Connect with us

Blockchain

Picturing the digital assets momentum, framed through a European lens IBM Blockchain and Supply Chain Blog

Published

on

cafe laptop


Share this post:

The birth and rise of the Bitcoin cryptocurrency paved the way for several waves of innovation that are gradually shifting paradigms in the financial ecosystems. The digital asset momentum, empowered by tokenization and underpinning blockchain technologies, is now undeniable.

Amongst the recent milestones that made the headlines; the ever-growing rise of Bitcoin value, the incredible resilience story of hacked and returned tokens in the Poly network, and the inclusion of so-called “Fan Tokens” in the transfer package of star footballer Leo Messi to Pari Saint Germain.

What is probably less mediatized, but still worth noting, is the continuous growth of the Decentralized Finance (DeFi) ecosystem — currently nearing USD 100 billions of “locked value”, according to Defipulse.

The overhyped Initial Coin Offerings (ICOs) in the early days of smart contracts-based innovation and the speculative behaviors around cryptocurrencies — like the crypto-investor’s notoriously misspelled term HODL, referring to buying and hoping to see the asset value multiplied by 100 times — are just the tip of the iceberg. The same innovation technologies that powered the rise of cryptos promise to change the financial sector in a profound way.

Learn how digital assets increase security and scalability for faster settlements

Underneath the surface, advanced finance instruments for digital assets are emerging. These instruments are fueled by the programmability of smart contracts, allowing them to mimic what happens in the regulated world of cash and securities: funding, lending, borrowing, trading, derivatives and even automated liquidity market makers.

These initiatives are not yet mainstream — my own notion of mainstream is when a trend is being adopted by my digital-savvy friends and family. However, some of these trends introduce disruptive business models and new governance schemes that can potentially trigger major shifts in the regulated financial ecosystem.

The shift in regulated financial ecosystem

Several commercial and so-called custodian banks have not hidden their interest in supplementing their core securities services with new offerings focused on digital assets, ranging from issuance to depository and servicing.

Besides that, experiments are on-going in the central banking area, suggesting a growing interest in Central Bank Digital Currencies (CBDC). The latest market signal comes from the European Central Bank (ECB), launching a 24-month investigation phase around digital euro and focused on the retail space.

Prior to that, the French national central bank (Banque de France) launched an ambitious CBDC experimentation program in March 2020, triggering eight different workstreams focused on wholesale money markets — limited to companies and financial institutions for large amounts.

Many domains of digital assets are deeply interlaced: securities settlement and payments in the real world might represent two legs of the same operation lifecycle. For this reason, it is expected that innovations concerning one dimension (like cash) could eventually trigger further alignments in contiguous spaces (like securities).

This was demonstrated in the Euroclear initiative in the context of Banque de France CBDC program, involving IBM as the technology partner and featuring the entire ecosystem involved in post-trade operations of French Government Bonds, including:

  • Agence France Trésor as the issuer, reporting to French Ministry for the Economy, Finance and Recovery
  • Banque de France, as the CBDC issuer and AFT bank
  • Euroclear, as the Central Securities Depository
  • BNP Paribas, Societe Generale, Credit Agricole CACIB and HSBC, as the primary dealers

Check out the full report, Experimenting settlement of French government bonds in Central Bank Digital Currency with blockchain technology, and watch the short video below for more information.

The limit between the former world and a more decentralized one is more and more blurred, if you consider the recent “Pilot Regime for market infrastructures based on distributed ledger technology” introduced by the European Commission in March 2021, which exempts “small” issuers (below EUR 200 million) and bond issuances (below EUR 500 million) from certain Central Securities Depository (CSD) requirements in order to preserve the promise of decentralization induced by blockchain technologies.

From Bitcoin to DeFi

The rise of cryptocurrencies has been, and is still, a topic of conversation for a niche of passionate “geeks” (like me), but the traction that I see from the regulated financial world, through the exposure of our industry and technology consulting activities, shows that the potential of digital assets is reaching another dimension.

The current experimental phase might give the perception that the horizon for change is still far, but the change has already started, and the financial ecosystem is already working on the premise of the major transformation. The question is no longer “if”, but “when”.

blockchain servicesTurning strategy into business outcomes

IBM Blockchain Services can help bring your ideas to life. Explore the use of blockchain and digital assets in your business.

Connect with the blockchain experts





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Blockchain

Polygon Accommodate 37,000 DApp, Scoring 400% This Year

Published

on

should I buy Polygon crypto


Since the beginning of 2022, the number of decentralized apps (DApps) on the Ethereum scaling platform Polygon has surged 400%, hitting 37k. According to a blog post from partnered Web3 development platform Alchemy published by the Polygon team, the 37,000 figure signifies the total apps produced on both the testnet and mainnet.

