Walmart Cryptocurrency? Filings Reveal Plans for a Coin, NFTs

LA TIMES

Walmart has applied for patents on blockchain technology and non-fungible tokens. This unanticipated development indicates that the company intends to make and sell virtual goods and meet its customers in the emerging metaverse. Walmart's interest in this space appears to be more than just a fleeting trend. The retail giant is leapfrogging towards the metaverse by incorporating cryptocurrency into its business. A few months ago Walmart advertised a position to create "a digital currency strategy and product roadmap" as well as identify crypto-related investments or partnerships that would help them move towards this goal quickly.

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The IRS Wants to Know About Your Crypto Transactions This Tax Season

CNBC

Crypto investors and traders should be wary of the IRS's increased scrutiny this tax season. The first page on a U.S-based income return now contains a question about virtual currencies like Bitcoin, Ethereum, and Dogecoin - all transactions involving these assets are subject to US laws requiring disclosure if they took place in 2021. Obtaining compensation in crypto, rewarded for crypto mining, or free coins through "Airdrops" or "hard forks" are examples of such transactions. The Internal Revenue Service has emphasized cryptocurrency-to cash conversions in recent years, but it's not new to inquire about crypto transactions.

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Bitcoin Investors Dig In for Long Haul in “Staggering” Shift

REUTERS

Amid a cryptocurrency downturn, many investors are doubling down on their Bitcoin reserves because they see it as only temporary. The underlying stability and long-term prospects for these investments speak volumes about how healthy or unhealthy cryptocurrency is overall. Bitcoin, the world's most widely used cryptocurrency, has been witnessing increased stagnation in recent months. Meanwhile, Bank of America analysts predicted that Solana, a rival cryptocurrency, would steal Ethereum's market share and "could become the Visa of the digital asset ecosystem." Proponents of bitcoin and other cryptocurrencies, on the other hand, claim that the growing acceptance of cryptocurrencies in global finance and investment over the last several years has stabilized the market.

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How will the crypto selloff impact the NFT market?

TECH CRUNCH

The rise in the value and trading activity of NFTs, which are primarily based on Ethernet blockchain, is not the effect of a single cause, but rather a cocktail of several elements. The growth in Ether's wealth has been an important catalyst for the NFT boom. In the wake of the crypto price drop, NFTs have been in a state of uncertainty. It appears that Ether-rich people have been gambling on NFTs as non-traditional assets; that is not necessarily a bad thing. It does raise the question of what happens to NFT activity and prices if the backing asset rapidly loses value.

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Decentral Park Capital Launches $75M DeFi Fund

COIN DESK

DeFi projects will be the primary focus of a new $75 million fund, founded by Decentral Park Capital. The development of blockchain technology and decentralized finance is exploding, with hundreds of millions of dollars in funding from sophisticated "big money" investors suggesting that decentralized finance has become a major component of high-net-worth investors' portfolios. Last year, investment funds focused on cryptocurrencies reached new highs as cryptocurrency prices rose, but the latest fund announcement comes at a time of price decline. The new Web 3 fund will invest in projects that include decentralized exchanges, lending protocols, oracles, staking, and middleware infrastructure.

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Stocks and Property Will be Turned into NFTs

CNBC

Earlier this month we published our 2022 predictions of Technology trends that included NFT-fication of everything. CNBC appears to agree. Future Non-Fungible Tokens will be made out of stocks and real estate. NFTs are "one-of-a-kind" digital assets that may be bought and sold over the internet. They're intended to demonstrate that a person owns a one-of-a-kind virtual item, such as photographs or videos, or sports trading cards, for example. It's uncertain why anyone would want to own an NFT of a stock. Over the last year, the number of things being converted into NFTs has exploded. Everything from the worldwide web's source code to tweets has been sold as an NFT. Some people are perplexed as to why these non-material assets are being sold for such a high price.

