USFCX_US Foundry Exchange

Despite a regional economic slowdown in 2020, over a dozen African countries grew last year. Complicated trade rules and lengthy border processes stifle African economies. These long-standing issues need creative solutions. Blockchain is becoming more practical and scalable in developing markets. It has just opened a regulatory "sandbox" for innovative blockchain-based goods in Ghana. Standard Bank has joined Marco Polo, a trade financing network. Here are four ways blockchain may help African trade: 1. Customs The AU-EU trade deal is still in its infancy. Traditional customs bureaucracy prevents SMEs from joining global trade networks. This procedure can be automated and simplified, saving time and money. 2. Traceability Tracking cross-border goods correctly is critical for standard and certification verification. Already, blockchain is allowing ethical supply chains for a variety of African goods. Its open-source but secure design makes certificates easy to issue and verify...

 Last Monday, the head of Chile's central bank said that a decision on a plan for the possible roll-out of its own digital currency will be made in early 2022. This comes as authorities across the globe scramble to stay up with the rapid growth of cryptocurrencies. A high-level working committee to examine a medium-term plan for minting a "digital peso" has been established by Chile's central bank president, Mario Marcel, according to a statement. "The working group will critically assess risks to Chile's banking system and the effectiveness of the country's monetary policy," Marcel said. More than 40% of Chilean household spending is now made possible via the use of credit cards or other comparable systems, a significant increase from previous years.

CBDCs are financial instruments that help the government achieve its public policy goals by offering a secure and dependable method of making payments. If they are adequately managed and the dangers associated with them are addressed, they may help to promote efficient, inclusive, and creative payments. CBDCs are found in a variety of configurations across a wide range of geographic locations. 1. An example of CBDC money would be social benefits and other targeted payments made in a nation that are "fit-for-purpose." In order to facilitate direct benefit transfer for LPG subsidies, CBDCs may be pre-programmed and issued. Other organizations may utilize programmable payments to reimburse their workers' travel and lodging costs. 2. CBDCs have the potential to be utilized for quicker cross-border money transfers. A collaborative effort among the world's leading economies may aid in the development of the infrastructure and procedures required for CBDC transmission and co...

Following a breach that resulted in the loss of $610 million by cryptocurrency exchange Poly Network earlier this week, the company announced a $500,000 "bug reward" to whoever was responsible. With an emphasis on enabling users to move or exchange tokens across various blockchains, Poly Network is a decentralized finance (Defi) platform that enables peer-to-peer transactions intending to facilitate peer-to-peer transactions. He had "helped us improve Poly Network's security," the company said. A "white hat" hacker tries to disclose cyber vulnerabilities. "Mr. White Hat" was also to get a $500,000 reward as part of the digital money repatriation talks. It said that the hacker had replied to the offer, but did not specify whether or not the offer had been accepted. However, it has been reported that the hacker has returned $340 million in money and has transferred the bulk of what is left to a digital wallet owned by them and Poly Network, acc...

In a plea agreement, a citizen of the United States admitted to giving technical assistance to North Korea on the use of bitcoin and blockchain technologies to bypass sanctions. He is due to be sentenced in January 2022 and may spend up to two decades in jail if found guilty of the charges against him. Griffith worked as a senior researcher and developer for the Ethereum Foundation in the early days of the project. A presentation at the Pyongyang Blockchain and Cryptocurrency Conference, which took place in April in Pyongyang, North Korea, was one of his travel destinations in April 2019. As a representative of Pyongyang, Griffith tried to recruit other residents of the United States as well as communicate with bitcoin and blockchain service providers. The indictment does not identify any of the alleged "others" who are believed to be engaged in the investigation. North Korea has a well-documented history of employing foreign agents to circumvent international sanctions, and ...

