IMF envisions ‘new class’ of crossborder payment platform with single ledger
TheInternationalMonetaryFundhaspresentedthe outlines of a “new class” of cross-border payment system that uses a single ledger to record central bank digital currency (CBDC) transactions, programmability and improved information management.
In addition, the platform would help central banks intervene in foreign exchange markets, aggregate information on capital flows and resolve disputes, Adrian said. The platform could be adapted for domesticwholesaleand retailCBDCsaswell.
The XC platform was designed on the model of CBDCinfrastructure.
There would be a settlement layer with a single ledger, and access to it would be expanded. Currently, institutions have to have a reserve account with a central bank to carry out crossborder operations, but the XC platformwouldallow the trading of tokenized domestic central bank reserves.Liquiditywouldstillcomefrominstitutions withreserveaccounts.
Here are the U.S. cities where rent is rising the fastest
Since the pandemic, rental costs around the country have surged a total of 26%. Now for the good: Rents are finally slowing in earnest, a new analysisshows.
Rent for single-family homes rose an average of 3.7% in April from a year ago, the twelfth straight month of declines, according to real estate researchfirmCoreLogic.
Thefollowingmetroareasroundoutthetopcities with the fastest rental increases in April from a yearago,alongwiththetypicalmonthlyrent fora 3-bedroomplace:
Boston,Mass.—6.2%,$3,088
Orlando-Kissimmee-Sanford,Fla.—6%, $2,209
Chicago-Naperville-ArlingtonHeights, Ill.—5.9%, $2.319
NewYork/JerseyCity/WhitePlains, N.Y./N.J.—5.7%, $3,068
St. Louis,Mo.—4.8%,$1,501
Minneapolis-St. Paul-Bloomington, Minn./Wis.—4.6%,$2,097
Tuscon, Ariz.—4%,4%,$2,036
Souce: https://cointelegraph.com/news/imf-new-class-cross-border-payment-platformsingle-ledger
https://www.cbsnews.com/news/us-cities-where-rent-is-rising-the-fastest/
U.S. regulators approve sale of cellcultured chicken by two startups
The U.S. Department of Agriculture has approved the sale of cell-cultured chicken in a landmark decision that clears the path for consumers to try it out themselves, the two startups that received the firstapprovalssaidWednesday.
Cultured meat, also known as cultivated, cell-based or lab-grown protein, is made by putting stem cells from the fat or muscle of an animal into a culture mediumthatfeedsthecells,allowingthemtogrow. Themediumisthenputintoabioreactortosupport thecells’growth,creatinganendproductthatlooks andtastesliketraditionalmeat.
Proponents of cultured meat say it’s healthier and more environmentally friendly than traditional meat. Outside the U.S., only Singapore has cleared thesaleofcell-cultured meat.
The USDA issued approval to Good Meat, a subsidiary of Eat Just, along with Upside Foods. Bothcompanieshadalreadyreceivedthego-ahead months earlier from the U.S. Food and Drug Administration, which said each company’s labgrownchicken issafeforhumanconsumption.
High car insurance prices are worrying Americans
Sixty-three percent of Americans said they were most concerned with their ability to pay for their car insurance, according to researcher doxoINSIGHTS, based on data from bill payment platform doxo of more than 8 million paying consumers across 97% of U.S. ZIP codes. That was tied with Internet and cable and second only to utilities, which 73% of consumers were most worriedabout beingabletopay,itsaid.
Auto insurance is much more expensive in some statesthanothers,butthatdoesn’tmeanyoucan snooze if you live in a lower-cost state. Some lower-cost car insurance states are expected to seesharpincreasesincomingyearsthatwillboost ratestoamongthehighestinthenation.
The Sunshine State "is so expensive as Florida has thehighest proportionofuninsureddrivers”.“20% of drivers lack even minimum liability insurance, pushingcostsontoinsureddriversthroughhigher premiums.”
Louisianaalso hasalargeproportionofuninsured drivers at slightly more than 10%, pushing up premiums.
Souce:
https://www.cnbc.com/2023/06/21/us-approves-sale-of-cell-cultured-chicken-totwo-start-ups.html
The US’s first commercial offshore wind farm just got its first foundation
South Fork Wind will next install the first US-built offshore substation. Hundreds of US workers and three NortheastportswillsupportSouthForkWind’sconstructionthroughlatefall.Theproject,whichisexpected tocompleteontime, willpoweraround70,000 NewYorkhomeswhenitcomesonlineattheendof2023.
The 132-megawatt (MW), 12-turbine project, which is being built by Danish wind giant Ørsted and New England energy company Eversource (a 50/50 partnership), is the first commercial offshore wind farm in theUS.
It’slocatedabout35mileseastofMontaukPoint,anditwilldelivercleanenergydirectlytotheelectricgrid in East Hampton via a single transmission line installed in March. The energy produced will be sold to the LongIslandPowerAuthorityunderthetermsof a20-yearagreement.
South Fork is one of five offshore wind projects New York State has in active development – the largest portfolio in the US. This current portfolio totals more than 4,300 MW and will power more than 2.4 million NewYorkhomes.It’sexpectedto bringacombinedeconomic impactof$12.1billiontothestate.
Installation of the first foundation at the US’s first commercial offshore wind farm is a milestone in the country’sgoalto deploy 30 GWofoffshorewindenergyby 2030.
Souce:
https://electrek.co/2023/06/22/south-fork-wind-new-york/