Vodafone is no longer part of the Libra consortium. Vodafone will dedicate resources previously intended for Libra to its well-established and successful digital payment service M-Pesa, which the company plans to expand beyond the six African nations currently served.
Hong Kong and Thailand’s central banks have stepped closer to implementing a joint central bank digital currency for cross-border payments, officially announcing the outcomes of a joint CBDC research project called Project Inthanon-LionRock.
Joseph Lubin presented the framework of regulated Ethereum-based stablecoins at the Davos Economic Forum.
Blockchain service firm Chainstack recently published a report about developer activity on six major enterprise blockchains, showing that Fabric has overtaken Corda in regard to dev activity on its repository. A chart included in the report shows that Fabric developer activity exceeded Corda’s in Q4 2019.
The Australian Prudential Regulation Authority (APRA) has published its submission to the Senate Select Committee on Financial Technology and Regulatory Technology. The submission outlines how APRA is evolving its regulatory framework and approach to support the developing FinTech and RegTech sector, while ensuring risks are appropriate managed in line with APRA’s mandate of financial soundness and stability.
This research aims to evaluate the suitability of cryptocurrency as money from the Islamic perspective. Money, in the Islamic perspective, has specific characteristics and requirements, such as stability and is based on assets. Cryptocurrency may not fulfil this as it has queries as money from the Islamic perspective. The research method applied data of 23 cryptocurrency prices and related information. The result shows that cryptocurrency is hugely volatile and has limits to being called ‘money,’ as it is limited and used for speculation, which is prohibited in Islam. The research implies that Muslims would be reluctant to use cryptocurrency as money, as a currency of transaction. This reason raise an expectation that the cryptocurrency will not develop rapidly in Muslim countries.
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The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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