Hyperspace prepares for a fork

Hyperspace Cloud Storage service is going to fork Sia code base on July 1 to introduce the Hyperspace Network to the public
20 June 2018   5110

The Hyperspace team is forking the Sia code base on July 1 and is going to distribute ~3.5B Space Cash to all Sia holders with a rate of 10 Siacoin to 1 Space Cash. The forking block is set at 161358 of Sia blockchain. Afterwards, the network itself is set to be launched around the first week of July with the release of Obelisk SC1.

Hyperspace Network

The Hyperspace network is a global storage marketplace powered by the Space Cash cryptocurrency. Hyperspace uses revolutionary blockchain technology to achieve 3 goals: a low cost of storage, fast transfer speeds, and private storage. The details are available here. At the moment of publication, Hyperspace marker value is as follows:

Average price 0.007771 USD
Market cap 181,184 USD
Volume (24H) 74 USD

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.