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Month: August 2022

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Web3 Platform support is now Available on Fireblocks’ Solana Virtual Asset Custody System

Fireblocks has added Solana compatibility, allowing its countless users to use the developer channel’s services and infrastructure.

 

 

Starting on Tuesday, Fireblocks customers will have direct exposure to Solana’s numerous decentralized finance (DeFi) and Web3 services, which the firm claims will help “alternative asset managers” and “capital market users.”

 

 

Solana will be integrated through Fireblocks’ Web3 Engine, a set of tools for builders working in the DeFi, GameFi, and NFT areas. The Fireblocks Web3 Engine was introduced in May this year. According to Fireblocks CEO Michael Shaulov, his firm’s Web3 suite provides Solana network builders with increased security while designing applications.

 

 

Solana has been the victim of many highly secure hacks this year, the most recent being an $8 million attack that exposed 7,000 network wallets.

 

 

Solana has prioritized decentralized finance in its network growth plan, recently announcing a $100 million investment to help DeFi entrepreneurs in South Korea through its venture division. DeFi Llama says the Solana network has 77 active DeFi technologies with a total value locked (TVL) of $1.43 billion. Solana is the 6th biggest DeFi chain in regards to cumulative TVL.

 

 

Fireblocks took advantage of the cryptocurrency bullish trend to emerge as one of the top powerful blockchain firms. The firm finished a $550 million Series E investment round in February this year, valued at $8 billion. The following month, it paid a reported $100 million for stablecoin transactions provider First Digital.

 

 

 

 

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Bitbase, a Cryptocurrency ATM Firm, is Planning to Launch Services in Venezuela this Year

Because of the importance of cryptocurrency assets in some nations, Latam states have become an appealing destination for crypto exchanges and firms. This is due to the region’s economic issues, including high inflation and depreciation rates. Bitbase, a bitcoin ATM and storage company located in Spain, is planning to commence activities in Venezuela later in the year.

 

 

The nation’s circumstances have made it an ideal field for expanding Bitcoin adoption. Bitbase plans to open many outlets across the country as it anticipates this momentum to persist.

 

 

Bitbase’s business strategy involves real storefronts where personnel explain how to use cryptocurrency and act as mediators for crypto transactions. This emphasis tries to attract consumers who value physically and would else be uninterested in cryptocurrencies.

 

 

The firm is now obtaining the staff required to manage and care for the consumers in these stores and establish crypto ATMs.

 

 

Moreover, Bitbase is already working out of the Spanish embassy’s global market and foreign enterprise department in Caracas. If it goes live this year, it will be one of the first foreign cryptocurrency businesses to function in Venezuela.

 

 

Bitbase expressed interest in joining the Venezuelan marketplace in February when De Los Reyes suggested that the firm might reap the benefits of the nation’s economic opening. Similarly, the business entered Latam in July by launching its first shop in Paraguay.

 

 

 

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The United Nations Human Rights Chief Worries about Assange’s Deportation Case, while Wikileaks Keeps Raising Huge Sums of Cryptocurrency

The US wants Wikileaks creator Julian Assange deported to the US for leaking sensitive information supplied by US Military intelligence officer Chelsea Manning.

 

 

Assange enters a long list of people accused of spying under the 1917 Espionage Law, notably Edward Snowden, Emma Goldman,  Chelsea Manning, Alexander Berkman, and Daniel Ellsberg. While Ecuador sheltered Assange in 2012, he was taken out of the Ecuadorian embassy in London 7 years later on April 11, 2019, and has been battling US deportation ever since. 

 

 

The UN’s humanitarian director, Michelle Bachelet, expressed worry about deporting Assange to the US this week.

 

 

During a meeting with Assange’s wife and counsel, Bachelet stated that Assange’s prospective extradition and trial caused concern about media freedom and the potential chilling impact on analytical journalism and leak actions.

 

 

One of Assange’s attorneys, Jennifer Robinson, told the media that the issue would be sent to the European Court of Human Rights. According to Assange’s attorneys, the Wikileaks creator is being “imprisoned and penalized for his political ideas.” After Bachelet’s first remarks, the UN human rights chief stated that her agency would closely monitor the informant’s case.