At the end of July, there were 11.8k monthly active teams, a sign of blockchain developer involvement, a 47.5% increase from March. In addition, the project team offered an overview of dApp projects, noting that “74% of the teams are entirely integrated on Polygon.”

Buy Polygon Now

Your capital is at risk.

The Reason Behind Its Surgence

Their collaboration with Alchemy was the driving force behind the expanding number of DApps. The Polygon team noted earlier this year that the increased amount of DApps being developed on the network was a major contributing reason.

~500 dApps in November, now 37,000+ with 11.8k active teams.

“Many projects are increasingly choosing to build solely on Polygon. Alchemy data shows that 74% of teams integrated exclusively on Polygon”

This is because the Web3 platform’s infrastructure makes it “far easier for Polygon developers” to construct DApps.

Cooperation by Polygon and Alchemy Support dApps

The cooperation launched by Polygon and Alchemy in June 2021 aided in increasing the number of dApps on the network from 3,000 in October to 7,000 in January to over 19,000 in April.

Polygon’s native asset, MATIC, has risen by 66.3% in the last month as cryptocurrency markets have turned green and recently exhibited signs of a possible positive revival. MATIC is presently the sixteenth most valuable cryptocurrency asset, having a market capitalization of $6.9 billion.

Punt Crypto Casino Banner

Polygon (MATIC) Price and Tokenomics

The current price of Polygon is $0.9241, with a 24-hour trading volume of $498 million. Polygon’s value has risen by 2.50% in the last 24 hours. MATIC is now the world’s 13th most valuable company, with a market capitalization of $7.6 billion.

It can hold up to 10,000,000,000 MATIC coins, but currently only 8,035,303,935 MATIC coins are in circulation.

Polygon (MATIC) Technical Outlook

MATIC Price Chart
MATIC Daily Price Chart – Source: Tradingview

The MATIC/USD is currently trading at $0.9241 after consolidating in a narrow range of $0.8844 to $1.0001. Given the recent 400% increase in dApp registrations on the Polygon network, MATIC may experience a bullish trend.

A surge in MATIC demand could pierce the $1.0001 resistance level, exposing the MATIC price to the next target area of $1.1330. Further to the upside, MATIC’s next resistance level will be $1.2770.

The leading indicators MACD and RSI indicate divergence, with one indicating a buying trend and the other indicating a selling trend. However, the 50-day EMA is in support of a buying trend.

On the support side, MATIC at $0.8844 is likely to be supported by the upward trendline. On the other hand, a bearish breakout could push Polygon’s price down to $0.7635. Consider staying bullish above the $0.7635 level and vice versa. Good luck!

Read more:

Tamadoge – Play to Earn Meme Coin

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Capped Supply of 2 Bn, Token Burn
  • NFT-Based Metaverse Game
  • Presale Live Now – tamadoge.io

Tamadoge logo






Source link

Continue Reading

Blockchain

Vinteum launches in Brazil to aid the Bitcoin ecosystem

Published

on

Brazil USDC


Vinteum, a nonprofit Bitcoin research and development firm, has been unveiled in Brazil. The firm announced the development in its press release. The entry of Vinteum into Brazil will help facilitate the decentralization of open-source networks within the country.

Vinteum will provide the necessary infrastructures for open-source developers’ training and funding in Brazil. As revealed, this will help grow the country’s bitcoin ecosystem.

The firm acknowledges the criticality enveloped in the Bitcoin ecosystem and the Lightning network. According to Vinteum, the two mechanisms have, in recent years, become complicated owing to bitcoin’s growing maturity. It added that the development had become a significant challenge for developers within the country.

Vinteum believes its investment in proficient open-source developers will aid the Bitcoin and Lightning Network, thereby resolving the problem. Additionally, the firm reiterates its commitment to safeguarding and sustaining the next generation of Bitcoin developers.

According to reports, the firm decided to unveil its center in Brazil to safeguard the Bitcoin ecosystem. Vinteum is optimistic about Bitcoin as a deserving network owing to its various use cases. According to the firm, this necessitated the effort to establish the center, facilitating improved efficiency within the ecosystem. 

However, it noted that “there is no official team, nor is there any built-in mechanism for funding Bitcoin developers.” According to the firm, the situation is obtainable because “it is an open-source software and a decentralized protocol with no owners nor a system of leadership.”

This development is prompting Vinteum to source for investors so that integrated developers can work full-time on the lightning network and other notable open-source projects in the Bitcoin sphere. 

As of press time, it has secured the support of numerous investors. Some investors are John Pfeffer of Pfeffer Capital; Xapo Bank founder and early Bitcoin champion Wences Casares; Sebastian Serrano, CEO and co-founder of Bitcoin blockchain company Ripio; crypto-exchange Okcoin; and the Human Rights Foundation (HRF). However, the firm is yet to publish the amount it has raised through the commitment of these investors.