  Major currencies saw low-level purchasing after China's announcement that all cryptocurrency transactions are banned, with some seeing gains of up to 11 percent. Ethereum was the biggest gainer among the top ten currencies, gaining about 10% in value. Solana, XRP, and Bitcoin all saw gains ranging from 4 to 7 percent. There were others who were in the green as well. A 32 percent increase in Uniswap's stock price made it one of the greatest significant gainers outside of the top 10. Because of the waning of the FUD (fear, uncertainty, and doubt) surrounding China's bitcoin ban, there is a growing feeling of stability throughout the cryptocurrency spectrum. The majority of the major cryptocurrencies have followed Bitcoin's example and have exceeded the $44,000 threshold.The CEO and Co-Founder of Mudrex, Edul Patel, believes that "the next 24 hours may herald the beginning of a period of stability throughout the cryptocurrency spectrum." After the Chinese centr...

  It has been decided to implement the 'Academic (BlockChain) Documents' by the Central Board of Secondary Education (CBSE). Towards the establishment of a Center of Excellence for Blockchain Technology, the CBSE collaborated with the National Informatics Centre (a division of the Ministry of Electronics and Information Technology) to create a partnership (MeitY). Blockchain technology stores data on a distributed ledger that is owned by all of the parties who are involved in the transaction. Consequently, there is no longer any need to depend on a third party to validate the information. In the chain of nodes, the data is recorded based on an agreement among the stakeholders and then duplicated at all of the locations across the distributed network of nodes. In this database, the data for the past three years, beginning in 2019, has been recorded, and the data for the other years will be uploaded progressively to the database later this year.

  China's central bank said in a statement that all digital currency activities are illegal and that the market would be controlled. Services that provide trading, order matching, token issuance, and swaps for virtual currencies are absolutely banned under Chinese law, according to the People's Bank of China. Furthermore, according to the PBOC, international cryptocurrency exchanges that offer services in mainland China are banned. It went on to warn that workers of foreign bitcoin exchanges will be investigated.

  According to reports, the Federal Reserve is moving forward with its investigation into whether the central bank should issue its own digital money. In a recent statement, Federal Reserve Chairman Jerome Powell stated that the central bank will release a report on the topic soon. The issue has been on the Federal Reserve's radar for more than a year, and the central bank announced in May that it would conduct a more thorough investigation. The Boston Federal Reserve has taken the lead on the project, collaborating with MIT on the initiative. A CBDC is approved if the "clear and tangible benefits outweigh any costs and risks," according to Federal Reserve Chairman Jerome Powell. According to proponents, the advantages of a central bank digital currency include the ability to send payments quickly to people in times of crisis as well as the ability to provide services to the unbanked. When it comes to deciding whether or not to implement its own digital currency, Powell s...

It has been announced that TangoChain will launch the world's first blockchain that is entirely comprised of gaming applications, play-to-earn games, and non-fungible tokens (NFTs). The initiative's goal is to allow gamers to profit handsomely while also creating non-fungible tokens as a byproduct of the initiative (NFTs). TangoChain has the potential to shape the future of blockchain technology, which is known as the third generation of the technology. The distinguishing feature of this generation is a blockchain that has been fully specialized for its purpose, with infrastructure and services that are tailored to its needs. TangoChain mainly focuses on gaming and NFTs features, instead of incorporating them as optional extras like other blockchain platforms. Through the use of TangoChain's proof of game protocol, users can help secure the network and validate transactions simply by participating in their favorite game on the TangoChain blockchain. Through this process, th...

The Royal Monetary Authority of Bhutan is collaborating with Ripple to test the feasibility of a central bank digital currency in the country. The RMA's efforts to improve cross-border payments and expand financial inclusion were the driving force for the decision. Bhutan's gross domestic product (GDP) was $2.5 billion in 2020, according to the World Bank. Bhutan's financial inclusion is expected to reach 85 percent by 2023, according to the RMA. The CBDC Private Ledger is carbon neutral and 120,000 times more efficient than proof-of-work blockchains, which are currently in use.  

