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Payments Giant Stripe Launches Support for Crypto, NFTs
FTX and FTX US also announced they have signed with Stripe for payments and KYC services.
Financial services company Stripe is once again embracing the world of crypto. Today, the global payments giant launched its crypto services, offering businesses the ability to use Stripe as a payment method for crypto and NFT transactions. Stripe is offering payout services for Web3 companies as well as know-your-customer (KYC) and fraud prevention.
The company’s co-founder John Collison tweeted out the news Thursday, sharing the range of different ways Stripe plans to support Web3 companies with its crypto APIs—the interfaces that companies use to connect to Stripe's platform.
Currently, Stripe’s crypto services are only available to businesses in the U.S., the U.K., and the European Union. Its NFT services for marketplaces are supported in these regions as well as Japan. Read More
The Potential of Blockchain in the Retail Industry
Blockchains are protected by complicated cryptographic protocols and may only be accessed via public and private keys.
One thing that can be said for certain is that now is the time for retail businesses to use blockchain to handle all of the new normal's challenges and difficulties.
Fortunately, the new century has seen rapid advancements in retail technology, allowing the industry to design its own solutions. Blockchain technology is one of them and may be used to a variety of challenges that retailers are now facing.
Before delving into the myriad of benefits offered by blockchain technology, a brief introduction to blockchain might be helpful. Blockchain is essentially a distributed database that can be accessed by a network of computers (distributed ledger). A record becomes immutable once it is added to the block (ledger). The network nodes check for the newest version of the blockchain on a regular basis to verify that all copies of the database are identical.
The focus of blockchain is on decentralized peer-to-peer transactions (currency or digital assets) that are not controlled by a single centralized body. The database is transparent, and it keeps a comprehensive history of all transactions. Blockchains are protected by complicated cryptographic protocols and may only be accessed via public and private keys. The retail industry stands to gain five key benefits from blockchain technology, which are - Cost-efficiency, Faster Payments, Transparency, sustainability, and Security. Read More
Exploring the 4 Types of Blockchain Technology
Blockchain technology offers decentralization, enhanced security, faster settlements, and immutability.
The technology became popular through bitcoin.
The four main types of blockchain networks are private blockchain, public blockchain, hybrid blockchain, and consortium blockchain. Read More
This Tiny Blockchain Startup’s Tangle With SEC Could End Up as Landmark Case
Whether LBRY’s tokens are deemed securities could set an even bigger precedent than Ripple’s higher-profile SEC suit.
It’s a blockchain startup project that few people have heard of, involving a cryptocurrency that barely anyone trades.
But the saga of LBRY is being closely tracked by lawyers who say the low-profile case now before the U.S. Securities and Exchange Commission could have massive implications for the key question of which cryptocurrencies might be deemed to be afoul of regulations and why.
The SEC’s civil lawsuit against LBRY might end up setting a regulatory precedent for hundreds of small-scale crypto projects, security lawyers interviewed by CoinDesk said. That’s true, even though LBRY’s token, LBC, has a market capitalization of just $21 million – a tiny fraction of XRP, the $39 billion cryptocurrency at the heart of the much higher profile case by the SEC against Ripple Labs.
“A judicial opinion in the LBRY case will have much more impact for people looking for clarity than the Ripple case,” said Grant Gulovsen, a third-party lawyer who advises crypto startups and who's not involved in the LBRY litigation. “There are so many, many projects that did similar things to what LBRY did compared to what Ripple did,” he said. 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.
Solana and its technology look favorable as the conduit to assist in making Markethive the go-to for an alternative and autonomous, censorship-free platform providing all components of social media, marketing, broadcasting, publishing, eCommerce, and business facilitation. A cottage industry economy for people from all walks of life to thrive. Read More
Adobe moves to ‘sustainable’ blockchains
Yesterday software company Adobe added support for the Solana and Polygon blockchains to its non-fungible token (NFT) offerings on its art platform Behance. The two blockchains are perceived as more sustainable, whereas previously, Behance supported NFTs on the Ethereum blockchain. Adobe has also made moves to address counterfeit NFTs through its Content Authenticity Initiative in collaboration with NFT marketplaces, including OpenSea, SuperRare, KnownOrigin, and Rarible.
