cross-border payments Concepts

Money in the Metaverse: Digital Assets, Online Identities, Spatial Computing and Why Virtual Worlds Mean Real Business

by David G. W. Birch and Victoria Richardson · 28 Apr 2024 · 249pp · 74,201 words

cover the volumes. From that came another benefit to international trade: bills of exchange. These further lowered both the costs and the risks associated with cross-border payments (and therefore reduced the interest rates charged). In this new world of paper money and ledgers, order was maintained without a police force because of

Our Dollar, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead

by Kenneth Rogoff · 27 Feb 2025 · 330pp · 127,791 words

included a dizzying array of computing giants, major banks, and credit card companies, but also blockchain and stablecoin operators, crypto banks, identification specialists, operators of cross-border payment systems, and many others. The ultra-brilliant group was remarkably diverse, representing every continent in the world and different educational and socioeconomic backgrounds. There was

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, Washington, Paris, and the Tripartite Agreement of 1936 (Cambridge: Cambridge University Press, 2021). 8. Hector Perez-Saiz, Longmei Zhang, and Roshan Iyer, “Currency Usage for Cross Border Payments,” Working Paper No. 2023/72 (International Monetary Fund, March 2023). 9. See Patrick McGuire, Goetz von Peter, and Sonya Zhu, “International Finance Through the Lens

The Corruption of Capitalism: Why Rentiers Thrive and Work Does Not Pay

by Guy Standing · 13 Jul 2016 · 443pp · 98,113 words

in the EU and to ninety-five years in the USA, which grants the same term to films made by US movie studios. In 2014, cross-border payments of royalties and licensing fees for use of all forms of intellectual property (excluding profits from domestic exploitation) were estimated by the WTO at nearly

The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay

by Emmanuel Saez and Gabriel Zucman · 14 Oct 2019 · 232pp · 70,361 words

pays to the rest of the world. In the 1950s and 1960s, when international capital markets were shut down, these international flows were negligible. Today, cross-border payments of interest and dividends are sizable. The United States pays 3.5% of its GDP to foreign countries—in the form of interest and dividends

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a multi-tool. It can be used to avoid estate taxes, capital gains taxes, ordinary income taxes, wealth taxes, corporate income taxes, withholding taxes on cross-border payments of interest, dividends, and royalties. It also comes in handy if you want to defraud the IRS, ex-spouses, children, business partners, or creditors. It

Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud

by Ben McKenzie and Jacob Silverman · 17 Jul 2023 · 329pp · 99,504 words

was closely held, the marketing pitch was simple and potentially compelling: If Bitcoin could be used as money—at least when it came to making cross border payments and encouraging tourism—it could be a game changer for the country. El Salvador’s economy depends on remittances. The money that the two to

Currency Wars: The Making of the Next Gobal Crisis

by James Rickards · 10 Nov 2011 · 381pp · 101,559 words

imposed by capitalist countries themselves. These restrictions included capital controls that made it difficult to invest freely across borders and taxes that were imposed on cross-border payments made on investments. Stock markets limited membership to local firms and most banks were off-limits to foreign ownership. Courts and politicians tilted the playing

The Currency Cold War: Cash and Cryptography, Hash Rates and Hegemony

by David G. W. Birch · 14 Apr 2020 · 247pp · 60,543 words

since the Bretton Woods Agreement of 1944 – has never been stronger. As reflected in its overwhelming dominance when it comes to total central bank reserves, cross-border payments, foreign exchange trades and, most significantly, international corporate assets and liabilities, the greenback is more powerful than ever. But the world’s concentrated dependence on

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that is to be welcomed. They are trying to solve them. So domestic payments are still too slow and not distributed in real time. And cross-border payments are much worse. They cost a lot more and take a lot longer to execute. And that is just not necessary. It is a product

Mastering Blockchain: Unlocking the Power of Cryptocurrencies and Smart Contracts

by Lorne Lantz and Daniel Cawrey · 8 Dec 2020 · 434pp · 77,974 words

company MoneyGram, in which Ripple has made a $50 million equity investment. MoneyGram uses Ripple’s On-Demand Liquidity product to facilitate cheaper and faster cross-border payments. Stellar Launched in 2014, Stellar was founded by Jed McCaleb and Joyce Kim, who had both previously worked at Ripple. The Stellar protocol is supported

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(which became Interstellar in 2018 after acquiring the blockchain company Chain) to promote and encourage adoption of the protocol. Like Ripple, Stellar is focusing on cross-border payments, albeit with a more unbanked and underbanked bent, attempting to provide services to those who lack financial access. Scaling Blockchains In technology terms, scaling is

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its own blockchain based on Ethereum. It has also created its own stablecoin, JPC Coin. The cryptocurrency will be used as a method of making cross-border payments, which can be expensive and inefficient, via the Quorum blockchain. Users will be able to deposit fiat with the bank, be issued JPM Coin, and

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this problem in 2016, and it launched a service in 2019 called B2B Connect that uses Hyperledger. Interbank payments Large banks also have problems making cross-border payments. Some of these problems involve a lack of information about a payment when sending it to banks around the world. JPMorgan, with its JPM Coin

The Unbanking of America: How the New Middle Class Survives

by Lisa Servon · 10 Jan 2017 · 279pp · 76,796 words

problem.” When the transfer is immediate, it’s costless and riskless. “That’s a huge, huge changeup,” Larsen said. One application of Ripple technology handles “cross-border payments”—value being moved from one country to another. My RiteCheck and Check Center customers frequently sent money to friends and relatives in their home countries

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of uncertainty, failure rates, time delay, and enormous cost.” Larsen estimates that it costs about $1.6 trillion dollars to move the $22 trillion in cross-border payments that are transferred annually. Banks will benefit from Ripple’s technology because it will lower their costs significantly. Consumers will benefit because they’ll be

The Fourth Industrial Revolution

by Klaus Schwab · 11 Jan 2016 · 179pp · 43,441 words

to $20 billion and transform the way the industry works. The shared database technology can streamline such varied activities as the storage of clients’ accounts, cross-border payments, and the clearing and settling of trades, as well as products and services that do not exist yet, such as smart futures contracts that self