TheDinarian
News • Business • Investing & Finance
? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
Interested? Want to learn more about the community?
Swift could integrate with mBridge CBDC cross border payment system? šŸ¤”

During a panel at the SIBOS banking event today, Mu Changchun said that the mBridge cross border CBDC payment system could connect to traditional payments systems, including real time gross settlement systems (RTGS) and faster payment systems. ā€œWe are looking forward to possible cooperation with Swift in the future,ā€ said Mr Mu, who leads the Digital Currency Institute of the People’s Bank of China.

mBridge uses distributed ledger technology (DLT) and wholesale central bank digital currency (wCBDC) to enable direct cross border payments, without using Swift or correspondent banks. Participants include the central banks of China, Hong Kong, Saudi Arabia, Thailand and the UAE, as well as the BIS Innovation Hub and numerous commercial banks. The initiative reached the minimum viable product (MVP) stage in June. By removing correspondent banks as intermediaries, payments are faster and cheaper.

Today it was revealed that mBridge is also being used for FX payment versus payment (PvP).

The possible connection between Swift and mBridge is noteworthy given that mBridge is a potential Swift competitor. SIBOS is Swift’s annual event, so Swift deserves credit for providing a public platform for mBridge. A collaboration between the two could be mutually beneficial. For Swift, its future role might evolve into being an integrator, as its recent CBDC interoperability and DLT trials have demonstrated. From mBridge’s perspective, it could expand the payment options available.

Former People’s Bank of China (PBoC)
Governor, Zhou Xiaochuan, also spoke at SIBOS, noting that some view China’s CIPS and mBridge as substitutes for Visa and Swift, but this is not his view. However, he expressed a hope that Swift could have ā€˜better’ governance noting that Swift’s governance was apolitical until the 9/11 attacks.

ā— mBridge and the dollar

While mBridge has been touted as promoting local currency usage, Governor Zhou said he believes that mBridge will have little impact on dollar usage. ā€œIn my mind, I think mBridge does not exclude the use of the dollar, yet,ā€ he said.

However, he believes the dollar’s status as reserve currency is up to the U.S. government. ā€œIf the U.S. government would like to use the U.S. dollar as a sanction tool, it may reduce the feasibility of other countries to use the U.S. dollar,ā€ he said. He added that liquidity, particularly the availability of currency swaps, is also important for a reserve currency.

ā— mBridge’s application sweet spots

PBoC Deputy Governor Lu Lei spoke about some of the mBridge applications. One is the usage of mBridge for FX payment versus payment (PvP) settlement.

The BIS and CPMI have frequently highlighted the ongoing risks in foreign exchange (FX) settlement. CLS, the FX central counterparty, only provides settlement in 18 currencies. Every day trillions of dollars in FX transactions are subject to settlement risks. The exposure in Hong Kong and Singapore is larger than the entire capital of all commercial banks combined. Hence, the use of mBridge could address some of these risks by enabling instant atomic settlement of the currencies exchanged using PvP.

Governor Lu also highlighted that banks currently poorly serves remittances and cross border ecommerce transactions. They have small values, are complex, have high KYC costs and limited profitability, which is why fees are so high. mBridge could help to address these issues.

Li Shu Pui of the Central Bank of the UAE sees three opportunity areas for mBridge. First, are the ones already mentioned for transaction banking – the combination of fast cross border payments and FX PvP settlement. Secondly, he noted the trend of connecting domestic payment systems internationally and cross border card transactions. Currently, for the settlement between banks these often use deferred settlement, whereas mBridge could help with instant settlement. Thirdly, tokenization and the market for tokenized assets will expand. Hence, mBridge could be used to settle cross border transactions in the future.

Mr Li gave an update on mBridge’s progress. He said there have been a few hundred transactions so far, representing the equivalent of a few billion dollars. His UAE colleagues estimated that last month’s transactions increased by around 35%.

ā— Progressing mBridge’s technology

Turning to technology, the mBridge ledger is decentralized, with central banks and commercial banks operating their own nodes, databases, and key paris. According to PBoC’s Mr Mu, who leads the technical sub committee, each bank has autonomy over its own system. Central banks participate in the blockchain consensus, but commercial banks do not.

One challenge encountered is unstable network conditions. The consensus mechanism was upgraded this year to help, increasing the efficiency by 30%. Mr Mu said this involved weak certificates (we may have misheard and hope to clarify).

