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PRESS RELEASE. Helium Network developed a decentralized peer to peer wireless network, which can connect different compatible devices through a series of hotspots. By being a part of this network, people can earn cryptocurrencies (HNT). The Helium hotspot miner network is growing steadily. Hence, it is worthy to think about mining HNT. To help people with mining HNT, Helium Bar has developed an excellent solution. Helium.Bar is nothing but a helium network, which is made out of hotspot miners. Any person who is interested in HNT mining can take a look at it. Helium.Bar is one of the fastest-growing communities in Helium Hotspot mining. This concept was initiated by a team, who had years of experience in the radio network industry. The previous experience helped them to ensure the overall success of this massive helium network. The concept behind Helium Bar is simple and easy to understand. People who wish to mine HNT with it will need to choose a hotspot plan. That’s the only thing that they have to do and there aren’t any technical complexities. Hence, any interested person can get started with HNT mining through Helium.Bar. The Helium mining hotspots installed on the rooftop are not just ordinary hotspots with Wi-Fi or any other similar technology. They are based upon Helium LongFi technology. Due to the same reason, it is possible to connect to other hotspots that are located miles away. This technology has given life to excellent wireless network coverage, which consists of millions of devices. Helium already has massive coverage. In fact, it is the biggest public LoraWAN network in the United States and Europe. The versatility of Helium as a network is the main reason behind its popularity. For example, it is offering robust coverage, along with high security and low power consumption for urban locations. As of now, Helium.Bar has been able to create hotspots in numerous locations within Europe and many other parts of the world. This opportunity is available for any interested person. To join the network, it is just a registration away. Once the hotspot is configured, it will be possible to start generating HNT instantly. In other words, this is one of the fastest methods of making money. Helium.Bar offers numerous plans for the interested people to join as well. A mining hotspot can be rented for an amount of $697. It will deliver a guaranteed payout. In fact, the exact amount of HNT that a person can mine out of a hotspot would vary depending on the network occupancy. It is possible to purchase one of the plans by making payments with either a credit card or cryptocurrency. All cryptocurrency payments are secured by Coinbase. The team behind Helium.Bar encourages all interested people to take a look at the plans available on the website and join this amazing opportunity. There are also shared plans, which start at a price of only $59 and offer fixed payouts every single month. This offer is available only for a short time period, and people who can quickly grab it can get the best returns. Helium.Bar will offer all rewards through HNT. What do you think ? Check out: https://www.helium.bar This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Researchers in Moscow are developing a new service that will allow users to transfer digital data to their heirs, including crypto keys. The Russian “time capsule” will be capable of storing and relaying other private information as well such as a record of the whereabouts of valuable items. Russian Universities to Provide Service Allowing Crypto Investors to Secure the Future of Their Coins Experts from three Russian universities – Lomonosov Moscow State University, National Research Nuclear University, and Moscow State Institute of International Relations – are working to give crypto holders the peace of mind that their digital assets will not be lost after their death. The service will be based on blockchain technology, RIA Novosti reported quoting Russia’s National Technology Initiative Platform. The joint team is now creating a website through which people will be able to store the precious information, encrypted and ready to be transferred to the possession of specified persons, the project manager Dmitry Izvekov explained. This can happen only after certain conditions are met and not earlier than six months after the data has been uploaded. The report further details: [The service] will allow you to securely store digital data and assets – from passwords for social networks to keys to bitcoin wallets. Subscribers will be able to use the Russian time capsule to also keep photographs, text files, video messages, and even location details for valuable items that can be passed on to heirs in case of an unexpected death, for example. A user will have to send a link to a chosen recipient who must set up their own account in order to gain access to the information. The time capsule will open only on a pre-specified date in the future. The encrypted data will be stored on Sbercloud, a cloud service developed by one of Russia’s largest banks, Sberbank, and backed up on Dropbox and other platforms. Each user will be allowed to send two capsules free of charge. The creators hope to raise up to 3 million rubles (around $40,000) to finance the project, monetize the service as soon as it gains popularity and offer additional services. According to a survey conducted last year by the Cremation Institute in the U.S., which has been quoted by the Russian business news portal RBC, 89% of crypto investors worry about what will happen to their assets after they die. Yet, despite concerns that the coins can be lost forever, only 23% of cryptocurrency holders have a plan for their digital money after they pass away. What do you think about the time capsule service for crypto holders that’s under development in Russia? Share your thoughts on the subject in the comments section below. View the full article

Binance CEO Changpeng Zhao (CZ) says that his company wants “to be licensed everywhere” and “From now on, we’re going to be a financial institution.” Following warnings by a growing list of regulators worldwide, Zhao also revealed that Binance is seeking “a strong compliance background CEO to show our commitment to compliance as this is the top priority of the organization.” Binance’s CEO Unveils Company’s Regulatory Compliance Plans Binance founder and CEO Changpeng Zhao (CZ) has addressed recent compliance issues his exchange has been facing and reports of the exchange hiring a new chief executive. Governments and financial watchdogs are paying closer attention to the cryptocurrency space. A growing number of regulators worldwide have warned Binance about operating in their countries without being properly authorized. They include regulators in Japan, the U.K., Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania. Commenting on regulatory scrutiny, Zhao told journalists that he wanted to improve relations with regulators. He added that Binance would seek their approval and establish regional headquarters, breaking with its decentralized structure. He was quoted as saying: We want to be licensed everywhere … From now on, we’re going to be a financial institution. Responding to reports that he would be willing to step down whenever he finds a successor who can do a “better job,” Zhao explained via Twitter that Binance’s “CEO contingency planning starts in day 0, same as any other role.” He further opined: “I feel CEOs should not stay for more than 10 years, ideally around 5 years. We live in a dynamic world. We need new thinking. Presidents only serve for 4 years. We are always hiring for CEOs.” While emphasizing, “There are no immediate plans to replace me as CEO,” he said: “I don’t need to be CEO, and I am not leaving. I will always find ways to contribute to the community behind the logo tattooed to my forearm.” Zhao additionally detailed: I/we would very much like to hire a strong compliance background CEO to show our commitment to compliance as this is the top priority of the organization. What do you think about Binance wanting to become a regulated financial institution and hiring a new CEO? Let us know in the comments section below. View the full article

Galaxy Digital CEO Michael Novogratz says that cryptocurrencies, such as bitcoin, have bounced back because institutional investors are buying. Responding to U.S. Senator Elizabeth Warren’s anti-crypto stance, he stated, “We need to do a much better job going to D.C.” to educate lawmakers. Novogratz Says Institutions Are Buying Galaxy Digital CEO Mike Novogratz talked about the outlook for bitcoin in an interview with CNBC Wednesday. He was asked how he sees bitcoin’s price action and what he thinks has been driving the price of the cryptocurrency back to the $40,000 level. The pro-bitcoin executive replied: Crypto has bounced back because institutions are buying. He brought up the FTX exchange as an example. The exchange recently raised $900 million from more than 60 investors, putting the company’s valuation at $18 billion. Investors included Softbank Group Corp., venture capital firm Sequoia Capital, private equity giant Thoma Bravo, Daniel Loeb’s Third Point, the Paul Tudor Jones family, and British hedge fund manager Alan Howard. Novogratz dismissed the explanation that the price hike was due to the news that Amazon may be accepting cryptocurrency payments. Emphasizing that institutions are some of the smartest investors in the world and they are participating in the crypto space, he said: That sent a signal to the whole crypto market that this isn’t going away. “This was partly a big short-covering rally and partly recognition that this is a real market that isn’t going anywhere,” said the Galaxy Digital CEO. Novogratz was also asked about cryptocurrency regulation and what it could potentially look like in the U.S. particularly after the warnings by Senator Elizabeth Warren. Warren warned Tuesday that bitcoin’s price fluctuations put retail investors and businesses that accept bitcoin payments at risk. In addition, she claimed that individuals who use bitcoin as money are criminals. Regarding Senator Warren’s remarks about cryptocurrencies, the Galaxy Digital CEO opined: It was disappointing. She was supercilious. She was smug. Really disappointed she hadn’t done any work. This is a progressive technology. She is supposed to be a progressive. “Crypto goes after the rent takers. If you look at defi [decentralized finance]. If you look at the NFT [non-fungible token] revolution. It’s going to empower artists and creators over the people that used to make money off their backs. So, really frustrating and disappointing,” he continued, adding: It just tells us … We need to do a much better job going to D.C. and educate [lawmakers]. Novogratz also responded to Warren’s anti-cryptocurrency stance on Twitter Tuesday. “Banks charged $12 billion in overdraft fees, a fortune in ATM fees, a fortune in checking account fees. But you keep going after crypto where saving and money transfer is a fraction of banks. Good job Senator Warren. You really don’t seem so progressive to me,” he tweeted, elaborating: If banks had the transparency of defi protocols, we would not have had the mortgage crisis. Defi will win because it’s better. “Atomic settlement. Bearer assets. Composability. Transparency. We just need to solve for KYC which is coming. We need to educate our politicians,” he concluded. What do you think about Novogratz’s comments? Let us know in the comments section below. View the full article

