Industry Insights

European Central Bank - Report on a Digital Euro

The European Central Bank has recently released a report that outlines the practicality benefits of issuing a digital version of the euro. This report also explores the probable risks that this digital euro could present to the current financial system.

Celo Blockchain Platform to Add Bitcoin for Mobile Users

Celo has announced that they will join forces with tBTC, a Bitcoin-pegged token, to create a bridge between Bitcoin and the Celo platform. By adding Bitcoin, Celo is able to tap into the liquidity of Bitcoin and use it as collateral in the Celo stablecoin reserve, enhancing the longevity of the cryptocurrency economy.

Algorand Announces Unique Key Management Approach

Algorand's new rekeying feature will provide users with more flexibility and security by allowing users to change their private spending key without having to change their public address.

Practices to Build a Flexible Workforce as Outlined by Bain & Co.

COVID-19 has highlighted adjustments to the workplace including a permanent shift towards flexibility in the workforce. By implementing practices that will cultivate the benefits of flexibility, companies can create a model that is both efficient and sustainable.

Central Bank Digital Currency - A Caribbean Aspect

As the global acceptance of Central Bank Digital Currency continues to increase, there are a few key contenders representing the Caribbean central banks. Some of the notable CBDC projects in this region include:  

State of Wyoming Approves Kraken as First SPDI

Cryptocurrency trading platform Kraken has become the first crypto company to receive a bank charter. This license is recognised under the federal law to operate as a bank in the United States. Under this license, Kraken will be able to offer multiple cryptocurrency-based financial services. 

FATF Virtual Assets Red Flag Indicators

The Financial Action Task Force (FATF) has recently published a report outlining the red flag indicators of virtual assets. This report will assist authorities in determining if virtual assets are being used for criminal activity and will also assist VASPs and other financial service providers in detecting and reporting suspicious transactions. 

Virtual Asset Discovery, Valuation and Safeguarding - The Effect on Liquidators

Virtual assets saw an explosion in growth, in part due to the meteoric rise of initial coin offerings (ICOs) in 2017. While a small number succeeded into longer term prospects, a large number of projects are trickling down onto the client books of liquidators. This has meant a shift from some of the traditional recovery, valuation and safeguarding processes liquidators have previously been used to, due to the nature and functionality of the underlying virtual assets.

The Fed Experiments with Distributed Ledger Technology

The FooWire project was conducted by the Federal Reserve Board to help evaluate the potential of technology payments. Throughout this research, the Federal Reserve Board was able to explore the application of Distributed Ledger Techonology (DLT) and better understand how organisations can leverage these systems.

Project Ubin Phase 5: Enabling Broad Ecosystem Opportunities