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Robinhood partners with Chainalysis ahead of crypto wallet launch
Blockchain analytics firm Chainalysis will be partnering with Robinhood to provide data and tools for trading in advance of the app launching its crypto wallet.
In a Monday announcement, Chainalysis said the integrated partnership with Robinhood Crypto will help the trading app meet compliance requirements ahead of the launch of its crypto wallet, expected to roll out for all users in early 2022. According to Robinhood, the platform will adopt Chainalysis’ Know Your Transaction, the firm’s monitoring compliance solution, in addition to Chainalysis Reactor, its investigations software. The trading app also said its teams would be using Chainalysis’ certification programs to achieve compliance.
“Chainalysis works closely with regulators and law enforcement to develop industry best practices and that approach is aligned with Robinhood’s commitment to working with policymakers in a collaborative manner,” said Robinhood Crypto head of partnerships Ben Einstein. Read More
Transformative Technology Behind Blockchain
Blockchain technology — often synonymous with Distributed Ledger Technology (DLT), traces the roots of each digital resource and is irreversibly transparent as a result of decentralization and cryptographic hashing.
To understand the basics of blockchain technology, one can attribute it to how Google Doc. work. For instance, when a document is shared among networks, the document is distributed and not merely replicated or transferred.
In this case, a decentralized distribution chain has been created, enabling everyone simultaneous access. Chances of availability grant to all as changes get modified to the document, that is recorded in real-time. This mechanism facilitates thorough transparency. Read More
This open-source wallet is Stellar's answer to MetaMask
An open-source wallet offers a precious passport into the world of Stellar, making it easy for everyday users to embrace this open network for money.
An open-source wallet has launched that offers a simple way to interact with the Stellar network.
Rabet describes itself as "the key" to entering the world of Stellar (XLM), which is one of the world's oldest blockchains after launching in 2014.
Through an intuitive app that's available for desktop and mobile devices — alongside browser extensions for Google Chrome, Firefox, Edge, and Brave — users can transfer and exchange assets, as well as interact with decentralized apps "in a safe, user-friendly environment."
Developers can also benefit — and Rabet's bespoke API enables skilled professionals to interact with Stellar in "the same way Ethereum (ETH) developers do with MetaMask."
Usability has been a top priority for the Rabet team, and data in its ecosystem is encrypted and stored on local devices at all times. Whereas it can be difficult for everyday consumers to interact with a blockchain for the first time, Rabet offers a "passport" to a vibrant array of Stellar apps. Read More
Banking Giants Wells Fargo and HSBC To Use New Blockchain Platform To Settle Global Forex Trades
Banking behemoths Wells Fargo and HSBC Bank are teaming up to use a blockchain solution for netting and settlements of matched foreign exchange (forex) transactions.
According to Wells Fargo’s co-head of macro division Mark Jones, this will be the first time the bank has utilized blockchain technology in forex settlements.
The two banks will be using a platform provided by payments firm Baton Systems using its proprietary CORE distributed ledger, which aims to be a frictionless, blockchain-based settlement system.
According to the announcement,
“The platform enables participants to efficiently settle bilateral cross border obligations across multiple onshore and offshore currencies, coupled with the added flexibility of extended settlement windows to optimize PvP [Payment versus payment] risk reduction opportunities.” Read More
Elrond has a distinct advantage of having a team of professionals with both technical and entrepreneurial backgrounds. Beniamin Mincu had the spotlight in my previous article covering Elrond, highlighting his entrepreneurial skills by working with Blockchain start-ups and leading the marketing, business, and community-building efforts in his career. Today we’ll give center stage to his brother Lucian Mincu, the man and hardcore engineer behind the complex infrastructure of Elrond.
The size and enthusiasm of a community can directly impact the awareness and adoption of a cryptocurrency project, affecting marketing and general trading volumes. Elrond’s Telegram Community has over 53K members and is highly engaged. Elrond’s communication abilities and transparency are exceptional and are good reasons why it generates so much interest.
Mainstream is becoming much more aware of cryptocurrency and the future impact on society, but the majority find it difficult to comprehend or utilize the complex technology. The Elrond team saw this obstacle to massive global adoption and designed the tokenomics and utility to help the average person grasp the concept.
One of Elrond’s primary goals is to make the interface clean and easy to understand, making it as stress-free as possible for new user adoption. They have succeeded with the Maiar mobile dApp, which, unlike many new dApps, was fully developed at launch with very few bugs and has been positively received from the start.