Ripple has launched its first On-Demand Liquidity (ODL) service implementation in Japan in partnership with SBI Remit, a large Japanese money transfer provider, and Philippine crypto exchange Coins.ph. Ripple, SBI, Coins.ph Collaborate to Launch Ripplenet’s On-Demand Liquidity Ripple Labs announced Wednesday “the launch of Ripplenet’s first live On-Demand Liquidity (ODL) service implementation in Japan” in collaboration with SBI Remit Co. Ltd. and Coins.ph. SBI Holdings, an investor and shareholder of Ripple, independently announced Wednesday that SBI Remit and crypto exchange SBI VC Trade have launched “Japan’s first international remittance service using crypto assets” in partnership with Ripple Labs. SBI Remit, a subsidiary of SBI Fintech Solutions, is one of the largest money transfer companies in Japan. It has been using Ripplenet since 2017. Coins.ph, a product of Betur Inc., is a crypto exchange and a leading mobile wallet service in the Philippines that is regulated by the central bank, Bangko Sentral ng Pilipinas (BSP). The announcement details: This expanded partnership will see SBI Remit connect with Coins.ph and digital asset exchange platform SBI VC Trade on Ripplenet for faster and more affordable cross-border payments from Japan to the Philippines. SBI explained that after a remittance request is initiated with SBI Remit, SBI VC Trade sends XRP in real time to Coins.ph, which converts the cryptocurrency to the Philippine peso to pay the remittance recipient. The price of XRP jumped more than 16% Wednesday following the news. At the time of writing, XRP is trading at $0.7148 based on data from Bitcoin.com Markets. XRP chart. Source: Bitcoin.com Markets. Ripple explained that “The Filipino diaspora is currently the third largest in Japan,” noting that remittance flows from Japan to the Philippines sent by overseas Filipino workers in 2020 totaled approximately $1.8 billion. In addition, Japan has one of the highest cross-border payment fees in the world. The company detailed: This is Ripple’s first On-Demand Liquidity (ODL) service implementation in Japan, setting the stage to drive more adoption of crypto-enabled services in the region. By leveraging the digital asset XRP to eliminate pre-funding, the two companies can also free up capital and accelerate the expansion of their own payments businesses. Nobuo Ando, Representative Director of SBI Remit, commented: “The launch of ODL in Japan is just the start, and we look forward to continuing to push into the next frontier of financial innovation, beyond real-time payments in just the Philippines, but to other parts of the region as well.” Meanwhile, the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against Ripple Labs and its executives is still ongoing. Ripple CEO Brad Garlinghouse has revealed, however, that the company could go public after the SEC lawsuit is resolved. What do you think about Ripple launching On-Demand Liquidity (ODL) service in Japan? Let us know in the comments section below. View the full article

Over the last year and a half, non-fungible tokens (NFT) have seen massive hype and millions of dollars worth of sales executed at auctions. A recent survey produced by bonusfinder.com shows sports fans are doubtful of the NFT craze as the poll’s findings show nearly three out of four people are “moderately skeptical” about the long-term outcome of NFTs as an investment. Sports Fans Are Skeptical of NFTs but 62% Know About the Technology Non-fungible tokens have been a very hot topic in 2021 and worldwide Google Trends (GT) data shows the subject reached an all-time high in terms of Google queries in mid-March. Since then, however, GT data shows interest has dropped significantly as search queries for the term “NFT” slid from a top score of 100 to this week’s score of 38. Just recently, the web portal bonusfinder.com published a survey with 1,009 sports fans in the U.S. revealing what they thought about NFTs. Roughly 64.1% identified as men and 35.7% identified as women and participant ages ranged from 18 to 83, with an average age of 38. The research highlights that interest in NFTs is highest in states like California, Hawaii, Washington D.C., Nevada, and Vermont. Queries for the search phrase “NBA Top Shot” trended the highest in New Hampshire, Rhode Island, Delaware, Massachusetts, and New Jersey. The Bonusfinder survey shows that 62% of the respondents knew what an NFT was and 16% admitted they didn’t know. 23% were “unsure” what a non-fungible token (NFT) was and around 9% said they were “extremely comfortable” describing the technology. 28% of the participants said they were “uncomfortable” or “extremely uncomfortable” discussing the NFT subject with others. The Bonusfinder study shows that 40% of sports fans are uncertain about the longevity of NFTs and 39% said they were “excited.” 29% of the 1,009 sports fans detailed that they were confused by NFTs. “Despite having already sold for millions of dollars,” Bonusfinder’s survey notes, “34% of sports fans also admitted feeling very skeptical about the long-term investment future of sports NFTs, compared to less than 4% who were completely bought in and another 23% who identified as being a little skeptical.” The NFT study adds: Generally speaking, 52% of sports fans agreed sports NFTs were an investment bubble, which may be an astute observation of the current market condition. Fans of Specific Sports Teams Likely to Purchase NFTs, 1 in 5 Have Already Invested in Sports NFTs Another interesting finding indicates that one in five sports fans have invested in sports-related NFT products and in 2021, the average sale was close to $600. The most popular products among the survey respondents included “NBA Top Shot (52%), digital trading cards (47%), and MLB Champions NFTs (43%).” Interestingly, 19% of NFT investors surveyed who had purchased NFTs previously had purchased Rob Gronkowski Championship Series NFTs. The survey also shows that fans of specific sports teams tend to purchase NFTs. “Fans of the Chicago Bulls (27%), Boston Celtics (25%), New York Nicks (24%), and Cleveland Cavaliers (18%) were the most likely to purchase NFTs, and inspiration for investing most commonly came from friends (52%), family members (40%), and news articles (38%),” Bonusfinder researchers emphasized. “Twitter (23%) was the most popular sports NFT social media inspiration, and Tesla founder Elon Musk (12%) was the top influencer.” The Bonusfinder study concludes by saying it’s hard to say how long the NFT hype will last. Despite this, the findings show, people are familiar with NFTs, sports fans are purchasing them, and a small fraction of people are comfortable describing the technology. At this point in the game, nearly three out of four people are at least “moderately skeptical” in regard to the overall longevity of sports NFTs as investment vehicles. What do you think about the recent survey concerning sports fans and NFTs? Let us know what you think about this subject in the comments section below. View the full article

