14/12/2021
Morning Crypto....
Over the weekend, number were released that showed that US inflation had reached a 39 year high. Further prooving 2 very important things.
1. The dollar, in it's current form is FINISHED
2. The digital asset economy, the blockchain industry that we invest in, is here to stay.
that is why, we see
The IMF calling for Crypot regulation to be Comprehensive, Consistent annnd...Coordinated.
China has linked with Hong Kong's payment system for a faster version of there CBDC,
And The Warren Buffet backed Nu Bank has gone public in both Brazil and the US.
but the biggest news, besides the fact that DEFI was invented by a black man....
But the BIGGEST NEWS, that lays underneath it all.
Is the announcement that ISO 20022 services will be availiable a full year prior to the official launch.
This is going to be our main focus here
With ISO providing early access to banks worldwide this mean that the wheels are turning a bit sooner than expected and we must now turn our attentions to the ISO compliant blockchains that we know of in the space.
Before we do that however lets find out more about this new announcement
It states that on December 9th SWIFT announced the availibilty of new In flow translation serivces and confirms that it now offers a full ISO 20022 customer testing environment for cross boarder payments.
The Inflow translations will enable financial istitutions to realise the benefits of rich data when they migrate to ISO 20022 even if there counter parts have not yet adopted it.
Keep in mind guys, that the ISO system is a messaging system, this news messaging system is what will allow for high thoruput coming from alot of these high powered blockchains that aim to become compliant.
In a quote it says, The service translates rich ISO messages into the existing format for banks that are not ready to process ISO messages immediately. This will ensure that all financial institutions on the SWIFT network can continue to transact normally during the industry's migration which is set to begin in late 2022 and run to 2025.
It is also important to know that early adopters of the ISO system will be able to use the new standard as early as August. ALL banks will be automatically enrolled in the services by November of 22.
Now if you watched our last episode on the agenda for 2022, we know exactly why we are seeing this. The G20 has made cross boarder payments the priority and now they're biggest weapon is ready for battle.
But what are we going to do? What weapons do we have?
Well let's go into the armory...
There are two VERY important groups that we need to pay attention to. The first is the RTPG or the Real Time Payments Group. It is this group that consist of more than 70 stakeholders from 17 different countries inlcuding Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, India, Italy, Japan, Norway, Poland, Switzerland, The Netherlands, UK and the US with representation from payments service providers, financial institutions, regulators etc.
The second group we must pay attention to is the Payments SEG member list. This is a list of companies/banks that will most likely be the first to adopt this new standard.
This is were we find our weaponry....
You'll see hear that we have a list of nations and the corresponding entities that represent them.
First is Australia, who we know is very public about there digital currency ambitons.
Next we have Canada, this is were we draw our first weapon.
The Canadian Payments Asssociation, which is responsible for the payment clearing and setllement infrastructure, inlcuding associated systems, bylaws, rules and of cousre standards.
This can be considered the governing body in that region for Digital payments.
Notice they also included associated systems, first thing that comes to mind is Stablecorp, aka the Canadian stablecoin issued on the Stellar Blockchain.
On top of that, december 6th Stellar announced the arrival of a Layer 2 channel protocol. This new protocol is going to allow XLM to process over a million payments per second.
Next we have China, in the form of the China financial Computerization Corporation. Clearly they have some sort of influence over the linking China CBDC to the Hong Kong Network.
Then there's France, our next weapon, because this bring's Societe Generale into the discussion and with that we have Tezos.
Back in April of this year, Societe Generale issued the first structured financial product on a public blockchain. That public blockchain was Tezos.
Goin through the rest of the list we can see other huge names in the space. Mastercard, Deutsche Bank, DNB and Ofcourse ripple.
which we know has a global reach and is actively seekiing more nations to join there ranks. for exaple in november Ripple partnered with the Republic of Palau for a CBDC.
By the way this is weapon 3.
Now our next one is going to take us into South Africa, which we know is a hot bed right now when it comes to digital asset adoption.
Many of our favorite projects are doing work here, but one project working very hard in africa that no one is talking about is Celo.
In september they held an event that had some very big names in attendance. Representatives from central banks, the IMF and the bank of international settlements were gathered to discuss how blockchain tech might change the DNA of money.
Coninuing on we see The Six Group, Solana
Vocalink and Barclays, Then right at the bottom of the list we have the New York federal reserve. Who we know just partnered with the BIS, on a fintech reaearch center.
Now who else do we know is working hand in hand with the Fed in New York? Emtech...Project New Dawn, Project New Dawn is built on which network? That's right, Hello Future it's Hedera hashgraph.
These are the biggest names, our sharpest tools if you will. But one project in particular has risen to the surface.
In November, Crypto.com became one of the most secure platforms in the world with this SOC2 Compliant certification. This certification makes Crypto.com compliant with the coming ISO standards that we now know are having an early release. No wonder they got into positoin when they did.
So this is the new narrative in which to follow. The movement to these ISO standards will usher in the payment coin reniasannce. The most important coins will be those that bolster, interopeability, speed and security. Earlier in the year, we thought that ISO coins were a select few, an elite class.
In light of recent information, after a years worth of research I have reached a new conlcusion. We shouldn't look to ISO projects as being a select few. We should look for that blockchain that are stiving to BECOME ISO compliant. Becuase ISO 20022 IS THE NEW STANDARD.
