Author: Milan Ignjatovic

Leading Pan-African Payment and Settlement System (PAPSS) has expanded because more banks are willing to join. The significant effort is to reduce expenses with trade in the region. By incorporating 11, more central banks that are African the African Export-Import bank will play significant role in future trading platform for Africa. The main goal of (PAPSS) is transaction in local currency that eliminate the necessity for using other third-party currencies. More the 85% of payments currently pass through European or U.S banking infrastructure and the cost of transaction are more the $5 billion in fees. Africa’s new (PAPSS) system will reduce the costs and help African counties to grove there economy. Central banks of African countries are participants in PAPSS system and they regulate and serve as agents to commercial…

Ripple block chain-tech Company is a new partner who will help the government of Georgia to develop its central bank digital currency (CBDC). New Georgia cryptocurrency (GEL) will help fast and easy cashless payments in the country. In process of selecting Crypto Companies, Ripple was one of technical excellence and experts in field of block-chain technologies says acting Governor of National Bank of Georgia, Natia Turnava. National Bank of Georgia stated that it would prepare the project and its execution plan for the pilot program with Ripple.  Several counties already have selected Ripple as partner in CBDC projects. Few new countries that have signed an agreement with Ripple are Palau and Montenegro to develop a national digital currency strategy. Ripple stated that has discuss 20 new CBDC projects with other…

The preparation phase of digital euro starts in November 2023, and European Central Bank will focus on further development of a digital euro. Digital euro (CBDC) would be an electronic payment available free of charge to everyone. Let’s first talk about money in general. From the beginning of human era there was lots of different money that people have used. First money and first monetary system was established in Rome (753BC – 565AD) Evolution of money:  coins (metal, gold, silver, copper etc.),  paper money,  digital money. The history teaches us many things and some of them are and will be written for our future generation. To understand the differences in our technological advancement we need to understand the history how money is created. As many today use paper money and digital…

European economy stagnates rapidly because of high ECB interest rate. From 2013 to 2023 the interest rate has gone up from 0.75 to 4.75 this month. The interest rate of ECB starts to rise concern over euro zone economy. Borrowing cost of loans have sky rocket and many businesses have felt it paying off loans. The inflation has gone up and many business fail to pay their loan. Aa many economists see the risk of investing there are some who see the opportunity and wait for the perfect moment to make profit. ECB’s decision is to hold rates steady as inflation will slow down but all to the detriment of economic development. We had 10 consecutive hikes of interest rates and the ECB decision was to stop hiking interest rates…

As we know U.S. banks keep losing more then 73 billion dollars every month for the last 12 months. Many prediction may scare consumers and many have bean scared already of future banking crises and the rise of the interest rates. It raises serious question about the banking structure and the crisis that’s gone get worse. What's true behind all this is it intentional or incompetence there is no clear answer to this question. Why U.S. banks hold 3.3 trillion in cash and are we expecting a recession in 2024? There are so many open question and there are not a complete answer to all, but it all started with two regional banks Silicon Valley and Signature bank who failed. The reason those two banks have failed is that they…