The nation of Qatar is a World Bank “high-income economy,” backed by the world's third-largest natural gas and oil reserves. It has the third-highest GDP per capita in the world (by purchasing power parity), with very high human development. Similar to other Gulf Cooperation Council states — which also include the United Arab Emirates, Saudi Arabia, Oman, Kuwait and Bahrain — Qatar has had to deal with the decline in global oil and gas prices after they first collapsed in 2014, and the situation has been made even more difficult by a Saudi-led embargo of the nation that started in …
The fintech industry has been changing rapidly. Digital assets, distributed ledger technology and central bank digital currencies are gaining momentum. Multi-trillion-dollar United States Federal Reserve System money creation has increased demand for digital assets, particularly Bitcoin (BTC). Banks, brokers, commercial lenders, investment advisors, private investment funds, family offices, mutual funds, fintech entrepreneurs, lawmakers and private citizens should take note of several developments in this space. Old wine, new bottles The use of ledgers to track events and transactions is of ancient origin. DLT and blockchain technology combine venerable record-keeping techniques with new technologies — like storing old wine in new …
The supreme audit institution of the United States, the Government Accountability Office (GAO), posted two job positions with its Innovation Lab concerning the development of prototype applications for blockchain technology during March. Cointelegraph spoke to Chuck Young, the managing director of public affairs at GAO, to find out more about the agency’s interest in distributed ledger technologies, or DLT. GAO to refine auditing processes for blockchain Young stated that GAO's primary application for blockchain will be as “a digital financial ledger” — indicating that the chief auditor is planning to use blockchain to move value. GAO has also identified “supply …
How seriously are American corporations committed to blockchain technologies? Are blockchain technologies materially significant yet? One place to find the answers to these questions is Form 10-K, a report the United States Securities and Exchange Commission (SEC) requires corporations to file annually. Some of the information a company is required to disclose in the 10-K includes details on the nature of its business, risk factors, financial data, organizational structure, subsidiaries, and management’s discussion and analysis about the financial and operational results. Because it is regulated by the SEC, audited by an independent auditor and scrutinized by market participants — such …
After struggling to receive recognition of legitimacy within the mainstream zeitgeist during its sophomoric years, distributed ledger technology (DLT) now comprises the driving force behind a new wave of technological creative destruction. Today, we are going to take a look at some of the industries and processes that are most dramatically undergoing a transformation in response to the advent of blockchain technology. Food The opaque nature of global supply chains poses a significant challenge to efforts to ensure that the commodities, labor and inputs required to produce goods are from a safe and ethical origin. In order to tackle these …