Note: Since this was published, the repo markets have not improved; the Fed supplied another $205 billion to the market on October 18. See James Bianco's LinkedIn post for more at: http://bit.ly/35MM8QJ The Federal Reserve has extended its recent interventions into the securities repurchase, or “repo” market, into November. It’s the first time that the Fed’s intervened in … [Read more...] about Could the Crypto Market Protect Against a New Global Recession?
Blockchain
NACHA Promotes Blockchain-Backed B2B Payments Directory
B2B payments have historically caused problems in the financial services industry. Vendor onboarding, keeping current payment information, and ensuring the proper remittance are massive, time-consuming tasks that are only growing more complicated as real-time payments become a bigger factor. NACHA, through their October 1 acquisition of the Business Payments Directory … [Read more...] about NACHA Promotes Blockchain-Backed B2B Payments Directory
Financial Stability and Investment in the Age of Bitcoin and Blockchain Technologies
An international body that monitors the global financial system suggests that decentralized financial technologies may not be all bad. The Financial Stability Board (FSB) published a report on the regulatory and governance implications of decentralized financial technologies, suggesting that "the application of decentralised financial technologies may reduce some of the … [Read more...] about Financial Stability and Investment in the Age of Bitcoin and Blockchain Technologies
Has Blockchain Technology Crossed the Chasm?
A post crossed my LinkedIn feed last week stating the blockchain technology had "crossed the chasm" in enterprise finance, taking as evidence that awareness among large financial institutions is high, especially with JP Morgan's recent cryptocurrency- and blockchain technology-based service announcements. To check my initial reaction, I went back to my dog-eared and … [Read more...] about Has Blockchain Technology Crossed the Chasm?
New SEC Framework Charts a Narrow Way Forward for Token Developers
Are Initial Coin offerings (ICOs) legal? It's hard to know, with a number of vague hints - and enforcement actions - suggesting that the SEC largely views the answer to be no. And while the market is still well ahead of formal regulatory policy, some hints have finally been offered in a recently-issued "Framework for 'Investment Contract' Analysis of Digital Assets." What … [Read more...] about New SEC Framework Charts a Narrow Way Forward for Token Developers
A Reality Test for Enterprise Blockchain Technology at Financial Institutions
Following is the text from a talk I gave April 2 at the International Blockchain Congress held in Chicago. When it comes to blockchain projects for enterprise financial institutions, I'm sure I’m not alone in wondering, What's real? To be clear, I am not a naysayer. I understand the business possibilities for blockchain technology well enough to believe that it has … [Read more...] about A Reality Test for Enterprise Blockchain Technology at Financial Institutions