#pre-dcep

[philharmaddy-blog]

Check out my first vlog in the lead up to my Cultural Exchange Program! I have been wanting to do a DCP Tag video for so long after binge watching so many of them!

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[cryptoevent]

Banks will be required to work with crypto, e-money and CBDCs to survive

Imagine a scenario where you need different messengers to send different types of messages – for example. B. WhatsApp for text messages, Viber for audio, Telegram for video, etc. Pretty boring, huh? But that is exactly what is happening in the financial world: It is not possible to send both digital money and cryptocurrency from a bank account without additional steps. The masses are not affected yet, but once national digital coins or central bank digital coins are issued, things could get complicated globally in the next few years. We need to find a solution now.

Data centers require a multi-format structure

The traditional financial system can no longer ignore new technologies. The number of cryptocurrency users nearly tripled from 35 million in 2018 to 101 million in the third quarter of 2020, according to the Cambridge Centre for Alternative Finance. Another study by researchers at the UK’s Financial Conduct Authority found a 78% increase since 2019.

Transactions in crypto-currencies are profitable. Only in the fourth. In the first quarter of 2020, PayPal increased the number of transactions by 36%, which amounts to about $277 billion. The growth started in the third quarter. Quarter 2020, when the company introduced encryption contracts. This is one of the best quarterly reports in PayPal’s history.

That’s what it looks like: Will PayPal’s integration of cryptography lead to mass adoption of cryptography? Expert response

But in three to five years, central bank digital currencies will be part of our daily lives. And we need a whole new infrastructure for widespread use. China was the first country to actively promote its digital RMB project, called Digital Currency Electronic Payments (DCEP). In China, it is all about infrastructure, as several local banks have already developed or are in the process of developing their own e-portfolios, the main tool for dealing with the DCEP.

That’s what it looks like: China is accelerating the pace of CBDC infrastructure development and pre-implementation testing.

So far, the Chinese digital yuan is the only example of a digital currency issued by central banks that really works. Remarkably, more than 60 central banks around the world are exploring this possibility. DCEP is based on a centralized blockchain technology that is fully managed by China’s central bank. This technology enables total control of all financial transactions, ensures that social spending is targeted, increases tax collection and prevents financial crime.

The international payment system Visa has recently introduced a protocol for off-line transactions with digital central bank currencies. To pay or receive payments offline, simply download the mobile application. In this case, CSDs essentially replace cash, resulting in a larger number of transactions controlled by the issuer, bank or financial intermediary.

Monetary pluralism will soon become a requirement for financial instruments. Banks need to ensure that fiat, CBDC and crypto transactions can be done in one place: the banking application. But here’s the difficulty: The new formats have nothing in common with their predecessors. Moreover, governments see the use of the EQFN as a task in itself. In other words: It does not follow the same standards as its neighbours.

What keeps you from combining old and new money?

Cryptocurrences and PCDs are relatively new. So there is a lot of uncertainty surrounding these financial instruments. Nevertheless, fiat money and digital money have common functions, and the manner and quality of their implementation will influence the way in which a multi-format financial solution will be achieved.

Implementing a multi-format financial solution requires a unified approach to compliance. If each service performs the anti-money laundering checks on MVTS and monetary cryptography in accordance with its policy, they will not be validated by the receiving bank.

People without a thorough knowledge of cryptography might think that digital assets cannot be integrated into traditional business processes. But that’s not true. From our experience, there is a need for a consistent approach to compliance for both traditional currencies and cryptocurrencies. The public defamation of all owners of digital property is challenged.

Moreover, crypto-finance instruments are much more effective in the fight against money laundering than the traditional system. For example, the Know Your Transaction method can display the entire transaction history for a given encrypted currency – from the time the token is created to the time it is sent to the user’s wallet, including all transactions between them.

Versatility is becoming increasingly difficult

The differences between old and new money described above are just a few examples, but they are important enough not to prejudge the seamless use of different forms of money. Interoperability between the two is therefore particularly important for many banks and high-tech services.

We are entering a new era with many financial intermediaries of all shapes and sizes. They will serve their own niche by combining different types of e-money, CBDC and cryptocurrency with a variety of services. For example, with Visa cards you can already withdraw fiats, crypto-currencies, precious metals and Bitcoin (BTC).

Although businesses and individuals can choose between different types of money/currencies/payment systems, only financial institutions that can handle a wide range of formats and services simultaneously can be called universal banks.

