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DeFi Presents Multi-Billion Dollar Use Case To Disrupt Foreign Exchange Market, According to Shark Tank Star Kevin O’Leary
Shark Tank star Kevin O’Leary is saying that the foreign exchange market is a multi-billion dollar use case for decentralized finance (DeFi), a form of blockchain technology that supporters claim can revolutionize financial services by eliminating the need for intermediaries.
During this year’s SALT conference in New York City, O’Leary relates how investors must rely on foreign exchange middlemen to invest in overseas markets. He says the extra steps required in such dealings are often unnecessary and burdensome. Read More
Canadian city plans to supply residents’ heat using Bitcoin mining
The recovered energy will be used to heat 100 residential and commercial buildings in North Vancouver, with a population of roughly 155,000.
MintGreen, a Canada-based cleantech cryptocurrency miner, will be partnering with the Lonsdale Energy Corporation to supply heat to residents of North Vancouver in British Columbia starting in 2022.
In a Thursday announcement, MintGreen said its “digital boilers” — which it claims can recover more than 96% of the electricity used for Bitcoin (BTC) mining — will prevent 20,000 metric tons of greenhouse gases per megawatt from entering the atmosphere during its arrangement with North Vancouver. The recovered energy will be used to heat 100 residential and commercial buildings in the Canadian city with a population of roughly 155,000. Read More
Why Is Crypto Twitter Abuzz About Tungsten Cubes?
Like Bitcoin, it feels good to hold—or so people say.
Bitcoin is often referred to as "digital gold," but the only metal anyone on Crypto Twitter is talking about today is tungsten. And not just any form of tungsten, but a cube of it.
Everyone from Bloomberg host Joe Weisenthal (aka @TheStalwart) to CoinShares CSO Meltem Demirors is opining today about tungsten, a 4-inch cube of which weighs over 40 pounds. (If that's too heavy, you can get a 1.5-inch cube that weighs just over 2 pounds.) Read More
AdEx Rebrands To Ambire And Focuses On A New Cutting-Edge DeFi Wallet
AdEx, the decentralized advertising platform, and the biggest payment channels network on Ethereum, has announced a rebrand to become known as Ambire. In addition, the company will shift focus its Ambire wallet, which it believes will become the jewel in the Ambire Network.
AdEx Network has achieved much since its decentralized ads platform was launched back in 2017. Technological advances include seedless logins, paying transaction fees on Ethereum in stablecoins rather than in ETH, automated gas fee management, atomic bulk transactions (multi-calls), eliminating ERC20 approvals, among others. Read More
There have been major headlines, and a lot of talk and speculation concerning the Chinese developer, the Evergrande Group, and its demise and potential collapse it is facing. Could we be on the verge of another Lehman Brothers moment? An uncontrolled default of the Evergrande group could lead to a credit crunch, implicating all financial markets globally. But what about crypto? Read More
NFTs allow people to ‘interact with crypto in a hands-on way’ — Shaq
NFT art and sales dominated headlines all throughout 2021, and now that crypto has gone mainstream, Shaq says the sector is primed for expansion.
Nonfungible tokens, or NFTs, have been a revolutionary force in the crypto, arts, and sports industries, not only because of the financial liberation successful projects offer to creators but also their ability to bring art lovers closer to creators and bring athletes closer to their fans.
Prior to 2021 — and a few blockbuster sales from Beeple — NFT-based art was relatively obscure. And while OpenSea was in existence, the massive trading volumes seen in the last six months were unimaginable.
The success of Dapper Labs’ NBA TopShot NFTs proved that digital collectibles have wide-ranging appeal, and to date, more than $780 million in collectibles have been bought and sold on the platform. In late September, Dapper Labs raised an additional $250 million in funding, validating the fact that big businesses realize the marketing and sales potential of NFTs. Read More
How will DOJ’s new crypto enforcement team change the game for industry players, good and bad?
In a bid to catch up with cybercriminals, the Justice Department is pooling all crypto expertise in one place.
On Oct. 6, the United States Department of Justice, or DOJ, announced the creation of a specialized unit, the National Cryptocurrency Enforcement Team, or NCET, tasked with prosecuting criminal misuses of digital assets and crypto infrastructure, as well as tracing and recovering the ill-gotten cryptocurrency.
The move continues the U.S. authorities’ push to disrupt the corners of the crypto ecosystem that are thought to facilitate illicit activity, such as ransomware attacks. What does the government’s crypto enforcement ramp-up hold for the larger digital asset space? Read More
Epic Games Opens Doors For Blockchain Games After Steam Ban
Epic Games has told The Verge that it is open to having blockchain games and games that support cryptocurrencies and blockchain-based assets on its game store. Epic’s statement comes after its competitor, Valve, has banned games featuring blockchain technology and assets such as NFTs from Steam.
Epic was asked about the possibility of games featuring NFTs, to which it replied that it would be willing to work with early developers in the field. Read More
Truly decentralized finance will be beyond siloed blockchains
To be the future lifeline of industries, blockchain technology needs to embrace the old-fashioned quality of interconnectivity.
“Yahoo users will not be able to interact via mail with Google email (Gmail) users,” — If tomorrow’s headlines sounded like this, the earth would come to a halt. This headline shall never see the light for all the right reasons. However, blockchain tech and its favorite son, decentralized finance (DeFi), are heading towards this rabbit hole.
Siloed blockchains with no window for external communication are dominating the nascent space. Interconnectivity is elementary and synonymous with the primitive human quality of being social. From the days of the barter system, transfer and exchange have been the two core practices on which the world has been built. 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 other advice.
