Day: April 27, 2023

California approves blockchain-based digital wallet for gov’t services

The county of Santa Cruz in northern California is one of the latest to adopt and implement the usage of blockchain-based solutions on a governmental level.  In a meeting of the Board of Supervisors for the County of Santa Cruz held on April 25, the members unanimously decided to go forward with implementing the usage of digital wallets, for government services and official documentation purposes. According to the final consensus of the meeting, the white-label digital wallet powered by HUMBL will launch a 3-stage pilot program starting in July 2023.…

Sustainable Bitcoin Protocol and Crypto Miner Crusoe Energy Piloting a Waste Gas Methodology

Ensuring that this gas would otherwise be flared, adding onto greenhouse gases, is key to the methodology. SBP wants to “ensure that using this waste gas is not perpetuating the problem,” whilst “recognizing that oil and gas will be used for many years to come,” said Brad van Voorhees, co-founder and CEO of SBP. “When done responsibly, utilizing this waste gas is actually really the ideal sort of energy transition process,” he said. Source BitcoinCrusoeCryptoEnergyGasMethodologyMinerPilotingProtocolSustainableWaste CryptoX Portal

Whatever happened to EOS? Community shoots for unlikely comeback – Cointelegraph Magazine

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Whatever happened to EOS? After the biggest ICO in history, the former top 10 token now languishes around number 53. But the community has since taken back control and is determined to restore the smart contract platform to its former glory. If you’re a newcomer to the crypto industry, you may not even be familiar with The Biggest ICO in History, which launched EOS. EOS began in June 2018 with great fanfare, an active community and strong tech. Led by Dan Larimer, of Steemit and Bitshares fame, there was a…

How the law was made and what it means for decentralized business

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In March, the Utah State Legislature passed the Utah DAO Act, granting legal recognition and limited liability protections to decentralized autonomous organizations (DAO) in the state. DAOs by default are not recognized as legal entities, and giving these organizations legal status in Utah could help clear up regulatory concerns.  David Lemke, chief financial officer at crypto wallet Giddy — and member of Utah’s Blockchain and Digital Innovation Task Force — and Utah Representative Trevor Lee both authored the bill before it was presented to the Utah State Legislature. “Our goal…

Neobank introduces soulbound NFTs for wallet holders’ KYC information

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The neobank Cogni has announced that it is rolling out soulbound nonfungible tokens containing Know Your Customer (KYC) information to holders of its crypto wallet. The Polygon-based NFT will transfer customers’ “Web2” KYC verification done by the bank at account opening into a Web3 environment. Cogni, which has United States Federal Deposit Insurance Corporation coverage through a traditional New York bank, introduced its noncustodial multichain crypto wallet in January. Users can send, receive and hold cryptocurrencies and NFTs in the wallet. Users can optionally mint the nontransferable soulbound NFT, which…

Bitcoin’s Price Could Increase Now That the Bitcoin Halving Is Less Than a Year Away

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The cycle repeats: Someday Bitcoin will outgrow its four-year price cycles. Until then, it’s “deja vu all over again.” In the bitcoin bear market of 2014-2015, the price gravitated to around $350 until finally capitulating to $200 and staying there for months. In the bitcoin bear market of 2018-2019, the price gravitated to around $6,000 until finally capitulating to $3,200 and staying there for months. And in the bitcoin bear market of 2022-2023, the price gravitated to around $28,000 until finally capitulating to $16,000 and staying there for months. In…

‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says – Finance Bitcoin News

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Current indicators suggest the European Central Bank (ECB) should raise the interest rate in May, the monetary authority’s chief economist said. Future increases will depend on the economic data but this is still not the right time to stop, according to Philip Lane who believes the bank has to bring inflation back to the 2% target “in a timely manner.” Leaving Interest Rate at Current Level Would Be ‘Inappropriate’ Despite Falling Inflation, Lane Says Inflation in the euro area has dropped significantly between October, when it peaked at 10.6%, and…