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Ethereum’s Centralization Endgame Makes The Case for Building on Bitcoin

BITCOIN MAGAZINE

Ethereum creator Vitalik Buterin is one of the top blockchain thought leaders that I follow to stay up-to-date on the evolution of this emerging technology. This week I came across his opinion pieces, named ENDGAME, in which he addressed worries about the undue centralization of Ethereum. He didn't do it to dismiss those allegations; instead, he wanted to confirm them. Clearly, even by Buterin, Bitcoin isn't considered the norm for blockchain. We recall the Block Size Wars when a contentious fork known as Bitcoin Cash emerged from a fundamental dispute over acceptable block sizes for Bitcoin. As we know it today, it fought on the side of the average person, allowing tiny block sizes so that anybody with a computer and an internet connection can contribute as a node. In order to meet their sense of transactional demand, Bitcoin Cash supporters demanded larger blocks to compete with Visa in terms of transaction processing speed.

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Washington State Bills Push for Blockchain Group, Digital Credentials

STATESCOOP

Contrary to a more popular belief I have been a proponent of regulations for the blockchain industry. I believe regulations is one of the missing links for this emerging technology to become mainstream. With the focus on cryptocurrencies like bitcoin, blockchain has received a lot of attention lately. But could this technology be used for more than just finance? Two bills introduced in the Washington State Senate would require state officials and lawmakers across several committees -- including those who work with information security or labor policies -to create proposals that explore how the blockchain can be used in state government's operations and digital services. Distributed digital ledger technology has gotten a lot of attention in recent years, particularly when it comes to cryptocurrency.

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OpenSea on Track for Record Month as NFT Sales Boom

COINDESK

The cryptocurrency market was on a rollercoaster this January, with one of the biggest stories being how non-fungible tokens (NFTs) have been booming. OpenSea reported their largest volume month yet and Dune Analytics data suggests that these new investment options may be keeping up from bitcoin's price slip down! On 9th alone there were record-breaking $261 million traded over at their platform, with the price of individual collections accounting for over 10% of all transactions on OpenSea - proving just what lucrative opportunities they can truly get you involved in.

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Why Ethereum is Losing Market Share

THE ECONOMIST

Public blockchains are seen as a second chance for believers to build a digital economy. Blockchains like these are considered more in line with the internet's early architects' intentions. The most significant aspect of that economy has been decentralized-finance (DeFi) apps, which allow users to exchange assets, borrow money, and save deposits. In recent years, this sector has exploded with new products and business models. Now a fierce competition for market share is emerging. AND Ethereum, the most popular DeFi platform, is gradually relinquishing its near-monopoly. The battle demonstrates that DeFi is subject to the standards wars that have erupted in other emerging technologies in the past, and it also illustrates how swiftly DeFi technology is evolving.

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Why CES Panelists Believe The Blockchain Will Benefit The Creator Economy

DIGIDAY

The Consumer Electronics Show, which just ended in Las Vegas, featured a few sessions on the blockchain after this exciting technology made so much progress last year. A large increase in consumers got their first NFTs and cryptocurrency investments while businesses consider how they can incorporate these assets into business models. There are still many issues to address in the early phases of blockchain, such as how to achieve greater mass adoption from users and what else can be done with NFTs or smart contracts. Those were some of the questions addressed at sessions like "NFT WTF" and "Creator Economy in the Context of Crypto." where I listened for about an hour before going into my own session on Emerging Trends in Blockchain Economy.

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SEC delays decisions on Bitwise and Grayscale’s Bitcoin ETFs

COINTELEGRAPH

The US Securities and Exchange Commission has extended the deadline for a second time to make a decision on Bitcoin (BTC) exchange-traded funds, as it continues its deliberation process. Bitwise and Grayscale are both awaiting approval from the SEC before announcing their ETFs. If approved, these funds will offer investors exposure to Bitcoin without having any of it themselves which could lead them toward greater profits. The SEC has confirmed that it will announce a decision on whether or not to approve Bitwise's Bitcoin ETF by February 1st. It is also expecting Grayscale bitcoin ETF for approval soon after.

