Even prior to the usual “starting gun” towards the Vatican’s working year, the Pope has again moved to get rid of August using a bang: at Roman Noon today, the Holy See announced the consolidation in the four Pontifical Councils centered on social teaching and outreach right into a new “Dicastery for Promoting Integral Human Development,” together with the longtime Justice and Peace Czar, Ghanaian Cardinal Peter Turkson (above), tapped because the combined entity’s founding head. Essentially placing all of the Holy See’s silos coping with the Social Magisterium – included in this, the business enterprise, political and military worlds – under one umbrella, the merged office will absorb the functions from the respective Councils for Justice and Peace, Cor Unum (“One Heart,” which oversees the global church’s charitable and humanitarian works, plus relief efforts), Migrants and Itinerant Peoples as well as the Pastoral Care of Health Workers. Although couple of pontifical commissions Papa Bergoglio has generated on various topics – e.g. protection of minors, reform of annulments, lately the diaconate – all report right to Francis, no Curial entity up to now has explicitly been headed by Pope himself: not only in such a pontificate, but any recently.

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With the move – set to take influence on January 1st (which, going back half-century, the church has observed because the World Day of Peace) – only five councils will stay from what have been 12 second-tier Curial offices before Francis’ slow-burn, piecemeal reform began in early 2014; a whole overhaul of Pastor Bonus – St John Paul II’s 1988 constitution organizing the church’s central government – remains inside the works. Yet because the merger from the Pontifical Councils for that Laity and the household takes effect tomorrow using the formal launch of the brand new Dicastery for Laity, Family and Life – its founding announced almost this past year – it bears noting that today’s consolidation has seriously an even more rapid timeframe, ostensibly because the pontiff had his choice to lead the social organ already on-site. Given the red hat by John Paul at his last Consistory, Turkson was taken to Rome by B16 in ’09 2009 to serve because the church’s lead spokesman on social justice issues.

The lone Scripture scholar on the list of cardinal-electors before tail-end of Benedict’s pontificate – and long touted as the utmost sensible and astute African papabile – the 67 year-old prelate possesses a rare mixture of charisma and intellect: as students with the Franciscan-run (now closed) St Anthony’s Seminary in upstate NY, the near future cardinal famously painted a wall of his dorm-room black, deploying it to be a chalkboard to review Hebrew. Reported to be fluent in eight languages, Turkson’s profile has only risen further amid Francis’ enhanced focus on peace, the indegent and development issues, crossing the world to provide loaded reflections on Catholic social teaching and its own implications on a bunch of fronts. Most importantly, however, the cardinal was the lead player behind the preparation and rollout of Laudato Si’ – last year’s landmark encyclical on the surroundings – whose publication saw such mammoth interest which the release day media briefing needed to be moved through the Vatican Press Office to a more substantial venue. Laity, Family, Life, the brand new prefect there, Bishop Kevin Farrell, is likewise thought as heading in exactly the same direction.

Initially fashioned by Blessed Paul VI inside the post-Conciliar years being an part of Vatican governance that primarily would engage various fields rather than exercising jurisdiction, the number of pontifical councils was further expanded under both St John Paul II and Pope-emeritus Benedict XVI, the latter adding the ultimate in the dozen this year 2010 with all the establishment associated with an office for Promoting the brand new Evangelization. Within the flip-side, however, today’s move actually brings to completion an idea initially mooted by Papa Ratzinger, who attemptedto consolidate Justice and Peace with Cor Unum early in his pontificate, but was warded off it from the Curia’s traditional penchant for protecting bureaucratic turfs. Beyond the respective deputies of both catch-all dicasteries, another major question remains in the air: the slates of prelates and lay experts who’ll form the memberships of every office. As each one of the merging councils experienced sizable sets of members and consultants independently as yet, whether those seats will undoubtedly be folded in to the new offices or reconstituted from scratch continues to be decidedly unclear, and can have a big effect on the scope and focus the brand new bodies will carve out for themselves.

Scores receive beyond a possible 5, having a 5 and therefore the problem is entirely resolved. In its current iteration, Ripple will not address the complexity of handling many bilateral correspondent relationships in any way. However, it can offer the prospect of implementation of some type of cross-border netting mechanism. This might still require some type of bank-owned central player to do something because the clearing house – the DLT won’t alone address this matter. Furthermore, until there’s broad acceptance of something similar to the Ripple network among international banks worldwide, banks will see themselves coping with two forms of correspondent relationship – those founded on traditional methods (including SWIFT messaging), and the ones carried out from the Ripple network. SWIFT has over 9,000 member banks, most of whom provide correspondent banking and particularly payments services, so that it will take a long time to attain critical mass. This may be considered the worst of both worlds, and potentially will make this score temporarily negative. THEREFORE I think I’ve been kind. Remember that for Ripple to turn into a classic global settlement network, balances in the distributed ledger would have to be publicly tradeable (perhaps analogously to Bitcoin).