The views, thoughts and opinions expressed herein are solely those of the author and do not necessarily reflect those of Cointelegraph.

Alex Axelrod is the founder and CEO of Aximetria and Pay Reverse. He is also a serial entrepreneur with over a decade of experience in leadership technology roles. Was director of big data at the AFC Systems R&D Center. Previously, Alex worked at Mobile TeleSystems, Russia’s largest telecommunications provider, where he led the development of anti-fraud and cyber security systems.

frequently asked questions

Are banks allowed to hold cryptocurrencies?

Which banks are compatible with cryptocurrency?

11 best crypto friendly banks [update 2020].

Are banks afraid of cryptocurrency?

Banks are not afraid of Bitcoin or other cryptocurrencies. Maximalists think the banks are afraid of Bitcoin. Bitcoins lack of scalability, high cost and transaction fees make it unsuitable for use by banks. 99% of cryptocurrencies cannot be used by banks.

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[joshuajacksonlyblog]

China To Cut Bureaucracy With Blockchain Technology

The Hangzhou Blockchain Research Institute, a subsidiary of the People’s Bank of China (PBoC), has launched a blockchain-based platform, the first of its kind to be launched under China’s central bank.

China Launches Blockchain Registry Open Platform To Cut Through Bureaucracy

The organization, also known as the Zhongchao Blockchain Research Institute, has reportedly presented its Blockchain Registry Open Platform (BROP) at the Global Financial Science and Technology Summit in Hangzhou on Monday.

BROP aims to remove China’s redundant bureaucracy and, according to its white paper, it is an open platform for developing independent intellectual property rights based on the blockchain.

The research institute belongs to Zhongchao Credit Card Industry Development, a subsidiary of China Banknote Printing and Minting Corporation (CBPMC) under China’s central bank.

BROP will leverage its partners to make credible records of user identity, certificate data, and digital credentials for enterprise users. With these identity records, the platform will be able to provide verifiable and supervised ownership registries and information on public services.

Fan Guifu, chairman of Zhongchao Credit Card Industry Development, which is a member of the Linux Foundation, commented the launch of the Blockchain Registry Open Platform.

“We started the layout of blockchain technology in early 2015 and set up the Zhongchao Blockchain Research Institute last year. Our key focus is the development of blockchain and other emerging financial technologies.”

A leader of blockchain development in China, the Hangzhou (Zhongchao) Blockchain Technology Research Institute has applied for 22 blockchain patents.

Out of the top 100 companies with the highest number of patents published for blockchain technology, 49 were Chinese and 23 from the United States, according to the Global Blockchain Enterprise Patent Rankings 2017, published by IPRdaily.

Alibaba leads the ranking, the Digital Currency Research Institute of the People’s Bank of China (PBoC) is third on the list, while Zhongchao Blockchain Technology Research Institute is ranked 18th.

The race for blockchain technology has produced and continues to produce a wide number of patents. This has created a need in the market to ensure an optimal protection of intellectual property, which IPCHAIN Database is attending. The platform has launched its pre-sale just days ago.

China has been one of the most aggressive countries towards cryptocurrencies as it tries to shut down all Bitcoin operations in the country.

At the same time, the country’s government authorities, namely the PBoC, seems to be looking to create their own digital currency, Digital Currency For Electronic Payment (DCEP). The digital currency is expected to go through initial test phases in 2019.

The post China To Cut Bureaucracy With Blockchain Technology appeared first on NewsBTC.

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[michaelbennettcrypto]

China To Cut Bureaucracy With Blockchain Technology

The Hangzhou Blockchain Research Institute, a subsidiary of the People’s Bank of China (PBoC), has launched a blockchain-based platform, the first of its kind to be launched under China’s central bank.

China Launches Blockchain Registry Open Platform To Cut Through Bureaucracy

The organization, also known as the Zhongchao Blockchain Research Institute, has reportedly presented its Blockchain Registry Open Platform (BROP) at the Global Financial Science and Technology Summit in Hangzhou on Monday.

BROP aims to remove China’s redundant bureaucracy and, according to its white paper, it is an open platform for developing independent intellectual property rights based on the blockchain.

The research institute belongs to Zhongchao Credit Card Industry Development, a subsidiary of China Banknote Printing and Minting Corporation (CBPMC) under China’s central bank.

BROP will leverage its partners to make credible records of user identity, certificate data, and digital credentials for enterprise users. With these identity records, the platform will be able to provide verifiable and supervised ownership registries and information on public services.