On the privacy front, currently mBridge relies on a randomly generated method for pseudonymous identifiers. However, they are working on a zero knowledge proof solution (ZKP), which should hide (rather than obfuscate) information. The target is to launch this in 2025.

While part of the system is based on Ethereum, some of the technology was developed in China, including the novel consensus mechanism. The BIS is in the process of hiring vendors for third party code reviews and open source assessments. The aim is to fully open source the code in the future, but for now all the central banks have access to the source code.

ā— Implementation challenges to so far

Meanwhile, Alisara Mahasandana from the Bank of Thailand outlined a few challenges encountered by the commercial banks during the early pilot phase.

Banks have to pre-fund mBridge payments, whereas traditionally they relied on correspondent banks for this. Plus the banks need to manage the liquidity of both fiat currency and the CBDC.

In terms of FX, there is no wholesale FX market for CBDC. So banks have to do the trade in fiat currency and then use it for the conversion of CBDC.

Regarding regulation, the banks had to introduce additional processes to adhere to the AML and CFTC requirements for each counterparty jurisdiction.

https://www.ledgerinsights.com/swift-could-integrate-with-mbridge-cbdc-cross-border-payment-system/

Interested? Want to learn more about the community?
What else you may like…
Videos
Podcasts
Posts
Articles
The Gold Standard āœØļø And The USD šŸ’µ
00:02:30
IMF Admitting Crypto Is Inevitable šŸ’„

When you have the IMF Admitting crypto is inevitable, BlackRock Tokenizing the financial system, the FED hinting at ending QT, Gold doing a parabolic move & the FED hinting at renewed easing.

This isn’t coincidence.
This is strategic coordination.

OP: Vandell33

00:00:47
Listen to this... 🤯

Catherine Fitts, she just revealed that interdimensional beings are pulling the strings in this world šŸ§šŸ˜±šŸ‘½

šŸ‘‰Re-read your religious book, with interdimensional beings in mind and it will all start to make sense... šŸ˜‰

00:00:23
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

🚨 JOHN BOLLINGER WARNS: ā€œPAY ATTENTION SOONā€ AS CHARTS SIGNAL IMMINENT MAJOR MOVE 🚨

Veteran technical analyst John Bollinger—the creator of the Bollinger Bands indicator—has identified potential ā€œW bottomā€ patterns forming on the charts of Ether (ETH) and Solana (SOL), and advises traders to watch closely for a significant market move.

šŸ”‘ Key Points:

šŸ”¹ W Bottom Setups: Bollinger sees early signs of double-bottom (ā€œWā€) formations in both Ether and Solana, which historically signal bullish reversals and the potential for substantial price advances if confirmed.

šŸ”¹ Bitcoin Lagging—But Watch Closely: While the pattern hasn't emerged on Bitcoin’s chart yet, BTC has posted a ā€œVā€ shaped recovery after a major dip below $104,000, and now sits at the lower end of its recent range. Past market behavior suggests that similar patterns could soon develop for Bitcoin.

šŸ”¹ Historical Precedent: The last time Bollinger issued a comparable alert was July 2024—Bitcoin ...

🚨 SOLCRAVO LAUNCHES XRP SMART CONTRACTS: ENHANCING UTILITY AND YIELD FOR XRP HOLDERS 🚨

SolCravo has launched a new platform delivering smart contracts for XRP, enabling holders to earn on-chain yields and participate in automated asset management without selling or transferring their XRP.

šŸ”‘ Key Points:

šŸ”¹ Core Offering: SolCravo allows users to connect their XRP wallets and engage directly with smart contracts that automate income generation, putting their assets to work while maintaining full self-custody and control. The service is intended to be user-friendly for both new and experienced participants.

šŸ”¹ Multi-Asset Support: While focused on XRP, SolCravo's platform is multi-chain—supporting BTC, ETH, BNB, LTC, SOL, and USDT alongside XRP, making it a centralized hub for asset management and smart contract engagement for leading cryptocurrencies.

šŸ”¹ Contract Tiers: Users can select among several contract options, ranging from a $100 ā€œStarter Contractā€ to a $16,000+ ...

post photo preview

šŸ”„ BINANCE CRACKS DOWN ON BOT FARMS, BANS OVER 600 ACCOUNTS šŸ”„

Binance has taken swift and decisive action to maintain the integrity of its Binance Alpha program, permanently banning over 600 accounts for engaging in fraudulent activity.

