BIS to launch market intelligence platform amid stablecoin, DeFi collapse

“The project's goal is to create an open-source market intelligence platform to shed light on market capitalisations, economic activity, and risks to financial stability.”

The move goes against the norm of relying on self-reported information by unregulated firms when it comes to data on asset backing, trading volumes and market capitalization. The BIS also highlighted the ease with which quantum computers can break the cryptography used by traditional financial institutions to secure and settle payments.

Moreover, BIS’s Sela initiative will explore technological solutions for allowing CBDC issuance via intermediaries while ensuring greater security and lower costs. The BIS Innovation Hub’s Hong Kong Centre will also collaborate with the United Nations Framework Convention on Climate Change to develop the prototype for the second phase of its green finance project, Genesis:

“In this new phase, blockchain, smart contracts and other related technologies will be used for the tracking, delivery and transfer of so-called digitised Mitigation Outcome Interests - de facto carbon credits recognised under national verification mechanisms compliant with the Paris Agreement - attached to a bond.”

Cointelegraph recently attended the UNFCCC’s DigitalArt4Climate press conference to understand the various

Good thing. Because now I can be sure only about Tether.

Well USDC is gonna be in trouble then. Because lying about its assets is not a good idea..

I guess they know Chainlink

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFiThe top 100 DeFi tokens were hit hard by bears, with the majority of tokens registering multimonth lows along with double-digit losses over the past week. removed soon Why is everybody surprised that there would be a coordinated attack on the very thing that could bring down central banks? Good It serves about as much purpose as the no-doc mortgages that helped cause the 2007-08 financial collapse
Source: Cointelegraph - 🏆 562. / 51 Read more »

Defi Protocol Abracadabra's Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout – Altcoins Bitcoin NewsOn Saturday, June 18, the crypto stablecoin called magic internet money MIM briefly dropped to a low of $0.914 per unit. Bad drop. $paw Wasn't stable after all $paw My six pack is protected by a layer of fat.
Source: BTCTN - 🏆 531. / 51 Read more »

Federal Reserve highlights 'structural fragilities' in stablecoin market in new reportThe Terra collapse continues to underscore regulatory concerns over the fragility of the stablecoin market. Started using today, i'm shocked has anyone told them that the dollar is basically a stablecoin?
Source: TheBlock__ - 🏆 464. / 53 Read more »

Tether's USDT market cap dips below $70B for an 8-month lowTether USDT, the biggest stablecoin and the third largest digital currency by market capitalization, continues losing its market value amid the current market downturn.
Source: Cointelegraph - 🏆 562. / 51 Read more »