Month: June 2023

Web3 could bring it back

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Consider what it means to be a sports organization in 2023.  Is the success of their brand simply a parallel to the quality of each team’s performance, how proficiently an organization advertises their events and merchandise to their fans or simply defined by community, where consumers gather around the products and services that speak to each fan’s individual interests? It is in fact all of these things, and so much more.  Since the 1960s and with the gradual advancements in advertising, our perception of what it means to rally around…

Bitcoin Ordinals upgrade addresses ‘cursed inscriptions’ issue

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Renowned code sculptor and Ordinals theorist Raph has announced the release of v0.6.0, a new update to the protocol that treats the “cursed inscriptions” and improves RPC credential management. These inscriptions address a critical challenge in protocol development by enabling extensions without altering existing inscription numbers. The Ordinals protocol maintains backward compatibility by embracing cursed inscriptions while fostering innovation and growth. Just released a new version of ord (0.6.0), which implements the first steps in recognizing…

UBS to Complete Acquisition of Credit Suisse by Mid-Month

As part of a government-backed rescue plan earlier this year as well as a bid to prevent any financial market instability, UBS acquired Credit Suisse in a $3.2 billion deal. The long-awaited conclusion of the Credit Suisse Group AG (SWX: CSGN)  acquisition by investment banking giant UBS Group AG (SWX: UBSG) may happen “as early as June 12”. This will signify the birth of a massive Swiss bank with a balance sheet of $1.6 trillion. All that is left for the deal to be completed is its registration statement and…

Are Web3 apps under scrutiny?

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The rise of Web3 apps, or decentralized applications (dApps), has been nothing short of a journey in recent years. From blockchain-based social media platforms to non-fungible tokens (NFTs), the Web3 ecosystem has definitely started moving in a positive direction. However, as great as the positives are, there have been some bumps on the road and they don’t seem to be going away anytime soon. With the recent restrictions imposed by some of the biggest tech companies, the future of Web3 apps has come under scrutiny and is making the process…

JPMorgan partners with Indian banks to enable dollar trading via blockchain

Global financial giant JPMorgan has announced a strategic partnership with six major Indian banks to launch a blockchain-based platform to settle interbank dollar transactions. This latest move is part of a broader effort to promote the growth of Gujarat International Finance Tec-City (GIFT City), a project by the Indian government to establish a competitive financial hub to rival global centers such as Singapore, Hong Kong, Abu Dhabi Global Market (ADGM), and Dubai’s International Financial Centre. Kaustubh Kulkarni, the senior country officer for India and vice chairman of Asia Pacific at…

Paving the way for mass adoption

The DeFi revolution is transforming our financial landscape and empowering everyday people to take back control over their assets. However, the skill level necessary to practice DeFi successfully remains an obstacle to mass adoption. To overcome this roadblock and help grow decentralized finance, we need more DeFi aggregation services. What is DeFi aggregation? DeFi made simple Aggregators are platforms that combine several different DeFi protocols to create a more efficient and complete service for end users. For example, 1inch aggregates multiple DEXs to find the best routes with minimal gas…

US Treasury Set for Debt Issuance Worth $1T Following President Biden’s Signing of Debt Ceiling Bill

Economists predict the US Treasury’s forthcoming debt issuance will hit $1 trillion and may eventually cause economic stiffness. US President Joe Biden’s assent and signing of the bill suspending the federal debt ceiling will trigger new debt issuance. Already, observers expect the Treasury Department to sell $1 trillion worth of debt. On Saturday, President Biden officially signed the bill, which removed the US debt ceiling until Jan 1, 2025. Biden’s signature followed a relatively hurried process of deliberations and votes in the House of Representatives and the Senate. The Senate approved…

EU officials want all AI-generated content to be labeled

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Officials in the European Union have discussed additional measures that would make artificial intelligence (AI) tools, such as OpenAI’s ChatGPT, more transparent to the public. On June 5, European Commission deputy head Vera Jourova told the press that companies deploying generative AI tools with the “potential to generate disinformation” should place labels on their content as an effort to combat “fake news.” “Signatories who have services with a potential to disseminate AI generated disinformation should in turn put in place technology to recognize such content and clearly label this to…

Is Bitcoin Price (BTC) Heading Below $26K?

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Bitcoin (BTC) is down almost 2% over the last 24 hours and back below $27,000 at $26,700 as investors continue to weigh the implications of the U.S. debt ceiling deal and last Friday’s strong employment report. U.S. stock index futures are little-changed Monday morning following last week’s strong rally in equities. Laurent Kssis, crypto advisor at CEC Capital, sees bitcoin dropping below $26,000 this week. “With summer getting closer, no obvious catalysts, dealers are not keeping inventories and any large selling order may trigger selling pressure,” he said, noting that…