Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Reach of Digital Bytes: who reads and listens to it? - with Digital Bytes’ editor, Jonny Fry, having recently won ‘Influencer of the Year’ at the London Crypto AM summit and awards event, a number of people have been asking how they can write an article in the publication or have a podcast made for their company. It’s not our usual practice to promote goods or services, but hopefully this insight into both what the team does and the broad reach of the written and audio versions of Digital Bytes will prove to be helpful. It is also opportune here to thank all those who suggest topics for us to research and for your encouragement and positive feedback.

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Blockchain oracles - the separation of off-chain and on-chain data is one of the trickiest aspects of running a blockchain. Oracles are helpful tools that facilitate the integration of off-chain data with blockchain operations. They provide consumers with limitless options for incorporating blockchains into their daily lives.

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Key messages and lessons from London Crypto AM 2022 summit and awards event - speakers and attendees assembled last week at a summit and awards event to discuss recent developments around blockchain technology and digital assets. Adoption of digital assets is growing and the use of blockchain technology challenges still remain, not least around the need for legislative clarity so that regulators in each jurisdiction have certainty as to which assets they as regulators are responsible to monitor.

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A warning from one of the earliest Bitcoiners - central bank-issued digital currencies are solving a problem no one has and are giving governments a huge list of unchecked new powers. These are being ushered in without question under the guise of helping the poor and being more inclusionary, but they could be the exact opposite; they could be a mass control grid of limitless power. Here we will talk about some of the problems and some of the solutions people are building to compete with CBDC’s.

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The institutionalisation of DeFi is progressing despite the depressed crypto markets. But is the implementation of DeFi concepts to CeFi systems with central governance the right approach? Regardless of the answer, applying DeFi-protocols to CeFi can certainly help to innovate it. The institutionalisation of DeFi is not only driven by major international financial institutions and asset managers but also boutique-size firms supported by regulators and industry associations. A case in point is the huge potential in private market assets. Alternative investing platforms that open access to non-traditional assets for retail investors will have a transformative impact on both retail and institutional investing.

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

The potential role of blockchains in capital markets - to facilitate the massive cross-border movement of capital, capital markets have evolved into a worldwide linked web of banks and intermediaries. Regulation, technology-led market disruption and basic business economics are transforming the capital markets. Blockchain could potentially eliminate intermediaries in capital markets, and so improve the efficiency of the market infrastructure.

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Blockchain and cryptography - cryptography enables a blockchain to be secure since transactions are time stamped and recorded, typically in a decentralised manner using encrypted data. Blockchain is one of the more innovative technologies combining consensus mechanisms, peer-to-peer transmission, distributed data storage, digital encryption technology and other computing technologies.

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Are crypto legal clarifications required to enable regulators to do their job? - arguably, regulators need to have legal definitions and guidance in order to know how and even when they need to oversee the trading and issuance of digital assets. Digital securities are relatively straight forward and will need to broadly follow existing securities law. But as for digital assets such as crypto tokens and NFTs the legislation and thus the regulations are far from clear in many jurisdictions.

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The ‘great convergence’: the encroachment of DeFi into CeFi - the institutionalisation of DeFi is progressing despite the depressed crypto markets. But is the implementation of DeFi concepts to CeFi systems with central governance the right approach? Regardless of the answer, applying DeFi-protocols to CeFi can certainly help to innovate it. The institutionalisation of DeFi is not only driven by major international financial institutions and asset managers but also boutique-size firms supported by regulators and industry associations. A case in point is the huge potential in private market assets. Alternative investing platforms that open access to non-traditional assets for retail investors will have a transformative impact on both retail and institutional investing.

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City A.M., a daily newspaper and online publication based in London, has announced nominations for its 2022 awards. A number of our previous guest writers have been selected as nominees in recognition of their work and contributions, including The Digital Pound Foundation, GMEX, The Realisation Group, Outlook Ventures, Copper and Swarm. Jonny Fry, founder of Digital Bytes, has also been nominated for the ‘Influencer of the Year’ award – so, fingers crossed!

Sheldon Dearr with Jonny Fry and James Tylee from Team Blockchain. Blockchains and other financial technologies live in misunderstood polarity. They need each other, they depend on similar money-transmitter laws, but they're culturally at odds. Will differences shrink or grow over time, and why?

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Will digital currencies wax and wane as ISO 20022 is adopted? - the introduction of ISO 20022 in March 2023 will be a huge upgrade for the way in which financial institutions will be able to exchange information about payments. ISO 20022 will allow much more structured data to be shared - upgrading SWIFT’s forty year old messaging system and potentially giving fiat currencies the ability to compete with CBDCs and other digital currencies. Alternatively, will ISO 20022 enable cryptocurrencies, fintech companies and potentially TradFi firms to create their own ISO-compliant digital currencies and provide a range of new value-added services to rival the incumbent banks and payment providers?

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Blockchains cut the cost of international trade - with the multiple advantages of digitising trade documents already clear, several countries and industries are adopting digital solutions in their ports. In the UK, the Electronic Trade Documents Bill was introduced this year, designed to put digital trade documents on the same legal footing as paper-based copies.

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DAOs in the financial services sector - the financial industry has long suffered at the hands of the traditional banking system, which produces a variety of disadvantages for customers. A decentralised autonomous organisation (DAO) is a blockchain-based organisation that functions independently of any central leadership or boards of directors. In contrast to decentralised finance (DeFi), which uses blockchains to replace trusted third parties in banking, lending, investing and other financial transactions, DAOs transfer some, or all, decision-making power in a highly transparent manner whereby laying out the rules for all to see and codifying decision-making by using technology such as smart contracts.