  Crypto Stake is a gambling platform that is completely decentralized. Holders of Crypto Stake Tokens enjoy unrestricted access to a variety of games and international events. This has been made possible due to the integration of blockchain into the network as part of the overall system design. Choosing the finest bitcoin casino is crucial to increasing one's chances to win cash on the cryptocurrency. The primary goal of entering the CST market has been to increase the personal gains of those who might be interested in purchasing it. Participating in the process when one owns CST can result in benefits for the participant. On September 20, 2021, Crypto Stake officially launched its initial coin offering (ICO). It is divided into ten rounds, with each round resulting in a 0.05 USD increase in the price. Purchasing CST can be done with USDT that has been moved to the TRC-20, ERC-20, or BEP-20 blockchain networks, or with BTC that has been transferred to the TRC-20 blockchain network...

To provide educational opportunities, Oklahoma State University has formed a partnership with The Blockchain Academy. The relationship will help to establish Spears School of Business as a premier provider of education, certification, and qualified candidates for employment. According to Ryan Williams, executive director of the Blockchain Technology Academy, live online instruction is essential for blockchain technology education. The Center for Executive and Professional Development (CDP) at the University of Oklahoma has announced a strategic alliance with the State Bank of Oklahoma. Oklahoma offers a unique chance to cultivate blockchain expertise and a blockchain ecosystem. Programs are beneficial to professionals in accounting, finance, healthcare, supply chain, and other fields of expertise. Programs are designed to address the issues faced by various businesses as well as current use cases for blockchain technology.  

  We frequently encounter situations in which we must send large files over the Internet. The issue arises when we want to send files in the gigabyte range, or even folders in the terabyte range. There are services like Wetransfer and Smash that enable us to do that. Saturn is a new unlimited storage system that does not require a server and instead uses peer-to-peer technology to transfer data between connected computers. Users can attach multiple files, and the receiver will obtain a zip file with all of the content. This is the location of Saturn. The solution is built on a public chain in which everything is open to the public. Because they do not encrypt the file formats we upload, it is not recommended that we upload anything confidential. If we connect our wallet, they will also allow us to sign a file. This aids in the authentication of a file's provenance, avoiding "I didn't send it" issues. When a link is provided, the recipient is required to enter into the...

  The most well-known cryptocurrency exchange The Securities and Exchange Commission (SEC) of the United States has threatened Coinbase with legal action in connection with its plans to launch a lending service on its platform. The SEC issued Coinbase a Wells notice, which is an official mechanism for the government to notify a company that it intends to sue them. Coinbase responded by agreeing to temporarily suspend its Lend product. “Despite Coinbase removing Lend from the market and providing extensive information,” Mr. Grewal continued, “the SEC has yet to explain why they believe there is a problem.” “Instead, they've told us that if we launch Lend, they'll sue us. We requested that the SEC provide us with an explanation, but they refused. Mystery and uncertainty only serve to suffocate innovative products that customers want and Coinbase wants. Mr. Grewal stated that Lend would be suspended until “at least October” while the company worked to resolve the issues. The SEC d...

A group of top Wall Street figures recently encouraged entrepreneurs to engage with law enforcement agencies rather than resist them.  Strict business restrictions are argued to be toxic to the growth of a company in Kevin O'Leary's opinion. On "Shark Tank," O'Leary invests in numerous entrepreneurial enterprises. During the SALT hedge fund convention in New York, he was making a speech. Allaire, Jeremy, CEO of Circle, a blockchain-based payment network, believes that one legal framework would reduce risk and enable new developments. Regulatory issues are one of the main challenges facing the crypto-asset markets. People in the sector, however, have not always responded favorably to efforts to gain more control over international trade. Chairman Gary Gensler is calling on Congress to grant the U.S. Securities and Exchange Commission (SEC) increased regulatory power to make it easier for people to trade, borrow, and launch bitcoin-related platforms. Before this new...

  The state transition function of Crown Sterling's quantum-resistant, one-time pad encryption is the first to be offered as an option to customers. Earlier this year, Crown Sterling, a mint and financial services company, stated that it built the Data Bill of Rights (or Genesis block) as the core of its blockchain. The intangible property of the original author is known as digital assets. After studying NFTs (next-generation fiat transaction processors) and quantum-resistant blockchains, Crown Sterling has decided to go with Polka dot as the next-generation NFT and quantum-resistant blockchain. To meet their high-speed, concurrent transactions, Crown Sterling adopted a polka-dot pattern. The main objective of the business is to introduce blockchain technology to the world to advance positive change.

