DeFi protocols have been hackers’ favorite targets since 2021. Now they’re preying on NFT projects too, a blockchain intelligence firm says.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Crypto Industry Receives Protection With New Blockchain Regulatory Bill
Member of the US House of Representatives and Majority Whip Tom Emmer has recently introduced a new bill to provide regulatory clarity for the blockchain and cryptocurrency industry. The bill is called the Blockchain Regulatory Act (BCRA).
According to Emmer, the purpose of this bill is to establish legal clarity for blockchain developers and service providers who do not hold or manage consumer funds. The bill proposes that these entities should not be considered money transmitters subject to “stringent” regulation.
Additionally, the BCRA is a bipartisan bill co-led by Representative Darren Soto of Florida, supported by members of both political parties. This support increases the chances of the bill passing through Congress.
Layer 1 Blockchain Protocol Algorand Hires Its First CFO
The new CFO, Matthew Commons, had several years of crypto and TradFi experiences.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Yuga Labs Launches ‘TwelveFold,’ An NFT Collection On The Bitcoin Blockchain
Alright, they’re not exactly NFTs. Nonetheless, ‘TwelveFold’ is the name of Yuga Labs new venture to build creative on Bitcoin. There’s been substantial hype and interest in this unique corner of the NFT community, powered by inquisitiveness and bolstered by your everday crypto degen. It’s led to a very ‘underground’ feel that is bound to not last much longer – as things often move quickly in this space.
What are Bitcoin NFTs all about? First: they’re ‘ordinals,’ not NFTs. And now that Yuga Labs is jumping in, we might find that this newfound interest from NFT collectors might not be just a fad.
Shopify Launches Comprehensive Blockchain Suite For Merchants
E-commerce giant Shopify has launched its new blockchain suite of products for merchants. This development is expected to improve user experience on web3-based stores hosted on Shopify. In addition, merchants can utilize token gating and leverage new features on the expanded wallet ecosystem.
Blockchain Suite Offers Shopify Users Great Benefits
According to Shopify’s blockchain team designer ryancreatescopy on Twitter, merchants can use new tools to build token gating apps on the e-commerce platform. Token gating is a common feature in the Web3 space and is a verification method for communities to provide exclusive access to certain events, contents, and drops.
China To Launch Research Center For Blockchain Innovation
China has decided to move deeper into blockchain technology after its ban on cryptocurrency transactions in 2021. A recent report from China Daily noted that the country is about to launch a research center for blockchain innovation in Beijing.
China’s National Blockchain Innovation Center will work with local universities, blockchain experts, and firms to explore core blockchain technologies.
China Readies To Boost Its Digital Infrastructure
According to the report, the research will yield results that will play vital roles in supporting China’s new digital infrastructure. The report noted that the innovation center would focus on basic blockchain theory, key technologies’ software, and hardware, including basic platform and verification networks.
Walmart Files For New Crypto, Blockchain Trademarks Via Sam’s Club
Sam’s Club, an American chain of membership-only retail warehouse clubs that is owned and operated by Walmart Inc., is now jumping into the digital and blockchain bandwagon by filing for crypto and NFT trademarks.
Sam’s Club is now treading the crypto waters as the retailer recently offered healthcare services that cater to the augmented reality and virtual space. The popular retailer filed a couple of trademarks that will allow it to manage NFTs, offer digital goods, and also provide crypto-based software.
Blockchain For Traceability: Thailand’s Biggest Food Exporter Uses Tech To Monitor Goods
Charoen Pokphand Foods Public Company (CP Foods) of Thailand, the country’s biggest food exporter, is set to integrate blockchain technology into its operations, expanding to shrimps and other products to guarantee freshness and quality.
For CP Foods the priority has always been to ensure that all products are guaranteed safe and of high quality for consumers.
The company said it is important to adapt to advanced tech by enabling blockchain traceability for accurate monitoring of products and supply chains.
The company has already begun its blockchain integration with its pork and fresh chicken products.
Conflux Token Spikes 60% as Blockchain Integrates China’s Version of Instagram
200 million users will now be able to display Conflux NFTs on their Little Red Book profile pages.
CoinDesk
UN To Deploy Stellar Blockchain To Transfer Crypto In Financial Aid For Ukranians
The crypto industry has faced many challenges in 2022 due to macros. Recent events such as the FTX crash and its contagion have further exacerbated the situation, but amid all this, crypto continues to find more utility in Ukraine. The most recent development indicates that blockchain technology is far from over and could be an alternative resort when traditional channels fail.
The war between Russia and Ukraine left millions of people stranded and the United Nations has sought out means to send help. Reports have revealed that the United Nations High Commissioner for Refugees (UNHCR) has partnered with Stellar Blockchain to send money to displaced persons in Ukraine.
Trading Shares Of Bitcoin Miner Argo Blockchain Suspended
A Friday operational update halted trading of the embattled bitcoin miner in the United Kingdom and United States.
- On Friday, the trading of shares of Argo Blockchain (NASDAQ: ARBK) was suspended in both the U.S. and U.K.
- Particular reasoning for the suspension was not provided.
- The suspension could indicate pending updates or changes to the firm.
In the released November operational update, the firm states, “The Company is endeavoring to complete such financing transactions to provide the Company with working capital sufficient for its present requirements.”
