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What is CeDeFi, and why does it matter?
For a while now, financial systems have been split into centralized finance (CeFi) and decentralized finance (DeFi). CeFi is a traditional, bank-enabled finance system, while DeFi is based on cryptocurrencies and smart contracts.
However, a new system, "CeDeFi," a combination of centralized and decentralized finance, has emerged and is gaining traction. So, what is CeDeFi, and how does it work?
CeDeFi offers the same features as DeFi protocols while being centralized, allowing people to access DeFi products like decentralized exchanges (DEXs), liquidity aggregators, yield farming tools and lending protocols — yet still leveraging the advantages of CeFi systems.
Unlike DeFi, which is permissionless and available for use by anyone, CeDeFi projects lean more toward centralization. They are often governed by a single or small group of entities, which allows them more control (similar to a CeFi).
Overall, the CeDeFi ecosystem, which is a hybrid of the centralized and decentralized models, aims to improve the traditional cryptocurrency model to allow for faster transactions, improved security, a larger transaction volume and comparatively lower fees than traditional systems. Read More
Former Goldman Sachs banker explains why Wall Street gets Bitcoin wrong
According to John Haar, who used to count himself within the ranks of the traditional finance field, a fundamental understanding of “sound money” is preventing Wall Street from embracing Bitcoin.
John Haar, a former asset manager at financial institution Goldman Sachs believes the lack of support from “legacy finance” for Bitcoin (BTC) stems from a poor understanding of the cryptocurrency.
Haar’s views were expressed in an essay on Sunday, which was originally sent to private clients of Bitcoin brokerage platform Swan Bitcoin. Haar previously spent 13 years at Wall Street asset management giant Goldman Sachs, before joining Swan Bitcoin as managing director of Private Client Services in April 2022.
The essay explains that not only do people in “legacy finance” fail to understand what he considers one of Bitcoin’s primary principles, but the idea of sound money is also lost on them in general, which Haar says leads them to negative opinions about the crypto:
“After many conversations, I can say that if there are people in legacy finance who have a well-researched stance on why Bitcoin is not a good form of money or why Bitcoin will not succeed, I was not able to find them.”
Haar noted that he became interested in Bitcoin in 2017 based on the hype he saw in traditional media about it.
He believes that the history and fundamentals of Bitcoin made him excited to discuss it with anyone, adding that Bitcoin “improves upon gold's shortcomings.” Read More
Crypto.com Earns Regulatory Approval to Operate in the UK
Crypto.com’s approval allows the exchange to offer services to UK customers in compliance with local laws and regulations.
Crypto.com today announced regulatory approval from the UK’s Financial Conduct Authority (FCA) to act as a crypto business.
According to the FCA filing, the exchange is registered under FORIS DAX UK LIMITED. With this approval in hand, the firm also meets local anti-money laundering (AML) regulations.
Kris Marszalek, CEO and co-founder of Crypto.com, said in the official announcement: “We are committed to the UK market and we look forward to developing our platform and presence in the UK further by expanding our offering to customers, while continuing to work with regulators.”
Despite making inroads into the UK, the crypto firm has also had to execute hefty layoffs amid the latest downturn. In June, the firm announced cuts of 5%, or roughly 260 individuals, citing market conditions.
Yesterday, however, a Crypto.com employee in a managerial role whose identity has been confirmed by Decrypt, spoke under condition of anonymity to explain that another round of cuts was also expected. Read More
Ripple, SBI Remit Join Hands to Enable Real-Time Payments Between Japan and Thailand
Talking about its growing footprints in Asia-Pacific, Ripple said it’s possible due to progressive crypto regulations and business innovations.
Japan’s SBI Remit will use RippleNet Technology to enable instant money transfers between Japan and Thailand.
The new partnership also brings Thailand’s Siam Commercial Bank (SCB) on board, Ripple said in a PR on Tuesday.
As part of the arrangement, both SBI Remit and SCB will use Ripple’s enterprise blockchain solution RippleNet to process real-time remittance services. Right now, Thai recipients use local agents to retrieve cash sent by their relatives in Japan.
“This makes it possible for 47,000 Thai nationals living in Japan to send money home faster. SBI Remit’s customers can use ATMs to instantly send money in JPY to a recipient’s SCB savings account in Thailand and receive funds in THB within seconds,” Ripple said in its PR.
Announcing the news of the new partnership on Twitter, Ripple underlined progressive crypto regulation and business innovations in Asia-Pacific as significant contributors to the growth of the company in this market.
“It is our duty to continuously search for superior technological solutions to deliver ever improving remittance services for our customers. With the steady rise of remittance flows, we see Ripple helping us open up new revenue potential for our business and a better overall experience for our customers,” Nobuo Ando, Representative Director at SBI Remit, said on the development. Read More
HVC is poised to triumph in the crypto economy.
Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind.
Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Premium Upgrade.
The many domains Markethive has and its autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agenda. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.
In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world.
The video platform, conference rooms, the unique four specific news feeds currently in development, and many other projects and incentives add to the credibility and need for an ecosystem in the social media and digital marketing space. Read More
BNB Chain aims to raise 30K new Web3 developers across Latin America in 2022
BNB Chain prepares to launch a Web3 development course for Latin American students as the region continues to be a hub for adoption and crypto-related activity.
