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Showing posts from July 23, 2021

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Central Bank of Colombia Announces First Blockchain Bond Pilot Program

The Central Bank of Colombia has announced its involvement in the first blockchain bond pilot program in the country, with the participation of the Interamerican Development Bank (IDB) and Davivienda, a private commercial bank. The proof of concept will use the Lacchain blockchain platform developed by the IDB, which will handle the operative part of the issuance. Central Bank of Colombia Joins Blockchain Bond Pilot Program The Central Bank of Colombia has announced its participation in the first blockchain bond program in the country. Issued by Davivienda, one of the most important commercial banks in Colombia, and with counseling from the Interamerican Development Bank (IDB), this pilot program seeks to explore the benefits of the new technology and study its application for the next bond issuances. According to the official announcement from the Central Bank of Colombia, these benefits would include the potential reduction of operational costs, the optimization of process times...
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64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report

As central bank digital currencies (CBDCs) advance in testing, a number of countries have taken the lead in an effort to create a CBDC. The enterprise blockchain firm Guardtime recently conducted a survey that shows adults from ten different countries would likely use a CBDC. Nearly two out of three respondents said they would likely use a CBDC after launch and most of the study’s participants believe a major CBDC will be launched within three years. 63% of Survey Respondents Would Leverage a CBDC if Launched, 33% Would Be ‘Very Likely’ to Use a CBDC The enterprise blockchain firm founded by Christopher Leiter and Mike Gault, Guardtime has recently conducted a survey throughout ten major economic regions throughout Europe, United Arab Emirates, Asia, and North America. The study has found that out of all the surveyed participants, 64% said they would “likely” leverage a CBDC if their country happened to launch one. 33% of respondents said they were “very likely” to utilize a CBDC if...
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Chinese Miners Pivot to Alternative Currencies to Keep Operating

The Chinese mining crackdown forced many miners to stop their operations and relocate. But another group of miners is planning to pivot to new, more efficient mining schemes to keep operating in the country. Lesser-known tokens and proof-of-stake-based systems are now in the sights of these miners as ways to continue their work away from government oversight. Chinese Miners Pivoting to Other Crypto Activities The recent mining and trading crackdown in China affected the lives of thousands of miners that had to stop their operations due to new policies established by the government. While a lot of them are seeking to relocate to other countries, there is also a group seeking to pivot to new alternatives to keep operating in the country. The new wave of storage-based tokens is one of the biggest focuses of this group. Bloomberg confirmed this, present at the Web 3.0 Blockchain Application Cum Computing Power Overseas and Distributed Storage Conference in Chengdu — one of the first ...
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Report: Nigeria to Start Piloting Digital Currency in October

The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency project, or the “e-naira,” is expected to use the Hyperledger Fabric blockchain. CBDC Comes to Life The revelation of the launch date for Nigeria’s central bank digital currency (CBDC) comes just a few months after central bank governor, Godwin Emefiele, said the digital currency will soon “come to life.” It also comes after the CBN suggested in June that Nigeria would have its own CBDC by the end of the year. With this revelation — when confirmed officially — Nigeria will become the second West African nation to announce the pilot phase of its own digital currency in 2021. As previously reported by Bitcoin.com News, the Bank of Ghana is the other country from the region to announce a start date for its digital currency project. Culmination of a Long-Running Study As the Nairametrics report quo...
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Just HODL! Bitcoin and Ethereum outperform ‘lower risk’ crypto index funds

Data from Delphi Digital shows holding BTC and ETH was more profitable than investing in weighted average market cap crypto and DeFi index funds. In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss.  Since 2018, this trend has extended to the crypto sector and products like the Bitwise 10 Large Cap Crypto Index (BITX) tracks the total return of Bitcoin ( BTC ), Ether ( ETH ), Cardano ( ADA ), Bitcoin Cash ( BCH ), Litecoin ( LTC ), Solana (SOL), Chainlink (LINK), Polygon (MATIC), Stellar ( XLM ) and Uniswap (UNI). The ability to access multiple top projects through one weighted average market cap index sounds like a great way to spread out risk and gain exposure to a wider range of assets, but do these products offer investors a better return in terms of prof...
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French Central Bank Conducts Fifth Experiment on Tunisia CBDC

The French central bank, Banque de France (BOF), recently carried out its fifth experiment on the Central Bank of Tunisia (CBT)’s central bank digital currency (CBDC). According to a statement from BOF, the latest experiment is part of the banks’ joint effort to create conditions that are “conducive to a better inclusion of the Tunisian diaspora in Europe.” Platform Targets Tunisian Diaspora In his comments following the experiment, Mohamed Sadraoui, a director-general at CBT, suggested that the CBDC platform’s success will likely “reinforce transparency, speed and cost savings” for users. He went on: The success of this experiment is an opportunity to start thinking about the deployment of alternative channels for cross-border transfers initiated by the Tunisian community in Europe to Tunisia. As a press statement explained, this experiment involved the simulation on a private blockchain of the issuance and settlement of unlisted securities and of the settlement of listed secu...
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Altcoin roundup: Crypto credit cards could be the missing link to mass adoption

