"QFS-CONVERSATIONS WITH GOLDILOCKS, 13 MARCH

GOLDILOCKS

 "The Hong Kong Monetary Authority launched a plan to trial stablecoins, announced in December, for companies with a ‘genuine interest’ in fiat-backed crypto."

Trial periods can last anywhere from 30 to 60 days. This marks an important event for the world to see if Stablecoins backed by gold and other commodities have the potential to move our economy into a gold standard based on digital assets and new banking protocols designed for a digital economy guided by artificial intelligence.

If this is successful, we will begin to see many Stablecoins enter into the Global Market. It will begin to create price pressures on our paper currency. 

We will first see a stabilization of currency prices reverse current trends, and move or monetary system into real values. It is a strong headwind ahead of us, but the work put into this new digital global economy is about to be tested inside the real world. Reversals don't happen overnight. Patience and endurance are definitely needed at this time.

India's Unified Ledger is expected to be a part of this trial along with the Shanghai Exchange. The Chinese Rememidi will serve as a part of this testing. 

The HKMA will use this sandbox testing to share ideas on supervisory expectations. It will serve as guidance on the issuance of fiat-referenced Stablecoins in Hong Kong. 

As you can see, the Eastern half of our world is beginning to make its move into the new QFS. By the time this testing is complete, Global cryptocurrency regulations are expected to be finished by Europe through MICA.

We are in the calm before the storm.

© Goldilocks 

https://www.scmp.com/tech/policy/article/3255129/stablecoin-sandbox-launches-hong-kong-companies-make-plans-cryptocurrencies-pegged-local-currency

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