network is now worth a shade under US$400 billion, putting it on par with Mastercard and Walmart, and officially making Vitalik Buterin, the 27-year-old prodigy who created Ethereum, a bona fide billionaire. So, is this how the Flippening begins?

Network to net worth

Due to the speed with which things move in crypto, we tend to underestimate some of the metrics that actually speak to a technology’s success. The new shiny thing is almost always more exciting than some dusty old contraption built in the positively prehistoric year of 2015. Did they even have electricity back then?

But Ethereum stands out from almost all other blockchains in that it’s already being used, at scale, by millions of people and companies. While that may seem like Business 101 – get more customers, be more successful – when it comes to blockchain usage is a particularly powerful factor because of the way it harnesses network effects to improve the value of the system itself. Use it more and the whole system becomes more valuable, both financially and practically, for the network’s users, miners, stakers, investors and developers. Oh, and Vitalik, of course.

How far we’ve come

Ethereum’s issue has always been its inability to scale. If you can’t handle hundreds or even thousands of transactions a second, then you’re not really fit for purpose as a global computer. The result for Ethereum has been a year of increasing network congestion and brutally high transaction fees. Yet the fact that so much continues to be built and transacted on Ethereum tells you exactly how strong these network effects already are.

There’s also an increasing focus on three major changes to the Ethereum network due to arrive before the end of the year:

  • EIP-1559: Lifts one of DeFi’s major innovations in the field of ‘tokenomics’ by implementing a token burn system on every transaction. You use the Ethereum network, you burn some ETH, never to be seen again.
  • Optimism: due for a full launch in July, the Optimism sidechain should significantly improve the speed of Ethereum by leveraging largely incomprehensible processes such as ZK-Rollups and Sharding. It’s already being used by the Synthetix protocol, where it has saved users over $10 million dollars in transaction fees.
  • Ethereum 2.0: This is the big one, Ethereum’s transition from Proof-of-Work to Proof-of-Stake. It’s been coming for years, but the importance of the change cannot be overstated. Already more than 4 million Ethereum are being staked on the Ethereum 2.0 contract, offering an insight into how much ETH might fall out of circulation once the entire thing goes live (potentially in November).

In short, Ethereum is just getting started. The price might seem gaspingly high right now, but remember that Ethereum isn’t trying to be Walmart or Mastercard. It wants to be the thing that Walmart and Mastercard are built on – and that’s a prospect worth having a stake in.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.coinjar.com/all-eyes-on-ethereum/

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Blockchain

CARBON: A perfect avenue for showcasing talent

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Creative professionals sometimes find themselves figuring out where to showcase their creations and profit from them. 

It’s a tough situation to be in. But with CARBON, the dilemma is lessened. 

CARBON creates an avenue that gives creators both a place to show off their talents and a chance to earn money.

CARBON features an ecosystem of a global scale that integrates open finance, fashion, art, music, and non-fungible tokens (NFTs).

One of its objectives is to enable a community that can inspire, support, and reward professionals.

What the CARBON marketplace looks like

As what an ideal marketplace should be, CARBON has a lot to offer, helping emerging brands and artists have a shot even at the highest levels of competition they have to deal with.

Items related to fashion, art pieces, music, and digital assets such as NFTs are offered in the CARBON marketplace. A dedicated team will carefully select these products.

The market will also see exclusive collaborations featuring various artists and brands for physical commodities and digital items that will be dropped on a weekly basis.

As for its audience, they should prepare for a diverse experience brought by a market evolving into a global ecosystem.

About CARBON

CARBON was founded by Chad Pickard who also acts as its Chief Executive Officer (CEO). It is an open finance wallet and super ecosystem that is built for the whole world of fashion, art, music, and culture while also integrating digital assets through NFT offerings.

It has its native token, the $GEMS, and its wallet integrates Neobank functions like the financial technology company Revolut and a non-custodial smart wallet for decentralized finance (DeFi) and cryptocurrencies.

This integration allows users to hold fiat (government-backed) and digital currencies as well as NFTs in a single platform.

The wallet is linked to the market, giving users the ability to directly select items that they desire.

CARBON doesn’t just work as a marketplace where purchases can be made, but also as an avenue where professional creators get to showcase their talents and inspire others to promote their own. It provides them with a winning environment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/bitcoin/carbon-a-perfect-avenue-for-showcasing-talent/

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Blockchain

How Tokenplace can help crypto traders get the best buy and sell prices

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Any seasoned crypto trader knows that the price of a digital currency can vary across different exchanges worldwide.

Thus, one of the basic strategies for investing in digital currencies is to scout for the best buy or sell price and that’s where Tokenplace comes in.

Access to different crypto exchanges via one platform

To take full advantage of the price variance across exchanges, some traders often resort to opening accounts on different platforms. But Tokenplace eliminates this need because the platform allows one to access different exchanges worldwide.

This means that a user will only need his Tokenplace account and password to gain access to the entire crypto market. This is a lot simpler compared to having to main multiple accounts and passwords for other exchanges for different trading pairs.

Tokenplace is basically an online trading platform and exchange aggregator. With its automated order-splitting, orders are automatically broken up to ensure that traders get the best price for every coin they want to trade.

Easy to use and features-packed trading terminal

Tokenplace is also very appealing to newer investors because it is very easy to use. For instance, users will only need to access a single window for their deposits, withdrawals, trading, and exchanging.

The platform can be accessed from both desktop and mobile devices. Tokenplace’s onboarding and one-time registration process are also one of the quickest in the industry.

Tokenplace uses advanced algorithms for its multi-exchange order splitting feature. With this high-tech tool, users can get the best buy and sell price every time they trade.

Website: https://tokenplace.com/
Twitter: https://twitter.com/TokenplaceTOK
LinkedIn: https://www.linkedin.com/company/tokenplace

IMPORTANT NOTE: This is a paid press release, which BitcoinerX has posted as part of a commercial agreement. BitcoinerX is not responsible for producing this content and does not endorse the products or services mentioned. It is the responsibility of the company posting the press release to ensure the material is credible and accurate. BitcoinerX is not responsible for any damage or loss caused to anyone who chooses to use the company, product or services mentioned in the press release. BitcoinerX does not recommend using the information in the press release to form the sole basis of investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/how-tokenplace-can-help-crypto-traders-get-the-best-buy-and-sell-prices/

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