Fan Guifu, chairman of Zhongchao Credit Card Industry Development, which is a member of the Linux Foundation, commented the launch of the Blockchain Registry Open Platform.

“We started the layout of blockchain technology in early 2015 and set up the Zhongchao Blockchain Research Institute last year. Our key focus is the development of blockchain and other emerging financial technologies.”

A leader of blockchain development in China, the Hangzhou (Zhongchao) Blockchain Technology Research Institute has applied for 22 blockchain patents.

Out of the top 100 companies with the highest number of patents published for blockchain technology, 49 were Chinese and 23 from the United States, according to the Global Blockchain Enterprise Patent Rankings 2017, published by IPRdaily.

Alibaba leads the ranking, the Digital Currency Research Institute of the People’s Bank of China (PBoC) is third on the list, while Zhongchao Blockchain Technology Research Institute is ranked 18th.

The race for blockchain technology has produced and continues to produce a wide number of patents. This has created a need in the market to ensure an optimal protection of intellectual property, which IPCHAIN Database is attending. The platform has launched its pre-sale just days ago.

China has been one of the most aggressive countries towards cryptocurrencies as it tries to shut down all Bitcoin operations in the country.

At the same time, the country’s government authorities, namely the PBoC, seems to be looking to create their own digital currency, Digital Currency For Electronic Payment (DCEP). The digital currency is expected to go through initial test phases in 2019.

The post China To Cut Bureaucracy With Blockchain Technology appeared first on NewsBTC.

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[brettzjacksonblog]

China To Cut Bureaucracy With Blockchain Technology

The Hangzhou Blockchain Research Institute, a subsidiary of the People’s Bank of China (PBoC), has launched a blockchain-based platform, the first of its kind to be launched under China’s central bank.

China Launches Blockchain Registry Open Platform To Cut Through Bureaucracy

The organization, also known as the Zhongchao Blockchain Research Institute, has reportedly presented its Blockchain Registry Open Platform (BROP) at the Global Financial Science and Technology Summit in Hangzhou on Monday.

BROP aims to remove China’s redundant bureaucracy and, according to its white paper, it is an open platform for developing independent intellectual property rights based on the blockchain.

The research institute belongs to Zhongchao Credit Card Industry Development, a subsidiary of China Banknote Printing and Minting Corporation (CBPMC) under China’s central bank.

BROP will leverage its partners to make credible records of user identity, certificate data, and digital credentials for enterprise users. With these identity records, the platform will be able to provide verifiable and supervised ownership registries and information on public services.

Fan Guifu, chairman of Zhongchao Credit Card Industry Development, which is a member of the Linux Foundation, commented the launch of the Blockchain Registry Open Platform.

“We started the layout of blockchain technology in early 2015 and set up the Zhongchao Blockchain Research Institute last year. Our key focus is the development of blockchain and other emerging financial technologies.”

A leader of blockchain development in China, the Hangzhou (Zhongchao) Blockchain Technology Research Institute has applied for 22 blockchain patents.

Out of the top 100 companies with the highest number of patents published for blockchain technology, 49 were Chinese and 23 from the United States, according to the Global Blockchain Enterprise Patent Rankings 2017, published by IPRdaily.

Alibaba leads the ranking, the Digital Currency Research Institute of the People’s Bank of China (PBoC) is third on the list, while Zhongchao Blockchain Technology Research Institute is ranked 18th.

The race for blockchain technology has produced and continues to produce a wide number of patents. This has created a need in the market to ensure an optimal protection of intellectual property, which IPCHAIN Database is attending. The platform has launched its pre-sale just days ago.

China has been one of the most aggressive countries towards cryptocurrencies as it tries to shut down all Bitcoin operations in the country.

At the same time, the country’s government authorities, namely the PBoC, seems to be looking to create their own digital currency, Digital Currency For Electronic Payment (DCEP). The digital currency is expected to go through initial test phases in 2019.

The post China To Cut Bureaucracy With Blockchain Technology appeared first on NewsBTC.

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[philharmaddy-blog]

Disney Tag

So I think in the coming weeks I’ll be alternating posts between fun/hype and informational, so I thought I’d start off with a Disney Tag! Thanks to Steph for letting me steal her Disney Tag format, you can find her blog on her upcoming DCEP here.

So without further ado, let’s get into it... Grab your snacks, because this will be a long one!

