National Australia Bank Is Driving Digital Economy Innovation By Creating The AUDN Stablecoin
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National Australia Bank has become the second largest bank to create a stablecoin called AUDN to enable its business clients to settle blockchain transactions in real time using Australian dollars and highlighting the role of banks in driving innovation in the digital economy. Moreover, events in Davos continue to surprise and are constantly in the spotlight.
In this article:
- Greta Thunberg accuses the political and business elite
- Another difficult year for the construction industry?
- AUDN- Stablecoin Created By National Australia Bank
Greta Thunberg accuses the political and business elite
Greta Thunberg is a Swedish environmental activist who is known for challenging world leaders to take immediate action for climate change mitigation. Now she has presented her activities in Davos.
The four climate activists arrived in Davos after writing an open letter to the CEOs of fossil fuel companies via the Avaaz non-profit website. Thunberg, Nakate, Gualinga and Neubauer called on the leadership of the energy giants to immediately stop opening new oil, gas or coal extraction sites.
Swedish climate activist Greta Thunberg accused the political and business elite at the World Economic Forum in Davos, Switzerland on Thursday of putting their own interests and short-term profits ahead of people and the planet.
Greta Thunberg says Davos prioritizing greed and short-term profits over people and planet https://t.co/DEyzDTN6jv
— CNBC (@CNBC) January 19, 2023
Another difficult year for the construction industry?
The construction industry was and is one of those most affected by the fight against inflation. The prices of raw materials grew at a significant pace. As a result, sales increased. Expectations are not too good for this year either. Geberit expects 2023 to be a challenging year for the European construction industry.
Rising interest rates led to a decline in sales in this market, as most preferred to renovate rather than buy a new home.
Pipemaker Geberit sees tough 2023 for Europe's builders after sales dip https://t.co/HstnO8Ork6 pic.twitter.com/xrJ2lIgFBL
— Reuters Business (@ReutersBiz) January 19, 2023
AUDN- Stablecoin Created By National Australia Bank
The continued interest of banks in blockchain technology to improve financial markets infrastructure comes despite the 2022 horror for crypto markets, culminating in the collapse of crypto exchange FTX.
The cryptocurrency market is constantly evolving. New ones appear. Now one of Australia's major banks, National Australia Bank, has announced the launch of the AUDN stablecoin. According to information, AUDN will be based on ethereum and blockchain algorithm. The stabeecoin will enable users to make real-time payments in blockchain technology, using the country's currency - the Australian dollar. AUDN will probably be rolled out in the middle of this year.
Furthermore, NAB and ANZ work closely with financial regulators when stablecoin rules are developed. Reserve Bank Chairman Philip Lowe said last month that stablecoin regulation must be a priority and should be treated like bank deposits.The government is considering a cryptocurrency regulation regime, but it is unclear whether stablecoin regulation will be part of the original law.
NAB and ANZ are not the only local players developing Australian dollar stablecoins.
Another cash-backed stablecoin, AUDE, was created by non-bank company Ettle and was also introduced late last year, including to the retail market.
NEWS: National Australia Bank (@NAB), one of the largest Australian banks, has created a stablecoin called AUDN.
— CoinGecko (@coingecko) January 19, 2023
📰 https://t.co/iJVTndtwvR pic.twitter.com/8wpzFzA8Jg
