NewsReviews: Week of Feb 3rd, 2020
What are the latest, greatest developments in digital assets and blockchain? Apifiny’s experts highlight the week’s top headlines.
YahooFinance: ConsenSys Acquires US Broker-Dealer in Bid to Tokenize Trillion-Dollar ‘Muni’ Bond Market
- Muni bonds are very popular investments, but face a lot of clerical errors. Consensys recently purchased a U.S-based broker-dealer with the belief blockchain can disrupt the muni market.
- The purchase allows ConsenSys advisory and broker-dealer capabilities in the U.S., which allows it to offer newly tokenized municipal bonds through its ethereum-based operating system, Codefi.
- Distributed ledgers has the potential to disrupt the muni market automating repayments and track obligations and bond transfers on the secondary market, while a smart-contract layer could also replace much of the legal contract work that presently has to be done manually by banks.
CoinDesk:Fed Reserve Is Researching DLT-Based Digital Dollar
- The Fed is researching distributed ledger technologies and their use case for digital currencies, including the possibility for a central bank digital currency (CBDC).
- The Fed’s new stance toward digital currencies might be in response to the privately administered digital currencies. The unexpected release of Libra last summer “imparted urgency to the debate over what form money can take, who or what can issue it, and how payments can be recorded and settled.”
- Although the Fed has not joined the working group, Brainard said in her speech the U.S. central bank was already “collaborating with other central banks as we advance our understanding of central bank digital currencies.”
CoinTelegraph: You Can Now Use Cryptocurrency to Trade ‘TRUMP-2020’ Futures
- Cryptocurrency derivatives exchange FTX has created a new, specialized futures contract for traders to bet on President Donal Trump’s reelection in 2020.
- With the election on Nov. 3, 2020, FTX says it will handle the contract after all the media outlets have agreed upon a candidate as the winner.
- This gave many traders a reason to thank Trump for the “no news is bad news” publicity for cryptocurrency, or “Trump bump.”
Podcast Pick of the Week:
Here are two podcast episodes we’ve revisited more than once — we consider these essential listening for anyone interested in the true roots of distributed ledger technology. Don’t miss “Scott Stornetta: The Founding Father of Blockchain”, listen to Episode 1 here and Episode 2 here. Host Bryant Nielson walks listeners through some of the eureka moments of blockchain with Scott Stornetta, whose work is referenced multiple times in Satoshi Nakamoto’s famed Bitcoin whitepaper.
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