Tether Fights Back as It Accuses WSJ of Biased Reporting and Ignoring Real Culprits in Cryptocurrency Industry
The battle between Tether, one of the largest stablecoins in the cryptocurrency market, and the Wall Street Journal (WSJ) has been long and arduous. Tether has been fighting against what it claims is biased and misleading coverage by the WSJ for years, sending the tension to a boiling point. In its latest statement, Tether slammed the WSJ for what it sees as biased reporting and failure to target the “right culprits” in the cryptocurrency industry. This comes after years of allegations and accusations from both sides, with Tether denying claims of artificially inflating the price of Bitcoin and the WSJ questioning the legitimacy of Tether’s backing of USDT tokens.
Tether Becomes Target of Outdated and Misleading Coverage
Tether, the issuer of the USDT stablecoin, has strongly criticized the Wall Street Journal (WSJ) and other traditional media outlets for their negative coverage of the company while simultaneously promoting other cryptocurrency firms that have ended up as some of the biggest financial failures in history.
This scathing attack comes just two days after Silvergate Bank, another high-profile crypto-related company, suffered a significant downturn due to the current crypto winter. Tether’s condemnation of the WSJ highlights the ongoing tension between the stablecoin issuer and the media, with both sides trading accusations and denials over the years.
In a blog post published today, Tether accused the Wall Street Journal of publishing “outdated, inaccurate, and misleading” reports about the blockchain firm. Tether’s post also refuted a recent WSJ article that claimed the company’s operations were not in compliance with US regulations. Tether wrote,
“This conflicts with the reality that Tether operates under substantial financial regulations and cooperates on a near-daily basis with global law enforcement. This includes regular cooperation with the U.S. Department of Justice and other top tier US agencies, while not servicing US-based customers.”
WSJ Published 84 Negative Reports on Tether
Tether has accused the Wall Street Journal of unfairly targeting the Hong Kong-based blockchain firm, claiming that the popular news outlet has a history of “rarely focusing on the right targets” in the crypto industry. Tether pointed to several high-profile crypto firms that have collapsed in recent months, including FTX, Genesis, and Celsius Network, as examples of companies that the WSJ should have been investigating instead.
Tether noted that 84 articles about or mentioning the company in the WSJ from Jan. 1, 2021, to Jan. 1, 2022, are negative. In contrast, Tether said that the WSJ had issued 28 reports about or mentioning FTX, with “almost all of them positive.”
Amidst the current turmoil in both the crypto and stock markets, Tether has released the blog post, coinciding with the liquidation of Silvergate and the collapse of Silicon Valley Bank (SBV) stocks.
The latest blow to the crypto industry with Silvergate’s liquidation further supports Tether’s claims. Tether, which has been subject to intense scrutiny in recent years regarding its solvency and transparency, has weathered significant downturns in the cryptocurrency market. Despite criticism, its USDT stablecoin continues to remain one of the largest cryptocurrencies by market cap.
Bware Labs is disrupting the industry paradigm with the launch of Blast mainnet
Bucharest, Romania,7.03.2023 – Bware Labs, a leading blockchain infrastructure provider, is launching today the mainnet of their blockchain API platform, Blast.
Blast is a blockchain API platform, designed to provide easy blockchain access to the most relevant networks in the blockchain space. Using Blast, developers are able to get RPC, REST and WebSocket access to an ever-growing number of blockchain networks in just a couple of simple steps.
With the launch of Blast’s mainnet, Bware Labs brings about a new generation of blockchain APIs. The speed and reliability of the API platform will rely mainly on the platform’s Proof of Quality protocol, which refers to enabling node owners to permissionlessly join the Blast Protocol as Node Providers, under the condition that their nodes can satisfy the platform’s performance and data integrity standards.
To participate in Blast’s protocol, Node Providers will need to stake tokens, while all other users can earn an APY by delegating to a Node Provider using Blast’s delegation explorer. Blast’s token holders will also play a critical role in governing the platform’s future development initiatives and improvements for the Decentralized Infrastructure Protocol.
Moreover, according to Bware Labs CEO Flavian Manea, Mainnet brings the chance for the community to participate in the protocol by delegating the company’s INFRA tokens to available staking pools.
“The biggest challenge is being true to your word when it comes to what you want to bring to the table. Maintaining above industry-level standards in terms of quality while running the platform in a decentralized manner is definitely not easy” states Flavian. “In order to tackle that we had to find our own routes and methods, that could ensure that the nodes on Blast present the required performance and that would not prohibit the scalability potential of Blast. Now, decentralization is in sight – all hands on deck lads, let’s launch this ship!”
Blast’s mainnet launch is part of Bware Labs’ ongoing commitment to support Web3 developers throughout their entire blockchain journey by providing high-quality solutions that can help them scale their products faster and easier.
The mainnet launch will roll out in stages, and following the end of the Houston Testnet, Bware Labs will start onboarding the testnet participants, while the permissionless onboarding for anyone who wants to become a Node Provider in Blast will come in the following two weeks, along with the launch of the INFRA token and the possibility to delegate it in available staking pools.
Keep your eyes on the announcements from Bware Labs, and be prepared to jump in one of the biggest blockchain infrastructure providers of the year.
About Bware Labs
Bware Labs is creating an infrastructure and development ecosystem to support Web3 builders throughout their entire blockchain journey. The company aims to play a decisive role in worldwide blockchain adoption.
For more information visit the Blast website or contact Bware Labs at [email protected]
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Polygon Closes Major Deal with Lotte Group, Solana Slowly Regains Its Value as TMS Seeks to Disrupt the Trading Industry
The crypto space is always abuzz with activity. There’s always something new happening, whether it’s a new coin launching, a coin losing value, or a stakeholder closing a major deal among other things.
Recently, Polygon closed a partnership deal with Lotte Group, Solana has been showing some bullish signs while TMS Network (TMSN), has introduced a new way to invest with confidence.
TMS Is Revolutionizing the Trading Industry
The TMS Network (TMSN) is an all-in-one trading platform built on the Ethereum blockchain. The platform seeks to change the way people trade by solving the most pressing issues in the trading market. For example, the TMS network addresses the lack of price uniformity, wash trading, price manipulation, transaction delays, insufficient trading experience, lack of trading education, and high trading fees.
With TMS, cryptocurrency traders can connect to the network and follow successful traders. This way, they can closely follow and learn from the strategies of experienced traders and use this knowledge to build their own trades.
TMS also comes with on-chain analytics, portfolio management, strategy builder, and trading bots to provide traders with the tools they need to execute trades with confidence and make informed decisions when trading.
Polygon Closes Major Deal with Lotte Group
Polygon has recently entered a partnership with the Lotte Group, a South Korean conglomerate that manufactures beverages, liquors, food ingredients, and processed foods.
In July last year, The Lotte Group partnered with blockchain company Blocko to launch Daehong communications. The goal of Daehong communication was to develop NFTS for the Lotto Group and other businesses affiliated with the conglomerate.