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NFT marketplace OpenSea valued at more than $13bn

BBC

Following a fresh investment of $300 million, OpenSea, an NFT marketplace, claims it is now worth $13.3 billion. The platform enables the trade of non-fungible tokens, unique pieces of digital code that may be linked to a digital asset such as a piece of digital art. Many NFTs have been sold for millions of dollars. OpenSea claims that volumes on the platform exploded by 600 times last year, but some experts believe the valuation is too high. One of the cofounders at OpenSea characterized NFTs as "the fundamental building blocks" for new peer-to-peer economies. However, others claim that rapidly rising valuations reflect a lack of available investment opportunities and not necessarily innovation per se.

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Crypto scammers took a record $14 billion in 2021

CNBC

According to new data from a blockchain analytics firm, scammers scooped up a stunning $14 billion in cryptocurrency in 2021, thanks largely to the growth of decentralized finance (DeFi) platforms. Thefts and scams drove an increase in crypto-related losses of 79 percent last year. The majority of theft occurred as a result of hacking into cryptocurrency firms. The firm states that DeFi is an important component in both cases, adding to concerns over those who dabble in this budding sector of crypto. “DeFi is a very exciting part of the wider cryptocurrency ecosystem, with tremendous possibilities for both entrepreneurs and cryptocurrency users alike,” according to the report.

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JPMorgan Says Ethereum’s DeFi Dominance at Risk Due to ‘Sharding’ Delays

COINDESK

Ethereum’s dominance of decentralized finance (DeFi) is at risk as to the scaling of the network, which is needed to maintain its dominance, may arrive too late, JPMorgan said in a report. The bank's strategists wrote in the note published on Wednesday that, while progress is being made, the final stage of sharding, which is crucial for scaling the network, will not be complete until next year. The bank warned of the potential for significant losses if the Ethereum network continues to lose market share and that, while full scaling is at least a year away, the danger is that during that time, competing networks will take market share.

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Melania Trump launches NFT Platform in First Public Endeavor Since White House

BITCOIN.COM

On Thursday, the former first lady Melania Trump released a non-fungible token called "Melania's Vision" as her first public effort since leaving office. The NFT is the first digital art to be sold and released regularly on her newly established platform powered by Parler. Through this new technology-based platform, children will be taught computer skills including programming and software development to help them after they age out of foster communities. The remainder of the revenue will "assist children aging out of the foster care system by way of economic empowerment and increased access to resources needed to excel in computer science and technology," according to a press release from Trump's office.

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Goldman Sachs Says Blockchain Is Key to Metaverse and Web 3.0 Development

COINDESK

Blockchain technology is the only one that can uniquely identify virtual objects and track their ownership. Blockchain tech will establish web 3.0, with less centralized control. The metaverse, another rapidly emerging blockchain application, is an immersive digital world that combines virtual reality, augmented reality, and the internet. One of the most significant endorsements for the metaverse came when social networking behemoth Facebook announced that it will change its name to Meta in order to indicate its future direction. Blockchain has spread from the banking sector to more distributed applications. It is hard to predict the investment implications of blockchain, but companies will likely have a harder time securing user identity.

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You Can Now Hold Physical Swiss Gold on The Ethereum Blockchain

FORBES

SEBA, a Swiss Bank, has launched a digital token that allows investors to own physical gold stored in Swiss vaults. The new product from the bank is an ERC-20 token, which means it's housed and traded on the world's second-largest blockchain. This differs from traditional digital gold products, which are not kept on a blockchain and merely act as IOUs from the issuer. Blockchains like Ethereum provide a higher degree of investment security than more traditional databases because they don't require the validation of a third party. Instead, they utilize a decentralized ledger that is accessible by everyone in the network and maintains a single, indisputable record of all transactions. This is then bolstered by Ethereum's multi-party smart contracts - a layer of functionality that, for example, can verify the serial numbers of physical gold bars linked to particular digital assets.