Riot Blockchain Announces Record High Hash Rate Capacity
Although hash rate capacity is at a record, mining conditions did lead to a relative underperformance in bitcoin received throughout the month.
Riot Blockchain has released its unaudited production and operations updates for November 2022. According to the release, the company produced 521 BTC, a 12% increase on its November 2021 production of 466 BTC. It sold 450 BTC, generating net proceeds of $ 8.1 million, and had a deployed fleet of 72,428 miners with a hash rate capacity of 7.7 exahashes per second (EH/s) on 30 November.
Top Public Companies Are Betting Big On Blockchain Technology
Blockchain technology is now so big that companies can no longer ignore it and some have already started taking the lead in integrating the technology into their businesses. The top companies around the world are currently betting big on the market, and according to a new report, a good chunk of the top 100 countries worldwide are already using blockchain technology.
Top Companies Using Blockchain Technology
The top 100 countries worldwide have trillions of dollars in market cap among them. They range from tech conglomerates to social media giants. But one thing these companies have in common is their ability to embrace new technology to further their businesses.
Turkey Ramps Up Efforts To Become The Next Crypto And Blockchain Hub
Turkish residents continuously maintain a bullish stance on crypto transactions despite the bear markets. Ismail H. Polat, a media lecturer at Kadir Has University in Istanbul, said the driving factor is the high inflation.
Recent reports show the Turkish crypto industry is working to build the crypto ecosystem amid the bear market. The Turkish blockchain industry players see the bear market as an opportunity to improve the ecosystem. They strive to do this by bringing home the popular Ethereum event DevCon7.
Turkey is among the countries with the highest interest in the crypto market. The community comprises Web3 startups, university clubs, blockchain developers, academics, and digital investors.
Token Waves School Approaches Blockchain Technology with Its Free Course in 20 Languages
Education and blockchain – two worlds that seem as though they have nothing in common, are being brought together in the form of Waves School, built on the Waves blockchain. Waves School is tackling the high barriers of entry into higher education as well as into the crypto world, through the launch of their one of a kind training academy.
Double Jump Tokyo Obtains Sega IP Rights For New Blockchain Game
Blockchain game developer Double Jump Tokyo has announced that the company has obtained rights to a Sega IP for use in a new game.
Double Jump Tokyo Gets License To Sega’s Sangokushi Taisen For New Blockchain Game
As revealed by the developer in a blogpost, the new game will focus on the theme of “Sangokushi” (Three Kingdoms).
This blockchain-based project will be a trading card game, and will feature artwork from Sega’s “Sangokushi Taisen” IP.
Sega is one of the most well-known names in gaming, with Sonic being the company’s most recognizable IP. The firm doesn’t just develop and distribute console videogames, but also arcades, merch, and other products.
New England Patriots Secure Official Blockchain Partner, Chain
The New England Patriots are in their post-Brady era, and as the NFL season gets into full swing, so too does the Patriots’ partnerships team. The club has locked in a new deal with NFT software firm Chain this week. Let’s look at the details of the deal, and what we can expect to see as the partnership comes to life in the months ahead.
The Patriots & Chain: What The Deal Looks Like
Blockchain investor Abraham Piha explains how Tornado Cash legal issues will affect the crypto market
Things have not been looking too good for the crypto market in recent months, with the market seemingly being gripped by one piece of bad news after another. To this point, on Aug. 8, the United States Department of the Treasury’s Office of Foreign Assets Control issued legal sanctions against digital currency mixer Tornado Cash.
As per the regulatory body, since the platform’s inception in 2019, it has been used for a host of illicit money laundering activities estimated to be worth $ 7 billion. Of this sum, it is estimated that $ 455 million was controlled by the notorious Lazarus Group, a North Korean state-sponsored hacking group. Additionally, Tornado Cash was also used to launder over $ 96 million of ill-gotten funds derived from June’s Harmony Bridge hack and $ 7.8 million from this month’s Nomad heist.
Film and Television Revolutionized by the Blockchain
Over the last few years, fans of television and film have seen a shift in content consumption during the highly public “streaming wars” around the world. The entertainment industry moved away from physical stores and DVDs, into the digital streaming model. Now, the blockchain and its decentralized philosophy offers fans a more immersive way to participate in the content they consume.
In this new model, fans will not only be able to stream content, but directly support the community by owning and operating Film Nodes and NFTs, while gaining access to talent through immersive experiences and even receive rewards while doing so. It also benefits Filmmakers and creators by giving them creative license and direct ownership over their vision.
Ticketmaster Teams With Dapper Labs’ Flow Blockchain For Live Event NFTs
Tickets have been associated with NFTs but have been largely untapped from some of the major conglomerates in the ticketing business to date. Ticketmaster could be looking to really get in the mix, however, with a renewed effort this week; Ticketmaster and Dapper Labs, creators and operators of the Flow blockchain, announced a partnership to spur growth in live event NFTs.
Ticketing is often cited among NFT advocates as one of the top potential use cases among NFTs beyond jpegs. Can ticketing unlock the next level of utility? A dominant powerhouse like Ticketmaster will be as strong as an advocate as humanly possible in the category. Let’s take a look at what we know from the newly budded partnership.
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