  There is a pioneering cross-border collaboration between Nordic central banks and the Bank for International Settlements that has been formed in the Nordic region. The collaboration's purpose is to build an Innovation Hub Nordic Centre (IHNC) in Stockholm under the supervision of the BIS. To do this, it intends to focus on creating cutting-edge solutions for financial market infrastructure, such as those for digital currency. The e-krona, Sweden's digital e-currency, is the most advanced of the Nordic central banks, thanks to the efforts of Riksbank in Sweden. It has already created innovation centers in Hong Kong, Switzerland, and Singapore, and formed a partnership with the New York Federal Reserve System. The link with the BIS will also boost international cooperation in this area, which will help enhance the overall performance of the global financial system. The Riksbank is developing and testing an electronic currency based on blockchain technology called the digital e-...

  Google has teamed with Dapper Labs to host Flow's networks on Google Cloud, as part of a strategic partnership. It was designed with a non-fungible token (NFT) collectibles and crypto games in mind when it was developed. In addition to assisting with the scalability of Flow, the collaboration is a continuation of Google's hosting of several blockchains. Besides showcasing its NBA Top Shot project, it will also be home to the digital fashion portal Neuno and the leading digital marketplace OpenSea. The company is the third-largest cloud hosting provider in the world, behind only Amazon and Microsoft. Google has teamed up with Flow to give public blockchain hosting services to the general public. Flow's new services will make it easier for developers to connect to nodes more efficiently and seamlessly. On the Hedera Hashgraph's first public ledger, the governing council includes Google, which is a member. When it came to running an EOS node on the public blockchain in 2...

  Turkey's central bank has entered into agreements with a number of well-known institutions to broaden its studies into the possible benefits of digital money. Major technology contractors such as Aselsan and Havelsan have signed MOUs with the company. The Central Bank stated that no final decision on a digital lira currency has been made. In 2022, the results of the first phase of the pilot study will be released.

  In a recent study, Hong Kong Foundation suggested that, in cross-border wholesale use cases, Hong Kong should seek to turn itself into a center for regional or global central bank digital currencies, as advocated by the World Bank. The e-HKD may be linked to other CBDCs as part of the 'Multiple Central Bank Digital Currency Bridge' project, which is currently under development. Countries with relatively advanced wholesale CBDC growth that have strong economic connections with Hong Kong, such as Japan, Singapore, and Switzerland, should be encouraged to become participants in the m-CBDC Bridge initiative.

Cointelegraph reports that Coinbase, one of the biggest cryptocurrency exchanges in the United States, has disclosed their intention to raise $1.5 billion via a debt offering. The cryptocurrency exchange, which is listed on the Nasdaq, plans to utilize the money it has raised to grow its balance sheet, which may include future investments and acquisitions of other businesses, products, or technological innovations. Senior notes due 2028 and 2031 with an aggregate principal amount of $1.5 billion will be offered in the current round. They will be fully guaranteed by Coinbase Inc., which is a wholly owned Coinbase subsidiary that serves as the business's holding company, and will be fully guaranteed by Coinbase Inc. in the subsequent round. The interest rate, redemption conditions, and other terms of the capital raising will be negotiated between the company and the initial buyers, according to the agreement. Following the issuance of a private offering memorandum, Coinbase said that...

Digital markers, which are tokenized bank account balances, are comparable to Russia's Sberbank settlement tokens in that they are tokenized bank account balances. In order to be clear, this is not a stablecoin, according to the New York Community Bank. The words 'tokens,' 'tokenized cash,' and 'digital money' were not used in the announcement, which was a good thing. JAM FINTOP Bank Network, which includes 66 community banks, includes NY Community Bank as a member institution. One of its subsidiaries was recently given a license to operate as an Alternative Trading System (ATS). A USD Forward was used to pay for secondary market trades involving Figure's own shares on the ATS, which is operated by Figure. The usage of central bank digital money, also known as cash on ledger, is the holy grail of on-chain payments or cash on ledger. That is the path that Fnality is pursuing, with the support of many global financial institutions. However, with huge regul...