The first NFT collection for the Lotte Group is known as BellyGom. It was minted in August 2022, on the Klaytn blockchain, which is the biggest blockchain in South Korea.
With the new partnership with Polygon, The Lotte Group hopes to take their NFT project to international markets by making use of the layer -2 Ethereum scaling ecosystem that the Polygon blockchain offers.
Polygon will help the Lotte group accelerate the global advancement of their NFT projects with both domestic and foreign companies. In other words, Polygon’s partnership with the Lotte Group will escalate Daehong Communications to a competitive web-3 player in the global ecosystems by creating a new NFT business model.
All of Daehiong’s previously minted NFTS will be migrated to the Polygon network.
Polygon’s Partnership with the Lotte Group will add to the value and credibility of the polygon blockchain and may even drive the price of MATIC cryptocurrency up.
Solana is slowly regaining its value
Solana has been regaining its value as shown in its recent price of about $23. Since February 14, Solana has been trading between $21.85 to $ 26.04. This is a great improvement from its December 2022 low of $9.89.
Last year, Solana, like most other cryptocurrencies was hit hard by the greatest bear market that the crypto market has ever seen. The cryptocurrency went from, trading at $204.35 in November 2021, to a low of about $32 in September 2022.
The collapse of the FTX cryptocurrency pushed the value of Solana to an average of $9.89 in December 2022. This decline was mainly because Sam Freud was actively involved in campaigning for Solana. When his exchange collapsed, investors quickly dumped their Solana due to fear that eth cryptocurrency might be affiliated with eth FTX crypto exchange.
Although Polygon and Solana are making great strides to move ahead, it is the TMS project that is proving to be the best bet for investors in 2023. You can learn more about the TMS network in the links below.
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Ripple CEO Warns of Crypto Industry Damage if SEC Lawsuit Continues
The United States Securities and Exchange Commission (SEC) is facing backlash from Ripple CEO Brad Garlinghouse over the regulatory body’s lawsuit against Ripple. The lawsuit, which alleges that Ripple sold their token XRP as unregistered securities, is not just about Ripple, according to Garlinghouse. Speaking in a recent interview, he warned that the entire cryptocurrency industry in the US could be harmed if the SEC wins the case.
“The macro headline for me is this is not a healthy way to regulate an industry,” Garlinghouse said. “You’re regulation through enforcement as opposed to what we’re seeing in other countries, where they’re doing the work right there, codifying creating a framework that allows an industry to grow while protecting consumers.”
He lamented that the US is already lagging behind other countries like Australia, the UK, Japan, Singapore, and Switzerland, which have created clear regulatory frameworks for the cryptocurrency industry.
“If the US doesn’t get its act together and move more quickly, all of this is going offshore. It’s just going elsewhere,” Garlinghouse said.
He argued that consumers are already suffering as a result of the lack of clear regulations in the US. Without proper protections, crypto firms are being forced to move offshore, leaving US consumers vulnerable.
Garlinghouse urged regulators to take a more thoughtful approach to regulation, one that recognizes that not everything in the industry is security.
“If your hammer everything looks like a nail and not everything here is a nail, and I think it has to,” he said.
He called for a framework that starts with clear protections for consumers but also allows for the efficient trading, exchanging, and moving of currencies.
The Ripple CEO’s warning is clear: if the SEC continues to regulate through enforcement, the growth of crypto firms in the US will be stifled, and they will be forced to move offshore. It’s time for regulators to take a more proactive approach and create a framework that allows the industry to thrive while protecting consumers.
Crypto Apocalypse: Why America’s Crypto Industry is in Peril
The United States is in danger of being left behind in the rapidly advancing world of cryptocurrency. Financial hubs such as London, Singapore, and Hong Kong are vying for crypto companies to build there, while Europe recently passed comprehensive crypto legislation. Meanwhile, the US risks falling behind due to its lack of pro-crypto policies.
Coinbase CEO Brian Armstrong is leading the charge to fight for the survival and future of crypto in the US. The company has launched a campaign called Crypto 435, which aims to advance pro-crypto policy in all 435 congressional districts across the country.
The campaign seeks to grow the crypto advocacy community and provide tools and resources for individuals to make their voices heard.
The Importance of Advocacy in Crypto
Advocacy for pro-crypto policies is crucial in the US.
Policymakers in Washington, DC, and state capitals across the country are making decisions about the future of crypto. These decisions determine how, when, and where users can build, buy, sell, and use crypto. There is a high pressure on them to get it right as the industry has suffered enough in its absence.
Crypto 435 aims to influence laws and policies, promote innovation, protect jobs, and educate Americans about the power of crypto. The campaign brings the crypto community together and uses strength in numbers to make an impact.
A Race To The end
The risks of the US falling behind in crypto are significant. The current financial system doesn’t work for many Americans, and crypto has the potential to innovate and update it. While there is strong bipartisan support for pro-crypto legislation, lawmakers need to catch up with the rest of the world.
Coinbase has been regulated for over ten years and seeks to build a compliant and regulated industry in the US. However, the US risks being left behind while other countries are actively drawing crypto companies in.
Impact on Altcoins
While the US struggles to keep up with the rest of the world, certain altcoins continue to thrive. For example, the native token of decentralized exchange 0x Labs surged nearly 20% after the protocol agreed to work with Robin Hood wallet and Polygon to build a relay network. The relay network will provide deep liquidity and interoperability, making it easier for users to trade across multiple blockchains.’
Ripple Vs SEC: The High-Stake Legal Battle – Can Ripple Set A Precedent For The Crypto Industry?
As the legal battle between Ripple and the Securities Exchange Commission (SEC) over the sale of XRP continues, the crypto community is anxiously awaiting the outcome. In the midst of this, LBRY, a blockchain-based content distribution platform, is urging Ripple to take the lead in saving cryptocurrency in the United States.
Ripple: The Key To A Bright Future For Crypto In The US
According to LBRY, Ripple is by far the best chance for cryptocurrency in the U.S., as other crypto players in the country are not stepping up to play offense. This means that the future of cryptocurrency in the U.S. is essentially resting on Ripple’s shoulders.
LBRY’s statement is coming at a time when the SEC’s power to provide oversight in the crypto space and the unsealing of vital documents are the main focus of the ongoing case between Ripple and the regulator. The SEC alleges that Ripple sold XRP as unregistered securities and is using the company to establish its authority in regulating the crypto industry.
Debate on Securities Classification Continues
The debate on the classification of cryptocurrencies as securities also continues, with pro-XRP lawyer John Deaton questioning a statement by SEC Chair Gary Gensler alleging that any crypto besides Bitcoin is classified as a security. Deaton argues that there is no consensus on securities classification, and the SEC’s position on XRP is just one interpretation of the law.
Ripple Settlement On The Horizon
Deaton has shared a possible settlement for Ripple and the SEC, where Ripple would pay $100-250 million if the regulator agrees that ongoing and future sales of XRP are not classified as securities. However, he cautions that the likelihood of the SEC agreeing to this approach is minimal, given the agency’s increased crackdown on the digital asset space.