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US Senator Urges Regulators to Clamp Down on DeFi and Stablecoins

BITCOIN.COM

Senator Elizabeth Warren is calling for regulators to clamp down on stablecoins and decentralized finance programs before it's too late. She began with tether (USDT) and USD Coin (USDC). Alexis Goldstein from the Open Markets Institute explained that stablecoins may not always be backed one-to-one as the assets backing those tokens are often not real dollars. Warren points out that Tether's own report shows only 10% of the assets backing their stablecoin to be actual dollars in a bank account, and 90% is something else. Furthermore, she stressed that the document "is not actually verified by a full audited financial statement or validated by any government regulator."

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HSBC and Wells Fargo use blockchain to settle forex trades

REUTERS

HSBC and Wells Fargo have begun using a blockchain platform to settle bilateral foreign currency (FX) trades. Baton Systems announced on Monday that two banks are using their DLT to settle FX trades using real currencies and real accounts in less than three minutes. It eliminates the need for a third-party bank. Because settlement occurs so quickly, exposure and settlement risks are substantially reduced. Last month a new blockchain-based digital trading and settlement arm launched its first debt, following the completion of the operation. Speedier settlement implies locking up costly money and liquidity for a lesser duration to mitigate the risk of a deal going wrong.

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Beyond KYC: Stricter Privacy Policies are Looming, But DeFi is Here to Stay

NASDAQ

Over the previous year, blockchain has swept the globe with its decentralized finance (DeFi) industry, which is seeing an unprecedented expansion in terms of service offerings and overall value locked (TVL). This increase in on-chain wealth generation has attracted more regulatory interest, but many regulators are equally concerned about another important asset that we've increasingly given over to the internet - our personal identities. However, while some blockchain advocates are concerned that new, stringent privacy rules will stifle or even destroy DeFi and other blockchain-based enterprises, the truth is that DeFi and future privacy regulations can coexist symbiotically.

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Next Big Etherium Upgrade Could Reduce Layer 2 Gas Fees

BEINCRYPTO

One of the network's most significant shortcomings is its high transaction costs, which a recent Ethereum Improvement Proposal (EIP) put forth by network co-founder Vitalik Buterin intends to address. Last month, Buterin introduced EIP-4488, which aims to reduce "call data," in an effort to provide some short-term respite from galloping gas fees. The primary goal of the proposal is to lower gas costs on Ethereum's expanding layer 2 scaling solution ecosystem. Ethereum developers have reacted positively to EIP-4488, which reduces the call data cost from 16 to 3 gas per byte and has a cap on call data per block to mitigate security risks.

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Non-Fungible Tokens Popularity Leads to First-Ever NFT Exchange Traded Fund from Defiance ETFs

YAHOO FINANCE

According to a study by blockchain analytics firm DappRadar, trading in NFTs rose to $10.7 billion during the third quarter of 2021, up over 700% from the previous quarter. Defiance ETFs CIO Sylvia Jablonski said that the fund was created as NFTs are "challenging paradigms of ownership, property, and value". An investor can buy or make an NFT directly with digital wallets, cryptocurrencies, and other methods. For most investors, purchasing an ETF in a trading account is quite simple. As a result, having access to the digital world of blockchain technology and NFTs is a fantastic addition to the cryptocurrency market.

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‘Decentralization illusion’: Central bank group urges regulation of DeFi crypto platforms

CNBC

The Bank for International Settlements is worried that the rapidly-growing DeFi market will undermine traditional financial institutions. DeFi is a fast-growing sector within the cryptocurrency market that promises to deliver conventional financial services such as loans and savings accounts without the need for regulated middlemen like banks. Regulators are worried that DeFi services platforms may not be as "decentralized" as they advertise themselves to be. According to BIS, decentralization can be deceptive because it creates agents with less than desirable interests.

