Month: June 2023

Crypto enthusiast Tsai to steer Alibaba

Alibaba’s leadership reshuffle puts Joseph Tsai, a known crypto enthusiast, in the chairman’s seat, suggesting possible future crypto initiatives. However, given China’s cautious stance on cryptocurrencies, how this change will play out remains to be seen. On June 20, Alibaba revealed that one of its co-founders, Joseph Tsai, is set to become Chairman in September 2023. As a vocal supporter of cryptocurrency and an active web3 investor, Tsai’s elevation offers a new narrative for crypto enthusiasts. Tsai’s fascination with the world of blockchain and crypto is no secret. It all…

The layer-1 of a successful Web3 marketing strategy

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Building on a blockchain follows similar fundamental principles to building in real life. First, you establish the foundations, then you can start laying the bricks, and only once it’s built can someone begin experiencing the building’s purpose. With blockchain, establishing a foundation involves selecting (or even designing) a first layer. Laying the bricks is akin to writing the platform code, and only then the user experience can begin.  So why, if we know the process involved in building a successful, sustainable structure from scratch, do we ignore it when it…

Arbol Unveils AI and Blockchain-Powered Climate Insurance Platform dRe

The platform, dubbed dRe, is specifically designed for reinsurance, meaning insurance for insurance companies, and is currently focused towards severe storm catastrophes. “Leveraging validated weather data from leading decentralized climate data network, dClimate, and Chainlink’s industry-standard decentralized oracle network, the platform triggers a smart contract based on wind speed and location for specific peril events,” the startup said in a statement sent to CoinDesk. Source

Investing in Web3 is a ‘hedge against disruption’ — VC exec

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The crypto space has been facing waves of uncertainty in recent months, with looming regulations from authorities worldwide and a lingering market downturn.  Despite the state of the industry, investors are still backing new ventures in the space. Data shows that in 2022 alone, European decentralized finance startups experienced increased venture capital (VC) funding of almost 120%. Cointelegraph spoke with Martin El-Khouri, a senior director at Bertelsmann Investments, during the Proof of Talk blockchain conference in Paris about why major investment firms still see Web3 as a way forward. Proof of Talk…

European Investment Bank taps blockchain for Climate Awareness Bond

The European Investment Bank (EIB) has issued a blockchain-based digitial bond powered by environmentally-incentivized node infrastructure. An announcement from the financial institution outlined the key points of a ‘digital native green bond’ denominated in Swedish krona. The 1 billion kr bond is set to offer a 3.638% fixed rate over two years to institutional investors. The Climate Awareness Bond is also being touted as the first blockchain-based bond to be registered on the Luxembourg Stock Exchange Securities Official List and displayed on the Luxembourg Green Exchange. The bond will operate…

4 things that can spark the next Bitcoin bull cycle

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Bitcoin (BTC) has dropped nearly 15% from its yearly high of around $31,000, with the recent regulatory crackdowns on Coinbase and Binance crypto exchanges and the Federal Reserve’s hawkish forward guidance accelerating its selloff. Still, Bitcoin is up 60% year-to-date (YTD), holding above a technical support level of $25,000. Moreover, a new bull cycle can begin for a few reasons. Bitcoin halving The next Bitcoin halving, a pre-programmed event that slashes the cryptocurrency’s supply rate by half every four years, is in April 2024. The previous three Bitcoin halvings (2012,…

Deutsche Bank reportedly applies for digital asset custody license from BaFin

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Germany’s largest banking institution, Deutsche Bank, has reportedly applied for a digital asset custody license to the country’s financial regulator, the Federal Financial Supervisory Authority, or BaFin, in a bid to expand its revenue streams, Bloomberg reported. This comes after a similar shift from the bank’s investment arm, DWS Group, and aims to expand on digital asset custody services, including cryptocurrencies. DWS Group had previously indicated an interest in investing in two German crypto firms. Companies negotiating with DWS Group included Deutsche Digital Assets, a crypto exchange-traded products provider, and market maker…

Tokenization Might Be a $5T Opportunity: Bernstein

The benefits of tokenization are simple, the process brings operational efficiencies and improved liquidity and accessibility, Bernstein said in a research report on Tuesday. Tokenization is the process by which real-world assets are converted into blockchain-based tokens. Bernstein estimates that the size of the tokenization opportunity could be as much as $5 trillion over the next five years, led by stablecoins and central bank digital currencies (CBDC), private market funds, securities and real estate. Currency tokenization, via stablecoins and central bank digital currencies, will see application in on-chain deposits and…

UK Government Set to Pass FSMB Crypto and Stablecoins Regulations into Law

Initially, the bill covered only stablecoins. However, it was amended to include all cryptos and regulated activity. The bill (FSMB) that proposes the regulation of stablecoin and crypto regulation in the UK has been approved by the second chamber of the Houses of Parliament, the House of Lords. The UK government is moving forward on the Financial Services and Markets Bill (FSMB), which could support crypto adoption in the country. The bill proposes stablecoin and crypto regulation. In a meeting of the UK parliament’s House of Lords, many members advocated passing…

IMF’s CBDC push gets feedback from the crypto community: ‘No one wants this’

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As the International Monetary Fund (IMF) continues its effort to advance the technologies behind central bank digital currencies (CBDCs), some members of the crypto community have reacted strongly against the IMF’s efforts to further the initiative.  In a CBDC policy roundtable on June 19, the IMF’s director of the monetary and capital markets department, Tobias Adrian, presented a new platform concept for cross-border payments. This includes a blueprint for a payment system that uses one ledger to record CBDC transactions. According to Adrian, the “XC platform” will have a single ledger…