The payment processing giant Paypal has revealed it has partnered with the nonprofit organization the Anti-Defamation League (ADL). According to the announcement, Paypal is researching transactions settled on the payment network that allegedly fund hate groups and extremism. Paypal to Study Transactions With the Anti-Defamation League A report from Reuters notes that Paypal is studying transactions that involve “extremists” and that fund “hate movements.” The company will investigate and disrupt the financial flows that support specific hate groups and alleged “anti-government organizations.” The announcement notes that the initiative will be completed via ADL’s Center on Extremism. According to Paypal’s chief risk officer and executive vice president of risk and platforms, Aaron Karczmer said the company has been working on “sophisticated systems” that help curb illegal activities. When the ADL announced its partnership with Paypal on Twitter, the thread got a massive number of responses criticizing the ADL’s practices. Karczmer hopes this previous knowledge and the current systems can help create a “positive social impact.” The centralized payment processor has been known to censor transactions for quite some time. In 2010, Paypal froze the account tethered to the whistleblowing web portal Wikileaks and caused an uproar. The combination of Mastercard, Visa, Paypal and others using a financial blockade against Wikileaks was controversial and the actions drove the website to accept bitcoin donations. In 2016, male escorts in the UK leveraged bitcoin to bypass Paypal censorship. In 2019, Paypal stopped servicing Pornhub models and by January 2020, Paypal suspended all Pornhub accounts. In September 2020, Paypal’s sophisticated infrastructure censored merchants selling tardigrade merchandise. Extremism Considered a Slippery Slope and Debatable The ADL’s definitions of extremism and hate are also quite debatable. For instance, five years ago the ADL classified the famous Internet frog meme “Rare Pepe” as a hate symbol. This caused the meme to get blockchained and turned into an immutable collection of non-fungible tokens. Moreover, the ADL’s definitions of anti-government organizations being dubbed extremists are also considered extreme by those who believe in libertarianism and think that governments are currently corrupt. The latest move by Paypal and ADL has already been criticized by activists, libertarians, and even bitcoiners. “Bitcoin derives its value from censorship resistance,” a Redditor on the subreddit r/bitcoin said on July 26. “Paypal, your days of forced-relevance are over,” the individual added. The former American Civil Liberties Union (ACLU) director, Ira Glasser, explains how banning hate speech is a never-ending slippery slope. “When people say they want to ban hate speech, what they mean is they want to ban speech that they hate,” Glasser stressed in an interview. “But if you allowed something called ‘hate speech’ to be banned, then the only important question would be ‘who decides?’” The report concerning the ADL and Paypal partnership explains that the payment processor has already been taking action against “extremism” over the last several years. The announcement also notes that Paypal and the ADL will be working with select civil rights organizations. Jonathan Greenblatt, ADL’s CEO, sees the partnership as a window of opportunity. “We have a unique opportunity to further understand how hate spreads and develop key insights that will inform the efforts of the financial industry, law enforcement, and our communities in mitigating extremist threats,” Greenblatt said in a statement. What do you think about Paypal joining up with the Anti-Defamation League in order to research transactions that fund extremism? Do you think there’s a slippery slope when it comes to classifying extremists? Let us know what you think about this subject in the comments section below. View the full article

The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure and forfeiture,” said a government official. Korean Government Wants Ability to Seize and Sell Cryptocurrencies of Delinquent Taxpayers South Korea’s finance ministry announced the 2021 Tax Law Amendment Bill Monday, which is part of the government’s annual review of its tax system. The bill includes a proposal to empower the country’s tax authority, the National Tax Service (NTS), to seize and sell cryptocurrencies belonging to tax delinquents starting Jan. 1, 2022, the Korea Times reported. The government explained that the number of cases where tax delinquents use cryptocurrencies to hide their assets is increasing. The bill aims to crack down on tax evasion by crypto owners. Under the proposed law, crypto exchanges must cooperate with the authorities and will be required to transfer cryptocurrencies to the government immediately upon request. In case of non-compliance, properties may be searched and assets may be confiscated as deemed necessary by the authorities. The proceeds from the sale of seized crypto assets will go into the state coffer. Korean lawmakers have voiced concerns that current regulations make it difficult to confiscate crypto assets which must be done under the existing bond seizure regulations. Not only can the process be disputed but a court-granted change in ownership records also cannot be applied to crypto assets that lack physical presence, the publication conveyed. A ministry official was quoted as saying: Property seizure procedures cannot be applied when the assets to be claimed by the government are kept in electronic wallets. The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure and forfeiture. “Going after tax evaders is part of South Korea’s broader probe to tighten oversight of crypto markets to root out money laundering and other financial crimes using cryptocurrencies, as President Moon Jae-in looks to expand the tax base to fund increased welfare spending,” Reuters described. The finance ministry said it will submit the revisions made to the 16 tax codes by Sept. 3. The proposal needs approval from lawmakers to make it enforceable. What do you think about this new crypto confiscation proposal by the Korean government? Let us know in the comments section below. View the full article

U.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “put Americans’ hard-earned money at risk.” Referring to decentralized finance (defi) as “a shady, diffuse network of online funny money,” he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” Senator Brown’s Warning About Cryptocurrencies U.S. Senator Sherrod Brown, Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, raised concerns about cryptocurrency in his opening statement at Tuesday’s hearing titled “Cryptocurrencies: What are they good for?” Stating that thousands of digital assets, namely cryptocurrencies, stablecoins, and investment tokens, have poured into the markets since bitcoin came online, the senator from Ohio said: All of these currencies have one thing in common – they’re not real dollars, they’re not backed by the full faith and credit of the United States. And that means they all put Americans’ hard-earned money at risk. “From tech giants like Facebook’s Libra – or Diem … to fly-by-night operations, we’ve seen far more empty promises than we’ve seen viable cryptocurrencies,” he added. The senator also commented about decentralized finance, stating that defi schemes hope to create “a parallel financial system with no rules, no oversight, and no limits.” Citing that “They claim to enable ‘transparency'” and “Their backers talk about the ‘democratization of banking,'” Brown exclaimed: There’s nothing ‘democratic’ or ‘transparent’ about a shady, diffuse network of online funny money. Nonetheless, he acknowledged that some people do not trust banks and the banking system; they “see these technologies as a way to take power back from the Wall Street bankers.” However, he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” What do you think about the comments by Senator Brown? Let us know in the comments section below. View the full article

In mid-May, the co-founder of Ethereum, Vitalik Buterin, donated $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Close to three months later, the CCRF organizers say they have been having issues cashing out the SHIB tokens and so far, only $20 million has been paid out. It’s Not Easy Cashing Out SHIB Tokens Roughly two months ago, Vitalik Buterin decided to donate $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Following the donation, CCRF thanked Buterin for his donation of 50,693,552,078,053 SHIB. “We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals,” CCRF said on Twitter at the time. The nonprofit organization added: We have decided to convert the donation slowly over a period of time. A recent report published by Bloomberg shows that the organizers behind CCRF are having a hard time cashing the SHIB tokens out. CCRF’s founder, Sandeep Nailwal, who is also the co-founder of Polygon (formerly known as Matic), explained this week that there have been some delays. Nailwal and CCRF have had to deal with a myriad of issues including regulatory policies stemming from India and SHIB’s market decline. SHIB Loses 83% in 90 Days, Crypto Covid Relief Fund Efforts Continue When Buterin donated the funds, SHIB was a touch lower than it was 90 days ago when it hit an all-time high (ATH) of $0.00003791 per unit. Today, SHIB is 83% down from the crypto asset’s ATH and Nailwal explained in his interview that the current stash is worth around $400 million. So far, Nailwal says the nonprofit has been able to cash out around $20 million. Still, despite the three-month drawdown, SHIB is up a whopping 11,215,808.0% over the last eight months. Pediatric and general Ventilators, Oxygen Concentrators and more found their way to Amritsar and Haryana at an Institute of Medical Research and Sciences 💪🩺via our partnership with @uwbe 🫁🇮🇳🙏#CryptoRelief #CryptoVsCovid #IndiaFightsCorona#Covid19IndiaHelp pic.twitter.com/UvOVHg9WIY — India's Crypto Covid Relief Fund 🇮🇳 (@CryptoRelief_) July 21, 2021 Meanwhile, the CCRF organization continues to show its efforts via Twitter, with actions like delivering rations and food kits. It has also collaborated with other organizations like Janman People’s Foundation. Team Khaanachahiye thanked CCRF on July 21 when the organization helped needy families with food donations. “Thank you Crypto Relief for powering our fight against hunger in the Mumbai Metropolitan Region by supporting 10,000 needy families with grocery kits,” Team Khaanachahiye said. “We are grateful. Thank You,” the group that has delivered over six million meals added. What do you think about how difficult it is to cash out the shiba inu (SHIB) tokens Vitalik Buterin donated? Let us know what you think about this subject in the comments section below. View the full article

