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Japanese Finance Minister Satsuki Katayama: US Treasury Secretary Bessenter has not commented on the Bank of Japans policy.On September 4th, Tencent Cloud announced the launch of its AI-powered autonomous penetration testing product, "Wujing," delivered as a SaaS platform and ready to use out of the box. Wujing primarily targets four scenarios: pre-deployment detection, routine continuous penetration testing, pre-attack and defense drills, and business logic vulnerability testing. Enterprises can simply input the authorized targets and asset scope to obtain a reproducible vulnerability evidence report with a single click. The product is now available for enterprise trial.Japanese Finance Minister Satsuki Katayama: U.S. Treasury Secretary Bessenter has consistently maintained that the yen is undervalued, largely due to interest rate differentials.On September 4th, an official from the National Healthcare Security Administration stated that by the end of 2028, the long-term care insurance system will achieve basic full coverage nationwide. Following the principles of coordinating urban and rural areas and covering all citizens, the coverage will be expanded from employees to urban and rural residents. A unified national standard for disability assessment will be established, and the mutual recognition of assessment results nationwide will be promoted. Policies for cross-regional access to long-term care insurance benefits will be improved, the professional care workforce will be continuously strengthened, and the accessibility and professionalism of services will be enhanced. The long-term care insurance system will be effectively integrated with subsidies for economically disadvantaged elderly and disabled individuals, as well as care subsidies for severely disabled persons, to better meet the diverse service needs of the public.On September 4th, Wang Wenjun, Deputy Director of the National Healthcare Security Administration, introduced at a press conference held by the State Council Information Office on the theme of "Starting the 15th Five-Year Plan" that the number of people enrolled in my countrys long-term care insurance has exceeded 320 million, with a cumulative expenditure of 114.2 billion yuan, providing care services to more than 4.6 million disabled people. As of now, 22 provinces have issued provincial implementation plans, and the number of established unified planning areas has reached 121. It is expected that by the end of this year, the number of unified planning areas nationwide will expand to 247.

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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