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Monday, October 5, 2020

#CryptoCorner Episode 459: Bank of Thailand Launches Savings Bonds Platform on IBM (NYSE: $IBM) #Blockchain and #Bitcoin Volatility at 23-Month Low

#CryptoCorner Episode 459: Bank of Thailand Launches Savings Bonds Platform on IBM (NYSE: $IBM) #Blockchain and #Bitcoin Volatility at 23-Month Low

 


Point Roberts, WA, Delta BC October 5, 2020 -  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 cryptocurrency stocks and the crypto market.

 

Listen to today’s Crypto Corner Podcast:  

https://www.investorideas.com/Audio/Podcasts/2020/100520-CryptoMarket.mp3

 

Read this in full at https://www.investorideas.com/news/2020/crypto-corner/10051Thailand-IBM.asp

 

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Stocks discussed: (NYSE:IBM)

 

The Bank of Thailand has launched the world's first blockchain-based savings bonds platform on the IBM (NYSE:IBM) Blockchain. The technology, leveraged from IBM Cloud, streamlines the bond issuance process, reducing its cost and operational complexity. Patama Chantaruck, VP for Indochina Expansion and MD of IBM Thailand, said:

 

"Bank of Thailand's success with the government savings bond project is the latest example of how blockchain technology can redefine the way businesses operate by simplifying complex processes resulting in fast, transparent, secured and efficient multiparty collaboration. IBM is proud to bring our world-class blockchain platform and IBM Cloud to support Bank of Thailand, and work side-by-side with them in achieving this important milestone for Thailand's financial industry."

 

The European Central Bank (ECB) recently published a report exploring the concept of a digital Euro currency. The following excerpt from the report’s executive summary outlines some of the impetus behind the project:

 

A digital euro could support the Eurosystem’s objectives by providing citizens with access to a safe form of money in the fast-changing digital world. This would support Europe’s drive towards continued innovation. It would also contribute to its strategic autonomy by providing an alternative to foreign payment providers for fast and efficient payments in Europe and beyond.

 

Elsewhere in the report, the authors contrast the idea of a digital Euro with that of stablecoins and cryptocurrencies, characterizing the latter variously as being “mostly unregulated,” and “highly volatile because crypto-assets lack any intrinsic value.” An excerpt reads:

 

All forms of “stablecoins”, aim at keeping their value stable over time, but this can only be guaranteed by a digital euro.

 

On the subject of volatility, however, a recent piece from CoinDesk indicates that Bitcoin’s (BTC) volatility reached a 23-month low on Sunday and that in the past 30 days dropped 43 percent. Moreover, even with a week of potentially destabilizing news – like President Trump’s testing positive for COVID-19 – Bitcoin only saw less than five percent drop.

 

 

Sam Mowers, Investorideas

 

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