![]() ![]() As I did so, it became clear that he was driven by serendipity and opportunistic search (in the positive sense of the word) rather than some methodical strategic planning process that outlined goals upfront and thought about the optimal way to reach them.īefore joining GSA, Arrieta spent three years with the Treasury Department as its small business executive. I started my search by talking with Arrieta about the path that led him to pursue a blockchain implementation at GSA. It has been quite an education for me to talk with Arrieta and his vendors, Sapient and United Solutions, about what they’ve been up to, and to read some of the new literature on blockchain. Another design feature of blockchain is that entries to the ledger are immutable - somebody can update an entry on the ledger, but the update only adds to the original entry, it can’t replace it (so people can’t hide their tracks and erase the past). Both FCW and GCN have reported on the technology with some frequency, and the IBM Center for the Business of Government has posted two blogs on blockchain in government.Īt its simplest, blockchain is a ledger - a record of transactions and other relevant data about companies or individuals - that is distributed its content is shared in real time with anyone with access to the blockchain. Recently, though, blockchain has been getting a lot of mainstream attention for possible applications well outside of bitcoin, including several articles over the last few years in the Economist. (A Google search of “bitcoin” and “dark web” generates 2.7 million hits.) I suspect that most people in government who have heard of blockchain still associate it mainly with bitcoin. Bitcoin has a bit of a checkered past, and even something of a checkered present, as a play-space for libertarian activists who didn’t like the government’s control of money, and as a possible vehicle for criminal or terrorist financing. Might I want to write about it, he asked?īlockchain was initially developed as a platform to allow trading of the cryptocurrency bitcoin in a trustworthy, transparent environment. He told me his organization had awarded in late June the federal government’s first contract to use blockchain technology, involving moving FASt Lane, a service that Schedule 70 designed to speed how fast new vendors can get on schedule, onto the blockchain. ![]() The board, which is the main governing body of the Federal Reserve, consists of seven members who serve a term of four years.The other week I got an email from Jose Arrieta, the new director, arrived less than a year ago, of the General Services Administration’s Schedule 70 (IT products and services) operations. If leadership at the Fed had shifted, there would have been a period of learning, delaying current workstreams, and potentially leading to a shift in views towards digital assets,” Baldwin said. ![]() “Fed Chair (Jerome) Powell and Governor (Lael) Brainard have been very involved in digital assets to date and have articulated that stablecoins and CBDCs can coexist. central bank’s governing panel may not have much sway in determining the course of crypto regulations, said Robert Baldwin, director of policy at the Association for Digital Market Assets. ![]() Plus, the Fed’s leadership isn’t changing, and the additions to the U.S. None of the three candidates – Sarah Bloom Raskin, Lisa Cook or Philipp Jefferson – has expressed strong opinions about cryptocurrencies, based on a search of web articles. Senate Banking Committee hearing of President Joe Biden’s three nominees to the Federal Reserve Board might carry limited significance for the future of crypto. Nominees for the Federal Reserve board bring a blank slate on crypto views The Wormhole team has assured the community that its ETH supply would be replenished to “ensure wETH is backed 1:1,” but there is no word yet on where those funds will come from or when.Īlso Read| Bharat Dynamics shares hit 52-week high on inking agreement with Indian Army The hack took place on the Solana side of the bridge and there are fears Wormhole’s bridge to Terra could be similarly vulnerable. The Wormhole team has offered a $10M bug bounty for the return of the funds. This is the largest crypto hack of 2022 so far and the second largest DeFi hack to date. Wormhole is a token bridge that allows users to send and receive crypto between Ethereum, Solana, BSC, Polygon, Avalanche, Oasis, and Terra without the use of a centralized exchange (CEX). The Wormhole token bridge experienced a security exploit, resulting in the loss of 120,000 wETH tokens ($321 million) from the platform. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |