On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
The Bank of International Settlements has outlined plans to embark on a variety of CBDC trials worldwide this year.
CBDC research has been announced as a top priority for the Bank for International Settlements’ Innovation Hub, or BISIH, in 2021.
According to its annual work program, BISIH, plans to “explore the feasibility of faster and cheaper cross-border payments” using central bank digital currencies. BISIH also stated it will explore prototypes of “tiered retail CBDC distribution architectures” and distributed ledgers to issue “tokenized green bonds to retail investors.”
The BIS initiatives will be driven by the Innovation Hub Centres in Hong Kong, Singapore, and Switzerland — which have been established in conjunction with local central banks.
The BISIH center in Singapore has been tasked with building an “international settlement platform” on which regulated banks and payment firms can settle transactions using different CBDCs.
The Hong Kong center will work on the green bond tokenization project, in addition to building a bridge to facilitate foreign exchange transactions using CBDCs, and exploring different models for stablecoin issuance.
BISIH’s Swiss center has already completed two proofs-of-concept linking existing payment systems to trial settling tokenized assets using wholesale CBDC through its “Project Helvetia” initiative.
BISIH head, Benoît Cœuré, said:
“This work programme shows our commitment to exploring in the most practical ways how best to harness technological change for the benefit of central banks and create public goods to support the global financial system.”
In November, BIS recommended “embedded” reporting requirements for prospective stablecoin issuers, advocating for automated data sharing processes between issuers and regulators.
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