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Crypto Conference DeFiCon 2021 to Be Hosted on December 18-19 in Brooklyn, NYC

BITCOIN.COM

The next crypto conference to light up the year is DeFiCon 2021, which takes place December 18-19 in Brooklyn, New York. DeFiCon is a nonprofit event that differs from the traditional corporate and for-profit conference model. All of DeFiCon's net proceeds will be donated to charity. As a crypto native event, DeFiCon tickets are NFTs created by the original artist of the Bored Ape Yacht Club.

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Hologram NFT at Art Basel Miami Are Trying to Save the Oceans

COINDECK

Non-fungible tokens masquerading as holograms are raising funds to save the oceans at this year's Art Basel Miami Beach. The Open Earth Foundation, a technology platform for climate action, is conducting its OceanDrop NFT sale, following its CarbonDrop NFT sale in March, which raised approximately $6.6 million. Open Earth Foundation Executive Director Martin Wainstein says the goal is to use blockchain tech to accurately account for carbon in the atmosphere and support ocean conservation. The money raised from auctioning OceanDrop NFTs will fund a new program on Cocos Island, called Open Ocean. OceanDrop is attempting to push the envelope on NFT innovation. All the digital artworks and animations in the sale will feature holograms using holographic technologies such as Portl.

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NFT-Linked ETF Is Launching as Wait for Crypto Fund Goes On

BLOOMBERG

The Defiance ETFs launched the Defiance Digital Revolution ETF (ticker NFTZ) on Thursday, which will track blockchain-related companies and non-fungible token indexes. It won't invest in cryptocurrencies directly because it's one of the first ETFs to include the growing market for NFTs. The U.S Securities and Exchange Commission allowed an ETF that holds Bitcoin futures to begin trading in October this year. Blockchain thematic ETFs have multiplied in numbers while the SEC rejected numerous applications for a spot ETF over the last several years.  According to the Defiance ETFs' senior investment officer, the NFTZ fund is a great way for investors to get access to firms involved in the resurgence of NFTs.

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Ethereum Layer 2 TVL Surges 13% To New All-Time High

BITCOINIST

Ethereum has been the dominant smart contract on the market, leading to more DApps being deployed onto Ethereum's blockchain. Ethereum has continued to grow in popularity, with TVL (Total Value Locked) continuing to rise. Layer 2 protocols are more popular than Layer 1 solutions because they offer lower transaction fees and greater benefits. As the number of users of these technologies has increased, so has the amount of money locked in them. Ethereum remains the leading DeFi platform in the crypto space, and despite blockchains like Solana and Avalanche trying to steal market share from Ethereum, continues to dominate by a wide margin.

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Monster-Sized Bitcoin Whale Transfers Significant Amounts of “Cold BTC” to Active Exchanges

BITCOIN.COM

On the first two days of December, there have been some massive bitcoin whale movements stemming from long-term bitcoin holders. Bitcoin reached a high price of $59,250 per unit but has since decreased to just over $40K. The onchain action was caught by the blockchain parsing tool Btcparser 3, which analyzes each and every new bitcoin block by getting detailed information about all transactions within it. ​​"The bot uses groups of 100 blocks and identifies all wallets that sent or received a total exceeding 1,000 bitcoins during that time", explains the parsing tool's website.

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New crypto and Blockchain Association Launches in Iran

BITCOIN.COM

In Iran, a recently formed crypto industry association has begun operations under the country's chamber of commerce. Its management aims to assist its members in overcoming difficulties while also facilitating the implementation of blockchain technology in the sanctioned economy. The Iran Blockchain and Cryptocurrency Association (IBCA) is the first organization affiliated with the Iran Chamber of Commerce, Industries, Mining, and Agriculture that deals with challenges facing Iran's growing blockchain ecosystem. The launch was announced by a member of the association’s board, Mohammad Reza Sharafi, who expressed hope that the IBCA would be able to remove hurdles faced by businesses in the crypto space and use blockchain technology in the interest of the Iranian economy.

