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1/ @vechainofficial and #CBDC
Bear with me on this thread as it is a break from my usual norm and deals with a fair bit of speculation. I would like to start with the below quote from @jasonrockwood
Bear with me on this thread as it is a break from my usual norm and deals with a fair bit of speculation. I would like to start with the below quote from @jasonrockwood
2/ Research paper on Retail CBDCs published by @IMFNews on June 26 and co-authored by @PeterZh47977516 .
https://www.imf.org/en/Publications/WP/Issues/2020/06/26/A-Survey-of-Research-on-Retail-Central-Bank-Digital-Currency-49517
Page 27:
https://www.imf.org/en/Publications/WP/Issues/2020/06/26/A-Survey-of-Research-on-Retail-Central-Bank-Digital-Currency-49517
Page 27:
3/Box 1: Synthetic CBDC (sCBDC)
"sCBDC is backed with central bank reserves, and thus differs from privately issued digital currencies such as e-money, stablecoins, or crypto-assets that are not backed by any asset."
Now refer to VeChain Whitepaper 2.0
https://www.vechain.org/whitepaper/#bit_zxhvz
"sCBDC is backed with central bank reserves, and thus differs from privately issued digital currencies such as e-money, stablecoins, or crypto-assets that are not backed by any asset."
Now refer to VeChain Whitepaper 2.0
https://www.vechain.org/whitepaper/#bit_zxhvz
4/ IMF paper: " Permissionless platforms (with
decentralized authority), on the other hand, fall short on scalability, settlement finality, and financial integrity risk management."
@sunshinelu24 AMA, Nov 24 2019: VeChain works on upgraded consensus model https://vechaininsider.com/news/recap-of-the-ama-with-sunny-lu-on-nov-24th/
decentralized authority), on the other hand, fall short on scalability, settlement finality, and financial integrity risk management."
@sunshinelu24 AMA, Nov 24 2019: VeChain works on upgraded consensus model https://vechaininsider.com/news/recap-of-the-ama-with-sunny-lu-on-nov-24th/
5/PoA 2.0 brings scalability & finality to #VeChainThor & is developed based on customer feedback
Full technical breakdown here:
My non-technical breakdown here: https://coil.com/p/BreadGarlicHouse/Consensus-mechanisms-in-Blockchains-for-the-lay-person/gx1J-Db7B
Full technical breakdown here:
My non-technical breakdown here: https://coil.com/p/BreadGarlicHouse/Consensus-mechanisms-in-Blockchains-for-the-lay-person/gx1J-Db7B
6/IMF paper: "sCBDC thus requires central banks to widen access to their reserves to non-bank financial firms, BigTechs, and fintech startups"
https://medium.com/@vechainofficial/san-marino-republic-adopts-vechainthor-blockchain-to-strive-to-become-the-first-carbon-neutral-8cd6fb31b2a6
https://medium.com/@vechainofficial/san-marino-republic-adopts-vechainthor-blockchain-to-strive-to-become-the-first-carbon-neutral-8cd6fb31b2a6
7/ To conclude, it is my assumption that the ideas mentioned in the IMF paper, particularly around sCBDCs might be implemented on #VeChainThor as a Euro stablecoin backed by the San Marino CB; and that PoA 2.0 is being developed for this use case.
DYOR.
DYOR.
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