New Coronavirus Stimulus Bill Introduces Digital Dollar And Digital Dollar Wallets

As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital […]

 

 

 

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PNC Bank Using Ripple XCurrent — Is Interest in Blockchain Rising?

Stablecoins have a goal of putting an end to the recent volatility of the crypto market — and in doing so, they have opened the door to crypto usage for institutional investors, which has long been considered an important milestone on the road to mainstream adoption. One of the ways that institutional investors are looking to implement crypto solutions is in cross-border payments and remittances.

The RippleNet blockchain is one such product, which aims to reinvent how these payments are made. Recently, Cointelegraph reported that PNC, the United States’ eighth-largest bank, has become the first in the country to start using the cross-border payments solution xCurrent. Earlier, Cointelegraph reported that Spanish banking giant Santander was also looking to make use of the solution from Ripple.

In an email conversation with Cointelegraph, Ripple explained how xCurrent will benefit PNC’s customers:

“With more than eight million customers and retail branches in 19 states across the U.S., RippleNet enables PNC’s commercial clients to receive payments instantly and revolutionise the way they process cash flow and manage accounts. With xCurrent, PNC can communicate with customers instantly and confirm payments both before and after a transaction.”

Companies in pharmaceutical supply chain develop system to track counterfeit drugs

NEW YORK (Reuters) – Some of the industry’s largest pharmaceutical companies, including Pfizer Inc ( PFE.N ) and Eli Lilly and Co ( LLY.N ), have developed a blockchain-based system to track prescription drugs across the supply chain to better halt the flow of counterfeit medicines, company officials said on Friday. FILE PHOTO: The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S., August 1, 2016. REUTERS/Andrew Kelly Some two […]

 

 

Opinion: When blockchain arrives in fintech, Visa, PayPal and other companies will feel the pain

iStockphoto Finance is changing rapidly through mergers and acquisitions, but not rapidly enough. There will be tremendous pressure for traditional payment processors to get with the times and adopt blockchain, or else they will be left behind by lower-cost competitors. Visa V, +1.36% on Jan. 13 said it plans to acquire Plaid, a back-end software company that helps applications connect to user accounts, for $5.3 billion. Plaid’s client list includes Venmo, Robinhood and cryptocurrency […]