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Federal Reserve Governor Argues Against Subjecting Stablecoins to Full Banking Regulation

BITCOIN.COM

The Federal Reserve Board Governor Christopher Waller disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets (PWG).

The PWG, in collaboration with the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC), issued a report, which calls for the imposition of bank-like regulation on stablecoins with a sense of urgency.

Waller explained that he is fine with banks being able to issue stablecoins but disagrees that only banks should be allowed to issue them. He is skeptical of the need for a central bank digital currency, claiming that there is already real and rapid innovation in the payments space.

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Blockchain to Ease Logjams as Supply Chains Ditch Paper for Digital

BLOOMBERG

The Covid-19 pandemic is speeding up a technological transformation of global trade as supply chains play catch up in shifting from paper to digital transactions.

That’s an emerging industry view as the ongoing disruptions force manufacturers, ship operators, and importers to accelerate their investments in technology to smooth out kinks, reduce delays, and ultimately cut costs.

The chief executive of a Hong Kong-based nonprofit technology consortium is using blockchain to simplify and facilitate the secure sharing of data that is needed to settle trade.

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Blockchain tech has Evolved Enough to Meet Some Demands of Financial Markets: RBC Report

CoinDesk

Blockchain technology has developed enough to satisfy the important demands of "at least certain segments in the banking and financial markets," according to a study by the Royal Bank of Canada (RBC). Blockchain delivers several value propositions: “displacing trust with honesty; real-time bilateral settlements; real-time servicing; enhanced security; automation; the ability to operate".

The bank sees high potential for disruption from blockchain in the asset-backed securities (ABS) markets, including mortgage-backed securities. While blockchain is not new, the bank observes, the technology until recently had not developed to a level that was appropriate for banking and financial markets in “terms of scale, speed, flexibility, and autonomy.”

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IRS sees crypto seizures totaling billions of dollars in 2022

Bloomberg

The Internal Revenue Service seized $3.5bn worth of cryptocurrencies in Fiscal Year 2021, which accounted for 93% of all the assets they seized that year, according to an IRS criminal investigation annual report published Thursday.

The IRS' criminal unit has seized hundreds of millions of dollars worth of Bitcoin and other virtual currencies in the past year, including $1 billion stolen from the Silk Road, an online Bitcoin exchange that was shut down in 2013. The unit also charged a former Microsoft Corp. software developer who used bitcoin to hide $10 million he had stolen from the company.

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Game-changing Freelance Strategy Leverages Blockchain Technology to Remove the middleman in B2B and B2C Engagements

COIN TELEGRAPH

Freelancers are taking more responsibility in society, but centralized platforms can take cuts of profits and make it difficult for freelancers to earn a sustainable salary.

These platforms, on the other hand, are not immune to industry-wide concerns, such as low-quality employees that businesses must learn to avoid. The freelancer's hard-earned money is at the mercy of a single authority on the side of hiring.

The blockchain, which is a decentralized network, alleviates several of these issues by allowing for faster, more effective payments that are less expensive and sometimes use smart contracts to automate processes. Existing platforms have taken advantage of blockchain features only to serve a specialized market when the issue affects so many people.

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Defi Insiders Reap Rewards And Retail Investors Get Burned, Says SEC

FORTUNE

A top SEC official raised concerns over the lack of transparency and anonymity in decentralized finance. DeFi, or decentralized finance, is a blockchain-based alternative to traditional banks, exchanges, and financial enterprises. With its increasing popularity, hacks, frauds, and thievery have all been on the rise. The SEC commissioner wrote that DeFi is about investing in speculative risks. Therefore, participants in decentralized financial markets need to have some sort of code of conduct to keep the market free from corruption. Without a common set of conduct expectations, there is the potential for fraud and self-dealing in markets.

