Seeds of Wisdom RV and Economic Updates Monday Evening 9-23-24
Good Evening Dinar Recaps,
TURKEY TENDS TO VIEW BRICS AS A POLITICAL TRUMP CARD AGAINST THE WEST — EXPERT
Turkish economist Bartu Soral noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s"
ANKARA, September 23. /TASS/. Turkey's interest in BRICS has economic considerations, but purely political motives are also strong, Bartu Soral, one of the country’s leading economists, said in an interview with TASS.
"The decline of the West's dominance in the international system brings BRICS to a leading position in production and export. In this context, Turkey values its relations with the Turkic countries and with Russia, which is active in the region. There are many points of contact here.
Nevertheless, I think that the interest in BRICS declared by the Turkish government is an attempt to gain a trump card against the West and has political motives," he believes.
The expert noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s. The G7 countries used to dominate, while today, for example, the EU and Japan have lost power."
"On the contrary, the BRICS countries are leaders in global exports and production. China has acquired significant production and technological power, including thanks to its excellent education system. Russia is strong in the defense industry. Brazil ranks second in the world in food exports. The Anglo-Saxons, who dominated in the 1990s, are losing ground," Soral noted.
Touching upon Turkey's political motives, the economist noted that BRICS is an economic association that needs to be approached in this spirit.
"We need a national program, a roadmap for interaction with BRICS, a production program in various industries in the context of the BRICS economy. Personally, I do not see such plans from the government and I think that Turkey's application does not have a serious economic basis," the economist believes.
Earlier, Turkish Foreign Minister Hakan Fidan said that Ankara was assessing its participation in BRICS from the point of view of economic cooperation opportunities, but said that "the association itself is currently searching for an identity, options for institutionalization" and therefore it is difficult to say to what point the republic's interaction with BRICS may reach.
Nevertheless, Fidan noted that "if Turkey's integration with the EU had ended with full membership in the union, then perhaps Turkey would not be looking for other options on many issues.".
@ Newshounds News™
Source: TASS
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QATAR LAUNCHES DIGITAL ASSETS LAB
Last week the Qatar Financial Centre (QFC) unveiled the first participants in its Digital Assets Lab, “powered” by the Qatar Central Bank. The QFC avoided using the term sandbox, although the Lab’s aims sound similar, but broader.
The goal is to encourage innovation and development in the distributed ledger technology (DLT) space. Plus, it provides regulatory support and is one of the pathways for landing a license to operate in Qatar.
It follows the recent launch of Qatar’s Digital Asset Regulations at the start of the month.
The creation of the Lab involved partnering with Google Cloud, local bank Masraf Al Rayan, The Hashgraph Association (THA) and enterprise blockchan firm R3.
“As the base product for the QFC ecosystem, R3’s Corda will power tokenization projects across Qatar’s financial industry, supporting the issuance, transfer, and redemption of digital assets,” said R3’s CEO David E Rutter.
However, some applications are likely to be deploy on the public Hedera DLT. In May the affiliated Hashgraph Association (THA) announced a $50 million Digital Assets Venture Studio in Qatar which is part of the Lab.
THA is planning to work in five areas:
▪️Equity Tokenization
▪️Sukuk (Islamic Bonds) Tokenization
▪️Real Estate Tokeniszation
▪️Sustainability/ESG – Carbon Credits
▪️Consumer engagement and loyalty programs
The Middle East is becoming a hotbed for tokenization, with multiple regulatory enclaves within the UAE alone, never mind Saudi, Qatar and elsewhere. Qatar’s banking sector is already internationally diversified, with around 30% of deposits from foreigners.
The Qatar Central Bank, which is involved in the Digital Assets Lab, completed its central bank digital currency infrastructure in June.
Digital Assets Lab participants
The Digital Assets Lab isn’t purely for new startups. We’ve regularly covered several of the participants, including Partior, Polygon, Settlemint, Taurus and Citi-backed xalts.
The full list of initial participants are: AISCIA, ALT DRX, arca-x, AssetShare, Audtye, Blade Labs, BlockStead, DMZ, evergon, Finrock, Falcon Nest Labs, itoo technologies, mintus, oori, Partior, Polygon, PropTech, ScieNFT, SettleMint, SidraChain, Skargard, Taurus, xalts, and Verity.
@ Newshounds News™
Source: Ledger Insights
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Telegram may hand over user data of rule violators to authorities
The Telegram team has removed all problematic content from there in recent weeks, Pavel Durov said, without giving any details
MOSCOW, September 23. /TASS/. Telegram co-founder Pavel Durov said that the messenger can disclose user IP addresses and phone numbers in response to legitimate requests from the relevant authorities. He clarified that this measure concerns violators of Telegram rules and is being introduced to deter criminals from abusing the messenger's internal search function.
"We have clarified that the IP addresses and phone numbers of those who violate our rules can be disclosed to the relevant authorities in response to justified legal requests," Durov said, specifying that Telegram has updated its terms of service and privacy policy, bringing them to uniformity worldwide.
As Durov explained, some users were abusing Telegram’s search function to sell illegal goods. The Telegram team has removed all problematic content from there in recent weeks, he said, without giving any details.
"Over the past few weeks, a special team of moderators has used artificial intelligence to make the Telegram search much safer. All problematic content that we identified in search is no longer available," Durov said. He also called on users to report illegal content.
@ Newshounds News™
Source: TASS
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Source: Seeds of Wisdom Team Currency Facts
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