Dvision Network has emerged as one of the fastest-growing NFT and blockchain gaming protocols in recent months. The blockchain protocol has made significant progress since its inception and continues to create new milestones. The latest is a partnership with the leading NFT ecosystem provider and creator of the ERC-1155 token standard Enjin. Enjin is a significant stakeholder in the NFT sector and has played a crucial role in developing blockchain-based gaming, metaverses, and NFT projects. Dvision migrates to Enjin blockchain Dvision has migrated to the Enjin blockchain and will now leverage the potentials of launching its NFT metaverse across five different blockchain protocols. It should be recalled that Dvision Network was initially launched on Ethereum and also supports the Binance Smart Chain network. Since Enjin is committed to online games and NFTs, Dvision has the opportunity to showcase its products to a well-established blockchain community. Furthermore, according to the press release, Dvision will leverage Enjin’s infrastructure and API to increase the type of NFTs desired by the clients. Users can design and mint NFT avatars via the character creator tool and mint them across the different blockchains. Since Enjin deploys, the JumpNet feature, NFT minting takes less power and is based on the proof-of-authority (POA). POA is a unique consensus delegates validation process to only authorized parties and would reduce power consumption by 99.85%. This makes it more effective than existing proof of work systems like Bitcoin and Ethereum. Dvision will also be operating the popular Enjin NFT blockchain protocol Efinity. Efinity is a parachain built on Polkadot and provides a good exposure of Dvision features to the Polkadot community. Multiverse ecosystem Dvision recently launched an Open Beta Test on June 30, 2021, that allowed users early access to some of the features offered in Dvision World. The test, which would feature several phases, has already gone through the first two phases of testing. Participants could test features like My Space, Character Customization, and Community Leaderboard system. So far, the testing has been a success, with many people turning up to test the new features. The Open Beta Test has launched new features on the Dvision Network platform, including the NFT Market currently operating in Beta Mode. As a result, Dvision’s user base has also witnessed exponential growth, and the project is ranked fifth in the metaverse ecosystem behind Sandbox, Decentraland, Axie Infinity, and Enjin, according to data from CoinMarketCap. Dvision Network has also gained traction on Binance Smart Chain by integrating with leading projects including PancakeSwap, Injective Protocol, SafePal among others. This development has extended the use-cases of DVI tokens within the fast-growing BSC ecosystem. Upcoming events and developments Dvision is expected to continue on its roadmap following the migration to Enjin blockchain. In addition, the metaverse is launching its first conference mentioned on the roadmap in collaboration with Lambda 256, the affiliate of the Dunamu. The event tagged Luniverse partners day is expected to discuss the local NFT ecosystem. In addition, a special lecture will be held to help participants check for potential legal issues within the NFT market while exploring potential regulatory problems within the NFT sector. Hosting Luniverse Partners Day is a major milestone achievement for Dvision as it is a gathering of top blockchain stakeholders in South Korea. It should also be noted that the Dvision Network team is continuously making significant developments in the marketing and business aspects, holding different cross-promotion activities and campaigns focused on expanding its community. Currently, the Dvision community comprises over 200,000 members across all social media channels. Dvision has also embarked on high-profile partnerships with other blockchain protocols to improve its infrastructure. For example, the NFT metaverse revealed a strategic collaboration with BSC turnkey solution platform Ankr in June. To learn more about Dvision Network, visit the website. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

A blockchain-based digital euro would be highly scalable allowing it to process an almost unlimited number of payments, the central bank of Estonia has concluded following a recent experiment. Central banks from several euro area countries and the ECB participated in the test, which also professed to show the digital currency’s carbon footprint would be smaller than that of card payments. 300,000 Payments a Second Processed During Digital Euro Trial An experiment carried out as part of the recently launched ‘Investigation Phase’ of the digital euro project has established that a blockchain-based solution for the electronic version of Europe’s common currency could in theory support an “almost unlimited” number of simultaneous payments. The test also indicated that the technology would strike a “good balance” between maintaining privacy and meeting anti-money laundering requirements. In an announcement published on its website, the central bank of Estonia praised the test results. Eesti Pank took part in the experiment along with counterparts from seven other member states of the Eurozone — Spain, Germany, Italy, Greece, Ireland, Latvia, and the Netherlands — as well as the European Central Bank (ECB). In mid-July, the Governing Council of the ECB gave the green light to further preparations for the digital euro but a final decision on its introduction is yet to be taken. The aim of the trial was to assess a possible technical solution for the central bank digital currency (CBDC). During the experiment, payments were made in digital money between people with digital identities from Estonia, Latvia, Lithuania, and Spain, Eesti Pank detailed. The tested digital euro system was able to simultaneously process more than 300,000 payment transactions a second and the funds reached receivers in less than two seconds. The estimated carbon footprint of the network turned out to be smaller than that of the current card payment system, the Estonian regulator added. Europe’s Digital Currency System Sets No Limits on Money Supply According to Eesti Pank, experts have been able to overcome some of the bottlenecks identified previously. The experiment demonstrated that due to the high scalability of the employed blockchain technology, the number of payments with the digital euro can be easily increased if necessary. The central bank also noted that the “innovative” technology does not impose “any essential limits” on the size of the money supply and elaborated: The system is able to handle the entire supply of euros in circulation and more, and there are no limits on the number of money-holders or on the number of payments made simultaneously. Further trials will be carried out as part of the project’s Investigation Phase and Eesti Pank plans to continue its participation. The ECB wants to bring in more banks and payment service providers and intends to conduct various user surveys to comprehensively examine the options for the issuing of a digital euro. During this stage, expected to last around 24 months, financial authorities will also work to determine the technical infrastructure the Eurozone’s digital currency would need. What’s your opinion about the digital euro test results announced by Eesti Pank? Share your thoughts on the CBDC project in the comments section below. View the full article

The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying the scarce resource to so-called “illegal” dealers. BDC Operators Accused of Fueling Parallel Market Activity The illegal dealers, in turn, avail the foreign exchange to clients at parallel market exchange rates. For instance, while the CBN insists that the naira’s exchange rate against the USD is currently pegged at around N411 for every dollar, parallel market dealers use an exchange rate of N500 for every dollar. Explaining the rationale behind CBN’s decision to end forex sales to BDCs, governor Godwin Emefiele suggested that operators had been profiteering at the expense of suffering Nigerians. Therefore, the CBN’s intervention is aimed at putting an end to this practice. Emefiele explained: This measure is not punitive on anyone, but it is to ensure the CBN is able to carry out its legitimate mandate of serving all Nigerians. Commercial Banks Warned As a consequence of Emefiele’s announcement, the CBN “will no longer process applications for BDC licences in the country.” On the other hand, the CBN’s weekly sales of foreign exchange will now “go directly to commercial banks.” In the meantime, Emefiele also used his speech, which was delivered following the conclusion of the CBN monetary policy committee meeting, to remind commercial banks that the central bank will “deal ruthlessly” with any institution that allows “illegal forex dealers to use their platforms.” Emefiele also blasted international bodies, including embassies and donor agencies for being complicit in what he calls “illegal forex transactions that have hindered the flow of foreign exchange into the country.” Do you think ending forex sales to Bureaus de Change alone will help to stop the flow of money to the parallel market? Tell us what you think in the comments section below. View the full article