Hodling is nice, but eventually, everyone wants to buy something. This is why crypto debit and credit cards are key to mass adoption. Out of the many routes available to the mass adoption of cryptocurrencies, which includes decentralized finance (DeFi), layer-one protocols , nonfungible tokens and stablecoins , perhaps the simplest and most applicable path for the public at large is the ability to utilize cryptocurrency for everyday purchases with an integrated debit or credit card. 2021 has seen a growing number of companies offer cryptocurrency-based credit cards that give holders the chance to tap into the value of their cryptocurrencies for daily purchases, but is this just the latest gimmick being used by businesses to earn a buck or a real sign of mass adoption? While the traditional financial sector isn’t discussed much in this newsletter because its focus is on exploring the various sub-sectors of the cryptocurrency ecosystem, crypto assets are quickly becoming a new inves...
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Weekly roundup: Ark Invest, Edge Wealth Management, and Rothschild Investment accumulate crypto

Cathie Wood's Ark Invest purchased more than 450,000 GBTC shares in two separate buys this week. As the price of Bitcoin returned to more than $32,000 this week, some major firms announced they had increased their exposure to cryptocurrencies through Grayscale’s crypto trusts. According to a Friday filing with the U.S. Securities and Exchange Commission, or SEC, New York-based investment firm Edge Wealth Management currently holds 54,134 shares of Grayscale’s Bitcoin Trust (GBTC), valued at $27.13 at the time of publication, and 25,280 shares of the company’s Ethereum Trust (ETHE). The crypto holdings are worth almost $2 million at $1,468,655 and $466,668, respectively, roughly 0.3% of the $703 million total assets under management the company reported on Feb. 2. Grayscale’s crypto trusts are not new investment opportunities for Edge. The investment firm held 37,605 GBTC and 17,300 ETHE shares in April, representing increases of 44% and 46%, respectively. Some institutions’ e...
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Rangers Protocol launches Ethereum Virtual Machine-compatible testnet

The project is branding its testnet as useful to “new developers without blockchain background knowledge." The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract interoperability. In a Friday announcement, the Rangers Protocol said it had successfully migrated its first Dapp to the testnet which went live on July 19. The project migrated an Ethereum-based lending protocol, BlueStone, to the testnet, a move the protocol described as “smooth and developer-friendly” given Rangers’ Ethereum Virtual Machine, or EVM, compatibility. Though there are seemingly alternative solutions utilizing blockchain technology friendly to Solidity developers, Rangers Protocol is branding its testnet as useful to “new developers without blockchain background knowledge.” Individuals interested in building using the protocol will reportedly have an easier time creating nonfungible tokens, or NFTs, as wel...
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Binance Is Hunting for a New CEO — Exchange’s US Venture ‘Looks at Potential IPO Route’

Binance CEO Changpeng “CZ” Zhao has explained in a recent interview that the company is looking to launch a U.S.-based initial public offering (IPO) in the future. The crypto exchange has been stuck in regulatory crosshairs during the last few weeks and has had issues with payment providers. CZ also noted during his interview that the firm was looking for a new chief executive officer with a “very strong regulatory background.” Binance Cheif Executive Says Company Is Looking for a New CEO At the blockchain virtual summit Redefine 2021, Binance CEO Changpeng “CZ” Zhao discussed some of the company’s regulatory problems and the possibility of a future U.S.-based IPO. Binance has had issues with the UK’s Financial Conduct Authority (FCA) when the regulator issued a consumer warning against the crypto trading platform. Besides the UK, Binance has received warnings from Italy , Lithuania , Thailand , Japan , Ontario , and South Africa . Payment providers like Visa and Mastercard are m...
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Coin98 gains 1,200% after Binance listing, Ampleforth soars on Aave integration

C98 rallied 1,200% from its ICO price shortly after listing on Binance and AMPL shot higher after the project integrated with AAVE. Few things in the cryptocurrency space generate more hype than a new token listing because the prospect of finding a rare 1000x coin continues to be a top goal of many crypto investors.  Coin98 (C98) is the most recent example of this phenomenon after the Binance Smart Chain-based decentralized finance (DeFi) solution rallied 1,200% from its initial coin offering price at $0.075 to $0.928 on its first day being listed on exchanges. Coin98 Binance Launchpad subscription has been completed. Please wait for @binance to send C98 and BNB to your spot wallet. How many C98 tokens did you receive? #Coin98 #C98 $C98 pic.twitter.com/W4QVYMy8ga — Coin98 Insights (@Coin98Insights) July 23, 2021 Coin98 is the 20th project to come out of the Binance Launchpad and describes itself as “a DeFi gateway for traditional finance users to access any DeFi serv...
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El Salvadorians take to the streets to protest Bitcoin law

Those who marched against Bitcoin this week claimed the cryptocurrency was too volatile and would allow businesses to "launder ill-gotten money." Protesters calling themselves the Popular Resistance and Rebellion Block have come out against El Salvador’s government passing a law making Bitcoin legal tender. A Tuesday tweet from local news outlet El Mundo shows El Salvadorians carrying banners saying “no to Bitcoin” in the streets of San Salvador demanding a repeal of the country's Bitcoin law. Legislative assembly members Anabel Belloso and Dina Argueta addressed the protesters after first meeting the group separated by a barrier of razor wire. RT @SusanaPenate : Miembros del Bloque de Resistencia y Rebeldía Popular llegaron a presentar una propuesta de derogar la Ley Bitcoin. Salen a recibirlos Dina Argueta y Anabel Belloso pic.twitter.com/CXFLDW4tsr — Diario El Mundo (@ElMundoSV) July 20, 2021 In a letter made available at the protest, the Popular Resistance an...
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