Could OCC’s New Crypto Guidance Turn Banks to Be “Always Online”?
Amidst the much heated global discussion of digital currencies right at the beginning of 2021, the Office of the Comptroller of Currency (OCC) brought forward an interpretive letter (# 1174), like the music taking ears in the Blockchain innovation market much in surprise.
The letter is generally heralded as the efforts in clarifying road rules from the U.S. regulatory agency for the application of innovative crypto technologies, paving the way forward for the national banks and the Federal Reserve Associations to use the new powerful technologies, including the Independent…
Updated from my original article at Bitnews Today
“…the dominant note of our time is unreality.”
The tide of blockchain “Killer-App” ebbs and rises. Back in 2017–18, ICO (Initial Coin Offering ) was the name of game. It’s shifted towards DeFi (Decentralized finance). Billions of dollar is ushering in another era of crypto maze.
For some, the relentless naming and chasing of “killer-app” is a need of money game. For others, even amongst serious blockchain technocrats and adoption-ers, it hints a question on confidence -where is blockchain going to be useful at scale? How soon?
Is CryptoKitties just a “scarce digital image of a cat”? A piece once sold in an auction at peak excitement for $170,000.
“COLLECTIONS”, the oldest Chinese antique art collection journal, is also riding on the uptrend of blockchain. In its October 2018 “Blockchain” Special Edition.
Last year in US, the art-secured lending market grew 13.3 percent to $20 billion, according to the 2017 Deloitte Art & Finance Report.
Plenty of talks of the “financialization” of art. If art is becoming a kind of asset class, are artists becoming the new “crypto-financiers”?
Reckon the “Da Vinci Code”!
Which recording artist sang the best “bubble” song in the history of popular music? Obviously there’s no officially correct answer. But if you want to know someone that I think should at least be in the running for that title, that is, believe it or not, this one.
The same could be said of the current ICO gold-rush. There is nothing so disturbing to one’s judgement as to see a friend getting rich. So wrote Charles Kindleberger, a historian of financial bubbles and an MIT economist.
In 2017, there were nearly 800 ICOs issued, raising over $5 billion, up from…
Once upon a time there were an elephant and four blind men. They were curious how elephant looked like, so reaching out their hands and touching the elephant. “An elephant is like a rope!” the first one who pinched the tail cried cheerfully. “Wrong! It’s like a big tree!” the one standing by the leg disapproved. “It’s as solid and thick as a wall!” the third touching on the side asserted. “What fools you all are!” thoughtfully the last one exclaimed while tracing the movement of the trunk, “Elephant is a big flexible hose!”