With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible influx of miners and illegal imports of mining hardware from China. Tavanir Warns About Flood of Chinese Miners and Equipment Into Iran The Iran Power Generation, Distribution and Transmission Company, Tavanir, has issued a warning regarding the entry of Chinese cryptocurrency miners into Iran amid China’s ongoing crackdown on the industry. The state-run utility shared its concerns in correspondence with the Central Taskforce to Combat Smuggling of Goods and Foreign Currency. In a letter published by the economic news website Eghtesadnews, Tavanir CEO Mohammad Hussein Motevallizadeh referred to media reports on the shutting down of mining facilities in China. The government offensive against the sector could push Chinese miners into other countries, the executive cautioned, according to the report quoted by the English-language business daily Financial Tribune. Calling for the implementation of stringent controls to prevent a massive influx of mining companies and coin minting hardware from the People’s Republic into Iran, Motevallizadeh stated: Lower electricity costs make Iran attractive to Chinese miners. They are likely to start smuggling mining equipment into the country. Cryptocurrencies have enjoyed growing popularity in Iran with many Iranians investing amid rising prices over the past year. Cheap, subsidized electricity has catalyzed crypto mining as well, and the Islamic Republic recognized it as a legal industrial activity in the summer of 2019. The importance of Iran as a mining destination has increased and according to a study by the University of Cambridge, the country accounts for over 4.6% of the global hashrate. According to the Financial Tribune, 50 permits have been issued to mining entities in Iran but in late June the Ministry of Industries, Mining, and Trade counted 30 licensed crypto farms. That was after the department’s April announcement that miners will pay 16,574 rials ($0.39) per kilowatt-hour, four times the initial rate, and some of them may have been forced to go underground or even out of business. Iran’s largest licensed mining facility, in the city of Rafsanjan, is Chinese-owned and operated. The energy-intensive minting of digital currencies was listed among the main causes of electricity shortages and blackouts across the country this summer, with record-high temperatures significantly increasing power demand. In May, the government in Tehran said it would shut down even licensed miners during hours of peak consumption. Meanwhile, Tavanir has been going after illegal mining operations, seizing over 200,000 units of hardware in the past few months. The devices have used an estimated 750 megawatts of electricity equal to the total consumption of five provinces, the power utility claims. Do you expect many Chinese miners to relocate to Iran after the latest statements and actions by Iranian authorities? Let us know in the comments section below. View the full article

The number of users or unique addresses leveraging decentralized finance (defi) protocols via Ethereum has risen past 3 million according to recent statistics. A vast majority of these unique addresses use the defi protocol Uniswap, as 2.4 million users have been recorded since December 2018. Ethereum Defi Applications See Unique Addresses Surpass 3 Million According to statistics from Dune Analytics, the number of users or unique ethereum addresses utilizing defi has jumped past the 3 million threshold this week. At the time of writing, data shows there are 3,092,000 unique addresses recorded on July 27. The lion’s share of these addresses stems from the decentralized exchange (dex) platform Uniswap. Uniswap’s dex currently has approximately 2,438,374 unique addresses that leverage the Uniswap trading protocol. It’s worth noting, however, that since a user can have more than one unique address, records could be considered overestimates. Further, the data from Dune Analytics’ “Defi Users Over Time” chart only captures a snapshot of Ethereum-based defi apps. The defi lending application Compound holds around 326,723 addresses on Tuesday and the liquidity protocol 1inch has around 276,924 unique addresses. Behind Uniswap, Compound, and 1inch, are defi apps like Sushiswap, Balancer, and Kyber, respectively. Total Value Locked Jumps $10B, Dex Volume Grows, Defi Tokens Gather Double-Digit Gains While cryptocurrency markets saw some price recovery this week, defi crypto assets saw significant increases. Seven days ago, the total value locked (TVL) across a myriad of defi applications recorded by defipulse.com shows the TVL was around $55 billion. The TVL metric has since increased to the current $65 billion recorded on July 27. Decentralized exchange (dex) statistics show that there was $2.33 billion in trade volume recorded on popular dex platforms over the last 24 hours. Seven-day data indicates $15 billion in global swaps were recorded, and Uniswap captured 64% of that volume. These stats represent ETH-based dex platforms only. Uniswap’s volume trade volume is followed by Sushiswap (9.6%), Curve (7.8%), and 0x Native (5.5%). Defi tokens stemming from applications like Uniswap, Sushiswap, and Aave saw double-digit gains after BTC’s short squeeze on Sunday evening. What do you think about the recent defi action over the last week? Let us know what you think about this subject in the comments section below. View the full article

The growth and popularity of community inclusion cryptocurrencies in Kenya continues to soar with the country’s rural farmers being the latest group to embrace the financial technology. As one report reveals, some farmers in Kenya’s countryside are now accepting cryptocurrency as payment while others are using the same to buy important supplies. Use of Sarafu Cryptocurrency Helps Farmers Save Money According to a report from media outlet VOA, one of the reasons this alternative monetary system has become popular is because it allows users to preserve their fiat currency savings. For instance, the report quotes Emmanuel Kahindi, a 26-year-old farmer from Kenya’s Kilifi, explaining how using this novel currency system helps him. Kahindi said: “Sarafu [the community inclusion cryptocurrency] helped me a lot especially because it makes me save my money, my Kenyan currency.” According to the report, Kahindi is using the sarafu to purchase items for the garden like seeds and fertilizer. The sarafu crypto coins, according to an explanation in the VOA report, are like vouchers that can be exchanged for goods or services of other users of the currency. So far, anyone with a Kenyan mobile phone line can enroll to become a user. Upon enrolling, users are given 50 sarafu for free. After that, they earn coins by selling a product or service to another user. Will Ruddick, the American economist who introduced this system for low-income urban customers, is quoted in the report asserting that this digital currency is intended to fill the fiat currency gap. He said: I think that’s where there is the most chronic lack of national currency. So, I think what’s happening, we’re filling a gap. People say look, the national ledger system, the national currency it is not available for us. We can’t measure our trade in this thing. Support for the Initiative Growing As previously reported by Bitcoin.com News, this community inclusion cryptocurrency initiative has been applauded by Kenya’s UN resident coordinator Stephen Jackson. In his commendation, the UN coordinator praised the blockchain anchored e-voucher system for its role in helping “vulnerable households access basic needs.” The Kenyan Red Cross has similarly praised the initiative. Meanwhile, in addition to receiving support from farmers and the UN, the sarafu cryptocurrency is also getting a thumbs up from some Kenyan academics. For instance, Bitange Ndemo, a senior lecturer at the University of Nairobi, thinks this type of cryptocurrency can be useful in other African countries. Ndemo gives an example of cobalt mines in the Democratic Republic of Congo as an area that needs a community inclusion cryptocurrency. He explained: “Nothing stops them from a cobalt coin based on the reserves they have in terms of cobalt. The country then can then raise sufficient resources to develop the country.” What are your thoughts on this use of cryptocurrency by Kenyan farmers? Tell us what you think in the comments section below. View the full article