Is it preferable to invest in bitcoin (BTC) than gold (GLD)? You may have thought about the following. For traders, the two markets are vastly different; Bitcoin is a peer-to-peer decentralized digital currency that was first mined in 2009, whereas Ethereum is a decentralized cryptocurrency that was first mined in 2011. Bitcoin is a decentralized digital currency that was first mined in 2009, whereas Ethereum is a decentralized cryptocurrency that was first mined in 2011. Authentic gold is a tangible commodity that has been highly prized by people all over the world for millennia. The levels of volatility, storage procedures, and demand sources that distinguish the two markets are the most significant distinctions between them. One of the most noticeable differences between Bitcoin and gold is the degree to which both assets are subject to volatility. Bitcoin and gold are both very unpredictable. Average true range (ATR), one of the most widely used indicators of volatility, is useful ...

China aims to digitalize its securities industry by the use of blockchain technology. Recent meetings were held by representatives of the country's largest stock exchanges and regulatory bodies. They agreed on the critical nature of technology's role in developing China's securities industry. The China Securities Association organized the event. Jiang Yuanyuan, the chairman of the China Securities and Futures Regulatory Commission (CSRC), has urged the securities industry to investigate the use of blockchain technology. The Chinese securities industry's major players are in the advanced stages of developing their own blockchain projects.  

Benoît Coeuré said that the stablecoins and decentralized finance will put banks' business models to the test. He affirms that central banks must move more quickly to establish official digital assets. The comments demonstrate the growing anxiety among monetary regulators over the crypto-currency boom. According to the BIS, central bank digital currencies (CBDCs) should be simple to use, low in cost, convertible, and capable of instant settlements, among other characteristics. However, CBDCs will not be available for several years, whereas stablecoins and cryptoassets are already available. A CBDC, in contrast to a stablecoin, whose value is tied to the value of a largely unregulated cryptocurrency, is a digital representation of existing banknotes and coins. Coeuré stated that banks are expected to be a part of future CBDC systems.  

  The trial of China's new Digital Currency Electronic Payment (DCEP) began in April 2020, and it has since been gradually pushed out in key cities such as Shanghai, Chengdu, and Beijing. The DCEP is the Chinese Central Bank's digital payment and transaction system. A digital currency is a money that exists in the form of digital data. It is like using ordinary money, but it does not have a physical form. The DCEP has "controllable anonymity" that is trackable, and users must download and register for an app on their smartphone. Other cryptocurrencies such as Bitcoin, Eth, etc. they are blockchain-based that are anonymous and decentralized. While Digital currency also uses a blockchain-based system but is centralized and, requires user identification. With this, China's government will be able to control the system, like freezing or closing an individual's account. For others, like the US this poses threats and, they called the digital currency "Warning t...

  On Tuesday, the price of cryptocurrencies plummeted, and crypto trading was halted. Bitcoin, the most recognized cryptocurrency in the globe, dropped more than 17% to $43,000 before recovering some of its losses. El Salvador became the world's first country to take bitcoin as legal tender. However, because to high demand, the authorities had to temporarily disable a digital wallet.

  Jack Dorsey, the CEO of Twitter, has disclosed his objectives for his mysterious bitcoin startup TBD. The initiative, which is a subsidiary of Mr. Dorsey's Square payments company, would create a decentralized exchange that will democratize bitcoin access. Mr. Dorsey founded TBD's mission to assist us in developing an open platform that will enable a decentralized bitcoin exchange. Mr Brock concluded, "This platform will be totally public, open-source, and open-protocol, and any wallet will be able to use it."

The first Bitcoin ATM in Honduras debuted this week, as proponents of the digital currency hoped to boost demand. El Salvador became the world's first government to recognize bitcoin as legal tender. In Tegucigalpa's office tower, the "la bitcoinera" ATM was installed. It enables users to purchase bitcoin and Ethereum with local lempira currency. Remittances from Hondurans residing abroad, especially in the United States, are estimated to total $5.7 billion in 2020, accounting for more than 20% of the country's GDP.  

The Monetary Authority of Singapore (MAS) has picked 15 companies to assist with the marketing of its Central Bank Digital Currency (CBDC). Four firms from the United States, six from Singapore, and one each from Barbados, France, Switzerland, Australia, and Germany are among the participants. Only three winners will be chosen to work on the development of Singapore's retail CBDC. The MAS will coach the finalists, and they will have access to an APIX Digital Currency Sandbox, which will allow them to quickly prototype digital currency solutions. According to one source, Singapore is home to 170 cryptocurrency exchanges, including Germini and Binance.  

China's central bank has advanced plans for the Digital Currency Electronic Payment (DCEP) system which will totally alter the world monetary system. The US dollar accounts for roughly 40% of international payments and 60% of global foreign currency reserves. State-backed digital currencies are being considered by China and the European Central Banks. For such a move, Russia has been developing a national security strategy. However, the dollar's dominance in international payments is stifling globalization. Several governments are working to improve the situation. China's DCEP could be operational in the next 18 months, while Russia is developing a national security plan.  With tensions between the world's main nations at an all-time high, many suspect the United States of gaming the system to its own benefit. According to Simon Tisdall, many countries are taking steps to change the situation. Countries will have even greater advantages over SWIFT when they establish th...

Australia, Malaysia, Singapore, and South Africa's Central Banks will be testing out the use of Central Bank Digital Currencies in cross-border transactions. This experiment will be led by the Bank of International Settlements which is the Project Dunbar. The goal of the research is to create prototypes for a single platform that would allow for international settlement of digital monetary systems issued by central banks. This will check if the payments will be less cost and user-friendly and much faster.   “We are sure that our research on multi-CBDCs for international settlements will pave the way for global payments connection in this next stage of CBDC experimentation,” says Andrew McCormack, head of the BIS Innovation Hub Singapore Centre. The results will be released in 2022, however, the platform prototypes will be unveiled in November at the Singapore FinTech Festival. Still, a lot of countries want to explore and create their own CBDCs. Some of the trials are in the e...

  The State Information Center (SIC) of the Chinese government, as well as Red Date, China Mobile, and China UnionPay, founded BSN. In November, the BSN portal will be launched in Korea. Compatibility between multiple blockchain platforms is one of the key goals. The company intends to launch a multinational central bank digital currency (CBDC) trial this year. MetaverseSociety, a group that advocates for public blockchains, is launching the BSN site. BSN was quick to point out that, because of its low cost, it's an excellent platform for institutions. Its own DeFi platform supports entertainment-focused NFTs as well as tokenized digital assets like real estate bonds.

  The fed to consider creating a digital dollar or currency for the public. But, money is far too vital to be left in the hands of central bankers. Julian Zelizer: Policy for general-purpose digital dollars should be established by Congress, not the Fed. According to him, a CBDC would be a new liability that the public may use, and it was almost the same as when you deposit at the central bank. Congressman Don Beyer has introduced legislation that would allow the Fed to create digital dollars while also giving the Treasury the authority to prohibit them. However, such regulatory absolutism is the incorrect way. Congress should establish a liberal private sector that is oriented with the dollar-stablecoin framework.

  Cryptocurrency Compliance Cooperative formed by cash-to-crypto industry leaders. CCC's mission is to create a safer environment for all consumers and legitimize the industry. "The nefarious use cases plaguing this industry are well documented," said Seth Sattler, director of compliance for DigitalMint. The Cash-to-Crypto Council (CCCCC) will allow members to stay abreast of regulatory updates, new industry standards and research. Members will share best practices and collaborate with industry leaders, regulators, and law enforcement on how to enforce deeper and more robust compliance protocols.  BTMs, or cash-to-crypto ATMs, have surpassed 42,000 installations in the U.S. These machines allow users to purchase cryptocurrencies with cash. The CCC is seeking to bolster regulatory requirements for the benefit of all BTM users and operators. According to a report, 75% of BTM operators in New Jersey allowed certain transactions to take place without any information outside o...