Australia’s central bank launches 3-year program for wholesale CBDC
RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present.
Crypto influencer hit with bot claims after nabbing ‘best content creator’ award
Crypto influencer “Professor Crypto” deleted posts of him celebrating the award shortly after being accused of using bots to boost his following.
House Republicans demand SEC’s Gensler clarify crypto airdrops stance
US Representatives Tom Emmer and Patrick McHenry gave Gary Gensler until the end of the month to answer questions about the SEC’s approach to crypto airdrops.
South Korea’s crypto market growth fueled by rising Premium Index: Chainalysis
The Korea Premium Index drives price surges in South Korea’s crypto market, where institutional trading plays a pivotal role.
Bitcoin’s ‘local market structure’ could push BTC price to new all-time high — Analysts
Analysts say Bitcoin’s recent price action could be a sign that the path to new all-time highs has begun.
Deutsche Telekom announces Bitcoin mining plans at BTC Prague
Deutsche Telekom, one of the world’s leading integrated telecommunications companies, is reportedly planning to delve into the Bitcoin mining industry. The company’s subsidiary, T-Systems MMS, is taking the helm on this project, intending to enter the market through a partnership with Northern Data AG, an infrastructure solutions provider for Bitcoin mining. This partnership will entail T-Systems MMS providing a portion of their IP network to Northern Data for the mining operations, using the latest technology to achieve high levels of efficiency.
This move by Deutsche Telekom is seen as a testament to the increasing relevance and influence of cryptocurrencies, particularly Bitcoin, in the global financial landscape. The company’s decision to venture into Bitcoin mining further reinforces the growing acceptance and integration of digital currencies into the mainstream market. Given the current bullish trend of Bitcoin, this strategic move could potentially provide significant financial benefits for Deutsche Telekom.
Decentralized ID is the next “killer” Web3 use case: Cardano sustainability lead
Cardano, a blockchain platform for smart contracts, is making strides into the world of decentralized ID, presenting a new use case for Web3. Cardano’s decentralized ID solution, Atala PRISM, aims to provide users with control over their personal data, enhancing privacy and security. This solution will enable users to create a digital identity, share their credentials, and verify the legitimacy of these credentials without relying on any central authority, thus solving the inherent problems of data breaches, privacy invasion, and identity theft.
Atala PRISM is not only beneficial to individual users but also businesses and governments. For businesses, it simplifies the user verification process, reduces cost, and enhances customer trust. On the other hand, governments can leverage this solution to provide secure digital services to their citizens, ensuring that their personal data is in safe hands. As more platforms like Cardano tap into the potential of Web3, the future of the internet is set to become more decentralized, secure, and user-centric.
Tokenizing music catalogs: The next frontier for Web3 and the music industry
The music industry is undergoing a significant shift with the integration of blockchain technology, as discussed in the article on Cointelegraph. Blockchain tech, primarily through the concept of tokenization, is allowing artists to sell their music as NFTs (Non-Fungible Tokens), giving them more control over their work and a higher share of the profits. The process of tokenization allows an artist’s music catalog to be converted into a digital asset on a blockchain, which can then be bought, sold, or traded much like any other digital asset.
The process of tokenizing music catalogs is a part of the larger Web3 revolution. Web3 is the next generation of the internet, which aims to create a decentralized and user-centric online space. In this new system, artists will be able to monetize their work directly, without the need for middlemen like record labels or streaming platforms. This shift to a decentralized Web3 platform can potentially revolutionize the music industry, empowering artists and creators like never before.
Stablecoin act gives Congress alternative to overriding Biden’s SAB 121 veto
In a significant development for the cryptocurrency market, the Biden administration has indicated a possible veto of the proposed U.S. Stablecoin Bill. This legislation aims to regulate stablecoins, a type of cryptocurrency typically pegged to a reserve asset like the U.S. dollar, with the objective of mitigating potential risks to the financial system. The administration’s stance highlights the ongoing debate about the need for governmental oversight of digital currencies, an area that is rapidly evolving and expanding.
The potential veto could be seen as an attempt by the Biden administration to maintain a cautious approach towards the burgeoning crypto market. This approach reflects broader concerns about the growth of digital assets and their potential impact on traditional financial systems. The administration’s stance on the Stablecoin Bill illuminates the complex and often contentious relationship between governmental regulation and the world of cryptocurrency, a dynamic that will undoubtedly continue to shape the future of digital assets.
Polygon launches $720M Community Treasury for blockchain grants
Polygon, a well-known layer two solution for Ethereum, has recently unveiled a community treasury, set to be the largest of its kind in the cryptocurrency industry. The treasury, which has a value of $720 million, is being launched with the intention of bolstering the growth and development of the Polygon ecosystem. This move is part of Polygon’s larger strategy to strengthen its position in the market and encourage more developers and entrepreneurs to use its platform.
The funds in the community treasury will be distributed as grants, which will be directed towards developers, community members, and projects that contribute to the expansion of the Polygon network. The treasury will be governed by the community through a decentralized autonomous organization (DAO). This highlights Polygon’s commitment to decentralization and its belief in empowering the community to direct the future of the network. With this initiative, Polygon not only aims to foster innovation and development within its ecosystem, but also hopes to set a precedent for other blockchain platforms.