Foreign Exchange Transactions To Take 10 Seconds With CBDCs – November 4

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $20,786

Bitcoin price briefly broke through the $21,000 mark this morning as the entire market rallied strongly, now cooling off.

Top-20 altcoins have performed well, as Ethereum rises 5%, BNB jumps 7% and Dogecoin slows down with.a 6% correction.

Top Stories for November 4, 2022 πŸ”₯

πŸ‘‰ Foreign Exchange Transactions To Take 10 Seconds With CBDCs

Federal Reserve Bank of New York claims that foreign exchange transactions would take just ten seconds, according to their system testing.

The project simulation involved a permissioned blockchain network that was written in the “Rust” programming language, however further details were not disclosed.

Currently, the industry standard for such transactions is two entire days – a timeframe that could be highly improved upon.

πŸ‘‰ UK Parliament To Investigate Risks & Benefits Of NFTs

A group of MP’s in UK parliament are launching an inquiry into the risks and benefits of non-fungible tokens (NFTs) – likely to result in proposals for NFT oversight in the country.

The group will assess if NFT investors are “put at risk by the market” and also aims to help Parliament understand the opportunities presented by the technology.

πŸ‘‰ Gala Games Calms Community Following $2B “Hack”

Gala Games, a blockchain gaming company, has calmed its community following what appeared to be a hack that minted $2 billion worth of tokens out of thin air.

It was later revealed that the “hack” was carried out by the project team itself, after seeing a bug in a cross-chain bridge code related to the token.