The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency The International Monetary Fund (IMF) published a blog post on Monday discussing the topic of cryptocurrencies as legal tender. The post titled “Cryptoassets as National Currency? A Step Too Far” was authored by Tobias Adrian, the financial counselor and director of the IMF’s Monetary and Capital Markets Department, and Rhoda Weeks-Brown, general counsel and director of the IMF’s Legal Department. The post does not mention El Salvador, the Central American country which recently adopted bitcoin as legal tender alongside the U.S. dollar. The authors wrote: As national currency, cryptoassets — including bitcoin — come with substantial risks to macro-financial stability, financial integrity, consumer protection, and the environment. While acknowledging the advantages of crypto’s underlying technologies, the IMF directors insisted that governments “need to step up to provide these services … Attempting to make cryptoassets a national currency is an inadvisable shortcut.” Nonetheless, the directors do not believe that crypto assets will catch on as people in countries with stable economies will have “very little incentive to price or save” in crypto assets while less stable economies would prefer adopting “globally recognized reserve currency such as the dollar or euro.” A crypto asset might, however, “catch on as a vehicle for unbanked people to make payments, but not to store value,” they opined, emphasizing that “It would be immediately exchanged into real currency upon receipt.” The two IMF directors noted: Then again, real currency may not always be readily available, nor easily transferable. Moreover, in some countries, laws forbid or restrict payments in other forms of money. These could tip the balance towards widespread use of cryptoassets. The authors proceeded to warn about the “cost of widespread adoption of a crypto asset such as bitcoin.” Not only “households and businesses would spend significant time and resources choosing which money to hold as opposed to engaging in productive activities,” but government revenues would also “be exposed to exchange rate risk,” the wrote, adding: Also, monetary policy would lose bite. Central banks cannot set interest rates on a foreign currency. They warned that domestic prices could become highly unstable and financial integrity could also suffer. In addition, they said: “cryptoassets can be used to launder ill-gotten money, fund terrorism, and evade taxes. This could pose risks to a country’s financial system, fiscal balance, and relationships with foreign countries and correspondent banks.” There are also legal issues in adopting cryptocurrencies as legal tender. “Legal tender status requires that a means of payment be widely accessible. However, internet access and technology needed to transfer cryptoassets remains scarce in many countries, raising issues about fairness and financial inclusion,” they pointed out. Furthermore, “Changes to a country’s legal tender status and monetary unit typically require complex and widespread changes to monetary law to avoid creating a disjointed legal system.” Banks and other financial institutions could also be exposed to the massive fluctuations in cryptoasset prices, the IMF directors noted, adding that mining cryptocurrencies, such as bitcoin, requires “an enormous amount of electricity to power the computer networks.” Emphasizing that “The ecological implications of adopting these cryptoassets as a national currency could be dire,” they added: Moreover, widespread cryptoasset use would undermine consumer protection. Households and businesses could lose wealth through large swings in value, fraud, or cyber-attacks. What do you think about the comments by the IMF directors? Let us know in the comments section below. View the full article

U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that there could be potentially serious consequences if this market comes under stress.” Senator Warren Wants Quick Regulatory Response to Crypto Risks U.S. Senator Elizabeth Warren wrote a letter to Treasury Secretary Janet Yellen Monday outlining numerous concerns regarding the risks posed by cryptocurrency. “I am writing to you in your capacity as Chair of the Financial Stability Oversight Council (FSOC) regarding the need for a coordinated and cohesive regulatory strategy to mitigate the growing risks that cryptocurrencies pose to the financial system,” Warren wrote. She explained that the FSOC “is responsible for identifying and responding to emerging risks to financial stability.” The senator from Massachusetts described: I have become increasingly concerned about the dangers cryptocurrencies pose to investors, consumers, and the environment in the absence of sufficient regulation in the United States. She then raised concerns that “the demand for cryptocurrencies continues to grow and these assets become more embedded in our financial system.” She proceeded to outline some risks cryptocurrencies pose to the U.S. financial system, hedge funds, and other investment vehicles, including risks to banks, cyber attacks, and risks unique to stablecoins and decentralized finance (defi). “The council must determine whether these trends raise concerns beyond investor and consumer protection and extend to broader systemic vulnerabilities that could threaten financial stability,” Warren emphasized. “It is essential that the policy response to the risks posed by these assets is coordinated and holistic, rather than fragmented amongst individual financial agencies.” Senator Warren also proposed that the FSOC “take a leading role in developing a comprehensive regulatory regime for cryptocurrencies.” She wrote, “I urge FSOC to act with urgency and use its statutory authority to address cryptocurrencies’ risks and ensure the safety and stability of our financial system,” warning: The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that there could be potentially serious consequences if this market comes under stress. Earlier this month, Senator Warren called on the U.S. Securities and Exchange Commission (SEC) to “use its full authority” to address cryptocurrencies risks, emphasizing that “Congress must also step up to close these regulatory gaps.” What do you think about Senator Warren asking Treasury Secretary Yellen to take action urgently to mitigate cryptocurrency risks? Let us know in the comments section below. View the full article

Payments giant Mastercard has launched a new, global program for cryptocurrency startups. Seven crypto companies have already joined the program. Together with Mastercard, they will work to “expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets.” Mastercard’s New Crypto Program Mastercard announced Tuesday “a new Start Path global startup engagement program dedicated to supporting fast-growing digital assets, blockchain and cryptocurrency companies.” Seven startups have already joined the program. They will work with Mastercard “to expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets,” the announcement details. The startups include GK8, Mintable, Stacs, and Supraoracles. GK8 (Israel) is a self-managed end-to-end institutional crypto custody platform. Mintable (Singapore) is a non-fungible token (NFT) marketplace, Stacs (Singapore) provides a blockchain infrastructure for the financial industry, and Supraoracles (Switzerland) is a blockchain oracle. The other companies that have joined the program are Taurus, Uphold, and Domain Money. Taurus (Switzerland) provides enterprise-grade infrastructure to manage any digital assets, including crypto assets, digital currencies and tokenized assets covering issuance, custody, asset servicing and trading. Uphold (USA) is a crypto investment and payment service provider for consumers and businesses, and Domain Money (USA) looks to build an investment platform to bridge the gap between digital assets and traditional finance for retail investors. The Start Path program has helped more than 250 startups since 2014, the announcement notes. The program now provides crypto startups access to Mastercard’s “latest tools and solutions to help these companies scale their innovations and cutting-edge technologies.” Mastercard explained: “These startups use the program to connect with our ecosystem of banks, merchants, partners and digital players across the globe to deliver new solutions.” Jess Turner, executive vice president of New Digital Infrastructure and Fintech, commented that “Mastercard has been engaging with the digital currency ecosystem since 2015,” elaborating: As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry, and provide consumer protections and security. Part of our role is to forge the future of cryptocurrency, and we’re doing that by bridging mainstream financial principles with digital assets innovations. Last week, Mastercard announced an enhancement to its card program for cryptocurrency wallets and exchanges, with the aim to make it “simpler for partners to convert cryptocurrency to traditional fiat currency.” What do you think about Mastercard’s new program for crypto startups? Let us know in the comments section below. View the full article

Fireblocks, a blockchain infrastructure firm, raised $310 million in its most recent funding round, reaching a valuation of $2 billion. The company, which specializes in the custody of digital assets, is interested in bringing traditional assets to the blockchain realm. Fireblocks expects this trend of digitalization to keep growing in the recent future. Fireblocks Raises $310 Million in Series D Funding Round Fireblocks, a custody and blockchain infrastructure company, raised $310 million in its Series D funding round. The new investment took the valuation of the company to $2.2 billion, tripling its value since the Series C funding round last February. The round had the confirmed participation of six investments firms: Sequoia Capital, Stripes, Spark Capital, Coatue, DRW Venture capital, and SCB 10X, the venture arm of Thailand’s Siam Commercial Bank. The company aims to use these funds to bring traditional assets and products to the blockchain. Fireblocks’ CEO Michael Shaulov stated on the subject that: Timing is everything and I think right now it’s the beginning of the real opportunity to do it. We have seen quite a lot of projects and essentially the technology and the appetite to do it has reached the most senior levels of those banks. Fireblocks claims to be already working with more than 70 banks at a worldwide level to lend them its infrastructure to manage cryptocurrency assets and to tokenize some of their assets for other purposes. Shaulov detailed: Our platform creates highly secure wallets for cryptocurrencies and digital assets where institutions can store their funds or their customer funds and also get security insurance. Ethereum Controversy The company has managed to grow immensely even with the latest cryptocurrency boom. However, Fireblocks has also faced some problems regarding its Ethereum custody service. The company was sued last month by Stakehound, a custody platform that allegedly lost access to 38,178 ether due to negligence. At the time, Stakehound stated the loss was actually caused by a “human error committed by an employee of the defendants, who worked in an unsuitable work environment.” However, Fireblocks answered quickly denying its responsibility in the event. Shaulov stated: “It had nothing to do with our real service that we are providing to over 400 clients right now, none of the wallets of our clients were affected, including by the way [Stakehound’s] wallets, they’re still using the wallets that we are providing them. What do you think of the latest Fireblocks’ funding round? Tell us in the comments section below. View the full article

