The theoretical payment network experimented with transactions in commercial bank deposit tokens, settling with hypothetical wholesale CBDCs on the same platform and using a shared ledger. It also looked at wholesale movement of U.S. dollars across borders. The network cut some of the friction over “speed, cost, off-hours availability, and the settlement process” for payments, according to the group’s proof-of-concept released Thursday.
We Must Protect Crypto-AI From Financial Nihilism
Financial nihilism is a common philosophy in Web3 but, ultimately, there’s no way to build long-lasting value without finding real...