Fed Chair Jerome Powell Discusses Leveraging an Ethereum-Based Libor Replacement

The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be for everyone. The United States Federal … Read more

China’s Big Lenders and Fintech Firms to Distribute Virtual Yuan Tokens, which will be Highly Traceable, Potentially Amplifying Government’s Power: Report

Andy Mukherjee argues in a recently published Op-Ed in the Washington Post that the virtual yuan could potentially transform “the relationship between money, economic power, and geopolitical clout.” The digital renminbi has been under development since 2014. Its top-level design was recently finalized and its pilot has been launched in several major Chinese cities. Mukherjee … Read more

Wild Satoshi Theories: The Curious Case of Bitcoin Block 3654 from 2009

On Wednesday, 50 bitcoin mined on February 9, 2009, was moved from the original address to a new address. The movement of coins caused a great commotion throughout the cryptocurrency community, as some individuals assumed it may have been the mysterious Satoshi Nakamoto. However, skeptics believe that even though the coins stemmed from an address … Read more

A Fintech-Inspired Approach to Contact Tracing

    By Chris Brummer* China tracks individuals without their permission. And the United States won’t do so at all. The question, increasingly, is whether there’s something in between. The objections to China’s approach are pretty obvious. The crisis offers an opportunity for the country’s leaders seeking to extend the authority of China’s Communist Party … Read more

Crypto Community Slams Binance Smart Chain Over Centralization

Many crypto analysts have criticized the whitepaper for Binance’s forthcoming ‘Smart Chain’, which was published on April 17. Smart Chain will be Binance’s second smart contract-enabled chain after Binance Chain. It offers the additions of full compatibility with Ethereum (ETH) and a delegated proof-of-stake, or DPoS, governance system with 21 node operators elected by Binance … Read more

One-Man Crypto Company Crushed by Netherlands’ AMLD5 Implementation

Dutch Bitcoin (BTC) savings platform, Bittr, has decided to cease operations ahead of Holland’s introduction of the EU’s AMLD5 anti-money laundering, or AML, regulations. Bittr’s closure follows criticism of the Netherlands’ implementation of AMLD5 — reportedly resulting in crypto firms incurring greater fees than credit card companies and traditional trusts. Dutch AMLD5 Forces Closure of … Read more

The pandemic has messed up global supply chains. Blockchains could help.

The novel coronavirus sweeping the globe has exposed how vulnerable international supply chains are to disruption. The World Economic Forum has a pitch for how to make them more resilient: blockchains. Covid-19 chaos: Quarantines, lockdowns, and reduced air travel have disrupted normal business operations all over the world and made it difficult for buyers to … Read more