technology
Malta prepares to revise regulatory treatment of NFTs
The Malta Financial Services Authority (MFSA) is currently reviewing requests to revise the “regulatory treatment” of Non-Fungible Tokens (NFTs) within its Virtual Financial Assets Framework. Under the current regulatory framework, NFTs are included within the scope of the Virtual Financial Assets Act, which also includes virtual tokens, virtual financial assets, electronic money, and all financial instruments built, or dependent on, Distributed Ledger Technology (DLT). However, the MFSA is proposing to have NFTs removed from the Virtual Financial Assets framework since they’re unique and nonfungible and therefore incapable of being used as payments for goods and services, or for investment purposes. According to the MFSA, “the inclusion of such assets within the scope of the V...
Ankr says no one should trade aBNBc, only LPs ‘caught off guard’ will be compensated
Following yesterday’s confirmed multi-million dollar exploit, BNB Chain based protocol Ankr took to its company blog on Dec. 2 to relay its next steps to users. The team said it was identifying liquidity providers to decentralized exchanges as well as protocols supporting aBNBc or aBNBb LP. The group also said it is assessing aBNBc collateral pools, such as Midas and Helio. According to the post, Ankr intends to purchase $5 million worth of BNB, which it will use to compensate liquidity providers affected by the exploit. Some users speculatively traded diluted aBNBc after the exploit had occurred as well, but the company indicated that these traders won’t be included in the protocol’s recompense measures stating, “we are only able to compensate LP’s caught off...
DAM Finance unvleis out the Moonwalkers v1 testnet
In its quest to introduce a decentralized omnichain stablecoin solution to securely address the liquidity challenges facing the broader decentralized finance (DeFi) ecosystem, DAM Finance has launched the Moonwalker v1 testnet. The Moonwalkers v1 testnet lays the foundation for DAM’s solutions and DAM is expected to introduce its solutions on the mainnet after the testnet phase. This will provide users with a wide range of assets including yield-generating collateral. Using the Moonwalker V1 testnet The Moonwalker v1 testnet has been deployed on both Ethereum’s Goerli Testnet and Moonbeam’s Moonbase Alpha, an EVM-compatible chain built on Polkadot. DAM community members will be able to mint DAM’s decentralized omnichain stablecoin d20 directly using existing stablecoins like USDC on Ethere...
SubQuery extends its data indexing support to Flare Network
SubQuery has today announced integration with Flare Network. The integration, which came shortly after SubQuery received a grant from the Flare Ecosystem Support Programme, will allow SubQuery to extend its data indexing support to Flare Network. Flare Network’s cross-chain approach is consistent with SubQuery’s main objective of becoming the universal blockchain indexing tool for Web3 developers. Flare Network provides a simple and coherent stack for decentralized interoperability for developers, allowing them to develop dApps that serve multiple chains through a single deployment. Flare Network also supports EVM-based smart contracts and has in-built data and interoperability infrastructure. This provides dApps with highly decentralized price feeds and secure state acquisition from other...
How blockchain technology is used in supply chain management?
To trace the activities along the supply chain more efficiently, concerned parties can access price, date, origin, quality, certification, destination and other pertinent information using blockchain. Traceability, as used in the supply chain sector, is the capacity to pinpoint the previous and current locations of inventory and a record of product custody. It involves tracking products as they move through a convoluted process, from raw materials to merchants and customers, after passing through many geographic zones. Traceability is one of the significant benefits of blockchain-driven supply chain innovations. As blockchain consists of decentralized open-source ledgers recording data, which is replicable among users, transactions happen in real-time. As a result, the blockchain can build...
A Track Sung By an AI Voice Has Eclipsed 100 Million Streams
While artists work hard to produce new music for fans and increase their streaming numbers, an A.I. has effortlessly recorded a song that eclipsed 100 million streams. According to a report by Music Business Worldwide, Chinese streaming giant Tencent Music Entertainment (TME) has recorded and released over 1,000 new songs that feature AI-generated vocals mimicking the human voice. One track in particular, titled “Today,” has become the first song with an AI voice to surpass the nine-digit milestone. That led to just under $350,000 in streaming revenue, per MBW. The songs use TME’s “patented voice synthesis technology,” Lingyin Engine, which is said to be able to replicate the voices of real-life singers to produce original songs throughout any genre and language. The company also repo...