Vinteum further states that it is on the lookout for developers who can sustain the scaling of the Bitcoin ecosystem. More so, it added that the developers must be able to aid the network’s security, privacy, and programmability.

Reportedly, the co-founders of Vinteum, Lucas Ferreira of Lightning Labs and André Neves of ZEBEDEE, will function as the foundation’s executive director and director of partnerships of the firm.

Related

Tamadoge – Play to Earn Meme Coin

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Capped Supply of 2 Bn, Token Burn
  • NFT-Based Metaverse Game
  • Presale Live Now – tamadoge.io

Tamadoge logo




Source link

Continue Reading

Blockchain

Ethereum Co-Founder Vitalik Buterin Downplays Ethereum PoW Fork, Hopes It ‘Doesn’t Result in Folks Losing Money’

Published

on

BTC Wires



Ethereum co-founder Vitalik Buterin recently mentioned that he cares about the recent Ethereum proof-of-work (PoW) fork topic that’s been finding its method into a variety of conversations inside the crypto community. Buterin remarked at the ETH-Seoul conference over the weekend, that he believes the folks introducing the forked token construct ar essentially a “couple of outsiders” that “mostly simply wish to create a fast buck.”

Vitalik Buterin provides His Opinion on the Proposed Ethereum PoW Fork plan

A lot of individuals inside the crypto community are discussing a potential ETH captive fork (ETHW) that’s distinctive from the present Ethereum Classic blockchain. Bitcoin.com News reported on the prestigious Chinese crypto manual miner Chandler Guo, who initiated the ETHW language when explaining that he participated within the birth of Ethereum Classic (ETC). The thought then gained additional traction, as a web site referred to as ethereumpow.org was revealed and a number of exchanges set to list the fork.

Presently, the promissory note tokens for ETHW ar value $138.69 per token, per coinmarketcap.com metrics and against Tron’s USDD stablecoin, ETHW is exchanging hands for 142.27 USDD on Poloniex. This weekend, co-founder of Ethereum Vitalik Buterin mentioned ETHW throughout a Q&A session at the ETH-Seoul conference. Buterin downplayed the chance of a fork of this type seeing semipermanent acceptance. “I’m not expecting it to own substantial, semipermanent adoption,” Buterin stressed.

The Ethereum developer and co-founder conjointly talked concerning Ethereum Classic (ETC) and Buterin complimented the ETC community. “I assume Ethereum Classic already incorporates a superior community and a superior product for folks quite with those pro-proof-of-work values and preferences,” Buterin expressed. once Buterin was asked concerning the ETHW proposal, he explained that those attached its creation ar simply a “couple of outsiders that essentially have exchanges, and principally simply wish to create a fast buck.” Buterin added:

“I hope that whatever happens, doesn’t lead to people losing money.”

Digital Currency Group CEO Barry Silbert Discusses ETHW, Buterin Doesn’t See Fork Harming Ethereum’s Ecosystem

Buterin’s statement follows the statements the founder and chief executive officer of Digital Currency cluster (DCG), Barry Silbert, has created concerning the ETHW plan on Twitter. Silbert tweeted to the Evariste Galois Capital account on Twitter and said: “[For what it’s worth], our full support is behind [Ethereum proof-of-work], additionally to [Ethereum Classic], and have zero intention to support any [Ethereum proof-of-work] fork. [Ethereum] miners ought to move to [Ethereum Classic] to maximise their revenue semipermanent. easy as that.”

Silbert has conjointly created different statements on Twitter on to a number of Chandler Guo’s threads, and Guo asks Silbert in one tweet: “why solely [Ethereum Classic]?” The DCG government replied and aforementioned it’s “the good play for [ethereum] miners” and he conjointly mentioned that Antpool is leading the initiative to support the Ethereum Classic chain. once somebody told Silbert to prevent participating with Guo, Silbert responded and said: “I like and respect Chandler. simply trouble him on this strategy.”

Meanwhile, at this weekend’s ETH-Seoul conference, Buterin elaborated that he doesn’t expect Ethereum (ETH) to be deterred by the chance of another fork. “I don’t expect Ethereum to essentially be considerably injured by another fork,” Buterin remarked. On Twitter, it’s business as was common for Buterin, because the computer code developer tweeted concerning stealing addresses for ERC721 (non-fungible tokens) NFTs on Mon. “A low-tech approach to feature a major quantity of privacy to the NFT scheme,” the Ethereum co-founder aforementioned.

The post Ethereum Co-Founder Vitalik Buterin Downplays Ethereum PoW Fork, Hopes It ‘Doesn’t Result in Folks Losing Money’ first appeared on BTC Wires.



Source link

Continue Reading

Trending