ID 2020 Digital identity Pushed as a Basic Human Right

ID 2020 Digital identity Pushed as a Basic Human Right

 

NEW YORK – Accenture Plc and Microsoft Corp are teaming up to build a digital ID network using blockchain technology, as part of a United Nations-supported project to provide legal identification to 1.1 billion people worldwide with no official documents.

The companies unveiled a prototype of the network on Monday at the UN headquarters in New York during the second summit of ID2020, a public-private consortium promoting the UN 2030 Sustainable Development Goal of providing legal identity for everyone on the planet.

Blockchain – Central Banks Banking On It

Source: Photosteve101 via Flickr

 

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust …”

Satoshi Nakamoto (Unknown person or persons who designed bitcoin and created its original reference implementation, Bitcoin Core)

Fiat currency debasement and failure is why gold has survived and thrived for thousands of years  and indeed in recent years. It is why bitcoin is becoming more popular, with its growing market cap and ever-expanding ecosystem.

Blockchain Technology – What Is It and How Will It Change Your Life?

• Blockchain technology – What is it?
• Latest developments – Royal Mint Gold & CME, Goldman Sachs and Santander
• Why do we need it? It’s about value
• Blockchain is an extension of economics
• Blockchain allows us reduce uncertainty and risk
• How will it change your life?

For those of you who follow anything to do with blockchain and blockchain technology,  you will know that the space has had its ups and downs in the last couple of weeks.

The exciting news is that two major players in the gold market, the Royal Mint and CME Group have announced a blockchain-backed gold project, and the surprising news is that the R3CEV consortium is apparently under threat.

The Beginning of the End for SWIFT Payment System

The Beginning of the End for SWIFT Payment System

 

In a major move to explore the use of digital currency in Singapore, the city state’s central bank plans to launch a pilot project with the country’s stock exchange and eight local and foreign banks to use blockchain technology for interbank payments.

• Cross-border foreign currency transactions will also be reviewed under the pilot as Singapore’s central bank looks to position the financial center as an important Fintech hub.
• The effort is supported by the R3 blockchain research lab and BCS Information Systems, Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said at the Singapore Fintech Festival
• “Under the pilot system banks will deposit cash as collateral with the MAS in exchange for MAS-issued digital currency,” Menon said on Wednesday.

Will Blockchain Technology Replace Cash?

Wisdom from May of 2016 for today:

 

If Europe is heading toward a cashless society, the loss of freedom will follow.

The European Central Bank (ecb) decided on May 4 to withdraw the €500 banknote from circulation by the end of 2018. The stated reason is that the bill is often used for illicit cash transactions. Although most supporters of this policy say they don’t want to totally abolish cash, some economic analysts believe a cashless monetary system will be the next step, leading to the loss of many freedoms.

The German government also plans to limit all cash transactions to less than €5,000, saying that terrorism is often sponsored by high-cash transactions. The March terrorist attacks in Brussels, Belgium, gave these advocates a significant push forward. Even after banning the €500 note, millions of euros could still be carried in a small handbag. Nobert Haring, a German economist and business journalist, explained in an interview with N-tv that terrorists would not be bothered by the planned limit on cash transactions. He said a total ban of cash would be required to have an effect on terrorists.

Overstock Holds 3 Months Of Food, $10 Million In Gold For Employees In Preparation For The Next Collapse

 

But little did we know that Overstock’s Chairman Jonathan Johnson is as vocal an opponent of the fiat system, and Wall Street’s tendency to create bubble after bubble, if not more than Byrne himself.  That, and that his company actually puts its money where its gold-backed money is and in preparation for the next upcoming crash, has taken unprecedented steps to prepare for what comes next.