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Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: SRShanuka2020 on June 07, 2020, 08:29:25 PM

Title: Fed Chair Teases Use of Ethereum-Based Interest Reference Rates
Post by: SRShanuka2020 on June 07, 2020, 08:29:25 PM
Fed Chair Teases Use of Ethereum-Based Interest Reference Rates


(https://i.imgur.com/NdM5A4p.png)


In a May 28 letter to Senator Tom Cotton (R-AR), Jerome Powell, Chairman of the U.S. Federal Reserve, described an interest reference rate based on the Ethereum blockchain, called Ameribor, as effective for some, but not all.

Ameribor is a tool from American Financial Exchange (AFX) that uses the Ethereum blockchain to track interbank lending by minting ERC-721 tokens for each repayment.

Visit For More info: Here (https://cointelegraph.com/news/fed-chair-teases-use-of-ethereum-based-interest-reference-rates)
Title: Re: Fed Chair Teases Use of Ethereum-Based Interest Reference Rates
Post by: damsix on June 10, 2020, 08:15:35 AM
Ameribor will someday be needed by many people because this is definitely the best choice in terms of P2P with Fiat being backed up by The FED.
I think this temptation will continue to haunt the EThereum that is done by The FED because we all know that all countries in the world have debts to the IMF which are backed by The FED's finances.
Title: Re: Fed Chair Teases Use of Ethereum-Based Interest Reference Rates
Post by: TomPluz on June 21, 2020, 09:35:05 AM
Quote from: damsix on June 10, 2020, 08:15:35 AM
Ameribor will someday be needed by many people because this is definitely the best choice in terms of P2P with Fiat being backed up by The FED. I think this temptation will continue to haunt the EThereum that is done by The FED because we all know that all countries in the world have debts to the IMF which are backed by The FED's finances.

I am excited for this development and many in the Ethereum network can be seeing the silver lining with this story. Ameribor can be an amazing tool which a good number of people will love. I am looking forward to hear more on this platform.
Title: Re: Fed Chair Teases Use of Ethereum-Based Interest Reference Rates
Post by: IyemRoker on June 22, 2020, 03:29:50 AM
Quote from: damsix on June 10, 2020, 08:15:35 AM
Ameribor will someday be needed by many people because this is definitely the best choice in terms of P2P with Fiat being backed up by The FED.
I think this temptation will continue to haunt the EThereum that is done by The FED because we all know that all countries in the world have debts to the IMF which are backed by The FED's finances.
But Ameribor will always get threats from various parties who are not happy about it because this is the scope of business in cryptocurrency and this must be prepared from the very beginning created by Ameribor.
And then The FED is a financial institution that the whole world has recognized with and Ameribor likens a newborn child to a financial institution. Cmiiw