Ripple’s General Counsel, Stuart Alderoty, has also expressed confidence in the company’s case, stating that the SEC has minimal chances of winning at the Supreme Court based on historical outcomes.
Are US Crypto Regulations Suffocating The Industry? Binance’s CSO Sounds Alarm
The crackdown on cryptocurrency companies by the US government has raised concerns about the future of the industry. The Securities and Exchange Commission (SEC) has been imposing fines and penalties on crypto lending firms, while federal banking officials have made it difficult for crypto companies to operate in the country. Binance’s Chief Strategy Officer, Patrick Hillmann, warns that the growing number of crypto regulations targeting stablecoins and exchange tokens puts users at risk.
Binance’s Chief Strategy Officer Speaks out
The chief strategy officer at Binance, Patrick Hillmann, warns that U.S. cryptocurrency laws are becoming increasingly stringent and shortsighted, which might cause serious turbulence in the crypto market or suffocate the growing industry if it persists. Hillmann says that the U.S. has always been a place that has fostered great innovation, but the recent crackdown may come at a cost to investors over time.
Hillmann is particularly concerned about the proliferation of crypto regulations that target stablecoins and exchange tokens, cryptocurrencies whose value is pegged to an external asset such as the dollar or gold. He argues that when such safety nets are taken away from users, it puts them at risk.
Furthermore, Hillmann notes that there is a pressure campaign on U.S. financial institutions to stop servicing crypto, making it difficult for investors to withdraw their money from exchanges or move it to a safe location.
Regulatory board tightens its reins
US regulators have increased enforcement of cryptocurrency rules following the failure of the FTX exchange. The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a warning to banks about the potential risks associated with crypto-assets. The SEC imposed fines on celebrities who promoted cryptocurrencies and targeted staking features on exchanges.
The New York Department of Financial Services ordered Paxos to stop minting Binance’s stablecoin due to management issues. As a result, BUSD lost its market share to competitors USDC and USDT, but remained at its one-dollar value.
Hillman advocates for a more open dialogue between major exchanges and regulators, rather than punitive measures against the crypto industry. He emphasizes that such discussions are crucial for the US to maintain its leadership in the global economy. By working collaboratively, the industry and regulators can ensure the safety of investors and the stability of the market, while also fostering innovation and growth.
Is The Cryptocurrency Industry Experiencing Its First Real Recession?
Bitcoin had its best January since 2013, thanks to bets that monetary tightening and the crypto-sector crisis are both subsidings. It has increased 39% since the beginning of the year, a first-month gain that has only twice been surpassed in the early days of cryptocurrency.
However, the tides appear to be turning. February appears to be another harsh month for the cryptocurrency market. After giving up all of their weekend gains and trading flat on a weekly basis, Bitcoin and other significant crypto tokens were trading down on Monday.
Bitcoin lost roughly 2% of its value and fell under the $23,000 level in the early Asian hours. Most alternative currencies were trading at lower prices, but the losses were limited.
Let’s explore.
Mike McGlone indicates recession can bring an economic reset
Mike McGlone, the Senior Macro Strategist at Bloomberg Intelligence, recently addressed the current state of crypto in a tweet. He claimed that the cryptocurrency market might be entering a true recession, which is characterized by lower asset prices and greater volatility.
In addition, he noted that just as the financial crisis, the most recent severe US economic downturn, gave rise to Bitcoin, this recession too reset the economy and mark similar milestones.
Other analysts have also warned of a recession
Several analysts have issued recessionary predictions before McGlone. By the middle of next year, the U.S. and the rest of the world’s economies are most likely to enter a recession, according to Jamie Dimon, CEO of JPMorgan Chase.
Elon Musk, CEO of Tesla and owner of Twitter, has issued a recession alert. According to him, the recession would be increased alarmingly if the US Federal Reserve raised interest rates once more. As the economies of the US, EU, and China slump, IMF Managing Director Kristalina Georgieva predicted that 2023 will be “tougher” than last year.
To Conclude
Even if the news is constantly predicting a recession, there is no need to become alarmed. Investors can benefit from this phase of output fall by utilizing it. One may survive a recession by doing research, identifying crypto assets with the potential to outperform, employing derivatives, and keeping cash on hand.
Crypto Industry Braces For Massive Selling As FTX To Dump $4.6 Bn Worth Of Altcoins
The crypto industry is bracing for increased selling pressure as FTX, a digital asset exchange, announced its plans to liquidate billions of dollars worth of assets to repay customers. During a House Committee hearing yesterday, FTX CEO John J. Ray III stated that his team had obtained wallet keys containing liquid digital assets.
However, it is estimated that over $8 billion worth of FTX customers’ assets are missing. This news comes as a surprise, as FTX was valued at over $32 billion just a year ago before filing for bankruptcy protection.
Additionally, the FTX crisis is reportedly becoming more complex as investigators are concerned about potential identity theft in order to obtain cash refunds.
“We have located over $5 billion in cash, liquid cryptocurrency, and liquid investment securities,” stated Andy Dietderich, an attorney for FTX, during a hearing in Delaware on Wednesday.
The hearing also revealed that FTX may be able to raise additional funds in the coming months to benefit customers, as the exchange has independent holdings in various countries that could be sold to recover customer funds.
Solana At Risk
According to FTX attorney Andy Dietderich, the exchange plans to liquidate non-strategic holdings with a book value of $4.6 billion. However, it should be noted that this amount does not include the assets that were seized by the Bahamas Securities and Exchange Commission (BSEC), which are estimated to be worth $170 million.
Dietderich stated that the decision to sell these assets is due to their high volatility, which could see the estimated value evaporate in a short period of time.
Among the assets seized by the BSEC are Solana, FTT, MAPS, OXY, WBTC, BONA, and several SPL tokens. Notably, Solana represents the largest portion of the seized assets, with a value of over $700 million, which is mostly locked.
The seized SPL tokens are estimated to be worth approximately $500 million, while the FTT and MAPS tokens are valued at around $575 million and $371 million, respectively. The OXY, WBTC, and BONA tokens are estimated to be worth $127 million, $90 million, and $82 million, respectively.
Coinbase Global director Conor warns that creditors should have low expectations for the $5 billion in recovered assets, as some of the assets are considered illiquid.
The recent revelations have had a minimal impact on the prices of the seized assets. Solana’s price, for example, has gained approximately 65% and 20% in the past 14 days and 7 days, respectively. Additionally, FTT is currently trading at around $1.39, up 16% on Thursday, while MAPS is trading at around $0.04860298, up 2.1% today. Oxygen (OXY) is trading at around $0.01318185, up 0.8% and WBTC is trading at around $18,174.57, up 4.4% today.
Crypto investors should be aware of the potential short-term volatility that may be caused by FTX’s selling pressure. Furthermore, large-scale dumping to the secondary market could cause fear in the bear-trapped market.
Bitcoin Mining Industry Not Optimistic on a Bull Market Coming Soon
Fantastic news! Hashrate Index, a professional mining data company, has made the forecast that the present bear market for bitcoin will terminate in the year 2023. On the other hand, Bitcoin mining industry professionals don’t seem to have a very bullish outlook on the future of the market.
What Hashrate Index’s Predictions Are
According to the findings of the Hashrate Index, it is still much too early for a new comprehensive bull market to emerge. The increase of Bitcoin’s hash rate will also slow down, according to the research, and ASICs, which are application-specific integrated circuits, will become relatively affordable.
The United States was recently hit by a harsh winter storm, and as a result, a great number of miners were forced to turn off their equipment. As a direct result of this, the hash rate for Bitcoin dropped by 35% in only one day. According to the statistics provided by BTC.com, the hashrate has returned to its previous level of 268.84 EH/s after a significant recovery.
Bitcoin’s 80% price decline from its peak to its low is comparable to the 85% and 84% drawdowns seen in 2015 and 2018, respectively. According to Hashrate Index, this bear market may be ending soon based on previous trends.
According to the second forecast on the company’s blog, the pace of increase of the hash rate—a metric of the processing power being used to mine Bitcoin—is likely to decrease starting in 2023.
This is a result of the mining industry being plagued by bad economic circumstances in 2022, which did not provide any incentives for expanding capacity. The boost in a hash rate that is anticipated in 2023, however, will mostly be the result of capacity expansion that was supposed to happen in 2022 but was postponed.
The third forecast is that some publicly traded Bitcoin mining businesses with market caps below $50 million may decide to go private as a result of the extended bear market. As a consequence of the prolonged bear market, the fourth prediction is that some publicly listed Bitcoin mining companies with a market capitalization of less than $50 million may opt to go private.
In any case, Hashrate Index believes that this year will be the year when the bear market finally comes to an end. Let’s see whether their prediction comes to fruition.
3 Major Advancements Rate That Crypto (RTC) Is Bringing To The Crypto Industry
Introduction
The idea of a new cryptocurrency bursting onto the scene may seem like an anti-climax for some investors. Hundreds of new projects are being launched daily, promising investors astronomical returns. Usually, the quote “if it sounds too good to be true, it probably is” can be applied to many of these projects as they have no practical use. However, this is not something that can be said about Rate That Crypto (RTC).
What is Rate That Crypto? (RTC)
Rate That Crypto is an immersive play to earn crypto that emphasises education. You can use your knowledge and expertise to use points to establish whether or not the price of a cryptocurrency will be going up (bullish) or going down (bearish). Once you reach the top of the leaderboard, you will receive a prize pool percentage. As the amount of users grows, the prize pool will also increase.
In essence, it is a demo system where you do not need to wager your money to win one of the available prizes. You can use your points and analytics on the website to move up the leaderboard. In addition, there is a non-custodial wallet where you can store your cryptocurrency.
Risk-Free Gameplay
This could be the main selling point of this unique project. Rate That Crypto (RTC) is unique because it isn’t a project solely after your money. The mechanism in place is a points system which utilises a points-based leaderboard.
It is fully authentic, based on bullish and bearish predictions, and you cannot purchase places on the leaderboard. Users can watch video ads to generate new points if they run out. This opportunity is provided three times a day.
Educational
As we touched on in the introduction, the main purpose of Rate That Crypto (RTC) is for educational purposes. You can use the real market sentiment and price to predict whether a cryptocurrency will be bullish or bearish.
By learning how the markets move without having to stake your own money, you can become familiar with the patterns to look out for, so building your knowledge of the market will better equip you to use your money when you trade in the future. However, the market is unpredictable. Even if you do begin to understand how it works and think the price will move in a specific direction, your capital is always at risk.
Gameplay
Combining education and gameplay can be a hard sell. Usually, it isn’t easy to combine the two. However, this is where Rate That Crypto (RTC) stands out in the market. Not only is it risk-free and educational, but you can also have fun whilst combining these other two features. Racing to the top of a leaderboard to receive Rate That Crypto (RTC) tokens as a reward is where the fun lies with this project.
Conclusion
Having to boil this list down to just three positives proved to be quite difficult. There are a huge number of other benefits to this cryptocurrency. Other key features include a fully developed app available on iOS and Android stores during phase two. In addition, the team has been fully doxxed. You can see the team’s extensive experience and expertise by looking at the whitepaper.
As well as the fact NFT holders can obtain revenue distribution, which could be worth thousands of dollars in the future. This depends on token volume and how the project develops once it enters the second phase of its launch. Phase three includes the token launch on PancakeSwap and listings on both CoinGecko and CoinMarketCap.
Whilst some of these features are part of a process that a lot of coins follow when they first start, it shows the project has solid fundamentals and has a clear and concise road to becoming a success.
More Details :
Twitter – https://twitter.com/ratethatcrypto
Telegram – https://t.me/ratethatcrypto
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BudBlockz (BLUNT) Token Is A Steppingstone To Tokenize The CBD Industry
When you talk about powerful crypto and NFT prospects in the coming year, it doesn’t get better than BudBlockz. The company is making some pretty big waves in the blockchain community and has successfully raised crypto whales’ confidence and other investors’ confidence. After all, the company managed to generate up to $1 million in revenue in its private sale round shortly after it launched in the second half of 2022. That’s extraordinary.
There’s no doubt that BudBlockz has managed to be a massive ray of sunshine amidst the crypto winter we’ve all been experiencing since the start of 2022. And according to blockchain analysts and investors, the company’s native crypto (BLUNT) will likely rule the crypto marketplace in 2023.
BudBlockz NFT, BLUNT & CBD Prospects
BudBlockz is a one-of-a-kind cannabis crypto project successfully revolutionizing the CBD and legal marijuana industry. Cannabis lovers and potential investors worldwide are excitedly looking forward to becoming a part of the BudBlockz community. Why? Well, the company is already bringing marijuana and CBD users and businesses together on an authentic and decentralized finance blockchain platform. In addition, it’s making it easier for people to buy and sell CBD products without fear of scrutiny.
Moreover, BudBlockz is also strategically positioned to captain the merge between the CBD industry and blockchain because it chose to capitalize on the fact that many countries will soon legalize recreational marijuana use. It is one of the primary reasons experts state that the CBD industry will grow to $200 billion in the next ten years. And 2023 is going to be an exciting year for cannabis users.
BudBlockz members will use their $BLUNT coins to conduct seamless and secure private transactions on the company’s e-commerce platform. However, what’s even more exciting is the launch of the company’s NFT collection called Ganja Guruz. This 10,000 NFT collection is available on both OpenSea and Rarible.
The Power of Ganja Guruz
BudBlockz’s NFTs are inspired by 90’s retro video games and offer more than just aesthetic value. You see, with Ganja Guruz, BudBlockz members will have the chance to become fractional stakeholders in a variety of CBD businesses across the BudBlockz blockchain. Additionally, it will allow users to earn money through dividends.
