Category: Blockchain

Local Bottom or Hopeless Relief Rally? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock  Despite last week’s news regarding the latest inflation data, the crypto market has seen a relief rally since. Headline CPI in the U.S. for June was 9.1% year-over-year, which was well above the median forecast of 8.8% and the highest since 1981. The result of this is another blow to economic and social well-being, as the Federal Reserve are forced to be more aggressive. However, Bitcoin has risen by over 10% since the news and Ethereum has climbed by almost 40%.…

Africa can create an inclusive society with blockchain, says LBank CEO

As one of the most populated continents in the world, Africa continues to be an important target for blockchain proponents, as adoption in the region could have a significant impact on the broader crypto economy.  In an interview with Cointelegraph, Allen Wei, the CEO of crypto exchange LBank, explained that blockchain can have a significant impact on Africa. Moreover, Wei highlighted that adoption within the region can have an effect on crypto and underscored the importance of supporting projects throughout the continent. With blockchain, an opportunity to solve Africa’s economic…

Blockchain can make social media interoperable, says

While the critics cast doubts on some of blockchain’s use cases during the crypto winter, one of the most prominent community figures laid out some points that cement blockchain’s position as a disruptive technology.  On Twitter, FTX crypto exchange CEO Sam Bankman-Fried highlighted use cases for blockchain and explained how some industries could benefit from integrating the tech. According to Bankman-Fried, blockchain technology can simplify payments, solve stock market flaws and revolutionize social media. Bankman-Fried said that there are many issues surrounding cross-border payments. The FTX CEO laid out several…

Blockchain Technology can Radically Revamp Government Structures, Cardano Founder Says

Blockchain technology has the capability of revolutionizing government structures from the whelms of archaic processes to modern ones, according to Cardano founder Charles Hoskinson.  Speaking on Yahoo Finance’s The Crypto Mile, Hoskinson disclosed that blockchain technology promises to generate better governance on a global scale.    For instance, this cutting-edge technology can create a tax revenue system that is open source, enabling everyone to see the origin and destination of the money collected.   He pointed out: “The point of cryptocurrencies and blockchain technology is to take those resources…

Andorra green lights Bitcoin and Blockchain with Digital Assets Act

A small light of progress shines from Andorra, a tiny European country nestled between France and Spain. The country’s government, the General Council of Andorra, recently approved the Digital Assets Act, a regulatory framework for digital currencies and blockchain technology.  The act is split into two parts. The first regards the creation of digital money, or “programmable digital sovereign money,” which can be exchanged in a closed system. In effect, this would allow the Andorran state to create its own token. The second half of the act refers to digital…

Layer One Blockchain Startup 5ire Raised $100 Million, Joins Unicorn Club

Level One blockchain network, 5ire, has joined the unicorn club after raising $100 million at a valuation of $1.5 billion in Series A round. It received the funding from UK-based conglomerate SRAM & MRAM Group which made 5ire India’s 105th unicorn. 5ire which is a blockchain company that was founded in August last year, is still pre-revenue and is expecting to start getting revenue from the month of November and it just hit a billion dollar revenue mark in the last three years. For those uninitiated, Bitcoin, Litecoin and Ethereum…

Flare Celebrates Genesis Event With Open Invitation to Blockchain Devs

Flare, the interoperable layer 1 blockchain, is finally open for business. Its genesis event kicked off on July 14, initiating an eight-week bedding-in period before things kick into high gear with a token generation event. Before then, there’s a lot of action to take in, with new validators joining the network and a grants program rewarding devs interested in building Flare’s first dApps. For Flare CEO Hugo Philion, this moment has been a long time in the making. In a statement, he enthused: “I’m excited to welcome projects to the…

Justin Sun – Altruism or Greed? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock  Bitcoin dropped around 5% over last weekend, the week started at around $20,500 at time of writing. The downtrend in the crypto market persists, due to increased fears of an incoming recession. The google search volume of recession has skyrocketed in recent weeks. The June jobs report, which was released last week, showed that employment is strong with high wage growth, increased the chance of a recession. This is because it results in a more aggressive Federal Reserve, who must fight…

Blockchain-based solutions aim to address US disaster relief

Natural disasters in the United States are becoming more prevalent, resulting in increasing costs, a lack of transparency between state and government organizations and a slew of other issues impacting relief systems.  The Pew Research Center found that the Federal Emergency Management Agency’s (FEMA) public assistance program spent 23% more on natural disasters between 2010–2019 than it did during 2000–2009. Data from Climate.gov further shows that 2021 was the third costliest year in history for natural disasters in the U.S., totaling over $145 billion in damages from 20 weather-related incidents.…

Shanghai included blockchain, NFTs and Web3 in its 5-year plan

China’s biggest city Shanghai officially intends to boost the development of innovations such as blockchain, nonfungible tokens (NFTs), metaverse and Web3 in general during its next five-year plan.  On July 13, Shanghai’s Municipal Government published the draft of its “14th Five-Year Plan for the Development of Shanghai’s Digital Economy”. A document sets the mission of “promoting the deep integration of digital technology and the real economy,” with “scientists judging technology prospects” and “entrepreneurs discovering market demand”. The plan suggests supporting the enterprises that plan to construct the NFT trading platforms…