Goldilocks' Comments and Global Economic Evening News for September 19th

Good evening Dinar Recaps,

Edit this: Mining legend Frank Giustra commented on the US dollar:
"You got to think about these new mechanisms for settlement on trade, and that's where I think it's going to be chipping away at the value of the dollar.”
100%
Countries globally are starting to trade using their local currencies; this is very important to members of BRICS.
As they develop their central bank digital currencies, they are also accumulating gold.
This is what transformation looks like.

Read: https://x.com/goldtelegraph_/status/1704173357942591877?s=46

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Citi launches token service for institutional clients
The service uses blockchain technology to convert clients’ deposits into digital tokens that can be used for instant cross-border payments 24/7, the bank said.

BankingDive Link

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Based on the decision of the Board of Directors of this bank No. (151) of 2023, approval was obtained to renew the license granted to Yanah Banking and Electronic Services Company based on the provisions of Article (7/Second) of the Electronic Money Payment Services System No. (3) of 2014, provided that its provisions, instructions and controls are adhered to. issued by this bank.

https://cbi.iq/news/view/2418

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🔴 China Dumps U.S. Treasuries To Buy RECORD Amounts Of Gold As The U.S. Dollar Outlook Weakens

https://youtu.be/T5-x4Q7u5H8?feature=shared

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Prepare for #Stellar’s Protocol 20 upgrade! It’s the biggest one yet, introducing Soroban smart contracts.

Things to know:
1. Testnet upgrade on Sep 20, 1500 UTC
2. Update Stellar-related software
3. Stay updated in the (#protocol-20) discord channel
4. Go here for more info… Show more
3:06 PM · Sep 18, 2023

https://stellar.org/blog/developers/protocol-20-upgrade-guide

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According to the official announcement, the testnet will upgrade on September 20 at 15:00 UTC to release newer updates of Stellar Core and Horizon, the infrastructure of the Stellar network. 

Stellar validators will open upgrade votes for six weeks once the testnet upgrade reaches ideal output. The testnet release of the Protocol 20 upgrade will track and trace network performance with the implementation of Soroban smart contracts. 

Soroban is a smart contract infrastructure built on top of Stellar. It advances the Stellar network’s capabilities by enabling an ecosystem of decentralized applications. 

“Because the Protocol 20 upgrade introduces new network settings that validators control, it is also likely that the initial upgrade vote will be followed by a series of additional votes to adjust those settings,” said the blog post.

The Stellar Foundation has increased its development efforts to sustain itself in the highly competitive blockchain space. It recently onboarded British actor Idris Elba to advertise Stellar blockchain network.

Stellar To Support Soroban Smart Contracts With Protocol 20 Upgrade
https://www.cryptotimes.io/stellar-to-support-soroban-smart-contracts-with-protocol-20-upgrade/

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The Global Markets are about to get volatile due to inflated assets and an uncontrollable debt ceiling. This is why capital requirements are being adjusted to test the new Basel 3 banking system.

At the same time, we have tokenized assets onboarding onto the new digital trading system being tested.

These new tokenized assets will be tested and interfaced on the Stellar Network for the next 6 weeks.

The banking system has until the end of November to complete their Basel 3 testing and period for comments on improvements.

The transition into our new digital economy in the banking system and the market system supported by commodities is about to begin.

For more on Protocol 20, see the articles below.

© Goldilocks

https://cryptosaurus.tech/stellar-xlm-is-ready-for-its-biggest-protocol-upgrade-details/

https://www.newsbtc.com/news/stellar/stellar-to-release-protocol-20-testnet-upgrade-will-xlm-rally/

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