Furthermore, Ganja Guruz owners will be able to access exclusive CBD and marijuana markets that $BLUNT users won’t. In addition, they will be given weekly and monthly promo codes to buy CBD products at discounted rates. There is no doubt, BudBlockz is here to stay, and it is going to dominate the legal marijuana industry throughout the world.
Why BudBlockz?
BudBlockz is a forward-thinking and highly innovative crypto project standing on the horizon of explosive success. The potential return on investment on $BLUNT is massive! Hence, you should add it to your portfolio at an early stage to earn massive profits.
Snowfall Protocol And ChainLink Bringing Change To The Blockchain Industry! Ripple Remains Stuck In Court Battle!
Snowfall Protocol and ChainLink are two major players in the blockchain industry pushing for change. Snowfall Protocol (SNW) is a cross-chain bridge that enables users to swap assets between different blockchains, while ChainLink provides a secure way for smart contracts to interact with external data. Both projects are aiming to make blockchain technology more accessible and usable. Meanwhile, Ripple is still embroiled in a court battle with the US Securities and Exchange Commission, with the outcome of the case yet to be determined.
About Snowfall blockchain, ChainLink, and Ripple
The blockchain industry is constantly evolving, with new technologies and protocols emerging in order to make the sector more efficient. One such protocol is Snowfall Protocol (SNW), and another is ChainLink. Meanwhile, Ripple, a major player in the blockchain sector, is stuck in a court battle. In this blog, we’ll take a look at what Snowfall Protocol (SNW) and ChainLink are, how they work together, and the court battle that Ripple is involved in.
What Is Snowfall Protocol?
Snowfall Protocol (SNW) is the world’s most efficient cross-chain bridge. It is designed to enable users to transfer assets across the most widely used EVM and non-EVM compatible chains. Snowfall Protocol (SNW) simplifies the process of communication between blockchains, removing technical barriers and allowing every user the same ability to engage within their favorite projects.
What Is ChainLink?
ChainLink is a decentralized oracle network that provides blockchain smart contracts with access to off-chain data, such as market prices and currency exchange rates. This allows smart contracts to interact with external resources, such as web APIs and payment systems, in a secure and reliable manner.
What Is Ripple?
Ripple is a major player in the blockchain industry. It is a global payment network that enables banks and financial institutions to send money around the world quickly and securely.
Snowfall Protocol and ChainLink
Snowfall Protocol (SNW) and ChainLink together bring more efficient and secure cross-chain asset transfers. By combining the two protocols, users are able to securely transfer assets between different blockchains. This allows users to take advantage of the benefits of both protocols and create a seamless connection between multiple blockchains.
The combination of ChainLink and Snowfall Protocol (SNW) provides users with a number of advantages. First, it enables users to securely transfer assets across different blockchains. This removes the need for users to manually transfer assets between blockchains, saving time and effort. Second, it ensures that the data used in the transfer is secure and reliable. Finally, it allows users to take advantage of the benefits of both protocols, such as speed and security.
Ripple Court Battle
What Is The Court Battle About?
Ripple is currently involved in a court battle with the Securities and Exchange Commission (SEC). The SEC is accusing Ripple of selling unregistered securities in the form of XRP, the digital currency used on the Ripple network. Ripple denies these allegations, arguing that XRP is not a security.
What Are The Outcomes?
The outcome of the court battle is still uncertain, as the case is ongoing. However, if Ripple is found guilty, it could face hefty fines and the possibility of having to register XRP as a security. This could have a major impact on the Ripple network, the price of XRP, and the wider blockchain industry.
What We Can Expect in the Future
The outcome of the court battle between Ripple and the SEC is still uncertain. However, one thing is for sure: Snowfall Protocol (SNW) and ChainLink are bringing much-needed change to the blockchain industry. These two protocols are simplifying the process of communication between blockchains and provide users with more efficient and secure asset transfers. As the blockchain industry continues to grow, we can expect Snowfall Protocol (SNW) and ChainLink to play an important role in the future.
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After Industry Favourite Plona (PLON) Raises $500,0000, Algorand (ALGO) and Chain (XCN) Will Try to Compete – Coinpedia Fintech News
Why should you invest in the blockchain industry? Since Bitcoin (BIT) launched in 2009, various cryptocurrencies have come to life, offering productive features that have made the lives of traders easier. Plona (PLON) is one of those cryptocurrencies that offer abundant features and streamline how people manage their finances.
Algorand (ALGO) is fighting for a comeback.
Algorand (ALGO) is one of the few leading blockchain platforms aspiring to expand the possible use cases for cryptocurrency. The platform was designed to function as a major payment processor by accelerating transaction speeds and reducing the time it takes transactions to complete on its network.
The Algorand (ALGO) platform enables users to create smart contracts and uses a consensus mechanism it calls pure proof-of-stake (PoS). With a native coin that secures the platform and rewards the ecosystem’s governors, Algorand (ALGO) is currently valued at $2.2 billion. However, Algorand (ALGO) is down by nearly 6% after last week.
Chain (XCN) falls even further in the crypto market.
Chain (XCN) is a governance and utility token for the Chain Protocol launched in 2014. The platform provides various case-use applications for Chain token (XCN) holders to utilise. Additionally, outside of voting on the Chain (XCN) Protocol, users can also stake XCN to secure the protocol and earn rewards.
Furthermore, the platform was designed to offer a range of products and provide for Web3. Chain (XCN) products are more accessible to launch and run a blockchain network. The platform saw $14 million worth of Chain tokens (XCN) traded for $0.05838 in the last 24 hours. Chain (XCN) is down nearly 13%, and its investors are starting to worry.
Why is everyone talking about Plona (PLON)?
What is Plona (PLON)? Plona (PLON) is an Ethereum-based non-fungible token (NFT) collection developed by a group of professional blockchain specialists, leading the way for fractional ownership by tokenisation of luxury cars. This method allows investors in the cryptocurrency market to own a portion of their favourite luxury and exotic automobiles.
Plona (PLON) phase one presale has begun, and now investors can purchase one Plona (PLON) token for $0.012, and for $29, they can purchase a fraction of some of the most exotic cars worldwide.
Investors in Plona (PLON) will receive parallel-backed minted NFTs championed by premium cars in the real world. These cars are insured and kept in a safe unit for each investment. Cryptocurrency experts believe the Plona (PLON) token can beat Algorand (ALGO) and Chain (XCN) in the coming years, predicting a 3,000% gain by the end of January alone. The platform aim to raise $500 thousand in the second week of its presale.
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How NFTs Are Revolutionising The Concierge Industry
HNWIs frequently rely on concierge networks to save time, travel, and access events and services that are otherwise inaccessible. Demand for concierge memberships declined through the 2010s following the 2008 recession, but the market is steadily on the rise again. A recent market report by Spherical Insights & Consulting forecasts aCAGR of 6.10% in the concierge market during the period of 2021-2030.
In a surprising upward market turn, demand for concierge services boomed following the pandemic, which saw HNWIs seek refuge in private yachts, jets and other exclusive spaces. In addition, trends show that the newly financially mature millennial generation are more willing to spend money on experiences and services rather than material items than previous generations. However, while business is booming, the structure of the industry is growing increasingly outdated.