 

 

 

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Web3 Engineers and Organizations can now Operate their Collator Nodes on the Astar Platform due to Blockdaemon

Astar Network, Polkadot’s technology center, is excited to introduce the addition of Blockdaemon as a collator. Blockdaemon is the globe’s biggest organizational-grade blockchain technology firm for node administration and staking. The collaboration will allow Blockdaemon corporate and private customers to launch their collator stations on the Astar Network.

 

 

Even though Astar allows customers who run their collator nodes, it is still technologically out of grasp for many people and organizations interested in accessing its system. The Blockdaemon range of services and solutions is a complete ‘node stack’ of blockchain technology that allows any qualified application to connect to the Astar Network.

 

 

Blockdaemon will give Websocket and RPC interfaces to applications desiring to operate on the system as a node network operator. Many projects, developers, and businesses find installing and managing Astar nodes to use these services impractical. Blockdaemon’s expertise in node blockchain knowledge, particularly for the Polkadot environment, substantially reduces the entry hurdle for businesses built on Astar.

 

 

The full node functionality provided by Blockdaemon is a vital on-ramp for Astar dApp vendors and institutes. Instead of relying on public infrastructure, which can be overburdened from various sources, or dealing with the continual issues of running an Astar node on one’s own, it is now viable to outsource Astar node responsibilities to Blockdaemon.

 

 

Collators keep parachains running by gathering client activities and creating state shift evidence for Relay Chain verifiers. Collator nodes, unlike verifiers, do not safeguard the system, and Validators will deny a parachain component if it is flawed.

 

 

More customers will boost the Astar network by contributing to block generation, transaction collection, and the generation of state transformation proofs for Relay Chain auditors.

 

 

 

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With FixxFi, Fintech Enters the Automotive and House Repairs Sectors

One of the criticisms about cryptos is, “What’s the purpose of owning a money system if you can’t utilize it?” While several initiatives attempt to generate value for their coins outside the blockchain environment, few businesses use or accept them. That will soon change.

 

 

FixxFi has created a cutting-edge Fintech system that offers integrated financial services to independent automotive and residential repair businesses. Funding for unanticipated repairs will be made available through a speedy approval procedure immediately at the repair center, utilizing off-chain and on-chain systems.

 

 

FixxFi, constructed on the Elrond Network, has its crypto, the FIXX token. The app has the distinct capacity to introduce more consumers to cryptocurrency while also alleviating some of their everyday concerns. Clients will also receive cryptocurrency prizes for timely reimbursements, rebates for being owners, and referral bonuses. Associates will be awarded for referrals and will earn $FIXX rebates if credit value targets are met.

 

 

An NFT offering a new perspective on the classic dividend will also be provided to early participants. Owners can stake their NFT to receive more FIXX compared to a proportion of corporate income.

 

 

As new solutions, such as FixxFi, arrive on the market, the future of cryptocurrency becomes clearer. Alternative funding and loan lines could be the first steps toward seeing crypto-related possibilities in various enterprises and incentive programs.

 

 

 

 

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Veve Collaborates with Marvel to Release Special Edition NFT Posters of Spider-Man and Black Panther

Marvel Entertainment keeps producing products for the NFT sector with the firm Veve Digital Collectibles. The two companies recently announced intentions to release three special editions of Marvel Artworks NFTs. Veve has already collaborated with Marvel, releasing Spider-Man and Captain America virtual products in 2021. Veve has also worked with Marvel’s rival DC Comics and Walt Disney.

 

 

The most recent Veve and Marvel NFT sale began today and will end on Friday, September 2. Bidding begins at $1,500 for each virtual collectible, and Veve claims that the sale is quiet, with “all offers masked from auction players and the highest price winning after the auction countdown ends.”

 

 

In the meantime, NFT sales have dropped by about 10% in the last month compared to the previous 1 month. As per the cryptoslam.io stats, NFT sales totaled $603.33 million in the previous month but $666.93 million in the previous month.

 

 

Immutable X is presently the 3rd biggest blockchain in respect of NFT sales this month, with Immutable X-based NFT sales increasing by 169% over the previous month. According to Google Trends, interest in the keyword “NFT” is quite low relative to January, when the search term received a GT score of 100.

 

 

 

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Amid Colorado’s Gasoline Flare Restriction, a Report Reveals that a Half-Dozen Gas and Oil Companies are Making Money in Bitcoin.