It is also called the “gateway to the unbanked,” noting that “A large population of the world is unbanked, without access to the existing financial infrastructure, and so their opportunities to participate in wealth creation are extremely limited.” Read More
Enhancing Privacy On Facial Recognition Systems Using Blockchain Technology
The facial recognition market is expanding at a rapid pace as governments, banks, and corporations install cameras across cities and buildings to enhance security. According to a report by Markets and Markets, the post-COVID 19 global facial recognition market size is expected to grow from USD 3.8 billion in 2020 to USD 8.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.2% during the forecast period.
While the advantages of facial recognition such as increased public safety, fast and non-invasive identity verification, and reducing fraud are all well documented, major issues still face the industry. In anticipation of the explosive growth of facial recognition systems, privacy remains the key issue for most citizens, some who feel unwanted facial recognition systems invade massively on their privacy. The major problem lies in that the city residents rarely have any idea or consent to having their faces being filmed. Read More
YouTube series changes the way crypto is presented with an alternative to the mainstream media
Mainstream media only portrays a subset of the real opportunity blockchain provides, that is, until a show began unveiling the world of crypto one episode at a time.
Media is foundational to the cryptocurrency industry and has been since the beginning. Even a single look at Bitcoin (BTC) indicates the power of the media in promoting the relatively new concept and, in turn, establishing a community of enthusiasts. The development of the cryptocurrency market and the growing price of Bitcoin have since been attributed to the mainstream media.
First and foremost, the media tends to focus primarily on the financial implications of the cryptocurrency world, limiting its contents to the rise and fall of prices, when in reality, this is only a subset of the technology’s impact on the world. Secondly, the majority of media released today is biased to target an American audience when the relevant population is much greater, spanning over the entire world. Last but not least, it is not uncommon for the content to have a lower production value due to quick turnaround times or smaller budgets. Due to the high bar set by traditional media, many unfamiliar with the crypto community look to these news outlets as less credible based on appearance alone.
As a result, many cryptocurrency-specific media platforms have since arisen to cover news about the technology and any updates on the greater world of blockchain. Read More
Platform leverages blockchain to solve digital divide in Africa
Token use case demonstrated in their ability to incentivize the previously unsustainable broadband distribution model.
Nearly half of the world's population has no broadband internet access. The sad reality is most of this population is located in Africa. According to the United Nations (UN), Sustainable Development goals, providing universal access to the internet continues to increase in importance, allowing many to access life-enhancing online services in healthcare, education, and other skills necessary to reduce poverty, ensure economic growth, and foster inclusion on the global market. With so many brilliant minds in Africa, many believe that the right technology can help support their education and communication with the rest of the world.
Part of the reason this divide exists is the amount of growth many African regions have seen, which has made it difficult, if not impossible, to lay the cables for quality internet or connect these populations to the world as a whole. In addition to the ability to execute this, the World Bank has also estimated that the process could be lengthy, requiring more than ten years and $100 billion to ensure Africa gains access to broadband internet. The team behind 3Air believes they have a solution that can make this a reality in 50% less time and at a fraction of the cost.
3air, a blockchain platform with its own Cardano (ADA)-based token, aims to solve this digital divide in Africa by partnering with K3 Telecom, a Swiss broadband provider specializing in infrastructure, to solve this issue with novel technology that can transmit optics grade broadband internet, Digital TV and IP telephony over the air. This technology is said to have the ability to connect millions of people and onboard a 3air blockchain platform catered specifically to the needs of developing countries and telecoms. Read More
Ukraine’s Electronic Currency Program Launched On Stellar
The pilot program will test the viability of the electronic hryvnia (Ukraine’s currency), which will be launched by TASCOMBANK and Bitt on the Stellar blockchain.
TASCOMBANK To Build Pilot E-Hryvnia
Both Bitt and TASCOMBANK are Ukraine’s oldest commercial banks. They will be in charge of launching the pilot program that will test run this digital currency on an open blockchain that provides asset control capabilities to issuers. The electronic hryvnia will be tested in different use cases like peer-to-peer payments, merchant payments, and programmable payroll for public employees at Diia, an IT solutions enterprise. The actual building and testing of the regulated e-hryvnia have been allocated to TASCOMBANK.
The bank’s Chairman, Volodymyr Dubey, stated,
“With the rapidly growing impact of virtual assets on our everyday life and economic landscape, it is essential to utilize the advantages of blockchain technology and new related products as a part of the bank’s long-term market strategy. Cooperation with Bitt to build on Stellar allows us to connect our core banking system with blockchain-based infrastructure, creating an ecosystem that includes a full range of banking products and operations with electronic currency on the Stellar blockchain.” 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.