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As two neo-money industries are revving up: can fintech and blockchain co-exist? - blockchains and other financial technologies live in misunderstood polarity. They need each other, they depend on similar money-transmitter laws, but they're culturally at odds. Will differences shrink or grow over time, and why?

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Decentralised autonomous organisations (DAOs) provide a novel way of governing by using smart contracts that automate voting in a trustless and transparent way. However, in many DAOs the voting power is overly concentrated to just a few members. We examine the reasons and consequences of concentration, together with the governance trade-offs that DAOs face.

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Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Could the greenback from Uncle Sam be replaced by a ‘green-backed’ digital currency? - for over 100 years the US$ has been the world’s reserve currency. Whilst its demise has been heralded many times, as with all things at some time it will be replaced. But, by what? Will Brazil, Russia, India, China and South Africa (BRICS) create their own digital unit of exchange or, arguably, could we see the most pressing issue of our time - climate change - usher in a ‘green-backed’ digital currency?

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What exactly is Web 3.0? - open protocols developed the internet and undoubtedly its evolution has been remarkable. Web 1.0 paved the way for many of the internet's essential assets and platforms, the second generation of the web, branded Web 2.0, witnessed the growth of centralised systems allowed by closed protocols and the decentralised web, or Web 3.0, is a hot topic. One of the most significant components of Web 3.0 is the importance of the best use cases.

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CBDCs: the good, the bad and the ugly - central bank digital currencies have a tendency to polarise people, in that some are supportive of this new form of digital currency whilst others are outright hostile. There are grave concerns that a CBDC is a charter to undermine personal privacy, since those who run and control CBDCs could have the power to monitor who is spending what, where and with whom. The promise of a tool to help counter the shadow economy and reach out to the unbanked does indeed hold attractions - but at what cost?

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DAOs and the centralisation of voting power - decentralised autonomous organisations (DAOs) provide a novel way of governing by using smart contracts that automate voting in a trustless and transparent way. However, in many DAOs the voting power is overly concentrated to just a few members. We examine the reasons and consequences of concentration, together with the governance trade-offs that DAOs face.

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Non-fungible Tokens Course Offer:

Having been continually asked for our thoughts on NFTs, we have decided to create a series of short videos and roll them into a course so as to help people have a better understanding about these tokens

Click here to access it. As a subscriber to Digital Bytes, you can save 20% on our new NFT course. Normally $39.98 but using the discount code DBYTES20 you can get it for $31.98

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Is the digitalisation of $100trillion of assets a lifeline for traditional stock exchanges? - the asset management industry is beginning to understand the benefits of digitalisation and is offering digital funds to investors. The underlying funds remain the same but are made available in a digital wrapper. These new digital funds enable greater transparency, stronger risk management and compliance controls as well as enabling some funds to be sold to new investors. Whilst being quoted on a variety of new digital exchanges, digital funds also offer a huge market for existing stock exchanges.

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How blockchain is changing the recruitment process - although the digital transformation that accompanied the pandemic hasn't had a significant effect on resume screening, modern solutions are facilitating recruitment processes and making them faster, easier and more efficient. Blockchain technology is being used to collate, manage and store CVs with some firms already using the metaverse to help recruit new staff.

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How blockchains are supporting renewable and fossil fuel producers of energy - the integration of a large power generation capacity from renewable sources is only one example of how the energy transition might benefit from blockchain technology's potential for managing complexity. Blockchains are also being used by major petrochemical companies to help improve the trading of oil and gas products, supply chains as well as overall efficiency.

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Nine myths about blockchain - adoption of blockchain/Web3 continues to be restrained by a number of myths and by conventional wisdom. ‘Who, what, and when’ have held back ‘why’ as to what should be the primary driver of this discussion. And when we get to ‘why,’ it also takes us down the ‘coopetition’ path, meaning that for blockchain/Web3 to scale it will take a global village working together in a pro-competitive effort – for the benefit of all. It is not about where we compete - it is about where we can agree.

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Non-fungible Tokens Course Offer:

Having been continually asked for our thoughts on NFTs, we have decided to create a series of short videos and roll them into a course so as to help people have a better understanding about these tokens

Click here to access it. As a subscriber to Digital Bytes, you can save 20% on our new NFT course. Normally $39.98 but using the discount code DBYTES20 you can get it for $31.98

Click below to listen to the latest Digital Bytes Show on Cyber.FM

Digital Bytes Show

Adoption of blockchain/Web3 continues to be restrained by a number of myths and by conventional wisdom. ‘Who, what, and when’ have held back ‘why’ as to what should be the primary driver of this discussion. And when we get to ‘why,’ it also takes us down the ‘coopetition’ path, meaning that for blockchain/Web3 to scale it will take a global village working together in a pro-competitive effort – for the benefit of all. It is not about where we compete - it is about where we can agree.

Full Article Here

How many of us check any email recipients’ physical addresses before hitting the send button? Whether they are in Mogadishu or Mexico City or Miami, as long as the recipients are connected to the internet, they’ll receive your message. Now imagine that same frictionless protocol applied to value - not just currency, but assets and information. Just as the internet up-ended government control over communication and information, blockchain technology will revolutionise ownership.