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Treasury advances blockchain proof of concept for grant payments

FEDSCOOP

The Treasury Department is testing a blockchain proof of concept to tokenize grant payments, which would increase transparency and reduce the reporting required for National Science Foundation (NSF). The Bureau of the Fiscal Service (BFS) is working on a proof of concept. The Bureau pays grant recipients using their banking number so it knows who was paid. But what happens to the money after is harder to track increasing the reporting burden on NSF-funded research. BFS may audit everywhere that the token has been to ensure complete transparency, as well as pre-populate reports like the Federal Financial Report.

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Twitter Launches Cryptocurrency Team to Explore Bitcoin, Blockchain Uses

THE WALL STREET JOURNAL

Twitter has established a dedicated team to set the strategy for their crypto and Blockchain future. The newly formed "Twitter Crypto" group will assist the creators on the social media platform. Twitter is exploring ways to support cryptocurrencies as a way for creators to be paid, exploring how blockchain technologies can create an additional way for creators to earn a living, and leading the company’s efforts to decentralize social media. The new team will work under Twitter's CTO to explore how crypto can push the boundaries of what’s possible. Jack Dorsey, the CEO of Twitter and Square, has been a vocal proponent of cryptocurrency.

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JPMorgan Team Suggests Crypto’s DeFi Boom Slower Than It Seems

BLOOMBERG

The expansion of decentralized finance is less explosive than it seems. This year's DeFi growth rate was over 780%, owing to the price increase in Ether. The Ethereum network now maintains a 70% market share for DeFi activity, down from almost total lock at the start of the year. Regulators are concerned that the crypto lending and DeFi (distributed finance) markets may be risky and could affect mainstream financial markets. The strategists say that many hurdles exist before decentralized finance becomes mainstream. Regulators are concerned that the crypto lending and DeFi markets may be risky, and could affect mainstream financial markets.

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MachineFi: The Future Of Smart Devices, IoT And Blockchain

FORBES

A new paradigm shift in the blockchain and crypto space is happening, focusing on the decentralization of everything. MachineFi is a new concept that refers to the intersection of smart devices and finance. MachineFi is the catch-all name for the ecosystem of smart devices that are beginning to grab significant market share in the world of finance. Smart devices are now a reality, but the question is how to live with them while preserving our privacy. Blockchain is an obvious solution for protecting the privacy and delivering a more secure user experience.

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Blockchain For Climate Action Must Be On The Cop26 Agenda

LEDGER INSIGHTS

The UN's "Code Red" climate report is evidence that the world must take action on global warming. When utilized in enterprise, blockchain may help minimize energy consumption, but the environmental benefits have yet to be realized. The decentralized ledger technology may help create new levels of transparency and tracking for environmentally-impactful supply chains – supply chains that have significant social and economic consequences. Blockchain-powered applications may assist with regulatory compliance, carbon footprint reporting, and can aid in slowing climate change, but only if recognized and used promptly.

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Will the U.S. Become the Global Hub for Crypto and Blockchain?

NASDAQ

The introduction of bitcoin ETF in the U.S suggests that it could become the global center for cryptocurrencies and blockchain. The United States is a late adopter of the cryptocurrency and blockchain industry, but it may end up being more dominant than other countries owing to its large GDP. The U.S. is the largest investor in blockchain technology. Its financial system is gradually incorporating cryptocurrency into its infrastructure, making it a potential FinTech leader. The U.S should be proactive about crypto and blockchain technology in order to lead other nations in adopting them.

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Welcome to the Crypto Metaverse, Where It’s All Too Easy to Lose

BLOOMBERG

Decentralized finance is creating a half-real, half-virtual world that requires full regulation. A cryptocurrency-fueled metaverse is a realm where there are no rules or regulations. In this Wild West of virtual goods, consumers may both create and lose money, while regulators are already paying close attention to DeFi. The financial sector is now interested in the "Wild West" of decentralized finance. Rather than being disrupted, banks are attempting to embrace the new technology. The DeFi market still has a risk of financial disaster, as it is rather complex. When algorithmic management goes wrong, investors have few legal options.