The issue with the traditional concierge memberships
Traditional concierge memberships are notoriously expensive, but they come with no real sense of ownership. Mid-level luxury concierge memberships in the UK can easily set back members up to £25,000 per year, while other high-end memberships can cost an eye-watering lump-sum of £400,000 for lifetime access. Drunken Monkey Members’ Club is an NFT project that’s on a mission to revolutionise the concierge industry by tokenizing concierge memberships through Ethereum-based NFTs which double-down as your access pass.
A membership that is sellable on the secondary market
The Drunken Monkey concierge network extends across twenty global destinations and is managed through a user-friendly app that gives members personalised invites to exclusive events, travel destination guides and more.
The London-based NFT project first launched eight months ago, minting 1,000 NFTs in their private round. There are 5,995 NFTs in the total collection, with each one corresponding to a life-time access concierge membership. This membership is a 24/7 digital asset that is fully tradable on the secondary market, enabling members to fully redeem the cost of their membership if and when they no longer find use for the services on offer. Considering the underlying value of these NFTs, the price they could reach is anyone’s guess.
More than consuming experiences: DMMC have drawn up plans to launch a Monkey DAO in 2023, which will be an incubation fund for early stage digital asset tokens, driven by a token called NUTS. Since launching, the DMMC floor price has increased month-on-month, even while other blue-chip projects have seen steep decreases.
While the crypto market is volatile, it’s clear that the desire for concierge services – to travel, dine and enjoy with ease – isn’t. The Drunken Monkey Members’ Club may just mark an seminal overlap between two industries that were once far apart.
Fintech Connect Launches “Fintech In Flux” Industry Benchmark Report Reveals Adapting To Consumer Demand And Investment In Tech Are Key For Winning Edge
FinTech Connect 2022, Europe’s only dedicated fintech event for the entire ecosystem, today released its 2022 Industry Benchmark Report, Fintech in Flux: Thriving in the Age of Uncertainty, showing that customers remain the biggest focus, with 86 per cent of respondents investing in AI to stay competitive.
As the fintech arms race continues, the report shows that institutions of all sizes continue to embrace technologies in a bid to meet the demands of modern consumers and drive greater efficiency and insight – with 86.6% of respondents believing that investing in tech is necessary for the winning edge.
AI is the technology favoured by most, with countless applications, such as fraud detection, credit risk analysis, and automating customer support, continuing to set the industry abuzz.
Harnessing technology to improve the consumer experience and drive efficiency has long been the hallmark of this most disruptive of sectors, however, as we emerge from the tail end of the global pandemic and into the fresh tumult of cost-of-living crises and looming recessions, a massive 76% of institutions say that understanding the changing nature of consumers is also a prime concern.
Driven by these same pressures to keep up with the pace of change, identifying new trends and technologies is a major preoccupation for 60 per cent of FS players, with a similar proportion (62.6 per cent of respondents) planning to delve into decentralised systems, suggesting that understanding the impact of DeFi and blockchain could hold the key to their futures.
Other key findings include:
· Automation is on the move, with over 50 per cent of respondents already automating recurring tasks
· Over 70 per cent of FS players cite market volatility and monetary policies as the key factors keeping them awake at night
· Central Bank Digital Currencies (CBDC) are getting closer, with more than 50 per cent of respondents believing they have the potential to completely change consumer payments
· 30 per cent of respondents see Scandinavia and Benelux as the trailblazers, as payment innovation continues across Europe
· Only 28.6 per cent of respondents are clear on how the Metaverse will affect their organisation
· Cybersecurity risk continues to grow, with 60 per cent of respondents citing it as a key focus
· The Crypto Winter hasn’t harmed adoption, with over 40 per cent of respondents stating that they will return if regulated, and 20 per cent confident they will bounce back either way.
Laurence Coldicott, Senior Content Director of Fintech Connect 2022, says:
“It is clear that 2022 has provided an unexpected crossroads. Incumbent financial institutions have had to put their digital transformations in warp drive, with new technologies – that were previously only being looked at – now in the process of being adopted and rapidly deployed.
“Many FIs are focussed on building frameworks that will allow them to better embrace FinTech and thrive in an age of increasing uncertainty, while partnering with FinTechs for a seamless banking system, or managing a hybrid or remote workforce, are other significant drivers for 2023.
“FinTech is avoiding the trough of disillusionment and at a place of real excitement; and this survey seeks to address where we go next”.
Surveying 150 CXOs, CEOs, Founders and FinTech Leads from across the UK & Ireland, Benelux, the Nordics, and the Rest of Europe, FinTech Connect utilised their exceptional database of contacts to engage with the digital leaders at the centre of the global fintech paradigm.
Now in its ninth year, FinTech Connect 2022 is taking place between 30th November and 1st of December 2022, at the ExCel centre in London’s bustling docklands, and is set to welcome more than 3,000 attendees, who, over the course of two days, will hear from and meet the global fintech industry C-suite leaders and start-up innovators defining the course of the industry – all under one roof.
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Details On Industry Recovery Fund Next Month
At the start of this week, Binance CEO Changpeng Zhao announced his plans to launch an industry recovery fund to support the projects that are affected by the liquidity crisis after FTX collapsed. During today’s crypto conference at Abu Dhabi Global Market, CZ claimed that the exact amount for the industry recovery fund is still unknown and many other investors have shown interest to support the move.
However, CZ has refused to name other crypto exchanges and investors who have come forward to support Binance. On the other hand he said that the complete details on Crypto industry recovery fund will be disclosed in the next two weeks.
India’s High Tax on Crypto Will Kill the Industry – Says Binance CEO
Binance CEO Zhao Changpeng, during the Global fintech panel in Singapore, said that the high tax rates on crypto would kill the industry in India. These sentiments come after the government of India introduced a tax plan that has adversely affected the crypto industry in the country tremendously.
Notably, a 30 percent tax rate on crypto transactions was announced by India’s Finance minister Sitharaman Nirmala during the 2022 budget hearing. In addition, the government of India gave a directive of an extra 1% tax deduction on all crypto transactions.
Reportedly, one of the largest crypto exchanges in India WazirX reported a decline of around 70% in daily transactions after the government imposed heavy taxation. As of October 2022, the average transaction had dropped to $1 million. It is a 90% decrease from the previous times before the tax decree. Zebpay, another popular exchange in India, reported a decline from $122 million in October 2021 to $1.26 million currently, according to nomicsdata.
Zebpay’s CEO Avinash Shekhar said the government should deduct the imposed tax rates and the 1% transaction tax. He said this after expanding the crypto business to Singapore and Dubai.
He noted that India’s high crypto tax rates had affected the brokers, including WazirX, which laid off nearly 45% of its staff. According to Shekhar, Zebpay has also been affected by these laws and has executed salary cuts of up to 6%.
India on Crypto Regulations
India has attracted key layer 1 blockchains like Ethererum and Binance seeking the large market share. Moreover, India is one of the most populated countries with over 1 billion during the latest census. Nonetheless, the country’s regulators have been keen to regulate the crypto industry to protect investors from exploitation.
