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According to US financial media Semafor, the US artificial intelligence safety bill may be submitted as early as next week.On September 10th, according to futures market reports, crude oil prices generally trended upward this week, with the weekly average price rising compared to the previous week. According to JLC Network Technologys calculations, as of the ninth working day on September 10th, the average price of benchmark crude oil was $92.87 per barrel, with a change rate of 5.89%, indicating that domestic gasoline and diesel retail prices should increase by 330 yuan per ton. Based on the "ten working days" principle, the adjustment window for this round of prices is at 24:00 on September 11th. Affected by the escalating tensions between the US and Iran, the expected increase in retail prices may reach around 400 yuan per ton. In summary, if the conflict further escalates, a continued surge in international oil prices next week cannot be ruled out, leading to an increase in domestic refined oil retail prices, providing positive support for the oil market.A spokesperson for the European Commission stated that the EUs cybersecurity agency, ENISA, has been granted access to OpenAIs latest model, GPT-6-ASTRA.On September 10th, a spokesperson for the Pakistani Ministry of Foreign Affairs stated at a press conference that some Pakistani armed forces personnel are currently in Saudi Arabia for training and related logistical work. This is the first official confirmation of this information from Pakistan. The spokesperson stated that Pakistan and Saudi Arabia have a long-standing bilateral relationship and defense cooperation. According to the Mecca Mutual Defence Agreement, both sides and relevant countries will further advance relevant defense cooperation arrangements. The spokesperson noted that the Mecca Mutual Defence Agreement is a framework agreement, and specific procedures, mechanisms, and cooperation structures still need to be developed within its framework.The UK 2-year yield rose 2 basis points to 4.72%, the highest level since November 2023.

Bitcoin Lightning Network-Based Strike Can Rival Visa – MS

Cory Russell

Apr 25, 2022 09:49

Morgan Stanley is optimistic about the bitcoin Lightning Network's potential as a consumer payment option.


They believe Strike, a Lightning Network-based payment technology, can compete with or even outperform Visa in the digital payments market.


Strike has partnered with Shopify and NCR, the world's leading supplier of point-of-sale payment solutions.


Morgan Stanley published a new analysis on the Lightning Network, bitcoin's Layer 2 fast payment system, and its potential to enable a "long-term move towards payments and settlements utilizing digital and cryptocurrencies rather than fiat currencies like the US dollar."


Morgan Stanley's positive analysis on the Lightning Network's potential for broader adoption comes after Strike, a US-based digital payments platform built on top of bitcoin's Lightning Network, announced earlier this month a new integration agreement with e-commerce giant Shopify.


Customers who paid in bitcoin will now be able to receive payments in US dollars from US Shopify businesses. Strike has announced collaborations with NCR, the world's leading supplier of point-of-sale (PoS) payment services.

Morgan Stanley Believes That Lightning Network Will Be Able to Compete With Visa

Morgan Stanley outlined why it believes Strike, a Lightning Network-based digital payment network, can compete with or perhaps exceed Visa in its recent study.


Morgan Stanley observes that "in essence, Strike is directly competing with Visa Direct, which provides real-time settlement," adding that "the primary distinction for merchants will be paid a significantly lower transaction cost."


"The customer advantage is that they may, if they choose, host their bitcoin on a private, secure network, enabling an element of secrecy connected with their transaction," the bank says.


Morgan Stanley emphasizes the importance of Strike's cooperation with NCR. "NCR software is used by one in every six PoS devices worldwide," the bank says, "so this news is important even if just a tiny percentage of retail businesses opt to add crypto capabilities."

Cons of Making Bitcoin Payments

The Morgan Stanley analysis points out some of the disadvantages of utilizing a bitcoin-based payment system, such as the cryptocurrency's underlying volatility on a day-to-day basis, which makes forecasting future buying power problematic.


Meanwhile, Morgan Stanley says that existing tax regulations, which require users to pay capital gains taxes on cryptocurrencies they sell, are a barrier to greater acceptance of bitcoin as a widely used means of exchange.


The bank, on the other hand, mentions the Virtual Currency Tax Fairness Act, which has been introduced in the US Congress. If passed, the law would exclude personal bitcoin transactions from taxation as long as the profits are less than $200.


Morgan Stanley, on the other hand, cautions that this plan may meet criticism, particularly from anti-crypto members of Congress, since it serves to establish bitcoin (and other cryptocurrencies) as credible alternatives to the US currency.


The Morgan Stanley analysis "suggests we are at the beginning of an age when more and more people may opt to pay for items using Bitcoin and cryptocurrencies over time," according to Alex Gladstein, who summarized it on Twitter.

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