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Stablecoins: The Future Of Money

MONEY WEEK

Stablecoins aren't as well-known as bitcoin, but they may become increasingly significant in the future. Stablecoins are a new type of cryptocurrency that is less prone to fluctuations than other cryptocurrencies. Because certain banks have been preventing law-abiding consumers from dealing with cryptocurrency exchanges, the crypto industry has developed a dollar coin that lives on a blockchain. A single authority has no power over digital money. However, if a firm issuing a stablecoin breaks the law, its coin's value will plummet. The underlying trend is that money is increasingly being digitized and stablecoins are becoming more popular.

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Layer-2 And Multi-Chain Defi Platforms See Record Inflows As Ethereum Fees Soar

COIN TELEGRAPH

Since October, multichain-compatible DeFi platforms have seen record inflows as investors and developers seek to avoid the Ethereum network due to soaring gas fees. Blockchain projects and investors are finding transactions to be too expensive, while layer 2 technologies have been unable to help due to clogged networks. High Ethereum transaction costs are forcing a growing number of users to use bridges to move their assets to alternative, cheaper networks. As long as the high transaction fees on the Ethereum network cannot be addressed, the trend of assets being sent to alternative blockchains will continue.

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'The Economist' Sells 'DeFi Rabbit Hole' NFT for $419,000 Worth of ETH

HYPEBEAST

The Economist has sold a one-of-one DeFi Rabbit Hole NFT of its September 18 magazine cover for $419k USD. The Economist is one of the many legacy print publications to have created NFTs. The cover features repurposed 'Alice in Wonderland' artwork. NFTs and Decentralized Finance could accelerate Blockchain acceptance in Society. "By minting and selling our own NFT, we are experiencing this first-hand,” says The Economist.

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How New Regulations From Washington Could Lead to a Blockchain Brain Drain

THE HILL

The Senate's infrastructure bill would make it very difficult for many DeFi businesses to continue operating and for individuals to invest in new cryptocurrencies. The bill shows an aversion to blockchain and crypto. Regulation is not always a negative thing; rather, Crypto regulation is an important step toward the widespread adoption of cryptocurrency. However, if Washington fails to regulate cryptocurrencies responsibly and enable US innovation in this new area, it will lose out on trillions of dollars in value.

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ETFs Are a Bad Way to Bet on Bitcoin

The WALL STREET JOURNAL

The Bitcoin ETF has drawn a large amount of investment and trading on the stock market. Institutional investors have a significant distrust of Bitcoin; the new ETF sidesteps this by purchasing bitcoin futures. Bitcoin futures are more expensive than Bitcoin itself. The SEC has been requested to allow the creation of an ETF that would invest in Bitcoin, rather than bitcoin futures, to strip out the layers of arbitrage and gambling created by using futures. “Bitcoin is risky and it may be safer to buy bitcoin through an exchange with less risk”, says ProShare, the company behind Bitcoin ETF.

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NFTs and Decentralized Social Could Usher in Societal Adoption of Blockchain

ROLLING STONE

Blockchain technology has been misunderstood by the general public, which is only informed about it through its cryptocurrency element. The myth of distributed ledger technology is that it promotes illegal transactions. The popularity of NFTs and other blockchain initiatives has encouraged wider usage. NFTs' practically free-to-play nature makes them an excellent method to get people interested in blockchain technology. Customers will be more open to Blockchain if the sector focuses on more relatable applications rather than ones that add complexity.

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The Evolution of Ethereum’s Monetary Policy

COIN DESK

Ethereum has transitioned to proof-of-stake and has a new model to predict the circulating supply of ether. In Ethereum, ether is distributed as a reward for producing blocks and will be used to reward validators. The Ethereum blockchain is looking to incentivize enough validators to properly secure the network, potentially decreasing the ether supply. Ethereum is doing well with it's new changes, and has created what ether holders call "Ultra Sound Money". Alternative layer 1s like Ethereum are growing in popularity, but there is more room for growth on the second layer - systems that work on top of Ethereum.

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