On August 29, 2022, author Mark Jaffe of the Colorado Sun wrote on Colorado-based gas and oil businesses collaborating with bitcoin miners and detailing how “they’re producing quite a bit of coin.”

 

 

The increase in the amount of bitcoin flare reduction facilities in Colorado is notable because the government’s legislative body, the Colorado Oil and Gas Conservation Commission (COGCC), has prohibited natural gas flaring. Any oil and gas business that desires to function in Colorado must link to a pipeline to minimize excess gas.

 

 

Although some businesses are “making a lot of money,” Jaffe notes that some in Colorado are closed. For example, the CS writer stated that Renegade Oil and Gas partnered with Datahawk Energy before being closed by Adams County’s oil and gas regulator. Christa Bruning, an Adams County spokesperson, declined to speak on the complaint filed in response to Renegade’s closure.

 

 

Silverman stated that the oil would have to be shuttled away, but D90 Energy showed the panel 6 Crusoe Energy flare gas reduction units installed at the company’s well site. Silverman informed attendees at the COGCC meeting that there will be “additional Crusoe units out there” for several years.

 

 

At a June meeting, Cully Cavness (Crusoe) stated that the firm’s technique cuts methane by 99.8% relative to 93% for conventional flaring. Crusoe recently received $505 million in April 2022, and it was revealed 3 days ago that the firm is suing a rival.

 

 

 

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Xbox CEO Phil Spencer is Skeptical of the Metaverse and Criticizes P2E Systems

Iribe announced they'd be using the Xbox One gamepad and Spencer announced they would support streaming from Xbox consoles into a virtual home theatre environment.

The virtual world and its existing notions have sparked controversy and controversy. Phil Spencer, Microsoft’s acting director of the Xbox business and CEO of gaming, expressed his skepticism about how the metaverse, or parallel universe, is presently being offered. Spencer claimed in discussion with Bloomberg that the multiverse is nothing novel and is tied to what players have been performing for some time.

 

 

He stated that, in his opinion, players had been part of the virtual world for three decades. These 3D shared universes that users have been engaging in for many years when playing games. He believes they’ve discovered a stronger relationship because they have a common goal.

 

 

Furthermore, Spencer noted that gamers might be perplexed by the theory of the multiverse because having a persona in a game and being a component of a virtual world with vocal communication is deemed inhabiting it.

 

 

Whereas other firms in the area are more receptive to play-to-earn (P2E) concepts and the mechanisms underlying them, Spencer has demonstrated he is wary of this new trend. 

 

 

The Xbox CEO blasted the goal of P2E games in the discussion. He stated that he is wary of play-to-earn strategies in particular. He says it’s like a hammer seeking a nail.

 

 

On the other hand, Spencer feels that such technology will be used in “interesting ways” in the future. The technology, which has gained some traction with blockchain games such as Axie Infinity, has yet to hit platforms such as the Xbox or the Sony Playstation 5.

 

 

 

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The Nigerian Central Bank has Reduced CBDC Trade Costs by 50%

In another measure targeted at increasing the acceptance and implementation of the e-naira CBDC, the CBN allegedly announced a 50% reduction in service costs for users and traders utilizing the virtual currency system.

 

 

Furthermore, according to a report, Nigerian companies that sign up to become e-naira traders have the potential to raise the volume of their individual e-commerce operations by 50%.

 

 

A Daily Trust report quotes Kingsley Obiora, the central bank’s deputy governor, saying that implementing the CBDC by Nigerian enterprises might enhance cash flow and increase the nation’s international trade activities.

 

 

According to Obiora, deploying global transactions in stage three of the e-naira program will enhance cross-border exchange by around 30%. Moreover, the low trading cost is predicted to enhance eNaira adoption (transaction rate and worth) and economic income production.

 

 

Obiora’s remarks, made during a trader onboarding session, come only days after Godwin Emefiele (CBN) stated that the CBDC had fewer than one million subscribers. 

 

 

According to Bitcoin.com news, the CBN is now aiming for a tenfold boost in the amount of e-naira clients.

 

 

Emefiele stated that the central bank would develop a function allowing individuals without bank accounts or cellphones to use the CBDC. Since then, the CBN has released a USSD code that it claims will increase financial access.

 

 

 

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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