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June 9, 2021

On the wires

A Vision for Federated Sidechains on the XRP Ledger

“Over the last nine years, the XRP community has been committed to advancing the innovation and forward progress of the XRP Ledger (XRPL) to dramatically increase its decentralization, performance, and feature set. Among the most-requested features we have heard from developers and contributors to the XRP Ledger is smart contract capabilities brought about by the exponential growth in decentralized finance (DeFi). In fact, the number of DeFi developers has grown 110% since 2019, and that number is projected to grow well beyond 2021. However, we at Ripple have long advocated against features that would compromise the XRP Ledger’s highly efficient focus on payments.”

February 24, 2021

On the wires

Versabank to Launch VCAD, World’s First Bank-issued, Deposit-based Digital Currency

“VersaBank (TSX: VB) (“VersaBank” or the “Bank”), a North American leader in business-to-business digital banking and technology solutions for cybersecurity, today announced it plans to launch a strong encryption based digital currency (cryptocurrency) represented one-to-one by a Canadian dollar bank deposit with the Bank, to be known as VCAD.  VCAD is expected to be the first digital currency to represent a fiat currency, as well as the first in the world digital currency issued by and backed by deposits with a North American bank.”

December 17, 2020

On the wires

BlockApps and Schweitzer Laboratories partner to build campaign finance compliance system, 4US, restoring trust and confidence in the political financing process

“Campaign finance is central to the functioning of America’s democratic system, yet it is wrought with public mistrust. A 2019 Gallup study found that only 20% of Americans are satisfied with the nation’s campaign finance system. While much focus has been put on proposed adjustments to the regulatory regime through policy initiatives, little attention has been paid toward improving the existing processes of compliance and law enforcement.”

September 25, 2020

On the web

Ant Group Launches Blockchain Based-Platform to Help SMEs with Cross-Border Trade

South China Morning Post

“Ant Group, China’s largest digital payments provider by volume, has launched a blockchain-backed smart contract platform for cross-border trade by small and medium enterprises (SMEs), helping them and banks to speed up the secure processing and settlement of orders. Ant, the operator of mobile payments app Alipay, launched Trusple at the INCLUSION Fintech Conference in Shanghai on Friday.”

July 15, 2020

On the web

Spanish Banks Complete Tests of Programmable Payments for Smart Contracts


“Banco Sabadell, Banco Santander, Bankia, BBVA and CaixaBank have successfully completed a proof-of-concept test to enable the execution of payments triggered by smart contracts in blockchain networks. The initiative, coordinated by Iberpay, the company that manages the Spanish Payment System (SNCE), confirmed the viability of employing blockchain technology to the payments sector, allowing the automatic execution of payments when certain pre-established conditions are met, such as the automatic payment upon signing a contract or the execution of automatic payments upon receipt or shipment of goods.”

April 22, 2020

On the web

Argentina’s Central Bank Trials Blockchain for New Interbank Settlement Layer


“The Central Bank of Argentina (BCRA) is testing a new blockchain-powered clearing system that could be used by some of the country’s largest financial institutions. Blockchain developer IOV Labs said Tuesday it had created a proof-of-concept, for a permissioned blockchain network, based on RSK Smart Contract Network , in conjunction with the central bank and major commercial banks in Argentina including Santander and BBVA. The solution is aimed speed fiat payments, make them more reliable and introduce end-to-end traceability, IOV said. Network participants will include the BCRA, banks, clearinghouses and other financial entities. While currently in the testing phase, IOV and BCRA said the new network could form the basis for an alternative clearing system.”

March 30, 2018

On the web

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