Goldilocks’ Comments and Global Economic News for Thursday evening, September 7th
Good evening,
JP Morgan Chase & Co. is in the early stages of exploring a blockchain-based digital deposit token for speeding up cross-border payments and settlement, according to a person familiar with the work.
Deposit tokens are transferable digital coins that represent a deposit claim against a commercial bank. Essentially, they are a digital version of the deposits that customers hold in their accounts.
Because transactions using these coins are processed on blockchain rails, settlement is instantaneous, and proponents of the novel form of money suggest they may make transactions cheaper as well.
“Deposit tokens bring plenty of potential benefits, but we also appreciate that regulators would want to be thoughtful and diligent before any new product gets developed and used,” a JPMorgan spokesperson said in a statement.
“Should that appetite develop, our blockchain infrastructure would be able to support the launch of deposit tokens relatively quickly.” The bank has already piloted issuing deposit tokens in a single transaction last year as a part of the Monetary Authority of Singapore’s Project Guardian and highlighted the potential of this form of money in a recent study.
Read more: Wall Street Spots Blockchain Opportunities as Crypto Stumbles
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💥 QFS HAS BEEN LEAKED 💥 THE TIME IS NOW 💥 XRP XLM XDC HBAR QNT & OTHERS
https://youtu.be/7vUP0txygOo?feature=shared
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Japan Financial Giant Confirms To Use XRP For International Remittance Services
https://thecryptobasic.com/2023/09/06/japan-financial-giant-confirms-to-use-xrp-for-international-remittance-services/
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Central banks added 55 tonnes to global gold reserves in July
55 loud and clear
@GoldTelegraph
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FYI:
Sam Oliver, Dee Grose, and Myself are a team, but Sam only posts in Dee’s Economics Room.
© Goldilocks
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ALERT! FDIC White Washes Bank Q2 “Unrealized Losses” So You Don’t PANIC!! Q3=BIG TROUBLE! (Bix Weir)
https://youtu.be/dkT6d-B_7GU?si=NauFvF_CfWEle_E6
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Manipulation in the precious metals sector favors the interests of the eastern world, ironically.
They are stockpiling.
The majority of them are the biggest producers.
Inevitably, they will seek to build a new system around it.
Remember, gold is a reserve asset globally.
Read: https://x.com/alexdeluce/status/1699862705266426105?s=46
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🔴 Fed Issues PRIVATE WARNINGS To Regional Banks Sounding Alarm On Liquidity Issues
https://youtu.be/gghTkZT7WYA?si=ZPzbQfPD_HTHWDtY
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