Sergey Shashev's article on Entrepreneur 📃
On the Entrepreneur media resource, the article written by Sergey Shashev was published.
During the last two years Sergey with the Broxus team participates in the development of the infrastructure for central banks to implement central bank digital currencies.
The article notes that CBDCs are digital versions of a country's fiat currency that are pegged at a 1-1 ratio with the original currency. For example, if the US were to release a CBDC, that would be in the form of a digital dollar that is always equal to its fiat counterpart.
CBDCs are, by definition, recognized digital legal tender. That means that, unlike other similar digital assets like stablecoins, CBDCs carry the equivalent legal weight as fiat currencies.
As a part of the partnership between Everscale and DA5, one of the leading authorized direct agents of Western Union in the Philippines, the blockchain remittance service will be the first technology in the Philippines capable of speeding up and lowering the cost of this process. As a result, people will no longer have to pay such high fees on their transactions once the service is launched.
It is assumed that most CBDC projects will start with stablecoins tied to national currencies. Thanks to the Everscale architecture, where each address is a smart contract, by creating a stablecoin, you can gradually update the smart contract, increase the user base, and transfer it to the CBDC, and then transfer the asset under the control of the central bank.
🔗 Enjoy the full article
#broxus #article #cbdc #post
On the Entrepreneur media resource, the article written by Sergey Shashev was published.
During the last two years Sergey with the Broxus team participates in the development of the infrastructure for central banks to implement central bank digital currencies.
The article notes that CBDCs are digital versions of a country's fiat currency that are pegged at a 1-1 ratio with the original currency. For example, if the US were to release a CBDC, that would be in the form of a digital dollar that is always equal to its fiat counterpart.
CBDCs are, by definition, recognized digital legal tender. That means that, unlike other similar digital assets like stablecoins, CBDCs carry the equivalent legal weight as fiat currencies.
As a part of the partnership between Everscale and DA5, one of the leading authorized direct agents of Western Union in the Philippines, the blockchain remittance service will be the first technology in the Philippines capable of speeding up and lowering the cost of this process. As a result, people will no longer have to pay such high fees on their transactions once the service is launched.
It is assumed that most CBDC projects will start with stablecoins tied to national currencies. Thanks to the Everscale architecture, where each address is a smart contract, by creating a stablecoin, you can gradually update the smart contract, increase the user base, and transfer it to the CBDC, and then transfer the asset under the control of the central bank.
🔗 Enjoy the full article
#broxus #article #cbdc #post
Use of blockchain in the digital identity systems 🆔
🛡 Roman D published a new article where he told about the use, challenges and prospects of blockchain technology in digital identification systems.
➡️ Let's highlight a few key points:
🛑 Secure and reliable digital identities are critical in the age of digitalization, and blockchain technology has the potential to revolutionize the management of this data
🛑 Blockchain eliminates the need for centralized authorities in identity verification, and ensures that identity records are secure and immutable
🛑 Blockchain-based systems simplify identity verification processes and reduce duplication
🛑 Users can control their own identity information on the blockchain
🛑 Leading blockchain-based digital identity solutions now include CIVIC, uPort, SelfKey and Ever SSI
🛑 Challenges include scalability, data monetization, and risk of biometric data theft
🛑 For blockchain-based digital identities to become mainstream, legal and regulatory issues need to be addressed
🔗 Read the full article
#ever #digitalidentity #article #post
#ever #digitalidentity #article #post
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