Following the announcement from the National Basketball Association’s (NBA) Boston Celtics, the Cleveland Cavaliers has officially partnered with the blockchain firm Socios.com. The partnership is aimed at increasing the Socios brand and awareness via the Cavaliers’ global asset platform. Socios Partners With the Cavs On July 26, Socios.com and the NBA team, the Cleveland Cavaliers, revealed a new partnership. The Socios company is a blockchain project that allows fans to become “superfans” by letting them influence “club-specific decisions, trade digital items, and access VIP experiences.” Socios says that currently the “team-based fan engagement elements and activations” tethered to the Cavaliers is still under review. However, Socios will leverage the Cavaliers global asset platform to boost brand awareness. For instance, in the upcoming 2021-22 NBA season, the Socios.com logo will be featured on the Cavs’ practice jersey just below the player’s number. Socios will also have access to offering brand presence using the in-venue with broadcast-visible LED courtside signage. Socios says the company is the Cavaliers’ first partner to “to leverage this unique branding opportunity.” “This partnership with Socios.com is another significant step forward as part of our ongoing exploration into blockchain technology and how it can be utilized within our business to grow and enhance fan engagement,” Mike Conley, the Cavaliers’ chief information officer said. “We share with Socios.com a mutual passion and drive for innovation and we are excited about the opportunities this relationship will bring as it continues to evolve into the future,” he added. The news concerning the partnership between Socios and the Cavaliers follows the recent collaboration announcement between Socios and the Boston Celtics. Socios revealed a partnership with the Boston basketball team during the first week of July. The partnership with the Celtics also gives Socios marketing rights like becoming the Celtic’s presenting partner of the team’s website. The deal between the Cavaliers and Socios is part of the company’s growth expansion in the United States. The announcement emphasizes that Socios is planning to increase the company’s presence in Europe, Asia, and South America in order to collaborate with the “world’s leading sporting properties. What do you think about the partnership between Socios and the Cavaliers? Let us know what you think about this subject in the comments section below. View the full article

According to a recent report, the first trust-less swap between the Bitcoin blockchain and Stacks protocol has been executed. The co-founder of the Stacks protocol, Muneeb Ali tweeted about the native bitcoin swap and said the progress is a big deal. Trust-less Native Bitcoin Swap Executed With an NFT Called ‘Boombox’ On July 23, a trust-less swap using the Stacks protocol and the Bitcoin (BTC) blockchain was settled onchain. The swap dubbed the “Catamaran Swap between BTC and STX” was discussed on the Reddit forum r/stacks. “The first trustless swap between [the] Bitcoin [blockchain] and Stacks chain is happening,” a user wrote on the forum. “It is similar to a submarine swap. However, I would call it catamaran swap because we have two chains on top of the water,” the individual added. Further into the Reddit thread, the individual notes that the swap was “successfully completed.” Native Bitcoin swaps are now live! Why is this a big deal? Tweet thread👇 — muneeb.btc (@muneeb) July 26, 2021 People can see the swap conditions as defined on the Stacks chain and then the bitcoin transfer and the verification. According to the description, the asset swapped was a non-fungible token (NFT) asset called “Boombox (b-12).” The creator of the Reddit post wrote that the “swap demonstrates that you can trigger trustless actions like asset transfers by sending bitcoins from one address to another.” The individual added that the feature gives Bitcoin a “new dimension” because “transfers can be inspected and validated by smart contracts on the Stacks blockchain.” The Stacks project is considered a Layer-1 blockchain that leverages the Bitcoin (BTC) blockchain as the base layer. Validation is provided by proof-of-transfer between both networks and similar to Ethereum’s Solidity programming language, Stacks has a programming language called Clarity. The co-founder of Stacks, Muneeb Ali, tweeted about the milestone on Monday, as he wholeheartedly believes it’s a watershed moment. “Users can do trustless BTC swaps to stablecoins, derivatives, perpetuals, and other crypto assets,” Ali stressed in his Tweet. “All by pure bitcoin transactions on the main BTC chain. Users can purchase any digital assets (like NFTs and decentralized domains).” Ali further remarked that it was a big deal and stated: “Bitcoin has established itself as digital gold, but you can’t use BTC to trade without going through: (a) centralized exchanges or (b) alt blockchains w/ wrapped [bitcoin]. Not anymore.” Muneeb Ali Says Trust-less Swaps Are a ‘Big Deal,’ Automated Market Maker ALEX Revealed The computer scientist and Stacks co-founder said that wrapped bitcoin is “not bitcoin” and said that many bitcoiners don’t trust the network models that house these crypto assets. As far as centralized exchange (cex) platforms, Ali mentions that there’s counterparty risk involved and users need to pass KYC requirements. “All that changes now,” Ali said. “Stacks is a unique L1 blockchain that enables cross-chain transactions with Bitcoin: smart contracts that work with pure bitcoin transactions. Using Stacks, developers have built trustless swaps with native BTC,” the Stacks executive detailed. Ali also said that usd coin (USDC) will soon be supported and that “trust-less BTC/USDC swaps can be possible.” He added that Ethereum features are possible directly on Bitcoin, and users can create “Uniswap-like AMMs (Automated Market Makers) built around native BTC swaps, [and] do pure BTC transactions to interact.” Moreover, Ali highlighted that these features will come with the robust security of the BTC blockchain. The Stacks executive’s tweetstorm continued: Bitcoin is sovereign money. An entire open financial world will be created around Bitcoin. Native BTC swaps to new assets are a foundational building block of Bitcoin defi. Bitcoin eating the banks. Of course, a few people mentioned to Ali that the project Thorchain has been doing trust-less swaps for quite some time now. In fact, the popular peer-to-peer trading platform Shapeshift leverages Thorchain’s tech to complete native swaps. Although, someone was quick to point out that Thorchain has been having some issues with hacks in recent times. The next day, the Stacks executive mentioned the Automated Market Maker (AMM) project being built on the protocol called ALEX. The ALEX project describes how the protocol works in a blog post published on Tuesday. Yesterday, we saw trust-less Bitcoin swaps; today, a new AMM ALEX came out built on Stacks + Bitcoin. The Bitcoin revolution is unstoppable. — muneeb.btc (@muneeb) July 27, 2021 According to the website and the recent blog post, the AMM allows users to lend, earn and borrow bitcoin with minimized risk and maximized returns. In a tweet, the ALEX Twitter account says that the AMM “helps crypto users preserve their capital and maximize the value of their assets – we do this by offering fixed-rate lending/borrowing and superior LTV with higher security and lower fees.” Stacks Has Stiff Competition The Stacks team still has some stiff competition with projects like Thorchain, Badger DAO, and RSK. Many of which already have fully operational defi applications that allow people to chase liquidity pools and other types of defi protocols. Alongside this, despite Ali’s claim that people don’t trust the network models with concepts like wrapped bitcoins, the Ethereum (ETH) and Binance Smart Chain (BSC) has an enormous lead over projects like Stacks, Badger, RSK, Liquid, and Thorchain combined. During the last two years, ETH and BSC have seen a plethora of projects that allow cross-chain swaps, synthetic and wrapped bitcoins, stablecoins, AMMs, lending pools, and decentralized exchange (dex) platforms. Just on the Ethereum chain alone, there’s WBTC, HBTC, RENBTC, SBTC, PBTC, TBTC, and IMBTC which adds up to a whopping 250,729 bitcoin housed on the ETH network. What do you think about the swap between Stacks and the Bitcoin blockchain and the AMM ALEX? Let us know what you think about this subject in the comments section below. View the full article

