IMF envisions ‘new class’ of cross-border payment platform with single ledger

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News of the Day

IMF envisions ‘new class’ of cross-border payment platform with single ledger

Why it matters:

• The Single Ledger platform is built on blockchain technology, which allows for secure and transparent transactions. The platform will be used to facilitate cross-border payments between banks, businesses, and individuals. The IMF believes that the Single Ledger platform will be able to reduce the time and cost of cross-border payments significantly.?
• The Single Ledger platform is an exciting development in the world of cross-border payments. Traditional cross-border payments can be slow, expensive, and prone to errors. The Single Ledger platform has the potential to change all of that by providing a faster, cheaper, and more secure way of conducting international transactions.
• However, there are still some challenges that need to be addressed before the Single Ledger platform can be widely adopted. One of the most significant challenges is regulatory compliance. The IMF acknowledges that there are many regulatory hurdles that need to be overcome before the Single Ledger platform can be used on a large scale.

Crypto Daily Spotlight

Ordinals Brought Inscriptions to Bitcoin—Now Ethscriptions Land on Ethereum

Brief introduction: Ethscriptions is an innovative project that has the potential to revolutionize the way subscriptions are managed. The platform allows users to create and manage subscriptions without the need for intermediaries such as banks or payment processors.?

Why it matters:

• One of the key features of Ethscriptions is its use of Ethereum ordinals. Ethereum ordinals are unique identifiers that are used to represent digital assets on the Ethereum blockchain. These ordinals provide a secure and transparent way of managing subscriptions, as they can be easily tracked and verified on the blockchain.
• Another important feature of Ethscriptions is its integration with Bitcoin inscriptions. Bitcoin inscriptions are digital signatures that are used to verify transactions on the Bitcoin blockchain. By integrating with Bitcoin inscriptions, Ethscriptions is able to provide a more secure and transparent way of managing subscriptions.
• Overall, Ethscriptions is an exciting project that has the potential to revolutionize the way subscriptions are managed. The platform provides a more secure and transparent way of managing subscriptions, and its use of Ethereum ordinals and Bitcoin inscriptions makes it a highly innovative project. However, like any new technology, there are still some challenges that need to be addressed before Ethscriptions can be widely adopted. Nonetheless, the project represents an exciting development in the world of blockchain technology and digital assets.

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