Fed Announces “FedNow” Fast Payments System For 2023
The Federal Reserve (Fed) Vice Chair Lael Brainard was part of an event to test their upcoming instant payment system, called FedNow. The new payment solution is set for deployment between May and July 2023, as the government official confirmed. Related Reading: Charles Hoskinson Announces New Timeline For Cardano Hard Fork, Price Pump Incoming? Brainard […]
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A vast majority of the population in Tunisia is unbanked, giving rise to the need for an alternative payments system. The country is currently able to tap into the blockchain technology or distributed ledger to be used for its mobile payments platform under Swiss software startup Monetas and the La Poste Tunisienne or postal office. Monetas will serve as the software provider, offering the technological architecture necessary to support the blockchain payments system similar to that of MPesa. Intersystem Blockchain Payments. While there are several alternative payments systems offered in....
BitGold Inc. has announced the public launch of the BitGold platform, a software service that connects gold storage with payment networks, resulting in a banking-like platform for gold. The announcement refers to the BitGold platform as a "new global operating system for gold." In fact, BitGold is a digital payments platform that connects gold stored in real-world vaults with online payments. Though the BitGold press release emphasizes that BitGold is not a cryptocurrency like bitcoin, there are similarities. In particular, the BitGold platform allows for the quick settlement of gold....
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The UK government’s Department of Work and Pensions is spearheading an experiment in which a blockchain system is used to distribute welfare payments. The department has partnered with UK-based banking institution Barclays, the UK arm of German energy firm RWE, fintech startup GovCoin and University College London. The project was unveiled during a payments conference earlier this month during a talk given by David Freur, state minister for welfare reform. As quoted by regulatory data provider PaymentsCompliance, Freud suggested that the project's success or failure would be determined by....