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Bank of Korea launches a department devoted to blockchain and AI

August 4th, 2020 at 11:27 am » Comments Off

Bank of Korea is launching a digital innovation department that will leverage blockchain and AI to improve business efficiency. The Bank of Korea has reportedly chosen to establish a “Digital Innovation department” through organizational reform in the second half of this year, according to the local news on July 22.

Banks in the US can now offer crypto custody services, regulator says

August 2nd, 2020 at 12:12 pm » Comments Off

  The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks in the U.S. provide custody services for cryptocurrencies. In a public letter dated July 22, Senior Deputy Comptroller and Senior Counsel Jonathan Gould wrote that any national bank can hold onto the unique cryptographic keys for a cryptocurrency wallet, […]

Op-ed: Let’s double down on PPP and save America’s endangered small businesses

July 29th, 2020 at 12:09 pm » Comments Off

KEY POINTS We’re working to pass legislation that does two things: First, make Paycheck Protection Program funds available to eligible businesses through at least the end of this year, and second, authorize a second round of forgivable loans to the businesses most severely impacted by the pandemic. We want to double down on PPP because, […]

Elon Musk advocates for universal basic income instead of second stimulus check

July 26th, 2020 at 1:57 pm » Comments Off

Tesla CEO Elon Musk wants his followers to know he still supports universal basic income, even though he thinks another coronavirus stimulus package from the U.S. government is a bad idea. In a Twitter thread published early Friday morning, Musk tweeted that any additional stimulus package from Congress is “not in the best interests of […]

Coronavirus has turned America into a nation of savers. But how long will it last?

July 8th, 2020 at 3:16 pm » Comments Off

With a busy life in Los Angeles, Anna McKitrick has trouble saving. The 25-year-old waitress and aspiring actress estimates she spends $200 a month on coffee, snacks, on-the-go meals, and other purchases she could live without. Now thanks to the coronavirus, McKitrick is stuck in her childhood home in New Jersey, living rent-free for the […]

The pandemic is doing to credit cards what iTunes did to CDs

July 7th, 2020 at 11:31 am » Comments Off

Mastercard’s head of digital solutions says the pandemic has forced many consumers to reconsider how they think about paying for things, and thinks many of those changes will last. Mastercard’s head of digital solutions explains how the pandemic has upended the way we buy. How many times have you used your credit card since the […]

Pentagon Documents Reveal The U.S. Has Planned For A Bitcoin Rebellion

June 27th, 2020 at 1:05 pm » Comments Off

Bitcoin has struggled to find support in the U.S. government, with president Donald Trump, along with Treasury secretary Steven Mnuchin, leading the criticism. Now, it’s been revealed the U.S. Department of Defense has wargamed scenarios involving a Generation Z rebellion that uses bitcoin to undermine and evade “the establishment.” In the Pentagon war game, young people […]

This small Washington town is printing its own currency. Here’s why

June 26th, 2020 at 10:34 am » Comments Off

Bryan Fisher, 16, left, and Stephen Smith, 15, of Tenino, Wash., keep occupied by playing video games in a stall near their cattle at the Puyallup Fair in Puyallup, Wash., Wednesday, Sept. 17, 2003. The largest fair in Washington will continue through Sept. 21.  A small town in the state of Washington decided to print […]

The rich have stopped spending and that has tanked the economy

June 22nd, 2020 at 11:06 am » Comments Off

A worker paints over a Louis Vuitton storefront, boarded up after the coronavirus outbreak, on March 30 in San Francisco. The wealthiest American households are keeping a tight grip on their purse strings even as their lower-income counterparts are spending a lot more freely when they emerge from weeks of lockdown. That decline in spending […]

The looming bank collapse

June 12th, 2020 at 12:08 pm » Comments Off

  The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.  After months of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these […]

Loaded with cash, global property buyers wait for sellers to crack under pandemic strain

June 2nd, 2020 at 12:41 pm » Comments Off

Private equity firms have US$328 billion cash to deploy for global real estate investment, according to Preqin data Sellers are only willing to offer discounts of 5 per cent while buyers are hoping for about 20 per cent concession The world’s biggest real estate investors are sitting on piles of cash, preparing for once-in-a-lifetime opportunities […]

Mortgage refinancings set to surge to a 17-year high

May 31st, 2020 at 4:28 pm » Comments Off

Lenders probably will originate $1.5 trillion in refis, a 51% jump from 2019, Fannie Mae says If you’re in the mortgage business, fasten your seatbelts. Refinance volume is set to spike to a 17-year high this year as mortgage rates fall to the lowest levels ever recorded, Fannie Mae said. Even as other parts of […]

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