Counterparty (platform) (Ofer Abarbanel online library)

Counterparty is a peer-to-peer financial platform and distributed, open source Internet protocol built on top of the Bitcoin blockchain and network.[1] It was one of the most well-known “Bitcoin 2.0” platforms in 2014, along with Mastercoin, Ethereum, Colored Coins, Ripple and BitShares.[2] It is a “metacoin”-type protocol. It provides such features as tradable user-created currencies, additional financial instruments and a decentralized asset exchange.[3] In November of 2014, Counterparty added support for the Ethereum Virtual Machine to the Counterparty protocol and allowing all Ethereum decentralized applications to be run on the Bitcoin blockchain within the Counterparty protocol.[4][5] Continue reading “Counterparty (platform) (Ofer Abarbanel online library)”

CLS Group (Ofer Abarbanel online library)

CLS (originally Continuous Linked Settlement) is a specialist US financial institution that provides settlement services to its members in the foreign exchange market (FX). Although the forex market is decentralised and has no central exchange or clearing facility, firms that chose to use CLS to settle their FX transactions can mitigate the settlement risk associated with their trades.[1] Continue reading “CLS Group (Ofer Abarbanel online library)”

Chiang Mai Initiative (Ofer Abarbanel online library)

The Chiang Mai Initiative (CMI) is a multilateral currency swap arrangement among the ten members of the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China (including Hong Kong), Japan, and South Korea. It draws from a foreign exchange reserves pool worth US$120 billion and was launched on 24 March 2010. That pool has been expanded to $240 billion in 2012.[1] Continue reading “Chiang Mai Initiative (Ofer Abarbanel online library)”

Currency (Ofer Abarbanel online library)

currency (from Middle English: curraunt, “in circulation”, from Latin: currens, -entis), in the most specific sense is money in any form when in use or circulation as a medium of exchange, especially circulating banknotes and coins.[1][2] A more general definition is that a currency is a system of money (monetary units) in common use, especially for people in a nation.[3] Under this definition, U.S. dollars (US$), euros (€), Japanese yen (¥), and pounds sterling (£) are examples of currencies. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Continue reading “Currency (Ofer Abarbanel online library)”

Currency adjustment factor (Ofer Abarbanel online library)

The currency adjustment factor (CAF) is a fee placed on top of freighting charges for carrier companies. The charge was developed to account for constantly changing exchange rates between the dollar and other currencies. Thus its goal is to offset any losses from constantly fluctuating exchange rates for carriers.[1] Calculation basis & methodology might vary from carrier to carrier. Continue reading “Currency adjustment factor (Ofer Abarbanel online library)”