In 2013, four years after Bitcoin’s launch, India saw the opening of its first cryptocurrency exchange. The Reserve Bank of India passed a law banning cryptocurrency, claiming that virtual currency was not legal tender. Without resolving, the topic was discussed by the government for four years. In 2017, the Ministry of Finance and the RBI established a committee overseeing cryptocurrency.
The RBI imposed a ban in 2019 due to the expansion of the crypto businesses in the country. Later, the RBI’s order that prohibited cryptocurrency exchange in India was declared illegal by the country’s Supreme Court in 2020, which resulted in the retraction of the restriction.
The Indian government announced it would launch a digital currency in January 2021. Furthermore, the government declared in November that it would regulate cryptocurrency rather than ban it.
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Plona (PLON) Stage One Presale Can Sell Out and Surpass Quant (QNT) and Cardona (ADA) in the Blockchain Industry
Cryptocurrencies are the hot topic of the moment. As more people worldwide look for alternative ways to manage their finance, they turn to the blockchain industry to fulfil this need. The traditional centralised method of making transactions is going out the window. Cryptocurrencies like Quant (QNT), Cardano (ADA), and Plona (PLON) are promoting the decentralised finance (DeFi) ecosystem. Plona (PLON), a recently released coin, is at the forefront of this initiative, making headlines.
Quant (QNT) suffers a 9.3% loss, worrying its investors.
The Quant (QNT), created by CEO and founder Gilbert Verdian, is a cryptocurrency on the Ethereum blockchain. The platform serves fintech developers, banks, asset managers, and other financial institutions. Quant (QNT) aims to connect public blockchains and private networks, enabling linking and flexibility between global networks and chains.
With aims to connect blockchain and networks, Quant (QNT) was developed to bring forth what Gilbert Verdian calls the “Internet of Trust”. Quant (QNT) is down by 9.30% and is looking to recover from a poor week. At a price of almost $200, new-time investors might want to consider cheaper options in the crypto market.
Cardona (ADA) loses 8% of its worth over the past week.
Cardano (ADA) was established based on peer-reviewed research and is regarded as the first proof-of-stake platform to apply tested techniques for application development. Some of the most well-known people in the industry make up its engineering team. Cardano (ADA) is giving its customers the security and stability they need to run their decentralised applications through technological advancements.
Charles Hoskinson, an Ethereum (ETH) platform co-founder, developed the cryptocurrency Cardano (ADA) in 2015 intending to foster innovation and positive change in society. About $422 million worth of Cardano (ADA) tokens were traded in the last 24 hours. Cardano (ADA) is down by 8% and is looking to make a comeback in the following week.
Plona (PLON) can sell out 140 million tokens during the stage one presale.
A team of luxury car enthusiasts and blockchain experts created Plona (PLON), an Ethereum-based cryptocurrency blockchain. The team wants to bring luxury cars to the blockchain industry by providing a way for crypto investors to own a fraction of their favourite exotic automobiles around the world for $29. Plona (PLON) will provide its users with exclusive networking events by partnering with premium car dealers.
Plona (PLON) token holders will also benefit from a 2.5% transaction fee on all network transactions. The team has also dedicated 2% of Plona (PLON) tokens to a charity of the community’s choice. Plona’s (PLON) phase one presale has started with 140 million coins available on launch. Investors have already speculated all 140 million tokens will sell out before the presale stage ends.
Learn more about Plona (PLON) and join its presale using the following links:
Presale: https://buy.plona.io
Website: https://plona.io
Twitter: https://twitter.com/plonatoken
Telegram: https://t.me/plonatoken
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Snowfallprotocol.io (SNW) And The Importance Of Interoperability For The Blockchain Industry
Imagine a world where you can freely exchange assets between any two blockchains. This is the world that Snowfallprotocol.io (SNW) is building. We are the first cross-chain transfer ecosystem, and our goal is to remove all technical barriers so that everyone can engage in their favorite projects.
Our dApp enables users to swap assets across the most widely used EVM and non-EVM compatible chains. With Snowfallprotocol.io (SNW), you will have the fastest, cheapest, and most secure way to transfer assets between blockchains!
In this article, we’ll explain the importance of providing the multi-chain solution that the blockchain industry desperately needs and how our mission statement aligns with this ambitious, yet achievable goal.
So, if you have ever been hindered by a lack of interoperability or would like to learn more about how Snowfallprotocol.io (SNW) is working to create a more inclusive environment for all blockchain projects, then read on!
The Importance of Interoperability For The Blockchain Industry
The first thing to understand is that interoperability is key to the success of the blockchain industry. With so many different projects being built on various blockchains, there must be a way for these different chains to communicate with each other.
Unfortunately, the current state of affairs is far from ideal. Each blockchain exists in its own silo, with very little interaction or communication with other chains. This creates a number of problems, including:
Limited Adoption: When users are locked into a specific blockchain, they can only participate in the projects built on that particular chain. This limits adoption and hinders the growth of the overall industry.
Increased Complexity: The lack of interoperability also makes it more difficult for users to understand and use different blockchains. This further limits adoption and slows down the rate at which the industry can grow.
Fragmented Ecosystem: The current situation also leads to a fragmented ecosystem, where different blockchains are competing against each other instead of working together. This is not conducive to the long-term success of the industry.
Something needs to be done to address these problems and move the industry forward. This is where Snowfallprotocol.io (SNW) comes in.
The Mission of Snowfallprotocol.io (SNW)
Our mission is to provide a simple, yet powerful cross-chain transfer ecosystem that will enable users to swap assets across different blockchains. We believe that this is the key to unlocking the true potential of the blockchain industry.
With a user-friendly mobile application, everyone from new blockchain users to expert crypto enthusiasts will be able to benefit from the Snowfallprotocol.io (SNW) platform.
We are building the highways needed for millions of people to communicate with every blockchain. Snowfallprotocol.io (SNW) is the most efficient interoperable cryptocurrency market where assets can move freely across chains unhindered. It is the fastest, cheapest, and most secure way you can transfer assets between blockchains.
In short, our mission is to provide the solution that the blockchain industry desperately needs in order to unlock its true potential. We believe that our platform will help to promote adoption and grow the industry as a whole.
As the Snowfallprotocol.io (SNW) mission statement goes: “To provide cryptocurrency traders with a DeFi platform unmatched by our rivals and thrive in the cryptocurrency realm.” This mission statement is accompanied by a roadmap that will help ensure the success of our protocol. Make sure to stay tuned for more updates on our progress!
For more information about Snowfallprotocol.io’s (SNW) Pre-sale
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfall coin
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The Impact of Cryptocurrency on the Gambling Industry
It’s no secret that the gambling industry has grown by leaps and bounds in recent years. The rise of online casinos has made it easier than ever for people to enjoy their favorite casino games from the comfort of their own homes. You can look for some good casinos from this source.