Acquired by Adobe in 2012, Behance is used to showcase digital artwork. Last year, Behance introduced the ability for users to showcase their NFTs on Behance, although it does not support NFT sales. The crypto wallets that mint the NFTs are associated with Adobe IDs.
Adobe’s recent introduction of additional blockchain compatibility to Behance was in part motivated by the relative energy efficiency of Solana and Polygon, making them more environmentally-friendly alternatives to the Ethereum blockchain. Consumers have mounted a backlash against brands that promote NFTs, in part motivated by environmental concerns. When Salesforce announced it was getting into NFTs, 400 employees signed a letter objecting to the company’s plans. Read More
Crypto education can bring financial empowerment to Latin Americans
Crypto education could be key to promoting financial empowerment and increasing mass adoption across Latin America — if we do it right.
In October 2021, it was estimated that approximately 15% of the world’s supply of Bitcoin (BTC) was in circulation in Latin America. According to a recent report released by Crypto Literacy, however, 99% of Brazilian and Mexican respondents failed a basic assessment on crypto literacy. Crypto adoption is well underway across the region — on the rise even — but, people still lack a basic understanding of its underlying technology and use cases.
When this lack of basic crypto literacy is considered in the context of developing markets across Latin America, where the use cases for blockchain technologies hold real significance, it becomes a serious concern.
Latin American populations who lack crypto literacy risk missing out on stablecoins that can offer protection against Latin America’s rapidly rising inflation. As well as decentralized applications (DApps) that provide populations of unbanked individuals access to financial services from their mobile devices. In countries where remittances are a major facet of the economy, cryptocurrencies offer a faster and cheaper alternative for sending funds across borders. Read More
In defense of crypto: Why digital currencies deserve a better reputation
Crypto’s mainstream acceptance is almost already here, but many people still have unfounded fears we have to overcome.
Ever since its inception and throughout its turbulent journey toward mainstream acceptance, crypto has elicited both enthusiasm and trepidation in equal measure. After the unfair battering it has received over the years, the time has come to defend digital currencies.
Unfortunately for crypto, first impressions count. Bitcoin (BTC) initially gained a tawdry reputation in its early years as the currency of choice for illicit activities — favored by dark web users, ransomware hackers, drug traffickers, and money launderers worldwide.
But, the world has changed since the first Bitcoin was mined in January 2009. There are now more than 18 million of them in circulation, and more than 90,000 people have $1 million or more stashed away in Bitcoin, according to cryptocurrency data-tracking firm Bitinfocharts.
There are, indeed, signs that crypto is, at last, gaining mainstream acceptance. Just last year, El Salvador declared Bitcoin as a legal tender in September, and in October, the first Bitcoin futures-linked exchange-traded fund (ETF) in the United States began trading on the New York Stock Exchange. Payments giant Visa also launched a Global Crypto Advisory Practice in December, helping financial institutions advance their own crypto journey. Read More
The future of music is on-chain: A conversation with a TokenTraxx co-founder
Web3 and NFTs are reshaping how the world interacts with music.
TommyD is an award-winning music producer from Britain who has worked with Kanye West, Jay Z, Adele, Beyonce, Janet Jackson, Emeli Sande, and many more. He got into blockchain in 2016 and “fell in love with the tech concepts and the underlying philosophy of decentralization.”
But he admitted he didn’t see the right interception of the tech and music industries at the time. It was when nonfungible tokens (NFT) gained their momentum when he realized the true potential this technology could bring to artists. In 2021, he co-founded Token||Traxx, an NFT marketplace for musicians.
Tommy, you’ve got impressive experience in the music industry. When and why did you get into the blockchain space?
I’ve been fortunate to have worked with some amazing artists, from Kanye to Kylie, and I’m an artist myself. We are all the same in that we are looking for acceptance and support from the communities that enjoy our work.
I’ve always been fascinated by creativity and collaboration throughout my career in music, and I found that same energy in the blockchain space.
When I learned about blockchain technology, I couldn’t see how the transparency and providence provided by blockchain technology would sit with the traditional industry, which, to be honest, is built in part on controlling the money that's stuck in the pipelines of royalty distribution. 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.
