Goldilocks’ Comments and Global Economic News Wednesday Evening 11-29-23
Good evening Dinar Recaps,
Are you noticing all of the collaboration taking place between Quantum Technologies in the articles this morning?
Many of the major corporations around the world have already begun the process of interfacing their networks together on the QFS. As Protocol 20 continues to test its system with these new technologies connecting to one another, we will witness an explosion of new services available to us on January 30th, 2024 providing the vote to move forward with Protocol 20 is agreed upon.
© Goldilocks
Testnet Announcement and Scheduled Maintenance:
Test Network (Testnet) Reset on Monday, December 18th 2023, at 5:00pm UTC (11:00am local time)
A reset of the Stellar Test Network (Testnet) will clear all data from Testnet Horizon and Stellar Core instances. Please be prepared to recreate any Testnet data you need, including accounts, assets, offers, and liquidity pools. See testnet best practices for more information. https://dashboard.stellar.org/
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The Securities, Commodities, and Derivatives Exchange (SECDEX) has been selected by the Seychelles Government to showcase in the Blue Zone at COP28 UAE (30 November – 12 December).
Seychelles-based SECDEX is a regulated financial market infrastructure firm focusing on securities, debt, spot commodities and derivatives contracts in traditional and digital tokenised forms.
In collaboration with sustainability firm Island Carbon Consult, SECDEX will host an event in the Seychelles Pavilion on 4 December. AssetServicingTimes Link
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Black Friday for US retailers did not go well
For the retailers and brands that count on Black Friday the most, the day was a dud.
Not a good sign for these chains and for the US economy, which needs consumers to keep increasing their spending to avoid a recession. It also raises the risk that the rest of the holiday shopping season will disappoint, forcing retailers to offer more discounts to make up for lost sales.
According to a Bloomberg Second Measure analysis of transaction data, the median decline in Black Friday sales was 4% for a group of 40 companies that derive a higher percentage of their sales for the year from holiday shopping than their peers.
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Tokenbridge launches services suite
Token aggregator and distribution platform Tokenbridge has launched a suite of services for fund managers, financial advisors and their clients.
Through its token distribution system, Tokenbridge aims to refine operational processes, reducing friction, inefficiencies and risk.
A fully integrated CBDC or Stablecoin cash management solution is available through the platform.
AssetServicingTimes Link
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A joint project by central banks has shown that it’s possible to maintain privacy when making payments with national digital currencies.
Project Tourbillon, by the Bank for International Settlements (BIS) Innovation Hub in Switzerland explores payer anonymity with central bank digital currencies (CBDC). A final report on the project published Wednesday shows the central banks looked at payment options where users don’t need to disclose personal information to anyone, including the merchant. However, the merchant’s identity would be disclosed to their bank when the payment occurs to help reduce tax evasion or illicit payments.
As jurisdictions around the world consider issuing digital versions of sovereign currencies, privacy has emerged as a chief public concern.
https://www.coindesk.com/policy/2023/11/29/central-bank-project-shows-cbdc-payments-can-be-private/
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Bank Announcement:
Bill Comes Due for Large Bank Failures as FDIC Adopts Special Assessment for IDIs With Assets in Excess of $5 Billion
The Federal Deposit Insurance Corporation (the “FDIC”) has issued a final rule that imposes a special assessment on insured depository institutions (“IDIs”) to recover losses realized by the Deposit Insurance Fund (the “DIF”) when Silicon Valley Bank (“SVB”) and Signature Bank (“Signature”) were closed by the regulators earlier this year.
The special assessment is mandated under the Federal Deposit Insurance Act as a means to recover losses to the DIF when the FDIC exercises its systemic risk authority to provide full deposit protection for otherwise uninsured depositors of a failed bank as was the case with the failures of SVB and Signature.
The statute provides the FDIC with broad authority to determine the design and timeframe for the special assessment and to consider a variety of factors including economic conditions and possible effects on the industry. The special assessment is in addition to the regular assessments that IDIs make to secure deposit insurance for their customers.
https://www.jdsupra.com/legalnews/bill-comes-due-for-large-bank-failures-4130486/
BUCKLE UP: Silver & Gold Are Now In Blastoff Mode Along With The Mining Stocks!
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Project Tourbillon: exploring privacy, security and scalability for CBDCs
https://www.bis.org/publ/othp80.htm
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Standard Chartered becomes the first foreign bank to join China’s CBDC pilot testing
Forbes India Link
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BlackRock and JPMorgan have acquired more than 7.5 million XRP, coinciding with the upcoming listing TheCryptoAlert Link
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Commercial mortgage delinquencies jump at banks National Mortgage News
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The end of this month marks the first anniversary of the release of the Canadian Indo-Pacific Strategy (CIPS).
It represents a once-in-a-generation strategic shift in Canada’s foreign policy to preserve a rules-based order with like-minded countries like Japan, the U.S., South Korea and political entities such as Taiwan.
Japan and Canada’s other friends have a deep interest in CIPS being successfully implemented to contribute to peace and stability in the Indo-Pacific region. They see Canada as a supplier of energy and critical minerals, a diplomatic convener, a country committed to the rule-of-law globally and one that eschews the Machiavellian, might-is-right approach to international affairs.
https://www.japantimes.co.jp/commentary/2023/11/28/japan/canada-indo-pacific-strategy/
