#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.
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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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