#CryptoCollateral

[virtualcurrencyspace]

The Potential Use Of Cryptocollateral

As cryptocurrency has gained popularity, one area of the financial markets where adoption has not occurred is the use of cryptocurrency as a credit enhancement for secured corporate debt facilities.

The number of corporate borrowers transacting in cryptocurrency is trending upward so this additional type of virtual secured corporate debt, called cryptocollateral, may be of greater interest to lenders seeking to expand their potential collateral.

Efforts to tailor existing commercial law to fit the cryptocollateral asset class are in the early stages. In 2019 alone, according to the Uniform Law Commission, only Rhode Island has adopted a model statute aimed at providing rules for perfecting security interests in cryptocollateral. And four other states — California, Oklahoma, Nevada and Hawaii — have seen this model statute introduced in their legislatures. A sixth state, Wyoming, recently enacted its own set of rules governing security interests in virtual currencies. Such evolution is helpful and necessary.

https://www.americanbanker.com/opinion/virtual-currencys-new-frontier-cryptocollateral

[ptpc2-blog]

San Agustin churh

Concealed behind the walled city of Intramuros, built by the Spaniards in 1570, is the church of San Agustin. This church is a significant monument to the Spanish colonization of the Philippines, being the first religious structure built in the island of Luzon, after the Spanish relocated from Cebu in the south. Built within the administrative center of the Spanish government, San Agustin church enjoyed privileges not commonly dispensed to most colonial churches. It was built by the Spaniard Juan Macias in 1586 and was completed in 1606. Luciano Oliver later renovated it in 1854. The book Great Churches of the Philippines points out that the church was designed “according to the plans approved by the Royal Audencia of Mexico and by a Royal Cedula.” Jesus Encinas, who wrote San Agustin Manila, states that the design of the church was derived from other churches that were built by the Augustinians in Mexico. Pedro Galende, OSA, in his book San Agustin Noble Stone Shrine, adds that the Augustinians “who came from Spain and those born in Mexico had a great opportunity to observe and study the South American monastic architecture which they later used in the Philippines. They took into consideration the quality of the local stone and the weather conditions which required them to sacrifice aesthetic requirement for durability.” This practical and banal approach to aesthetics is evident on the church’s facade. It may have been the most sought and copied facade in the colonial period, but its static appearance and dark adobe stone lack grace and charm. Even the Augustinians themselves were not too kind with the church’s displeasing appearance. In another book, Angels in Stone, Galende recalls the Augustinian historian, Agustin Ma. de Castro’s critical comment of the church’s facade: “It was of triangular form, very ugly and of a blackish color; flanked by two towers, one of which has no bells and does not serve for anything. Due to the frequent earthquakes in Manila, they (towers) have only one body, ugly and irregular, without elevation or gracefulness.” Sedate and direct to the point, the facade follows the style of High Renaissance. The symmetrical composition is prefixed by pairs of Tuscan columns that flank the main door of the two-tiered facade. The vertical movement of the paired columns is adapted at the second level by equally paired Corinthian columns. At the second level, mass and void alternate in a simple rhythm of solid walls and windows. The two levels, emphasized by horizontal cornices, are then capped by a pediment that is accentuated with a simple rose window. The facade’s hard composition is held together by two towers; unfortunately, the missing left belfry further exaggerates the lackluster facade. It was taken down after a destructive earthquake hit the church in 1863 and 1880, splitting the tower in two. The facade has a touch of Baroque by the ornately carved wooden doors that depict floras and religious images. Baroque is also evident in the carved niches that quietly reside between the paired lower columns. The church is bequeathed with Chinese elements in the form of fu dogs that emphatically guard the courtyard entrances. Alicia Coseteng, in Spanish Churches of the Philippines, describes the church as having “an inverted vaulting foundation, which reacts to seismic effects in much the same manner as the hull of a ship resists the waves.” Although this is difficult to prove, this may be one of the reasons why, amidst the destructive natural calamities that are prevalent in the country, the church is still standing today. Winand Klassen, in his book Architecture in the Philippines, also notes that the church has an inverted vault-like foundation, and was the first earthquake-proof building in stone. This makes San Agustin as the only surviving 16th century edifice, and the oldest church in the Philippines. Another interesting structural component of the church is the lateral bays that act as interior buttressing. This is completely different from all the colonial churches where the wall buttresses flare out at the exterior side of the church walls. Within each compartmentalized bay is a side chapel that Coseteng refers to as cryptocollateral chapel. Seven side chapels line the entire length of each side of the nave. San Agustin church is also the only colonial church that has retained its original vaulting, despite the destructive forces that shelled the church during WW II. It was a fortuitous turn because San Agustin church flaunts one of the most artistically decorated interiors among all of the colonial churches in the country. Read the full article

[the-blockchain-news]

Coinloan Provides Money Secured On Cryptocurrency - Launching Token Sale

Coinloan Provides Money Secured On Cryptocurrency - Launching Token Sale #Coinloan #ICO #TGE #TokenGenerationEvent

The CoinLoan project is a platform for providing cash loans secured on cryptoassets. After launching the project, cryptocurrency holders will be able to receive fiat currency without selling digital assets. For this, borrowers can deposit a cryptocollateral into the system (e.g., in Bitcoin, Ethereum or Litecoin). After this they will receive funds in USD, EUR, GBP or other popular fiat…