Finland works with Esentia.One: Blockchain for Logistics

The Finnish government has declared second collaboration with decentralized interoperability protocol Esentia.One to build blockchain solutions for logistics
29 June 2018   843

This is the second pilot program that the two organizations have cooperated - the first one, which started in April of 2018, was made to track production chains and reduce unemployment rates. 

The success of our first e-government blockchain project with MTK meant we built a level of mutual trust. As passionate believers in the underlying value in blockchain, we knew that we could adapt the technology to solve many more issues in different governmental departments.
Matteo Gianpietro Zago
Co-Founder, Esentia.One

Essentia.One on Twitter
Essentia.One on Twitter

This spep also represents the latest in a series of initiatives by the Finnish government to position the state as one of the world’s leading logistics hubs. The pilot will finally be introduced to several Finnish government organizations that are connected with the logistics industry: the Finnish Ministry of Transport and Communications, the Finnish Transport Safety Agency (Trafi), the Finnish Transport Agency, the Finnish Communications Regulatory Authority, the Finnish Customs, and other member organizations of Finland’s Corridor as a Service (CaaS) ecosystem.

Our purpose has always been financial inclusion, and especially to help people in developing countries.
Antti Pennanen,

The Finnish government has researched several other blockchain initiatives. It declared about a partnership with local startup MONI to provide fugitives with blockchain-based debit cards that would also record identity information in September of 2017.

US Federal Reserve to Consider Digital USD Issue

If a some country or company issues digital money that is widely recognized, this could lead to the loss its status by the USD, fed official believes
17 October 2019   66

The US Federal Reserve is actively considering the possibility of issuing digital currency, fearing the dollar will lose its leading position in the global financial system. This was stated by President of the Federal Reserve Bank of Dallas Rob Kaplan, reports CoinDesk.

In his opinion, if a foreign government or company issues digital money that is widely recognized, this could lead to the loss of the status of the world's reserve currency by the dollar.

On the eve of the previous chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo also expressed concern that the re-issuance by other countries of national currencies in digital form could lead to the dollar losing its dominant role in the world. He called for the release of a digital dollar on the blockchain.

Bank of England Governor Mark Carney said earlier that a digital currency like Facebook’s Libra can replace the dollar as a global reserve currency.

The emergence of an attractive and viable alternative to the dollar will reduce demand for US government securities, Kaplan said. This will lead to an increase in interest rates by 100 basis points (1%), which will increase the cost of servicing public debt by $ 200 billion per year.

I still think for the foreseeable future, the dollar will be the world reserve currency, we’re able to refinance our debt at relatively low rates, but I don’t think we should take that for granted.

Rob Kaplan

President, Federal Reserve Bank of Dallas

Kaplan noted that countries subjected to sanctions or increased trade tariffs by the United States are working most actively on the digital alternative to the dollar.