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Hugh Madden on the Real Threat From Facebook's Libra
Hot on the heels of a massive privacy scandal, Facebook announced Libra, and naturally, it sent regulators and media people in a tizzy. But were the potential privacy and money laundering issues they raved about the real threat? BC Group CEO Hugh Madden says no. Speaking to a packed crowd at Block O2O: The First Global Crypto – Libra, Madden
Takeaways on the Yield Curve Inversion
Economic Blog A closely watched point on the Treasury yield curve has fallen negative for the first time in this economic cycle. As shown in the LPL Chart of the Day, Yield Curve Inversion Raises Economic Questions, the spread between the 2-year and 10-year Treasury yields fell as low as -2 basis points (-0.02%) in trading on August 14. Read
Uber Opens A New Fintech Office In New York City
FinTech
During a recent recruitment event, Uber Technologies Inc (NYSE:UBER) announced plans to accelerate the growth of its sideline business in financial products by opening a new fintech office in New York City. Fintech expert Monica Eaton-Cardone says that Uber’s primary goals are to encourage customer loyalty within its rideshare and food delivery businesses and help independent contractors manage earnings. freestocks-photos /
Commerzbank Tests Blockchain-Based Payments For Machine-To-Machine Transactions
Major German bank Commerzbank announced that it has developed a blockchain-based payment solution that specifically automates machine-to-machine (M2M) payment processes. This pilot project is in collaboration with Daimler Trucks, with this M2M payment part of the test for the direct handling of charging operations of electrically powered trucks. The automated payment pilot involves the transaction process between an electric truck
Asia’s Richest Man to Build India’s Largest Blockchain Network
Blockchain
Reliance Industries chairman, Mukesh Ambani, is looking to build one of the world’s largest blockchain networks over the next 12 months, according to Coin Geek. The network will be built by Reliance’s telecom subsidiary, Reliance Jio Infocomm, and will reportedly have “tens of thousands” of operational nodes on day one. Ambani, who shared his plan at a recently held annual
A Sustainability Framework: Societal Shifts as Investment Risks
Successful long-term investing depends upon the identification of sustainable companies. We believe traditional investment analysis tends to underestimate some risks faced by companies today. In particular, we see rising risks to sustainability from the potential breakdown of relationships between industries and companies with society. Each company and industry operates under a "societal license” that, if damaged or revoked, can ultimately
New Zealand Legalizes Salary Payments In Crypto
It was announced yesterday that New Zealand has become the first country ever to legalize salary payments in cryptocurrency. geralt / Pixabay This ruling was signed on June 27 by the Inland Revenue Department (IRD) agency’s Director of Public Rulings, Susan Price. It will be put into effect for three years from September 1, 2019. The ruling states that the
Canadian Pacific Railway Joins Blockchain In Transport Alliance
Blockchain
Canadian Pacific Railway (NYSE: CP) has joined the Blockchain in Transport Alliance (BiTA). In joining the Alliance, CP is supporting BiTA's mission of producing blockchain  standards that allow for interoperability between participants in the global supply chain. Blockchain is an open, extensible platform capable of sharing shipping events, messages and documents across all the actors and systems in the supply
North Korea’s Nuclear Program Partially Funded by ‘Large Scale Attacks Against Cryptocurrency Exchanges’
North Korean hackers have reportedly stolen up to $2 billion to help fund the country’s nuclear program, the SCMP writes citing a report to the United Nations Security Council. North Korea is using cyberspace “to launch increasingly sophisticated attacks to steal funds from financial institutions and cryptocurrency exchanges to generate income” in violation of sanctions. Cryptocurrency exchanges deal in virtual
Report: The People's Bank of China's Digital Currency Is Now 'Ready'
Barely a month after it accelerated its crypto plans, China’s central bank digital currency (CBDC) is now reportedly “ready.” The Token Post, citing the Shanghai Securities News, reported yesterday that the Middle Kingdom will be rolling out its CBDC “soon.” Mu Changchun, deputy chief of the People’s Bank of China’s payments and settlements unit, said that the CBDC prototype is