Tag Archives: usa

Federal Reserve Blockchain Paper: read here

The US Federal Reserve Blockchain Paper is a new research about distributed ledger technology published by the American institution.

This new paper is about blockchain applications for payments and transaction settlement.

It was written by a research group composed by the Federal Reserve Board and botht the Federal Reserve Banks of New York and Chicago.

Although another research was published in the past by members of the Federal Reserve system,  this new document is the first major publication from the Federal Reserve Board.

However, the research paper covers a wide range of topics, including both a top-down view of the concepts behind blockchain.

Also, the US Federal Reserve Blockchain Paper talks about the challenges and opportunities for financial companies or payment system operates looking for possible integrations.

“An important goal of this paper is to examine how this technology might be used in the area of payments, clearing, and settlement and to identify both the opportunities and challenges facing its practical implementation and possible long-term adoption.”

This publication comes just two months after the news that Fed governor Lael Brainard revealed the interest in the blockchain by the central bank.

According to the Federal Reserve press release, researchers interviewed almost 30 representatives from the public and private sector, explaining both how to establish companies and startups working with the distributed ledger in the fintech field.

The full US Federal Reserve Blockchain Paper can be found here:

Distributed ledger technology in payments, clearing, and settlement

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

CNBC said Obama needs to embrace Bitcoin soon

obama_embrace_bitcoin
According to a CNBC writer President Barack Obama needs to embrace Bitcoin soon.
In fact, some days ago Barth Chilton, former commissioner of the Commodity Futures Trading Commission (CFTC) and senior policy advisor at the global law firm DLA Piper, wrote that the Obama administration should now move on bitcoin and the blockchain.
Chilton explained as the blockchain technology can be a great economic value for the U.S.A. so Obama should heed the call on Bitcoin.
Chilton commented:
 
“Without some proactive steps, such as a Self-regulatory Organization (SRO) and/or word from on high by the president, the U.S. could lose out on what are potentially enormous economic benefits.”
Chilton worked as a commissioner between 2007 and 2014, and he wrote a book titled “Ponzimonium: How Scam Artists Are Ripping Off America.”
In his article, Chilton explained that Obama should pay attention to Bitcoin because a lack of interest on it could let “U.S. lose out on what are potentially enormous economic benefits”. 

Huge Opportunities

There are 15.5 million bitcoins and the digital currency has a market capitalization of nearly US$7 billion, so Chilton explained how important is embracing bitcoin and digital currencies right now.
“There is a huge opportunity that can be tapped into if US government officials and industry thought-leaders establish an appropriate balance between basic consumer protection regulation and an openness which not only permits, but fosters and promotes, innovation”, he wrote.
Also, Chilton compared what U.S.A. did with Internet to what this country can do with Bitcoin, by saying:
“We did it with the internet — and we need to do it now with virtual currencies like bitcoin”.

 

Multicurrencies Wallet – Open yours for free

To buy and spend your digital currencies, you may need a wallet where you can store your bitcoin, for example.

On HolyTransaction wallet you can hold several cryptocurrencies including Ethereum, Litecoin, Blackcoin, etc.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio