Goldilocks’ Comments and Global Economic News Saturday Afternoon 11-11-23
Good Afternoon
India is launching their wholesale CBDCs platform on the UPI. The CBDC platform enables real-time settlements in cross-border International trades for large transactions.
This is expected to begin in January 2024 that just so happens to be the month that Iraq is being included inside the UPI trading system in India using the Iraqi Dinar.
The Unified Payments Interface or UPI is capable of doing bank-to-bank transfers across the borders with several Banks simultaneously.
This is the new technology that will bring forth the Iraqi dinar on the international stage allowing them to trade in their own local currency going forward.
© Goldilocks
https://www.npci.org.in/what-we-do/upi/product-overview
https://www.ledgerinsights.com/india-to-launch-wholesale-cbdc-in-january-2024-report/
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As Banking Goes Digital, Finance Apps Are Still Too Risky HindustanTimes Link
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Web3 coins, also known as decentralized cryptocurrencies, are a subset of digital currencies that operate on the Web3 infrastructure. Unlike traditional cryptocurrencies like Bitcoin and Ethereum, Web3 coins are built on decentralized networks, allowing for greater transparency, security, and control.
Web3 refers to the third generation of internet technology, characterized by the integration of blockchain, smart contracts, and decentralized applications (dApps). These coins leverage these advanced technologies to provide users with enhanced functionalities and improved user experiences.
https://techbullion.com/the-rise-of-web3-coins-understanding-the-basics/
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BoE promises new ‘rulebook’ for clearing houses and CSDs
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Iraq’s oil ministry said in a statement on Friday that Baghdad is committed to the OPEC+ agreement on determining production levels, two weeks ahead of a key meeting of the producer group.
https://www.nasdaq.com/articles/iraq-committed-to-opec-pact-on-output-levels-oil-ministry
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XRP Championed by Blockchain Expert as Future of Cross-Border Payments
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The Guaranteed Income Pilot Program Act of 2023
https://www.instagram.com/reel/CzghRHXOUVA/?igshid=MW12NzdzMmQ4N2NqeA==