The accounts were found to be abusing the platform's reward mechanisms using sophisticated, automated tools, commonly referred to as "bot farms."

šŸ”‘ Key Details:

šŸ”¹ Platform Targeted: Binance Alpha is a section within the Binance ecosystem (often tied to the Binance Web3 Wallet) designed to give users early access to promising, emerging crypto projects and exclusive token generation events (TGEs) through its Alpha Points system.

šŸ”¹ The Violation: The banned accounts were utilizing fraudulent automated tools (scripts, bots, and other non-manual methods) to unfairly "farm" or accumulate Alpha Points and disproportionately claim rewards, effectively cheating the system and undermining the fairness for legitimate ...

post photo preview
post photo preview
New Human Force
Join this Now! YOU have what it takes!

They are in our solar system, and in our event-stream in this Eternal Now.

Officialdom is clueless.

They think we are going to be at WAR with the Aliens.

Officialdom is very stupid.

Aliens is here. It’s not WAR. It’s Contention.

There is a difference.

Officialdom is clueless, still living in the last Millennium.

Aliens is here.

The Field in which we contend is This Eternal Now.

ALL HUMANS LIVE HERE, and ONLY HERE, in this

ETERNAL NOW.

It’s a Field of potentials, of pending Manifestation, this continuous event-stream of karma in which we have always lived our body’s Life.

This Eternal Now has always been our body’s Field of Contention.

The Aliens is here, in our Eternal Now.

Our common, shared, reality that we all continuously co-create now has Aliens.

It’s getting very complex in here.

Officialdom is clueless. They see the Aliens. They are freaking out. They think you are children, when it is their small minds, trapped in a reality that is only grit, mud, and ā€˜random chance’ who are childish.

Officialdom is stupid. They will and are reacting badly. As is their way, they are trying to hide shit from you. Silly grit bound minds don’t realize you can see everything from within the Eternal Now. They have yet to grasp that what they perceive as this Matterium, filled with ā€˜matter’, is but a hardening of our previous (past) internal states of being.

WAR happens in the Matterium.

Contention occurs within this Eternal Now where Consciousness shapes the manifesting event-stream.

YOU know this to be fact. You are a co-creator.

Contention with Aliens is happening in this instant in this Eternal Now.

Officialdom ain’t doing shit. They are still stuck in trying to move matter around to affect unfolding circumstances. That’s redoing the mirror trying to affect the reflection. Dumb fucks….

It’s up to US. To the New Humans. Those of us who live in this Eternal Now. Those of us who see that our body’s Lives (the Chain that cannot be broken) are expressions of the Ontology revealing itself to itself. It’s up to us guys.

We are not an Army. That’s a concept from the past, from before the emergence of the New Humans. We are a Force. A self-organizing collective with leadership resident in each, and every participant.

We are the New Human Force. By the time officialdom starts to speak about the Aliens in near-factual terms, we will already be engaging them in this Eternal Now.

By the time officialdom begins to move matter around (space ships & such) thinking it’s War, we will already be suffering casualties in this Eternal Now. That part is inevitable. It’s how we learn.

By the time officialdom realizes that some shit is going on in places and ways beyond its conception, we will already be pushing our dominance onto our partners in this First Contention, the Aliens. Nage cannot train without Uke.

Just as officialdom is scrambling to research the Ontology, this Eternal Now, and the event-stream, we will be settling terms with our new partners, the Aliens.

Come, join with us. It’s going to be a hellacious Contention.

We ARE the NEW HUMANS!

Together we are the Force that cannot be defeated.

Start YOUR training in this instance of this Eternal NOW.

Consume Neville Goddard videos as though all of human existence depended on YOUR mind and YOUR active, effective, imaginings!

It’s not a question of Mind over Matter as there is only Mind and it cares not for Matter. That’s residue.

Source

šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto DonationsšŸ‘‡
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto DonationsšŸ‘‡
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
post photo preview
US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

Read full Article
See More
Available on mobile and TV devices
google store google store app store app store
google store google store app tv store app tv store amazon store amazon store roku store roku store
Powered by Locals