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Expobank Issues First Tokenized Diamond Offering in Russia
Expobank, a large financial institution in Russia, has reportedly issued the first tokenized diamond offering in the country. According to local media, Expobank used the Multichain blockchain platform to issue these tokens, with each one of them having the value of 1/5,000 of a diamond, democratizing access to these investments in gemstones for small investors.
Expobank, a financial institution with more than 50 offices in Russia, has entered the market of gemstone tokenization. The bank recently issued the first tokenized diamonds in the Russian market using the Multichain blockchain, intending to democratize the gemstone market and allow small investors to enter these investment opportunities.
The tokens were issued for a three-carat diamond with a value of 9 million rubles ($97,500). Expobank issued 5,000 tokens for the diamonds, each with a price of 1/5000 of the total, leaving each token costing less than $20. Read More
End of Line for BSV on Coinbase, Exchange to Delist Crypto in January 2024
Coinbase has announced it will be removing bitcoinsv (BSV) from its platform, having informed its clientele through an email notification. BSV, which was created following a hard fork from the Bitcoin Cash protocol on November 15, 2018, will no longer be hosted on Coinbase’s services after January 9, 2024. Customers are advised by Coinbase to transfer their BSV holdings before the termination of its listing on the mentioned date.
In 2024, the digital currency bitcoinsv (BSV) will be phased out of Coinbase’s roster of supported cryptocurrencies. The San Francisco-based Coinbase states that the delisting will take effect on January 9, 2024. Post-delisting, a “liquidation” and “conversion” process will take place, with Coinbase cautioning customers about potential tax obligations resulting from this action. Withdrawals are permitted until the deadline, providing BSV investors with a 63-day window to finalize their decisions. Read More
NEAR and Polygon Partner to Launch zkWASM
The NEAR Foundation and Polygon Labs have announced a collaborative effort to develop a zero-knowledge (ZK) prover for Web Assembly (WASM) blockchains. This initiative, termed "zkWASM," is poised to bridge the gap between WASM-based chains and the Ethereum ecosystem, as revealed in a joint announcement on November 8, 2023.
zkWASM stands as a revolutionary prover in the realm of blockchain technology. It aims to enable WASM-based networks to integrate seamlessly into the Polygon ecosystem, marking their first-ever participation. The primary motivation behind the creation of WASM, a binary instruction format, was web browsers. However, its utility has expanded to potentially serve as a compute engine for blockchain networks, offering an alternative to the Ethereum Virtual Machine (EVM).
The integration of zkWASM into Polygon's Chain Development Kit (CDK) is a pivotal aspect of this collaboration. The CDK empowers developers with tools to create customized blockchain networks based on their specific needs. With the inclusion of zkWASM, developers will gain the capability to design WASM networks and incorporate them into the broader Polygon ecosystem, which includes the Ethereum mainnet itself. Read More
Institute for blockchain and crypto research opens in France
The Institute of Crypto-Assets held a formal opening at the Léonard de Vinci Centre in the business district just outside of Paris.
On Nov. 8, the first-of-its-kind Institute of Crypto-Assets held a formal opening at the Léonard de Vinci Centre in the business district just outside of Paris.
The institute will support and conduct research related to blockchain technology and cryptocurrencies. Its scientific board includes 11 experts from major French educational institutions, such as the National Center for Scientific Research and École Polytechnique. A committee of six practitioners, including Ledger co-founder Nicolas Bacca, and Paymium founder Pierre Noizat will also oversee the work of the institute.
According to Cyril Grunspan, the director of the institute, it will focus primarily on educational goals:
“Our goal is not to lobby but to create a forum for discussion on cryptoassets.” Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all. Read More
Can crypto Privacy Pools help balance privacy and regulation?
When it comes to privacy and regulation, could Vitalik Buterin’s Privacy Pools be the answer?
Ethereum co-founder Vitalik Buterin recently authored a research paper, the primary focus of which was integrating privacy features into blockchain transactions while ensuring compliance with a range of regulatory requirements.
Experts from various backgrounds collaborated on this research project, including early Tornado Cash contributor Ameen Soleimani, Chainalysis chief scientist Jacob Illum, and researchers from the University of Basel.
The diverse team reflects the interdisciplinary nature of the research, drawing insights from cryptocurrency, blockchain security and academic scholarship.
The paper suggests a protocol known as “Privacy Pools,” which can act as a regulation-compliant tool aimed at improving the confidentiality of user transactions. Read More
Ripple Strikes New Partnership To Enable Cross-Border Payments Between UK, Australia, Gulf Countries and Africa
Payments company Ripple has launched a new partnership to help enable cross-border payments between Africa and a slew of other markets.
Ripple says in a new press release that it is partnering with Onafriq, a fintech firm with a network spanning 40 African markets.
Onafriq will use Ripple’s crypto-enabled payments technology to launch payment corridors between 27 African countries and the United Kingdom (UK), Australia and the Gulf Cooperation Council (GCC). The GCC is an intergovernmental body that represents the United Arab Emirates (UAE), Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
Dare Okoudjou, Onafriq’s founder and chief executive, says the new Ripple partnership supports his company’s mission of decreasing the importance of borders when it comes to payments to and from Africa. Read More
Bitcoiners pitch draft bill to preserve blockchain, decentralization in Argentina
The group, “Bitcoin Argentina,” previously rejected the idea that regulation was needed in the cryptocurrency industry.
A non-government organization, Bitcoin Argentina presented a draft bill proposing to regulate the cryptocurrency market in a way that preserves decentralization and strengthens public trust.
The proposed legal framework was pitched by Bitcoin Argentina’s president, Ricardo Mihura, at LABITCONF 2023 in Argentina’s capital, Buenos Aires, on Nov. 10. Bitcoin Argentina previously dismissed the idea that the industry needed to be regulated. However, the Bitcoin advocates now argue it is necessary to not only preserve blockchain but also hold bad actors accountable to the fullest extent of the law.
“We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of giving a positive response, with only two purposes: preserving decentralization and protecting savings and public trust.” Mihura added: Read More
User Loses Crypto After Installing And Using Fake Skype App
The world of crypto and Web3 is plagued with dangers associated with fake apps and phishing attempts, duping unsuspecting victims with the promise of quick and easy money.
An unfortunate incident has come to light in which a user lost his crypto after using a fake version of a hugely popular app, Skype.
Blockchain security firm SlowMist brought the incident to light, describing an unfortunate incident where a user lost significant funds after using a fake version of a highly popular social platform, Skype. SlowMist has already published several articles analyzing phishing cases. According to the analysis, the user in question downloaded the app from an untrustworthy source online.
Preliminary investigations have revealed that the hackers behind the fake app and hack were the same Chinese hackers who were responsible for a similar fake Binance app. The group of hackers has a notorious reputation for targeting Web3 transactions. According to SlowMist, the attackers used a tried-and-tested phishing strategy to steal the user’s funds, with the fake Skype app asking the user for permission to access the users’ personal information. 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.
