Tag: Digital

MLB NFTs on Candy Digital Clock $2.7M in Marketplace Debut

The trading volume, for now, rivals that of Dapper Labs’ NBA Top Shot, which has seen roughly $2 million in sales each day of January, a representative told CoinDesk. The sales figures offer another glimpse at an NFT market that has weathered a general downturn in crypto prices from 2021’s frothy highs. NFT marketplace OpenSea, for example, has seen its highest volume month ever so far in January while ETH, the native token of the Ethereum blockchain, has sagged 15% over the same time period. Source

Google Pay Partners With Cryptocurrency Exchanges To Accept Their Digital Cards

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Another day, another massive company entering the cryptocurrency space. Google is making moves to boost up the profile of their Google Pay service, and, of course, crypto is in the mix. The company hired Arnold Goldberg, ex-Senior Vice President at PayPal, “to run its payments division.” That’s according to Bloomberg, who broke the story.  “The move is part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies, said Bill Ready, Google’s president of commerce. The business, known for the Google Pay system and…

Iran to reportedly pilot central bank digital currency soon

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The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon. According to a report by the Iranian Labour News Agency, the CBI vice governor said that CBDCs could help the country resolv financial inconsistencies.  The development of a sovereign digital currency in Iran began in 2018 at the Informatics Services Corporation — the executive arm of the CBI. The development phase has been completed and a pilot will be launched soon. However, CBI didn’t reveal many details about the time frame. The…

Crypto Miner Convicted in Russia for Allegedly Stealing Power to Mint Digital Coins – Mining Bitcoin News

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A regional court has sentenced a man accused of illegally connecting his crypto farm to the grid to two years in prison. The decision comes as authorities in Moscow prepare to address the lack of proper regulations for cryptocurrency mining, which has become a popular source of income in Russia. Illegal Crypto Farm Burns 1.3 Million kWh in Komi, Russia The city court in Syktyvkar, capital of the Russian Komi Republic, has found a 39-year-old local resident who was operating an underground crypto farm guilty of electricity theft. The hardware…

Digital Asset Funds Hit by 5th Week of Outflows

Investors pulled money out of cryptocurrency funds for a fifth straight week, reflecting the bearish market mood as bitcoin suffers one of its worst-ever starts to a year. Digital-asset investment products saw $73 million of outflows during the seven days through Jan. 14, according to a report published Monday by the crypto firm CoinShares. The redemptions accumulate to $532 million over the five weeks, cutting industrywide assets under management across all funds to $56.1 billion. Investment funds focused on bitcoin (BTC), the world’s largest cryptocurrency by market value, accounted for…

Bank of America Says UK CBDC Would Be More Than a Digital Form of Cash

Given that consumers hold only small amounts in cash, there would be greater convenience in switching a current account into Britcoins, BoA said. That could be an area of concern for commercial banks. Checking accounts, or current accounts as they are called in the U.K., are the lifeblood of commercial banks’ business models, providing them with stable funding over a long term. Source

Central Banks Are Best Sources of Trust in Money in a Digital Age

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Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments

Bitcoin has dominated the digital payments space for the longest time and continues to do so. However, this dominance is on the decline as more altcoins are being chosen as the preferred digital currencies for payments. This has mainly been due to cheaper fees resulting from network congestion when the price gets too high. Instead, cryptocurrencies whose fees can range from a few cents to fractions of a cent are now favored by merchants. Altcoins Are Taking Market Share From Bitcoin Crypto payments processor BitPay recently released a report outlining…

The Importance of True Digital Ownership in An Age of Data Monetization

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In our current digital age, data is king. Businesses of all sizes are increasingly looking to monetize user data in order to power their products and services. However, the way in which these businesses go about extracting value from data often lacks fairness and transparency. Take Facebook, for example. The social media giant has come under fire in recent years for its business model, which is based on monetizing user data without giving anything back to the users themselves. This was most recently highlighted with the company’s rebranding to “Meta”,…

Foam Shoe Giant Crocs Files NFT and Digital Collectibles Trademark Application – Bitcoin News

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According to a recent trademark application, Crocs, the American shoe company based in Colorado may be delving into the world of non-fungible tokens (NFTs). Since 2004, Crocs has sold 300 million pairs of foam clog shoes and the application describes a protocol that can manage and store digital collectibles. Crocs Trademark Filing Describes ‘Downloadable Virtual Goods Created With Blockchain Technology, Smart Contracts, in the Nature of Footwear’ A United States Patent and Trademark Office (USPTO) report filed on January 11, 2022, indicates that Crocs has an eye on the non-fungible…