#CryptoCorner: Switzerland's SIX to Trial #Blockchain for Planned Platform Later in 2019, Ripple Adds 11 Universities to Research Initiative, Bank of Korea Study Finds That CBDCs Could Destabilize Finance and Bitcoin Trading Volume Hits Record Highs in Venezuela
February 7th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - February 7, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: Switzerland's SIX to Trial #Blockchain for Planned Platform Later in 2019, #Ripple Adds 11 Universities to Research Initiative
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Switzerland's SIX to Trial Blockchain for Planned Platform Later in 2019, Ripple Adds 11 Universities to Research Initiative, Bank of Korea Study Finds That CBDCs Could Destabilize Finance and Bitcoin Trading Volume Hits Record Highs in Venezuela
Major Swiss stock exchange SIX will trial blockchain integration for a planned digital exchange platform in the second half this year, according to a report from Cointelegraph. In an interview with Cointelegraph, SIX CEO Jos Dijsselhof explained the exchange's interest in blockchain tech as a means of making transactions faster and more secure.
"The fact is, it takes two days for the buyer of a stock to become the owner. The trade itself only takes a fraction of a second, but after that payments have to be settled and titles transferred. If we put it all on our digital exchange, then the whole process takes only a few seconds. This makes the market more efficient, but at the same time also takes risks out of the system. "
Forbes reports that Ripple has added 11 new universities to its University Blockchain Research Initiative (UBRI) including: Carnegie Mellon University, Cornell University, Duke University, Georgetown University, University of Kansas, University of Michigan, Morgan State University, National University of Singapore, Northeastern University, University of Sao Paulo, Institute for Fintech Research at Tsinghua University. The piece quotes Eric van Miltenburg, SVP of Global Operations at Ripple:
"We launched UBRI back in June of 2018 to provide support for 17 different universities around the world to help progress their study of blockchain technology, cryptography, digital assets and fintech. Blockchain is an incredibly transformational technology and helping advance the best minds in the world, who are already showing interest in this field, is sure to benefit the entire ecosystem. We've added 11 new universities this time around and now have 29 schools involved with the program. Expanding the ecosystem to a more global, diversified network of UBRI partners will only continue to enrich these projects."
The Bank of Korea (BOK) recently published a report which found that central bank digital currencies (CBDCs) could undermine financial stability, according to a report from South Korean outlet Yonhap News. Kwon Oh-ik, an author of the report, explained that people may erroneously put trust into the CBDC at the expense of traditional banks.
"The CBDC is a kind of a BOK-issued bank account. People trust it more than one in a commercial bank. Demand deposits are one of the biggest sources of loans by banks. When people pull out their money, banks raise rates, or lower the reserve ratio, to secure more funds."
TrustNodes reports that bitcoin (BTC) trading has reached new highs in Venezuela amid political turmoil and social upheaval. The report cites data from peer-to-peer exchange Local Bitcoins, which shows trading volume in excess of 2000 bitcoins (just under $7 million USD) in the first week of February.
Sam Mowers, Investorideas
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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
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