Month: July 2022

Xiaomi Files Patent to Create Its Own Blockchain-Powered Virtual Characters – Blockchain Bitcoin News

boss

Xiaomi, one of the biggest mobile phone and tech companies in the world, has introduced a patent that implements blockchain technology for the creation of its own virtual characters. The patent, introduced in China, mentions that the creation of these characters will be randomized thanks to the introduction of a gene sequence, responsible for determining the looks of the character. Xiaomi Introduces Blockchain in Character Generation Patent More and more industries are including blockchain as part of their new products due to its decentralized and immutable traits. Xiaomi,…

Prince Philip of Serbia calms rumors of Arab country Bitcoin adoption

boss

Prince Filip Karađorđević, known as Philip Karageorgevitch in English, placated rumors that an Arab country would “soon” adopt Bitcoin (BTC) as legal tender. In an interview Philip delivered from Serbia, the prince explained that Bitcoin adoption is an inevitability for all countries. As a result of the thesis he first shared on a Bitcoin Reserves podcast, some news outlets jumped at the comments. Headlines that an Arab country would soon adopt Bitcoin quickly disseminated. However, as a Bitcoin advocate, Philip expounded that Bitcoin adoption is, in fact, inevitable for all…

Taiwan Bans Cryptocurrency Purchases with Credit Cards

boss

Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), is setting the ground to ban the use of credit cards for the purchase of digital currencies within its jurisdiction. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. As reported by Forkast, the regulator asked banks and credit card companies not to partner with cryptocurrency service providers as merchants. The FSC already issued a letter to the banking association earlier this month. The FSC…

3AC founders reveal ties to Terra founder, blame overconfidence for collapse

boss

The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of no known whereabouts. In an interview with Bloomberg, the crypto hedge fund’s two founders Su Zhu and Kyle Davies admitted that the overconfidence born out of a multiyear bull market, where lenders saw their value swell by virtue of financing firms like 3AC, led to a series of bad decisions that should have been avoided. Zhu also revealed their closeness to Terra…

Crypto.com scores regulatory approval from Cyprus SEC

Singapore-based cryptocurrency exchange Crypto.com continues to aggressively expand its reach, becoming the latest crypto firm officially authorized to operate in Cyprus. Crypto.com has received regulatory approval from the Cyprus Securities and Exchange Commission (CySEC), the firm announced to Cointelegraph on July 22. The approval enables Crypto.com to offer a number of products and services to customers in Cyprus in compliance with local regulations. The new regulatory milestone comes in line with Crypto.com’s growing global presence as the firm has been actively expanding its operations, receiving approvals to operate in countries…

Binance Says It Does Not Stake or Lend ‘Locked’ DOGE

Therefore, DOGE, LTC, and BTC holders do not have the option of staking their coins on a network individually or through an exchange in return for rewards. Only native tokens of PoS blockchains like Polkadot, Cardano, and Avalanche can be staked to earn rewards, representing a passive income. (Ethereum, which was originally designed as a PoW blockchain, is in the process of transitioning to a PoS blockchain). Source

Blockchain and cybersecurity awareness on the rise: PolySwarm CEO

As the blockchain space becomes more extensive, cybersecurity becomes a more crucial requirement for many. Because of this, PolySwarm CEO Steve Bassi argued that there is a need to leverage blockchain for cybersecurity. Bassi told Cointelegraph that while the awareness of blockchain technology and security is on the rise, the use of blockchain within cybersecurity is still in its early days. “Awareness about cyber security and crypto, especially over the last five years, increased more than any time during my professional security career,” he said. Despite the rise in awareness, the…

Buying crypto with credit card is now indirectly banned in Taiwan

boss

Taiwan’s Financial Supervisory Commission (FSC), a chief financial regulator, issued a note to the banking industry, indicating that they should not grant the virtual assets providers (VASPs) the status of merchant in operations with credit card holders. That means a de-facto ban on buying crypto with a credit card on the island.  As the local media reported on Thursday, July 21, The Financial Supervisory Commission sent a letter to the Association of Banks in early July, reminding the members of the Association of Banks that virtual assets are highly speculative…

How Crypto and Web 3.0 Will Impact YouTube

boss

The numerous ways cryptocurrency and Web3 have been beneficial to industries are sometimes underrepresented. Businesses, entrepreneurs, investors, and individuals are reaping the rewards of recent advancements in the Web3 space, and, not to be left out, the video and streaming industry is already starting to reap the benefits of its ongoing integration with Web3. With the introduction of a Watch-to-Earn concept (W2E), Web3 aims to revolutionize the video space from an industry focused on profit for corporations to one that is more inclusive. Web3 is creating a system of balance…