Blockchain-Based Loyalty Rewards Foster Brand-Customer Connection, Accelerate Web3 Adoption — Gennady Volchek

Universal loyalty programs can serve as potent tools, not only forging a direct link between a brand and its consumers but also influencing the latter’s shopping behaviour, Gennady Volchek, the CEO of the loyalty rewards app Shping, has said. However, by harnessing the power of blockchain and cryptocurrency, these loyalty programs empower brands to connect […] Source CryptoX Portal

Fox Corporation and Polygon Unveil “Verify for Blockchain-Based Content Authentication

Fox Corporation has partnered with Polygon to launch ‘Verify’, a groundbreaking tool designed to authenticate digital content. This innovative protocol, based on the Polygon proof-of-stake (PoS) blockchain, marks a pivotal moment in the battle against AI-generated media and deepfakes, ensuring the integrity and provenance of digital media content. The Challenge of AI-Generated Media The rapid advancement of AI technologies has led to the proliferation of AI-generated content, ranging from articles and audio to images. This has posed a significant challenge in distinguishing authentic content from fabrications. With AI-generated deepfakes becoming…

Blockchain-based private loans hit $582M, doubling from last year

Blockchain-based lending is regaining momentum this year, with the value of active tokenized private credit now sitting at $582 million — a staggering 128% increase from a year ago. While still far off from its peak of $1.5 billion in June 2022, according to data from real-world asset loan tracker RWA.xyz, the resurgence could signal that loan-seekers are looking for blockchain-based alternatives to traditional financiers amid a recent rise in interest rates. The current average percentage rate is 9.64% for blockchain-based credit protocols, while financiers have been offering small business…

Chinese government plans for blockchain-based identity verification

The Chinese Ministry of Public Security plans to roll out a new blockchain-based platform called RealDID to verify the real-name identities of its citizens.  According to a press release for an event held on Dec. 12 by the Blockchain-based Service Network (BSN), a Chinese blockchain firm, the project, planned with the Chinese government,  will have multiple use cases. These include personal real name confirmation, personal data encrypted protection and certification, private logins, business identities, personal identification certificate services and information vouchers on personal identity. The application will allow Chinese citizens to register…

British investment funds get go-ahead to launch blockchain-based tokenized assets

With the latest move, the U.K. hopes to bolster liquidity in its asset management market. British investment managers have received an approval to develop tokenized funds with the help of blockchain technology as the country seeks to benefit from the global digitization trend. As reported by Reuters, investment managers in the U.K. have been authorized by the Financial Conduct Authority (FCA), the financial services regulator, to start offering tokenized funds, albeit for mainstream assets only. Michelle Scrimgeour, who is the sitting chair of a working group tasked with aligning with…

Is it Time for a Blockchain-Based Stock Exchange?

In recent news, South Korea has implemented a complete ban on short selling, a move that has sparked debates about its implications and motivations. The head of the Financial Supervisory Service (FSS), Lee Bok-hyun, defends the decision, citing rampant illegal short selling in the stock market. While the ban is portrayed as a necessary step to combat financial misconduct, it raises questions about its impact and whether other countries should follow suit. Dedicated Forex cloud solutions with stable and fast cross-border connections capable of high-demand scenarios. Alibaba Cloud helps Forex…

Neon Machine raises $20M Series A for blockchain-based Call of Duty competitor ‘Shrapnel’

Web3 gaming developer Neon Machine raised $20 million in series A funding toward the development of its highly-anticipated extraction shooter “Shrapnel.”  This round follows a $10.5 million seed round completed in June of 2021. It was led by Polychain Capital and included funding from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. Shrapnel is an ambitious gaming project touted by Neon Machine as a “AAA game” — a non-standard designation used to indicate a video game with top-tier production value, budgeting, and marketing. According to…

Reddit to Discontinue Blockchain-Based Community Points Program

In a bid to prioritize scalable reward programs, Reddit is terminating its blockchain-based Community Points program, a decision that has garnered significant attention in recent days, according to Techcrunch. The system, conceived to incentivize positive engagement among users, will cease operation by early November 2021. Program Overview Launched in 2020, Community Points were awarded to users who actively contributed to certain subreddits, thereby encouraging enriched content and dialogue. The points, essentially Ethereum tokens, were stored in Reddit’s Vault, a designated cryptocurrency wallet. Once rewarded, these points were immutable, neither Reddit…