BNB Chain, a blockchain network created by crypto exchange Binance, and Latin America-focused education platform Platzi announced that they will be launching a Web3 development course for the region.
By the end of the year, the course aims to be accessible to 30,000 students. Gwendolyn Regina, investment director at BNB Chain, told Cointelegraph that this course focuses on growing the skills of developers.
“This is going to be the major educational resource available in Spanish for Web2 developers to build on Web3 with BNB Chain.”
This development is an effort to push for wider adoption of blockchain technology and Web3 education in the region. Generally, the greatest barriers to entry into the industry are accessibility and education, along with unclear regulations from local governments.
Even among those who have already purchased crypto, the understanding of how the technology works are often misunderstood. According to a survey from the Motley Fool, nearly 10% of respondents who own crypto said they don’t understand how it actually works. Read More
Monero Outperforms After Successful Hardfork
Monero has deployed a non-contentious hardfork to enhance privacy features.
XMR saw its price increase by 6.5% following the network upgrade.
The token has yet to overcome resistance to trigger a bullish breakout.
Monero went through a network upgrade this weekend to boost its privacy and security features. Investors appear to have welcomed the news, as XMR has seen a 6.5% price increase over the past few hours.
Monero Enhances Privacy Features:
Popular privacy coin Monero has surged nearly 6.5% after the network underwent a hardfork to introduce new security features over the weekend.
Monero went through a non-contentious network upgrade at block 2,688,888, which was executed on August 13. The hardfork increased the blockchain’s ring size from 11 to 16, creating a new signature to authorize transactions. It also included changes to the “Bulletproofs” algorithm, aiming to increase transaction speed, reduce wallet sync times, and change network fees.
“Multisig means that a transaction needs multiple signatures before it can be submitted to the Monero network and executed. Instead of one Monero wallet creating, signing, and submitting transactions all on its own, you will have a whole group of wallets and collaboration between them to transact,” the announcement reads. Read More
What to Expect on Coinbase and Other Crypto Exchanges During the Ethereum Merge
Coinbase and other crypto exchanges are pausing Ethereum and ERC-20 withdrawals and deposits during the merge. Here's why, and what it means.
With the highly anticipated Ethereum merge happening next month—and the blockchain moving from proof of work to proof of stake—the biggest crypto companies are now beginning to announce what the experience will look like for retail investors.
Coinbase will temporarily pause Ethereum and ERC-20 token deposits and withdrawals during the merge, the exchange announced Tuesday.
The pause is a precautionary measure, Coinbase said in a blog post, with the downtime allowing the exchange to “ensure that the transition has been successfully reflected by our systems.” The “merge” refers to a significant protocol update that will see the Ethereum mainnet combined with the proof-of-stake beacon chain, completing the network’s transition to proof of stake.
“Pausing deposits and withdrawals during an asset upgrade is standard operating procedure,” a Coinbase representative told Decrypt via email.
Indeed, Coinbase and other crypto exchanges have paused deposits and withdrawals in the past when blockchain networks underwent major changes. For example, in 2017, Coinbase paused activity during the Bitcoin and Bitcoin Cash split. The exchange did so again in 2018 and 2020 when Bitcoin Cash experienced subsequent hard forks. Read More
Multichain Announces a Partnership With Step Network
Multichain recently announced an integration with Step Network to help the newly introduced blockchain gain exposure. The development allows the network to interact with BNB Chain, Ethereum, and ten more leading chains.
Supported by personalities like Usain Bolt and other global corporations, Step Network recently entered the blockchain arena. Since then, the network has established several partnerships to gain global exposure.
Now, it allows users to bridge seven assets that include BUSD, USDC, BNB, WBTC, USDT, ETH, and DAI. Other than that, users can transfer FITFI between Avalanche and Step Network. The integration will also make it easier for users to release assets on the Step blockchain, offering them immediate access to Step products.
Additionally, it will unlock unmatched DeFi possibilities for developers due to its ease of onboarding protocols. The timing is impeccable for Step Network as it is getting ready to deploy a decentralized core exchange called StepEx at August end. Read More
Gala Is Partnering With Stick Figure Productions To Distribute Four Down on the Blockchain
By adding film alongside its successful music and games platforms, Gala is also able to offer an interoperable ecosystem where fans can benefit from crossover content.
Gala, one of the leading innovators in blockchain gaming and music, has announced the launch of Gala Film. This new vertical from the world-leading Web3 company continues the brand’s commitment to providing fans with unique opportunities to enrich their experiences coupled with amazing programming and exciting projects.
The core benefit of Gala Film is its ability to offer a ‘Watch and Earn’ mechanic through the same blockchain technology that underpins Gala Music’s ‘Listen and Earn’ ecosystem, offering fans ways to earn rewards through nodes and NFTs. With Gala Film, fans now have the power to actively participate in the content they consume, take control of their entertainment through digital ownership and support new projects by voting on script choices or casting. Filmmakers and artists can also reclaim their creative license through a deeper connection with their audiences and the ability to distribute their content directly to the people that want to watch it.
By adding film alongside its successful music and games platforms, the company is also able to offer an interoperable ecosystem where fans can benefit from crossover content. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
