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Bank Of England Governor Might Open Opportunity For Ripple Tech, Says That Payments Across Borders Should Be Indistinguishable From Those Across The Street

The Governor of the Bank of England, Mark Carney, has vowed to transform the central bank in preparation for the upcoming “fourth industrial revolution.”

Speaking at the Innovate Finance Global Summit, Carney said that he would focus on encouraging innovation among fintech startup, and making climate change and Artificial Intelligence (AI) priorities.

Carney stressed on the emerging digital economy, which many developing nations are preparing for by embracing blockchain technology and decentralized systems.

The Governor of the Bank of England, Mark Carney, has vowed to transform the central bank in preparation for the upcoming “fourth industrial revolution.”

Speaking at the Innovate Finance Global Summit, Carney said that he would focus on encouraging innovation among fintech startup, and making climate change and Artificial Intelligence (AI) priorities.

Carney stressed on the emerging digital economy, which many developing nations are preparing for by embracing blockchain technology and decentralized systems.

The second great wave of globalisation is cresting. The Fourth Industrial Revolution is just beginning. And a new economy is emerging. That new economy requires a new finance. A new finance to serve the digital economy, a new finance to support the major transitions underway across the globe, and a new finance to increase the financial sector’s resilience.

Carney also spoke of the changing nature of the way we exchange value,

Consumers and businesses increasingly expect transactions to be settled in real time, checkout to become an historical anomaly, and payments across borders to be indistinguishable from those across the street.

Though Ripple is not mentioned by name, the kind of solutions that Ripple offers is a partial answer for the kind of upgrade that Carney speaks of. The cross-border solutions that Ripple provides has been warmly welcomed by banks across the world.

Earlier this year, the World Economic Forum released a report that showed over 40 central banks across the world were conducting research and/or implementing blockchain solutions. Certainly there is a lot to be gained by established entities adopting the technology, IMF Managing Director, Christine Lagarde, has also said that “cryptocurrencies clearly shake the world.”

Abhimanyu Krishnan
About Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Source: Bank Of England Governor Might Open Opportunity For Ripple Tech, Says That Payments Across Borders Should Be Indistinguishable From Those Across The Street

Crypto Markets See Green, US Stock Futures Solid Ahead of Goldman, Citi Earnings

Monday, April 15 — after yesterday’s mixed movements, all of the top twenty cryptocurrencies are seeing solid green on the day to press time, seeing growth of between one and 10%, as Coin350 data shows.

Market visualization courtesy of Coin360

Bitcoin (BTC) is up around 1.5% on the day and is trading just under $5,200 by press time, according to CoinMarketCap. After hitting a multi-month price high of over $5,420 on April 10, the price of Bitcoin has subsequently corrected downwards — briefly dipping back below the $5,000 mark on April 12.

The top coin has since seen mild renewed growth in recent days, mostly trading sideways since mid-week. Today’s price point has brought Bitcoin’s weekly losses to a little over 1%.

Bitcoin 7-day price chart. Source: CoinMarketCap

The largest altcoin by market cap, Ethereum (ETH), is also up about 1.5% on the day to trade near $167. The alt saw a peak on its weekly chart on April 8, breaking through $180, before faltering downward to as low as $161 on April 11-12.

Despite today’s mild growth, on the week Ethereum remains down by 6.75%.

Ethereum 7-day price chart. Source: CoinMarketCap

Ripple (XRP) has reported mild growth of less than one percent on the day, and is currently trading at around $0.327. Correlating with Ethereum’s price movements, the altcoin saw bullish price points April 8-11, before seeing a subsequent correction. On its weekly chart, XRP is now down over 8%.

Ripple 7-day price chart. Source: CoinMarketCap

Among the uniformly green top 10 cryptocurrencies, XRP’s growth is the mildest, with Bitcoin Cash (BCH) seeing the largest uptick, rising about 7% on the day to trade at $298 by press time. Litecoin (LTC) and Binance Coin (BNB) are both reporting the second highest gains among the top 10, both up around 3.5% by press time.

Widening out to the top twenty, the highest gainer is Tezos (XTZ), which has surged close to 10% to hit $1.13 by press time. Aside from Maker (MKR) — ranked 20th and up a strong 5.2% — most other top 20 coins are seeing gentle gains between one and two percent.

The total market capitalization of all cryptocurrencies is currently around to $175.3 billion, down over 1.6% on the week.

Total market capitalization of all cryptocurrencies. Source: CoinMarketCap

In crypto and blockchain news, the parent company of major South Korean cryptocurrency exchange Bithumb has today revealed $200 million in funding from Japan’s ST Blockchain Fund. The funding will reportedly be used to expand Bithumb’s international outreach.

Also today, Cointelegraph reported that Japanese financial services giant SBI Holdings has become a shareholder in crypto startup FXCoin, which hopes to become a licensed local cryptocurrency exchange.

In traditional markets, United States stock index futures opened slightly higher, ahead of anticipated earnings reports today from Citigroup and Goldman Sachs, CNBC reports. Dow futures have this morning indicated a positive open, while futures for the S&P and Nasdaq were mixed.

Source: Crypto Markets See Green, US Stock Futures Solid Ahead of Goldman, Citi Earnings

The Crosscurrent Movement of Central Banks towards Stable Coins

According to Stablecoinindex, The Total Market Cap of the current renowned stable coins are up to USD9.32bn, with this number not even including all of the fiat-collateralized stable coins such as USDC, X8X, etc. Since the end of 2018, various firms are turning their focus to stable coins, voicing their opinions towards central banks who have remained pretty pessimistic towards their introduction. The Central Bank of Korea: “Stable Coin for Korea? Still Premature!”The Central Bank of Korea recently published a report “Central Bank Digital Currency and Financial Stability”published on Feb 7th, making a very specific announcement that the issuance of the Central Bank Digital Currency (CBDC) is too much “premature”, and currently they will only be focusing on R&D………..

Source: The Crosscurrent Movement of Central Banks towards Stable Coins

Reserves Bank of India shelves central bank digital currency plans – Report – TokenPost

The Reserve Bank of India (RBI) has reportedly shelved its plans to launch its own digital currency, according to The Hindu Business Line.The RBI had revealed its plans about central bank digital currency (RBI) in…

Source: Reserves Bank of India shelves central bank digital currency plans – Report – TokenPost

Japan’s Mizuho Financial Group to issue digital currency

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation http://www.nationmultimedia.com/detail/Startup_and_IT/30361398 Japan’s Mizuho Financial Group to issue digital currency Tech December 31, 2018 15:20 By The Japan News/ANN TOKYO – Mizuho Financial Group Inc. will issue its own digital currency from March at the earliest, which will allow users to make cashless payments via smartphones and fee-free cash […]

via Japan’s Mizuho Financial Group to issue digital currency — ศาสตร์เกษตรดินปุ๋ย2

Dutch Banking Group, ING Eyes Blockchain-Based Initiatives in 2019

https://www.pivot.one/share/post/5c271191595ce7166df14e66?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

Dutch Central Bank Wants to Regulate Crypto Companies to Stem Money Laundering

https://www.pivot.one/share/post/5c109c531d57e7438a93f310?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV

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