* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, August 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Amazon to test escrow service in digital money pilot

June 21, 2023
in Technology
Amazon to test escrow service in digital money pilot
Share on FacebookShare on Twitter

Abstract colorful finance chart

Based on proposed common protocols, purpose-bound money is designed to work with different ledger technology and forms of money.

Eugene Mymrin/Getty Images

Amazon will join banks and fintech players participating in various pilot use cases to test the use of “purpose-bound” digital money. 

Specifically, the US e-commerce giant will work with Fazz and Grab to offer escrow arrangements for online retail orders, where payment will be released to merchants only after customers receive their purchases. 

Also: Amazon Prime Day is official: July 11-12 for major tech sales and more

The trial is one of several to be rolled out in Singapore, following the release of a technical whitepaper that details the concept of purpose-bound money. The document proposes software prototypes that specify conditions for the use of digital money, such as central bank digital currencies (CBDCs), tokenized bank deposits, and stablecoins on a distributed ledger, according to the Monetary Authority of Singapore (MAS), which published the whitepaper.

With purpose-bound money, senders can specify conditions such as the validity period and types of stores when transfers are made across different systems. 

“Purpose-bound monies are bearer instruments, which are transferrable on a peer-to-peer basis without intermediaries,” the whitepaper notes. “[They] contain digital money as a store of value and programming logic denoting its use based on programmed conditions. Once the conditions are met, digital money is released, and it becomes unbounded once again.”

The whitepaper details a four-tiered technology stack used in a digital asset-based network, including an access layer and a platform layer. The programming logic of purpose-bound money, for instance, is characterized as a service, while digital money sits on the asset layer. When digital money is bound, it moves between the service and asset layers. 

Also: The best apps for planning your budget: Rocket Money, Mint, and more

Based on the proposed common protocols, purpose-bound money is designed to work with different ledger technology and forms of money. This standardized format will enable users to access digital money using the e-wallet provider of their choice, MAS said. 

The Singapore central bank said the whitepaper comprises technical specifications that detail the digital money’s lifecycle, spanning issuance to redemption, as well as the protocol to interface with digital currencies backing it. The document also contains business and operating models outlining how arrangements can be programmed, so that money is transferred only when service obligations or terms of use have been fulfilled. 

Available via MAS’ website, the whitepaper was developed in collaboration with the International Monetary Fund, Banca d’Italia, and Bank of Korea, alongside various financial institutions and fintech firms, including OCBC Bank, Onyx by J.P. Morgan, and DBS Bank. Amazon, Fazz, and Grab also contributed to the whitepaper.

Also: ChatGPT outperforms money managers, as Americans flock to AI for investing advice

Fazz and Grab will participate in another trial with three other financial institutions to test the use of purpose-bound money in facilitating cashback and other incentives to customers. This pilot use case aims to reduce friction for merchants, such as manual reconciliation of sales proceeds and time needed to onboard new sales campaigns. 

The whitepaper further supports MAS’ Project Orchid, under which source codes and software prototypes are released for public access, as part of efforts to drive the development and adoption of digital money. Governments, financial institutions, and organizations can tap the open source codes and prototypes to facilitate their own research and experiments, MAS said. 

The industry regulator in May last year also unveiled plans to pilot asset tokenization and assess the feasibility of autonomous trading, using smart contracts powered by blockchain.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ZDNet – https://www.zdnet.com/finance/banking/amazon-to-test-escrow-service-in-digital-money-pilot/#ftag=RSSbaffb68

Tags: Amazonescrowtechnology
Previous Post

How an Amazon Prime membership can save you money on groceries

Next Post

The best security cameras of 2023

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

August 26, 2025
Bishop Kearney girls’ hockey team partners with UR Medicine for science-based training – 13wham.com

Bishop Kearney Girls’ Hockey Team Teams Up with UR Medicine for Cutting-Edge Science-Based Training

August 26, 2025
STEM camps offered at National Museum of Nuclear Science and History – KRQE

Discover Thrilling STEM Camps Now Open at the National Museum of Nuclear Science and History!

August 26, 2025
7 things people do when they care too much about what others think – VegOut

7 Signs You’re Caring Too Much About What Others Think

August 26, 2025
The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

How AI and Technology Are Transforming the Future of Interactive Entertainment

August 26, 2025
First look: ‘Whistle Blowers’ doc focuses on the crisis facing youth sports officials – NBC 5 Dallas-Fort Worth

Inside the Crisis Facing Youth Sports Officials: An Eye-Opening Look at ‘Whistle Blowers

August 26, 2025
South Carolina city selected to host 2027 Diamond Youth Baseball World Series – WRDW

South Carolina City Selected to Host the Exciting 2027 Diamond Youth Baseball World Series

August 25, 2025

Brazil’s low-voltage consumers could save 16% on power bills – Valor International

August 25, 2025
‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

August 25, 2025
Georgia lawmakers plan for federal cuts to already ‘underfunded’ public health services – Grice Connect

Georgia Lawmakers Prepare to Fight Federal Cuts Threatening Public Health Services

August 25, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (790)
  • Economy (809)
  • Entertainment (21,689)
  • General (16,673)
  • Health (9,850)
  • Lifestyle (823)
  • News (22,149)
  • People (811)
  • Politics (818)
  • Science (16,020)
  • Sports (21,309)
  • Technology (15,791)
  • World (791)

Recent News

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

August 26, 2025
Bishop Kearney girls’ hockey team partners with UR Medicine for science-based training – 13wham.com

Bishop Kearney Girls’ Hockey Team Teams Up with UR Medicine for Cutting-Edge Science-Based Training

August 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version