Polkadot incentivizes its community to fight scams through an “anti-scam bounty”
Polkadot, a protocol that connects blockchains, has announced its latest initiative to help its ecosystem fight scams. According to the company, relying on security-minded individuals within its community to fight scams has proven to be an effective method of safeguarding its ecosystem. To incentivize the members of its community to continue to do the work, Polkadot consistently rewards them with bounties paid in USDC. Polkadot shared that its bounty is currently managed by the general curators, which for now, consists of three community members, and two people from the W3F Anti-Scam department. However, in the long term, Polkadot hopes that the bounty will be eventually managed exclusively by the community. As part of the community-led anti-scam initiative, community mem...
OKX releases Proof of Reserves page, along with instructions on how to self-audit its reserves
Crypto exchange OKX has released a Proof of Reserves page that allows users to audit its reserves to make sure it is solvent. This comes at a time when crypto exchanges are coming under greater scrutiny after the collapse of FTX. OKX announced the new page in a tweet, as well as on its blog. Don’t trust, verify → OKX Proof of Reserves (PoR) is LIVE. To set a new standard of transparency, risk management and user protection, we’re launching our first PoR. You can now verify your assets are backed 1:1 on #OKX ⤵️ Details — OKX (@okx) November 23, 2022 The Proof of Reserves page offers two different options for users to audit the exchange’s reserves. The first allows users to get a brief summary of the exchange’s current reserves and liabilities for its top three cryptocurre...
Casper Association launches $25M grant to support developers on its blockchain
Scalable blockchain network Casper announced the launch of its new Casper Accelerate Grant Program on Nov. 23, created to support developers and innovators who are building apps to support infrastructure, end-user applications, and research innovation on its blockchain. JUST IN from @nextblockexpo: We’re glad to announce the launch of a $25M Casper Accelerate Grant Program. This fund will support learning, development, and innovations in Infrastructure, #dApps, #DeFi, #Gaming & NFTs. Learn more https://t.co/jClYyYxRVW pic.twitter.com/V8KszHEjM3 — Casper (@Casper_Network) November 23, 2022 The Casper Network is a Proof-of-Stake (PoS) enterprise-focused blockchain designed to help businesses to build private or permissioned apps, aimed at accelerating businesses and the adopti...
Banks still show interest in digital assets and DeFi amid market chaos
The cryptocurrency sector is the Wild Wild West in comparison to traditional finance, yet a number of banks are showing interest in digital assets and decentralized finance (DeFi). This year in particular has been notable for banks exploring digital assets. Most recently, JPMorgan demonstrated how DeFi can be used to improve cross-border transactions. This came shortly after BNY Mellon — America’s oldest bank — announced the launch of its Digital Asset Custody Platform, which allows select institutional clients to hold and transfer Bitcoin (BTC) and Ether (ETH). The Clearing House, a United States banking association and payments company, stated on Nov. 3 that banks “should be no less able to engage in digital-asset-related activities than nonbanks.” Banks aware of potential While ba...
Island nation turns to metaverse to preserve its disappearing heritage
In the South Pacific, the island nation of Tuvalu decided to turn to Web3 technology in order to make sure its culture and society are preserved in the future. On Nov. 15 the country’s foreign minister, Simon Kofe, told the COP27 climate summit that it is looking for alternative ways to protect the county’s heritage against rising sea levels brought on by climate change. One of those ways is through recreating itself in the metaverse. As highlighted by Minister Hon @Simon_Kofe in his speech to leaders at #COP27 we have had to act. As rising sea levels threaten to submerge our home we have made a radical plan for the survival of our nation. Visit https://t.co/AKOS8iul64 Save #Tuvalu. Save the world. pic.twitter.com/P8HMkwz4i7 — Tuvalu Ministry of Foreign Affairs (@Tuvalu_MJCFA) Novemb...
Diddy Revealed As Backer For Elon Musk’s Twitter Takeover
HipHopWired Featured Video Source: Paras Griffin / Getty As Elon Musk is settling in for the start of his reign on Twitter, it’s been revealed that Diddy is one of the billionaire’s key investors in acquiring the social media platform. According to reports, sources close to the entertainment mogul confirm that Diddy was one of the investors that aided Musk in securing ownership of the social media platform. The Tesla founder and CEO agreed to purchase Twitter for $44 billion and the deal was finalized on Oct. 28 after an extended back-and-forth in the courts. Diddy’s investment is believed to be estimated at $10 million. His stake includes him in a varied group of investors which besides Wall Street banking firms, reportedly also includes Twitter co-founder Jack Dorsey and Prince Alwaleed ...