Goldman Sachs, one of the biggest banking institutions in the world, has filed an application to offer an Exchange Traded Fund (ETF) linked to the performance of decentralized finance (defi) companies. The instrument, if approved, would help institutions and retail investors gain exposure to defi assets with the help of a regulated bank like Goldman Sachs. Goldman Sachs Proposes Defi ETF Goldman Sachs, one of leading commercial banks in the world, has introduced an application to the SEC to offer a defi-linked ETF. The defined ETF is called “Goldman Sachs Innovate Defi and Blockchain Equity ETF,” and it would seek to provide exposure to these technologies for regulated institutions. The performance of the fund would be linked to the Solactive Blockchain Technology Performance-Index. This index follows a portfolio of tech industries that are invested in blockchain technologies. The index includes companies like Nokia, Alphabet, IBM, Microsoft, and Overstock. This would be the first ETF that aims to capitalize on the popularity that the defi sector has experienced this year. As Bitcoin.com News reported in June, Goldman Sachs has been courting the cryptocurrency sector recently, having partnered with Galaxy Digital to provide bitcoin futures products. Big Banks Go for Crypto Domination This filing is just another piece of evidence that indicates big banks are now interested in bringing their services and structures to the cryptocurrency market. While many of these disregarded cryptocurrency in the beginning, they are now focused on integrating investment products that are designed to bring traditional investors to the crypto sphere. Goldman Sachs released a note on the state of the cryptocurrency market earlier this month when it stated that Ether could surpass Bitcoin as the most important crypto because the former has the “highest real use potential.” This view of the crypto ecosystem could have fueled the ETF application made by the investment bank, focused on following defi and blockchain-based companies. A recent survey made by the bank also concluded that high net worth families are turning to crypto as an investment vehicle, due to several factors. These include “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.” The survey points out there is a real audience expecting cryptocurrency investment products coming from regulated sources. What do you think about the Goldman Sachs defi ETF application? Tell us in the comments section below. View the full article

According to regional reports, the Burger King franchise in Brazil has introduced a new type of food specifically made for canines called the “Dogeppr.” The new product is a dog biscuit that canine owners can purchase for their pets and the company is accepting dogecoin crypto payments for Dogeppr purchases. Burger King Brazil Introduces the Dogeppr — Company Accepts Dogecoin for Meat-Flavored Biscuits At a number of select locations, the Burger King franchise in Brazil has announced that the firm is accepting dogecoin (DOGE) payments for a new dog biscuit the company recently introduced. “Now you can buy Dogepper with dogecoin, take advantage of it,” the Burger King Brazil advertisement reads. “What is the best way to pay for a product aimed at dogs? Obviously, Dogecoins,” the restaurant chain’s advertisement adds. Customers can get a Dogepper added to their value meals as well. In order to purchase a Dogepper, a customer needs to check the availability and then choose the selected amount of dog biscuits they want to purchase. A Dogepper costs three dogecoins according to the website and there are value meals that include the dog treat. After filling out the registration form, the customer transfers the DOGE to Burger King (BK) Brazil’s wallet. The Dogepper can be delivered by the BK Delivery, Ifood, Rappi, Uber Eats, and 99 Food mobile applications depending on availability. If the customer doesn’t have DOGE, they can still buy the biscuit with Brazilian real (BRL). The advertisement states: The biscuits, which carry the characteristic of the famous grilled meat BK flavor, can be purchased for the value of three dogecoins in a simple transaction: the transfer of DOGE from the consumer wallet directly to the DOGE wallet of Burger King. Dogecoin Proceeds From Dogepper Sales Will Go to Animal Protection NGOs According to BK Brazil, the company will be using a portion of Dogepper proceeds to help animal protection non-governmental organizations (NGOs). BK Brazil’s dogecoin announcement explains the franchise has partnered with an animal protection NGO called Petlove. The Dogepper will only be marketed and available for a limited time in the South American country. “We know that enjoying a Whopper in peace, in the comfort of your home, is not an easy task for a mother or father of a pet,” Burger King Brazil concludes. “But also, how can we blame them? The smell of grilled barbecue meat goes far and gives the dogs a stir.” The official Burger King Twitter account regularly tweets about the crypto asset dogecoin (DOGE). In addition to the promotion in Brazil, Burger King’s official Twitter account often tweets about the crypto asset that features the likeness of a Shibi Inu. When the men’s grooming products company Axe released the Dogecan body spray, Burger King’s Twitter account said: “Please tell me you saved us a dogecan.” The Axe Twitter account replied and said they would bring it on the rocket, implying dogecoin was going to the moon. What do you think about the Burger King franchise in Brazil accepting dogecoin for grilled meat-flavored dog biscuits? Let us know what you think about this subject in the comments section below. View the full article

Bitcoin’s hashrate has slowly crept back up between 85 exahash per second (EH/s) to 125 EH/s on July 14. The increase in hashpower has made it so the next mining difficulty change will increase for the first time in eight weeks. The four consecutive difficulty drops turned out to be the largest slide in Bitcoin’s lifetime, and that’s seemingly coming to an end in four days. Bitcoin’s Hashrate Moves Northbound The price of bitcoin (BTC) dropped for a few consecutive weeks, and during the same time frame, China’s crackdown on bitcoin miners was also happening. On May 15, bitcoin’s price began sliding from just above the $50K handle to end up just above the $30K zone on May 19. A price drop essentially removes revenue from bitcoin miners and when BTC started sliding on May 15, the mining difficulty had jumped two days earlier, up 21.53% higher than the adjustment before. Because it was over 21% more difficult for miners to find a block, the next two weeks were grueling. Bitcoin hashrate (90-day chart) on July 27, 2021. On top of this, what followed was the Chinese government — in various provinces — cracking down on bitcoin miners and banning the act within specific areas. Miners taken by surprise were told they needed to shut down facilities by a certain date. Prior to June 9, and two small dips to 137 EH/s, the hashrate managed to remain above 150 EH/s with the difficulty 21% higher. However, China’s actions had impacted Chinese bitcoin miners a great deal and on June 28, the hashrate was only 66 EH/s. Luckily, bitcoin miners got the first downward difficulty adjustment on May 29 when it slid 15.97%. As the price of BTC got worse, making it harder for miners to profit, the entities that help secure the blockchain benefitted from three more downward difficulty drops. Difficulty Expected to Increase 3-5% All four consecutive mining difficulty drops made it 54% easier to find BTC blocks over the last two weeks, in comparison to the difficulty height prior to May 13. The consecutive downward adjustments will likely change in four days with a possible increase of around 3-5%. Bitcoin difficulty on July 27, 2021, shows a possible increase of around 4.4% in four days. If the estimate comes to fruition it will still be close to 50% easier to find BTC blocks than it was before mid-May 2021. However, it will depend on what happens within the next four days as far as hashrate is concerned. If the hashrate increases a great deal from now until then, the difficulty could climb higher than 5%. If the global hashpower was to decrease dramatically, the estimated increase could get nullified and revert back to another decrease. At the current hashrate, a 3-5% increase is expected which shouldn’t be too grueling for miners to manage. At the time of writing, the top bitcoin mining pool is Antpool with 19.26% of the hashrate and 19 EH/s. Antpool is followed by Binance pool (12.47%), F2pool (11.82%), Poolin (11.38%), and Viabtc (10.50%). What do you think about the expected difficulty adjustment increase in four days? Let us know what you think about this subject in the comments section below. View the full article