Disney Movie: This is a hard one, but I think I have to go with The Little Mermaid just because of the number of times I watched that movie as a kid on VCR purely because my parents wouldn’t let me watch the behind the scenes footage that played after the movie unless I watched the whole thing through! FUN FACT: I was terrified of all animated movies as a kid, because I thought they were all as scary as A Bug’s Life, the crazy creations of Sid in Toy Story and the two terrifying scenes from Fantasia (Rite of Spring dinosaurs and Night on Bald Mountain)

DCOM Movie: Does The Lizzie McGuire Movie count?

Pixar Movie: The Incredibles. I love that soundtrack so much!

Disney Sequel: Either Lion King 3/1.5 or The Rescuers Down Under. Although I’m sure with Wreck It Ralph 2 coming out soon, my answer will probably change!

Disney Song: Belle. The writing is brilliant, the backing orchestral score is beautiful, and it sets the scene of the small provincial town so perfectly as the opening number of Beauty and the Beast.

Disney Love Song: It’s not a duet (well, it kind of is if you count the Muses), but I Won’t Say I’m In Love from Hercules is one of my favourites. 

Disney Villain Song: This one is easy. Poor Unfortunate Souls is such a classic.

Disney Song that gets stuck in my head: My brain will switch between Someday My Prince Will Come and A Dream Is A Wish Your Heart Makes. But nothing is as much of an ear worm as It’s A Small World...

Disney Soundtrack: If we are including Pixar, it would be The Incredibles, because I love Gordon Goodwin’s Big Phat Band. If it’s strictly Disney Animation, then I would go with Sleeping Beauty since they used Tchaikovsky’s ballet score. Or maybe Princess and the Frog for that sweet Dixieland jazz? I don’t know, it’s too hard to decide! Never ask a musician what their favourite music is...

Disney Quote: “I give myself very good advice, but I seldom follow it” (Alice in Wonderland)

Disney Ride: I think I have to go with Expedition Everest after my younger brother and I tricked my dad into riding it (we didn’t tell him about the bit that goes backwards!). Plus I love that documentary about its construction, even if we now only have the Disco Yeti.... 

Disney Show: Wishes will always be my favourite. 

Disney Parade: Festival of Fantasy, although I don’t know if it’s as good now that the dragon has gone down in flames.... literally...

Disney Food: The beignets at Port Orleans French Quarter

WDW/DL? I have to go with WDW since it’s the only one I’ve visited

WDW Park: Has to be Magic Kingdom since it’s the one that I spent the most time in, but I also adore Animal Kingdom

Disney Photo:  It has to be my amazing candid shot with Gaston. 

Time for some characters!

Princess: Anna, she’s such a goofball!

Disney Princess Dress: I love the classic Cinderella dress. Although Merida’s looks super comfy!

Prince: Either Flynn Rider or Prince Naveen, I love those suave, charming personalities

Couple: Meg and Hercules

Side-Kick: Mushu

Villain: I love all the villains so it’s hard to choose, but I narrowed it down to Ursula and Hades. All the sass!

Animal: Maximus (the horse from Tangled)

Pixar Character: There are so many good ones to choose from! But I think Dory takes the cake

Disney character I most identify with: Probably Ariel or Anna because I am overly enthusiastic about the most mundane things

Pixar character I most identify with: The seagulls in Finding Nemo any time there is food around

Disney movie I would star in if I could: Probably Hercules because I would love to be a Muse.... but really, we could all do with having a new Disney film where the princess is an alto...

Disney movie that makes me laugh: Again, Hercules. Despite how badly inaccurate the movie is to Greek mythology (even the name itself is wrong), I still think it’s one of the funniest of the animated movies. Either that or Aladdin, because Robin Williams is a gem.

Disney movie that makes me cry: Not technically Disney since it’s Pixar, but Up. Every time. Storytime: my state orchestra were doing ‘Pixar In Concert’, where they played medleys of the soundtracks with clips of the movie up on a massive screen. But not for Up, no.... They played the entire first 15 or so minutes of the movie with the soundtrack live. I think everyone in that entire theatre was sobbing by the end of it.

Disney item I collect: I don’t have any at the moment but I’m hoping to start pin trading and collecting signatures once I get there! I’m more of an experience over material kind of girl.

Most treasured Disney item: A card that says “If you can dream it, you can do it”, signed by all the teachers of the music department from my high school that I was given at the end of my final year when I was music captain.

