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Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Uber Technologies Inc. to back a new cryptocurrency it plans to unveil next week and launch next year… Facebook won’t directly control the coin, nor will the individual members of the consortium—known as the Libra Association. Some of the members could serve as “nodes” along the system that verify transactions and maintain records of them, creating a brand-new payments network.
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Key findings suggest that mobile money may be a positive use case for CBDC, but it is not without potential risks. The application of retail CBDC to mobile money has the potential to foster greater interoperability, improve payment efficiency, facilitate cost-saving gains by minimising reconciliation complexity and notional costs, as well as reduce the key payment risks that are typically associated with mobile money.
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From the standpoint of secure, accessible books and records, DLT represents an important step forward. From a funding perspective, it is a gigantic step backward.
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Our results suggest design improvements that can improve long-term stability and suggest methods for solving pricing problems that arise in existing stablecoins.
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Brazil’s central bank, finance ministry, and the country’s financial sector regulators have teamed up to develop a Fintech regulatory sandbox.
Kiffmeister’s Fintech Daily Digest 06/14/2019
