Digital Currencies Could Outshine SWIFT System, Says Central Bank of Russia’s Deputy Governor

Digital Currencies Could Outshine SWIFT System, Says Central Bank of Russia’s Deputy Governor

(Source bitcoin.com)  The first deputy governor of the Central Bank of Russia has been vocal in a recent online meeting, reported by Russia Today, about the topic of digital currencies challenging the SWIFT international payments system and make it redundant. The SWIFT system is used in more than 200 countries between 11,000 financial institutions to arrange cross-border payments. Still, the major disadvantage of processing transactions through such networks is the slowness and the expensive costs it carries. The Central Bank of Russia is working on its own CBDC, digital ruble, as they are planning to launch a series of tests similar to those performed by China. Five Russian banks already expressed interest in participating in the CBDC pilot. The State Duma, the Federal Assembly of Russia’s lower house, expects the digital ruble experiment to start in the first half of 2021.

US hospitalizations from COVID-19 hit all-time high

US hospitalizations from COVID-19 hit all-time high

(Source thehill.com) Coronavirus hospitalizations in the U.S. have hit an all-time high with more than 121,000 people hospitalized nationwide, according to the COVID Tracking Project. This figure includes 22,592 intensive care patients, an increase from 16 percent capacity in September to 40 percent. A continued increase could put overwhelmed hospitals in the position of having to ration care, CNN medical analyst Jonathan Reiner said in an appearance on the network. “If you don’t have respirators, you don’t have nurses to care for patients, you don’t have ICU beds, we will have to have these terrible discussions with families, which is why people need to stay home, and when they go out, they need to wear a mask,” he said. Texas reported 11,351 patients, surpassing a July 22 high of 10,893. North Carolina also hit a new high for hospitalizations according to data from the state Department of Health and Human Services. In the past six weeks, the adults in the state’s intensive care units for the virus have doubled, while overall coronavirus hospitalizations have doubled in the last 38 days, according to the Raleigh News & Observer