First Disney movie I ever saw: Fantasia. I had a Sorcerer Mickey plush in my room, but I was asleep for the majority of the movie. Except for the two sections I mentioned earlier that scared me off watching more animated movies for years...

What I would like to see in a Disney movie: Please make the princess an alto and non-belter! Please!!! For the sake of all of us girls with low voices who can’t belt out Let it Go or warble along to Sleeping Beauty or Snow White!

What I would like to see at a Disney park: Still waiting for that fifth gate based around Disney Villains filled with thrill rides! Or maybe shooting a bit lower in expectations, a revamped version of the old and forgotten Fire Mountain idea for Adventureland in the form of a roller coaster themed around the volcano from Moana?

Park character I was/am looking forward to meeting: I’ve met Gaston which was pretty great. But otherwise I really want to meet some of the other princes! In particular, Flynn Rider and Naveen. Also can’t wait to meet Chewie in Hollywood Studios!

Best Disney Story: So to set the scene, it’s just as the park is about to open after Extra Magic Hours, I had been hanging out in New Fantasyland solo while my dad was sleeping in. I go to try and find where the meet and greet for Cinderella’s step family are, only to be given the hint by a Character Attendant to get in line for the carousel. I end up on a horse in between Anastasia and Drizella, with Lady Tremaine a few horses away! But that’s not the end of the story… After getting off the ride, I end up walking with Lady Tremaine to her character spot, idly chatting about how awful Cinderella’s hospitality was at the Royal Table last night, how the matriarchy will rise again, etc. Finally get to the character spot and see a massive line has already formed. So I get ready to say farewell to the characters. But no! I get told by Lady Tremaine that I’m a “VIP” and as a lady of such high class deserve only the best. And so I skip the entire queue and get an amazing photo right away!

And that’s all, folks! 

If you’ve made it this far, congratulations! My next pre-DCEP hype post will probably be a full bucket list - so probably even longer than this one!

[philharmaddy-blog]

Applying for the DCEP (Aus/NZ)

So for those of you considering applying for the Cultural Exchange Program in the future, here is a quick run down on my application process. I am not sure how similar it is to other Cultural Exchange programs or the American College Program, so take all this with a grain of salt.

Where to apply?

For starting in January, I’m not entirely sure when applications open, since I applied very late (about two weeks before I had an interview) but I believe they opened up in March.

You can find all the information about the various programs and also check to see if applications are open here: https://jobs.disneycareers.com/international-programs 

What are the requirements?

To apply for the Aus/NZ Cultural Exchange Program, you need to be:

Over 18 years old

An Australian or New Zealand citizen

Have completed secondary education (high school) and currently studying full time at a recognised tertiary institution OR commence the program within 12 months of graduating from a Bachelor’s degree

If the majority of the courses for your degree are online, then you cannot be considered for the program

Have completed at least one year of tertiary education before commencing

You cannot defer the semester prior to starting the program

Be receptive to all Disney Look guidelines

Be available to work all days, including weekends, public holidays, etc.

What is the application process like?

Unfortunately, I didn’t have the hindsight to consider making notes on the application process as I was doing it, so this is all based on my recollection since I can’t access my completed application now that I have accepted my offer.

In addition to the basic personal details that they will require and checking off the boxes to say that you do meet all the prerequisites for applying, you will be asked to submit both a cover letter and resume. I will probably cover both these aspects in more detail in my next post. Despite having already submitted a resume, you will still be required to fill out an electronic form detailing your previous work experience. This includes your job title, who you worked for, when you had that job, and most importantly, listing your responsibilities/duties as well as skills that you developed/used while on the job.

So I’ve submitted my application, what now?

On the Disney Careers dashboard (where you will have submitted your application) you should now see the timeline with five stages.

Application Received: Disney has received your application. Let the waiting begin...

Application Under Review: Now you know that not only they have received your application, but someone is now looking through it! I received this notification about a day after I applied. And now for some more waiting...

In Consideration: Good news! If you made it to this stage, that means that you are going to get sent an email to attend an in-person interview! Unlike other program applications (both international and the college program), us in Australia and New Zealand applicants do not have a phone interview. Given how late I applied, I got the notification for this step about 2-3 days after first applying.

Interview: This stage pops up as being checked off in the timeline after you have booked in for an interview and stays this way until you either get an offer or receive the sad news that you are NLIC (no longer in consideration).

Offer: Congratulations! If you’ve got this far, it’s now onto the mountain of paperwork and visa applications, and program fees.... but it means you’re going to Disney World!!!