Standard Bank Puns

Cross-border transactions can take days to settle.

To expedite this process and its efficiency, Shinhan Bank, the leading bank in South Korea, and Standard Bank, the largest bank in Africa, have united in a proof-of-concept on Hedera. In so doing, the trial looked to reduce the reliance on middlemen, associated costs, and settlement time in the currently $702 billion remittance market.

In this talk, the two Hedera Governing Council members will showcase:

• Challenges with legacy cross-border payment systems (SWIFT)
• Proposed stablecoin solution on Hedera
• A live demonstration of the settlement process

This presentation will premier on YouTube on December 8th at 9pm PST / December 9th at 7am SAST / 2pm KST.

https://hedera.com/stablecoin-settlement

For this particular post, I'll just lazily copy and paste the description they put out in the YouTube channel. Hopefully no one will sue for an obvious plagiarism act.

Link to join the event: https://www.youtube.com/watch?v=BQJ9aVwB3N4

Cross-border transactions can take days to settle.

To expedite this process and its efficiency, Shinhan Bank, the leading bank in South Korea, and Standard Bank, the largest bank in Africa, have united in a proof-of-concept on Hedera. In so doing, the trial looked to reduce the reliance on middlemen, associated costs, and settlement time in the currently $702 billion remittance market.

In this talk, the two Hedera Governing Council members will showcase:

Challenges with legacy cross-border payment systems (SWIFT)

Proposed stablecoin solution on Hedera

A live demonstration of the settlement process

Updated 9-Dec-2021:

I watched the event and I think probably it's worth updating this post since I think it's just so cool (yep I'm a teen now) to see what they are doing and what the future holds. As usual, I'll use the Q&A form.

1. So how does it really work from an end user perspective?

The overall stablecoin transfer process is shown in Fig. 1.

It's just so easy, intuitive, and ... so fast. Less than 1 minute for cross-border remittance (25 second to be precise in the demo).

If Ashley in Korea wants to send money to Bob in South Africa, he'll just need to:

- Open the Shinhan Mobile App (Fig. 2) and select his Stablecoin Account (in S-KRW)

- Select Global Transfer to start a cross-border remittance process

- Choose the amount to transfer and check the conversion rate for a quick reference

- Get a Quote to see different transfer options (Fig. 3). They deliberately show two options here: SWIFT Remittance (which costs $35) and Stablecoin Global Transfer (which costs ... nothing!!!). I hope you know which one is better for you and your pocket.

- Select the Send using Stablecoin Global Transfer option.

- Then provide the beneficiary information (Hedera-based wallet address #, KYC, etc.)

- Then ... that's it. 25s and money will be sent over to Bob's Wallet.

Fig. 1: Stablecoin Transfer leveraging Hedera network (Shinhan Bank <-> Standard Bank demo)

[Fig. 2: Shinhan Mobile App (PoC only)](https://preview.redd.it/

https://www.finextra.com/newsarticle/39313/standard-bank-and-shinhan-bank-to-test-cross-border-stablecoins/crypto

Hello, I'm looking to update my literature as the editions I have are quite outdated (late 90s 😂). I was planning on purchasing the 2022 government paper money 33rd edition ( I currently have the 8th) and I noticed a Canadian Bank Notes 9th edition on the charlton standard wevsite. I was wondering if anyone could help me distinguish the difference between the two books?

1. Canadian Bank Notes 9th edition
2. 2022 Government Paper Money 33rd edition

Thank you in advance!

Our trust has this policy where they essentially say assure you’re working bank holidays if a standard day until we tell you that you’re not needed. I requested the Christmas bank holiday off as AL a while ago and just found out it’s declined, they still have no clear answer for whether I’m required. I have family flying in who I haven’t seen in a long time so really don’t want to be in. I’ve looked for BMA guidance etc on this but found nothing.

My question is can they force me to work this day despite it being a bank holiday and I’m scheduled for ‘routine’ work, ie not on call? Or can I just refuse?

So the VFS requires me to scan and upload all my documents for the tourist visa application of UK. My bank statement for 6 months is 200+ pages. Does anyone know if I have to scan and upload all the 200 pages? Are the first few and last few pages going to be ok ? Did anyone else face this problem or have any idea about what to do?

https://preview.redd.it/mfneyxrkl4981.png?width=1080&format=png&auto=webp&s=a2defc93d8dff4d45bb5425a988a3e78b7b97a4a

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1. Fidelity Canada will increase exposure to Bitcoin for two traditional ETFs;

2. Data: The average return of crypto hedge funds in 2021 is 214%;

3. Standard Chartered Bank's 2022 global market outlook: optimistic about financial technology, blockchain and other industries;

4. Nezha Automobile applied for the trademarks of "Nezha Yuan Universe" and "Nezha Universe";

5. Web3 Foundation announced the 12th funding plan;

6. The daily trading volume of LooksRare in the NFT market exceeded OpenSea by more than US$275 million;

7. The Central Bank of Bahrain completed the JPMCoin digital payment trial;

8. IMF: The simultaneous volatility of crypto assets and stocks will pose risks to financial stability.

Standard Chartered is hiring Haskell developers in London again! This time to work on the bank's cloud-based derivatives pricing platform. If you're interested, please apply through this link. If you have questions, feel free to reach out to me.

Andrew Maguire from 12.11.2021

https://www.youtube.com/watch?v=JP1XIKGyhrw

Same here also talks about the buy:

https://www.youtube.com/watch?v=qWqcSAaVLZ8

On Wednesday I went into the local branch to sort out an issue with my card (tbh I haven’t physically been into a bank in about 10 years) and had the greatest service. The lady was helpful, friendly, patient, all the good things. We spoke about her kids and my job and plenty more than just the typical niceties of a customer service interaction, she even took my number to pass on to a friend regarding my field of work. Today I went back to fetch my new card and realised that I didn’t get the super helpful lady’s name last time bc I was flustered by having to be in a bank at all, so I asked her to remind me, to which she replied something along the lines of “oh I didn’t tell you my name” … and then that was it? She still didn’t tell me her name, and no she wasn’t wearing a name tag.

I’m too awkward to have asked a second time, but I’m curious as to whether this is a company policy to protect employees or something, or if it was just a weird encounter? I’m baffled and it’s been bothering me all day.

I just read "the creature from jekyll island" and have a much greater understanding of the degree to which banks will always try to distort the system for their own gain. Even under the gold standard, where a physical gold bar was not able to be duplicated, they still found a way to duplicate them on paper and create money from nothing.

I know that a bitcoin cannot be duplicated, but fractional reserve banking could still exist.

Do you think the public ledger would allow people to more clearly observe when a banks reserves did not match it's total amount lent and so people might eventually ignore banks with fractional reserve?

Or do you think banks will totally vanish? This seems unlikely to me.

What assurances does the bitcoin protocol have to protect against the tendency of bankers to pervert the system?

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