#CryptoCorner: Zuckerberg (Nasdaq: $FB) Vindicated as China Makes Moves in #Blockchain Space, and Volkswagen (OTC: $VWAGY) Joins Responsible Sourcing Blockchain Network
#CryptoCorner: Zuckerberg
(Nasdaq: $FB) Vindicated as China Makes Moves in #Blockchain Space, and
Volkswagen (OTC: $VWAGY) Joins Responsible Sourcing Blockchain Network
Point Roberts, WA, Delta BC November 6,
2019 - Investorideas.com, a leader in
crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
what’s driving the cryptocurrency market .
Listen
to today’s Crypto Corner Podcast:
Stocks discussed: (NasdaqGS:FB) (NYSE:IBM) (NYSE:F)
(OTC:VWAGY)
The president of
Romania’s Fiscal Council, Daniel Daianu, made some critical remarks about
Facebook’s (NasdaqGS:FB) Libra in a speech at the Romanian
Academy today, according to local outlet Business
Review.
In an excerpt from his speech Daianu warns:
“It is not only about the monetary system. It is not by
chance that libertarians are so attached to this vision. Those who reject
central banks would like to return to the world of free-banking. That is why
Libra is very dangerous, because it would target billions of users and in fact
would almost inevitably fracture the monetary system and central banks would
lose their effectiveness.”
Elsewhere Facebook
CEO Mark Zuckerberg appears to have been vindicated when he warned that Western
stifling of projects like Libra would hand an advantage to the People’s
Republic of China. CCN reports that, at
the time, Zuckerberg told U.S. regulators:
“While we debate these issues, the rest of the world
isn’t waiting. China is moving quickly to launch similar ideas in the coming
months… If America doesn’t innovate, our financial leadership is not
guaranteed.”
And yesterday, Global Times reported that the
People's Bank of China (PBC) signed a memorandum of understanding (MoU) with
telecom giant Huawei Technologies. While details of the agreement remain
unknown, an anonymous insider told Global Times:
"It could fast track the launch of China's digital
currency."
A press
release
today from the Hong Kong Monetary Authority (HKMA) indicates that Hong Kong
Interbank Clearing Limited, has signed a
memorandum of understanding (MoU) with the Institute of Digital Currency of the
PBC. The agreement aims to conduct a Proof-of-Concept trial, in a bid to
connect the HKMA’s eTradeConnect, a blockchain-based trade finance platform,
and the PBoC’s Trade Finance Platform. According to the press release, “it will
provide firms in both places with more convenient trade finance services and
enable banks in Hong Kong to expedite the expansion of their trade finance
business”.
The Responsible
Sourcing Blockchain Network (RSBN), a blockchain consortium built on the IBM (NYSE:IBM) Blockchain, has
successfully completed the pilot phase
for its digital supply chain of cobalt. Also, Volvo Cars joined RSBN today,
while Ford (NYSE:F), Volkswagen (OTC:VWAGY) and LG (KSE:066570) are already a
part of the network. Dr. Nicholas Garrett, CEO of RCS Global Group, which
assures the project, commented:
"We are setting in motion a process of mainstreaming
responsible sourcing practices across major industries. We've reached
significant new milestones as we've moved beyond testing, proving the merits of
this coupled technology and assurance model can extend to a wide range of
participants across every tier of the supply chain and to other minerals. The
early addition of Volkswagen Group and now Volvo Cars to this collaboration
confirms that blockchain technology together with responsible sourcing
assurance can help address critical sustainability issues impacting the entire
industry."
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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