Category: Blockchain

Black Americans are changing the face of crypto and blockchain through education

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Despite there still being work to be done to further diversify the crypto space, many believe the blockchain sector is generally more diverse than other tech industries. This could be because cryptocurrency boasts financial inclusion and the democratization of global economics, attracting a wide variety of people from various nationalities, ethnicities, genders, etc., from around the world. Among this diverse group of participants, Black American founders and thought leaders, in particular, have helped advance the blockchain and crypto sector. While a number of these individuals have founded blockchain companies or…

Inside the blockchain developer’s mind: Koinos approaches testnet

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Cointelegraph is following the development of an entirely new blockchain from inception to mainnet and beyond through its series, Inside the Blockchain Developer’s Mind. In Part Four, Andrew Levine of Koinos Group discusses some of the challenges the team has faced since identifying the key issues they intend to solve. Earlier in this series I outlined three of the “crises” that are holding back blockchain adoption; upgradeability, scalability, and governance. In this post I will summarize the solutions we’ve developed to these problems, which we will be showcasing in the…

Blockchain soccer gaming startup Sorare raises $50M

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Sorare, a major blockchain-based soccer gaming platform, has raised $50 million from high-profile investors backing major companies like Twitter, Instagram and Discord The fresh Series A round brings Sorare’s total funding to $60 million, the company told Cointelegraph Thursday. The funding round was led by Benchmark, an investment giant famous for funding companies like Twitter, Uber and Snap. Accel Partners was another lead investor, known for backing companies like Facebook and Spotify. The round also included some additional investment from investors like Reddit co-founder Alexis Ohanian, VaynerMedia CEO Gary Vaynerchuk,…

Blockchain Australia ousts retail merchant crypto project Qoin

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Blockchain Australia — the industry body for the novel tech in the country — has expelled Qoin, a retail merchant crypto project based in Gold Coast, Queensland. According to a notice of disciplinary action issued on Feb. 19, Blockchain Australia initially served Qoin with a summons to respond on Jan. 29. However, Qoin reportedly failed to respond to the notice, forcing Blockchain Australia to expel the project from its membership ranks. Detailing its decision, the notice reads: “On 17 February 2021, the Board of Blockchain Australia, having considered the Notice and…

US Education Department promotes putting student records on blockchain

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The COVID-19 pandemic has exposed flaws across various sectors. As a result, a number of government departments are evaluating blockchain-based systems as possible solutions for challenges involving multiparty workflows, record-keeping, transparency and more.  For example, the United States Department of Education recently provided funding for the launch of the “Education Blockchain Initiative.” Referred to as the EBI, this project is led by the American Council on Education — an organization that helps the higher education community shape effective public policy — and is designed to identify ways that blockchain can…

Understanding Two Prominent Second Layer Ethereum Blockchain Solutions

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The meteoric rise of decentralized finance across 2020 exposed numerous vulnerabilities with the Ethereum network. While the Ethereum blockchain is one of the most secure and ‘battle-hardened’ infrastructures, high gas costs and scalability issues have led some projects to innovate instead of waiting for the long-desired Ethereum 2.0. Second-layer solutions have gained notoriety lately as companies endeavor to reduce gas fees and foster Ethereum scalability by shifting transactions to sidechains.  Polygon, a recent rebrand of Matic Network, intends to build a “multi-chain system” utilizing solutions like Optimistic Rollups, xkRollups, and…

The United Arab Emirates chase crypto and blockchain adoption

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For a long time, the United Arab Emirates has been one of the most progressive crypto countries in the world. For example, government-owned licensing firm Kiklabb allows clients to pay for their visa and trade license fees via various digital assets to the Dubai Financial Services Authority, which announced its decision to work on a holistic crypto regulatory framework as part of its 2021 business plan. In fact, as a result of Dubai’s crypto-friendly policies, Ripple, a firm that has recently been in murky waters with the United States Securities…

Francis Suarez, Miami’s pro-crypto mayor, to appear on Blockchain & Booze tonight

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Francis Xavier Suarez, the mayor of Miami and a firm Bitcoin proponent, will appear for a 30-minute fireside chat on Blockchain & Booze this evening. The episode, hosted by Adam Levy of blockchain venture studio and fund Draper Goren Holm, and streamed live from Cointelegraph’s Twitter account, will explore Miami’s emerging status as a global crypto hub, as well as Suarez’s civic leadership responsibilities. The chat will be followed by a half-hour-long AMA with guests from across the crypto industry. Suarez attracted the attention of the crypto industry in January…

Air France pilots blockchain-based COVID-19 travel system

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With travel and tourism being one of the hardest-hit industries by the coronavirus pandemic-induced lockdowns, several stakeholders are increasingly prioritizing digital and contactless solutions. In this vein, Air France has partnered with MedAire, SGS, International SOS, and the International Chamber of Commerce to test a blockchain-based COVID-19 travel system. Beginning from March 11, Air France will begin the pilot test of the ICC AOKpass system developed by MedAire and the International SOS. The ICC AOKpass is an app that travelers can install on their smartphones that contains a secure record…

Major Asian banks unite to form ‘multiple’ CBDC pact on blockchain

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Several major banks across Asia have joined forces to construct a cross-border central bank digital currency, according to a joint announcement issued on Feb. 23. Dubbed the Multiple Central Bank Digital Currency Bridge — or m-CBDC — the project sees the Hong Kong Monetary Authority, the Bank of Thailand, the Central Bank of the United Arab Emirates, and the Digital Currency Institute of the People’s Bank of China combine to create a CBDC prototype using distributed ledger technology. Building upon the “Inthanon-LionRock” research project started in 2019, the latest phase of…