Month: September 2023

Blockchain could have prevented Nigeria’s naira scarcity — Local experts

Blockchain technology can help solve economic problems in Nigeria and throughout the African continent, according to a group of local blockchain experts who cited Nigeria’s currency flow shortage as a case study. At the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, stakeholders discussed the decision by the past government to mint new naira notes and Nigeria’s recent efforts to increase its Central Bank Digital Currency (CBDC) adoption which all led to a shortage in the flow of naira at…

Why 2024 Will Be The Highest Returning Year This Cycle

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In a recent comprehensive report by Capriole Investments, Charles Edwards presents a compelling case for why 2024 will be a pivotal year for Bitcoin, potentially offering the highest returns in its current four-year cycle. The report delves into multiple facets of Bitcoin’s future, including its role as an inflation hedge, the upcoming Halving event, and the impact of imminent ETF approvals. A Confluence Of Catalysts For Bitcoin Edwards begins by addressing the skepticism surrounding Bitcoin’s performance as an inflation hedge. “Bitcoin gets a hard rep for its performance coming out…

Ant Group launches a new blockchain brand for Web3 developers

Ant Group, the owner of the world’s largest mobile payment platform Alipay, revealed its new sub-brand under the name ZAN. The brand will focus on blockchain development and services for both institutional and individual Web3 developers.  The official press release, published on Sept. 8, cites a wide scope of technical products and services, which ZAN will offer to its clients. It starts with a solution to help Web3 companies issue and manage real-world assets (RWAs) in compliance with local regulatory requirements. Then it covers a series of technical products, including…

AVAX under pressure, QUBE emerges as formidable competitor

In crypto, projects always compete for dominance, reflected in their dips and expansions. Avalanche (AVAX), a smart contracts platform, has been under pressure, putting its near-term and short-term viability under scrutiny.  On the other hand, QUBE, the native token of InQubeta, is quietly emerging as a contender in crypto. This article explores AVAX’s challenges and the growing recognition of QUBE. InQubeta growing steadily As AVAX falls, QUBE is gaining recognition due to InQubeta’s features and fundamentals.  The project sits at the intersection of artificial intelligence (AI) and blockchain technology, a reason why…

Africa’s blockchain journey begins with poverty alleviation

There has been a resounding call for Nigeria, and Africa in general, to incorporate blockchain technology into its mainstream living. However, during a fireside chat involving stakeholders in the Nigerian blockchain community, it was noted that poverty has to be conquered first before blockchain technology can be properly incorporated into African society. At the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, GT Igwe Chrisent, the CEO of Sumotrust & Truzact, an online savings and investment platform stated that hunger…

ZTX’s Genesis Homes NFTs Break Records despite Bearish Market

The Web3 platform ZTX achieved a record-breaking sale of 4,000 Genesis Homes NFTs, showcasing enthusiasm for the metaverse despite a bearish NFT market. The Web3 platform focused on the metaverse ZTX backed by Jump Crypto, achieved a record-breaking sale of its inaugural collection of 4,000 Genesis Homes NFTs, despite the current bearish NFT market. According to the platform’s statement, the sale quickly sold out on August 30th within hours after being posted on the OpenSea platform, showcasing investors’ enthusiasm for virtual participation in the new metaverse world. ZTX’s Collection Has…

Can It Thrive Amid Declining Network Engagement?

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Binance Coin (BNB) finds itself in a precarious position, with its price rebound heavily contingent on a resurgence in network activity for BNB Chain. The decline in network activity has played a pivotal role in hindering price momentum for BNB, leaving investors and enthusiasts eager for a turnaround. BNB’s recent price action has been characterized by extended periods of sideways movement. The bears have proven resilient at the resistance level, preventing prices from breaching the $225 mark.  Currently, BNB is trading at $216.80, according to CoinGecko, with 24-hour gains of…

Kraken expands offerings in crypto derivatives, adds PayPal support in Europe and UK

Kraken, a crypto exchange, is making strategic moves to broaden its offerings in trading and payment. After FTX’s downfall last November, Kraken’s subsidiary Crypto Facilities aims to target the lucrative derivatives sector, which had $1.85 trillion in trading volume across centralized exchanges last month alone. Concurrently, Kraken is also widening its payment methods, introducing PayPal deposits for its UK and European customers. Crypto Facilities, acquired by Kraken in 2019, is presently in talks with the UK’s Financial Conduct Authority (FCA) for permission to expand its custodial services, Bloomberg reported on…

Decentralized Infura launch within months, Web2 cloud giants may join: Consensys

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A decentralized version of Infura will launch by the end of the year, with major Web2 cloud providers set to become part of the network, the chief strategist of ConsenSys says. “We’re looking to launch something later this year, but then there’s going to be what they call a federated phase that they’re expecting to like to last of the order of six months,” ConsenSys Head of Strategy Simon Morris told Cointelegraph at Korean Blockchain Week, referring to a trial period while the network was still under centralized control. Infura…