Day: November 16, 2023

Boosting blockchain adoption by keeping tech on the back end

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Understanding the difference between the front and back end is crucial with Web3 technology. The term “front end” describes the portion of Web3 applications that consumers interact with directly. This includes the technology’s user-facing side, websites and decentralized applications (DApps).  The back end, on the other hand, refers to the complex system that supports these Web3 applications. Everything from distributed ledgers and smart contracts to consensus protocols is included here. However, accessibility and simplicity are important for the adoption of Web3. When the technical complexities of Web3 are too prominently…

AI identity platform combats ownership and deep fakes

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The rise of artificial intelligence has introduced new possibilities for human expression and capabilities to create content. Simultaneously, the ability to do almost anything and to do so with a digital AI-generated identity has caused new problems to troubleshoot.  According to data from Sumsub, the portion of fraud stemming from deep fakes more than doubled from 2022 to the first quarter of 2023, with the United States even seeing a rise from 0.2% to 2.6%. In recent months there have been multiple instances of celebrities like actors Tom Hanks and…

Dubai’s crypto regulator VARA switches leadership as it ramps up operations

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Dubai’s dedicated crypto regulator, the Virtual Asset Regulatory Authority (VARA), is switching leaders as it prepares for the next phase of its “ramp up to full-scale market operations” in 2023.  In a statement sent to Cointelegraph, VARA said that its incumbent CEO, Henson Orser, will be replaced by Matthew White, a global adviser who worked several roles at PwC. VARA also explained that Orser will still help the regulator as a consultant. Orser is a former banker who worked at Nomura Holdings. He led VARA in adopting a regulatory regime…

Bitcoin NVT Remains Bullish, All-Clear Signal For Rally?

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On-chain data shows the Bitcoin Network Value to Transactions (NVT) ratio is above the bear zone, implying the recent price growth might have been healthy. Bitcoin NVT Ratio Has Remained Outside Red Since October According to data from the on-chain analytics firm Santiment, the NVT ratio has seen a significant improvement recently. The relevant indicator here is the “NVT ratio,” which keeps track of the ratio between the Bitcoin market cap and daily circulation. The market cap here is naturally the total value of the asset, while circulation refers to…

Cathie Wood Reveals The 2 Coins To Buy

Cathie Wood, CEO of Ark Invest, has reiterated her bullishness on the crypto industry. In a recent interview with CNBC’s “Squawk Box,” Cathie Wood argued that the crypto industry is poised to reach a $25 trillion valuation, given a regulatory breakthrough in the US. Out of the multitude of digital assets on the market right now, Wood sees two cryptocurrencies driving much of that growth: Bitcoin and Ethereum. Cathie Wood Predicts $25 Trillion Crypto Ecosystem The entire crypto industry has witnessed unprecedented growth since the middle of October. According to…

Ramaswamy Shares Crypto Plan, the First Among Republican Presidential Candidates

“A big part of what we’re missing today is clarity from our regulators,” Ramaswamy said in an interview with CoinDesk TV. “What we’re going to have is rescinding any of those regulations that are allowing the regulatory state to go after perfectly legal behavior, but by claiming that somehow it shouldn’t exist because they don’t like it. All of that can end on my watch.” Source

3AC co-founder Kyle Davies spotted in Bali, sources claim

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Three Arrows Capital (3AC) co-founder Kyle Davies has reportedly been seen in Bali as he continues to evade authorities over the collapse of the defunct hedge fund. Davies, who has been embroiled in bankruptcy proceedings since the collapse of 3AC in 2022, has already been sentenced to four months in jail in Singapore for failing to cooperate with investigations into its bankruptcy. An anonymous source provided Cointelegraph with images that purportedly show Davies with an unknown woman at the Milk and Madu cafe in Canggu, Bali, on Nov. 8. Furthermore, separate…

German parliament member ’staunch opponent’ of digital euro, all in on Bitcoin

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The European Union has been actively preparing for what it envisions as the future of money. In the past year, it finalized its landmark comprehensive crypto legislation, the Markets in Crypto-Assets Regulation (MiCA), which is due to take effect in 2024 after closing its second consultation in October.  It has also made progress in its plan to introduce a central bank digital currency (CBDC), which is coming to fruition as the “digital euro.” De Nederlandsche Bank, the central bank of the Netherlands, has described it simply as an “electronic form of…

How Web3 is causing an evolution of traditional finance

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As decentralized finance grows in popularity, many wonder what the future holds for traditional finance (TradFi). In episode 37 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Sarah Clark, the CEO of E-Gates, about how TradFi plans to compete and collaborate with the Web3 space and what that means for global payments moving forward. The episode also highlights issues around Web3 payments, such as regulatory compliance, fraud prevention and customer trust.  Clark has worked at multiple TradFi firms like PayPal and Barclays before pivoting to Web3. She explains…

Astrobotic Sends Dogecoin to the Moon on December 23rd

This milestone is not just a technological achievement, but a symbolic moment for the Dogecoin community. In a surprising announcement that has sent ripples through the blockchain community, the Dogecoin (DOGE) team took to X today to reveal that Astrobotic Technology, an American space robotics company has planned to send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket. The rare expedition to the moon is expected to take place on December 23, 2023. 🚀Dogecoin On The Moon Update🌕 Exciting news for the Dogecoin…