But as the gambling industry continues to evolve, it’s starting to embrace new technologies – such as cryptocurrency – in a big way. Cryptocurrency is starting to have a major impact on the gambling industry, and it’s poised to change the landscape of gambling as we know it.
Gambling operators have started to recognize the potential of cryptocurrency and are beginning to accept it as a form of payment. One of the benefits of using cryptocurrency for gambling is that it offers anonymity. When you use cryptocurrency, your personal information is not attached to your transaction like it would be if you used a credit card or bank account.
Cryptocurrency also offers fast transactions. Traditional methods like bank transfers can take days to process, but transactions are typically processed within minutes with cryptocurrency. This is a major advantage for gamblers who want to withdraw their winnings quickly.
The anonymity and fast transactions offered by cryptocurrency make it an attractive option for both gamblers and gambling operators alike. As more people become aware of cryptocurrency and its benefits, we expect to see even more growth in this area of the gambling industry.
How crypto has made gambling more secure and trustworthy
Cryptocurrencies have made gambling more secure and trustworthy by eliminating the need for third-party intermediaries. With crypto, transactions are peer-to-peer, which means that there is no middleman involved. This makes it much harder for anyone to tamper with the transaction or steal any money.
In addition, cryptocurrencies are also very transparent. All transactions are recorded on a public ledger, which means that everyone can see where the money is going. This makes it much harder for anyone to cheat or commit fraud.
Overall, cryptocurrencies have made gambling more secure and trustworthy by making it easier to track transactions and eliminating the need for third-party intermediaries.
How crypto has made gambling more anonymous and private
Cryptocurrencies have made gambling more anonymous and private by allowing players to deposit and withdraw funds without going through a third party. This means that players can keep their personal information safe and secure, and they can also avoid any fees that may be associated with traditional methods of gambling.
Are there any risks associated with using crypto for gambling?
There are a few risks associated with using cryptocurrency for gambling. First, since cryptocurrency is still a relatively new technology, it is always possible to be subject to sudden changes or fluctuations that could affect the value of your coins. Second, if you’re using an exchange to convert your fiat currency into cryptocurrency, there is always the risk that the exchange could be hacked and your funds stolen. Finally, suppose you’re using a centralized gambling platform that accepts cryptocurrency. In that case, there is always the risk that the platform could be shut down or otherwise inaccessible, leaving you unable to access your funds.
To sum up, cryptocurrency provides a new level of security for online gambling that could potentially lead to more customers.
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PoshCoin To Accelerate The European Cannabis Industry With Blockchain
PoshCoin is developed to address market inefficiencies, including monetization issues in the European cannabis market. It will offer blockchain solutions for the cannabis sector’s problems. These include lack of transparency, insufficient tracking of the supply chain, mistrust of systems for monitoring both patients’ and products’ conditions, etc. In this blog, we will look at how PoshCoin will negate these problems and help the European cannabis market grow.
Blockchain for cannabis
Daniel Daboczy, CEO of Technicorum Holdings, said, “North America has shown how cannabis tax revenues and earnings may offer more opportunities, but the European cannabis business has lagged far behind.” But all these will change soon with PoshCoin entering the European cannabis industry.
PoshCoin uses blockchain technology to simplify
- payment and processing
- inventory management
- patient monitoring
- tracking from seed to shelf
- management of medicinal cannabis cards
- and introduction of NFTs and DeFi into the cannabis ecosystem
PoshCoin not only offers a chance to get ahead but also a chance to properly take advantage of the potential in the European cannabis industry. It also assures a secure and responsible approach to this rapidly expanding sector and anticipated legalizations. We think that the legal cannabis business will profit from having its own monetary system. In addition, it will also have some of the most cutting-edge technology with the introduction of PoshCoin and its decentralized payment interface.
A solution for banking problems
In the cannabis industry, using crypto tokens or digital assets like PoshCoin to raise finance is becoming increasingly widespread. As cannabis is still illegal in many nations, participants find it challenging to raise money through public offerings or other conventional methods. This is where blockchain technology is emerging as an alternative method of financing.
Despite not being able to access financial services via decentralized financing (DeFi), cryptocurrencies have enormous potential. They have the power to level the playing field between big, well-funded multistate operators (MSOs) and small companies, such as those that are owned by minorities and social justice licensees.
Therefore, PoshCoin, with its highly advanced decentralized and open payments system, will allow the cannabis customers in Europe to navigate through the legal implications of the banking institutions. While the Latin American cannabis industry is way ahead by adopting cryptocurrencies like PoshCoin, it is time for the European cannabis industry to follow suit.
An opportunity for the medical sector to adopt cannabis
Per recent trends, people are developing a good perspective toward medical marijuana.The European Court of Justice decided around the end of 2020 that CBD—a component of the cannabis plant with therapeutic benefits—is not a narcotic substance. Soon after, the UN Commission on Narcotic Drugs categorized cannabis and crossed it off a list that included heroin and other dangerous opioids, marking another historic step.
In the UK as well, there have been indications of mainstreaming the cannabis industry. British American Tobacco invested in a second Canadian cannabis startup a few months after purchasing a 19.9% share in the first company earlier this year. In addition, Cellular Goods, a cannabis company with headquarters in London that debuted on the London Stock Exchange earlier this year, made news when rumors surfaced that David Beckham was endorsing it. The company will introduce its skincare items in the fall.
To sum up
These recent developments pertaining to the cannabis industry in the European continent point toward promising growth in the coming years. And the entry of PoshCoin, – an exclusive cryptocurrency for the cannabis industry will fuel the faster adoption of cannabis in the European continent.
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Could Blockchain Technology Become a Staple in the iGaming Industry?
The iGaming industry is incredibly competitive. With hundreds of different brands all offering online casino games to their players, they have to work hard to stand out from the crowd. One way that they do this is by running promotions that include bonuses for new players, either after signing up or after making their first deposit. There are so many of these around that sites like oddschecker have begun to list all the available offers so that players can find the one that’s right for them.
Of course, bonuses aren’t the only way that iGaming brands try to differentiate themselves. Many also turn to technology to expand and enhance their offering.
For instance, you’ll find that some leading companies have begun to develop virtual reality games to offer a unique type of experience that cannot be found elsewhere.
However, with the exception of a few smaller and offshore sites, there aren’t many iGaming platforms that make use of the blockchain.
Could this change? After all, there has been a lot said about how the blockchain and its different implementations could help to revolutionize many industries, including iGaming.
Cryptocurrency
The most obvious implementation of blockchain technology in iGaming is accepting cryptocurrencies.
Since online casinos and betting sites accept payments from their punters and then payout to those that place winning bets, digital tokens like Bitcoin could easily replace fiat currencies in this case.
There are some limited implementations of this already. Firstly, there are niche sites that use cryptocurrencies for both deposits and wagers, completely doing away with any traditional money.
The second approach is to only use digital tokens for deposits. In this case, a player might use a cryptocurrency to fund their account, but it will be converted to dollars, euros, or pounds by either the payment processor or casino before any betting can take place.
The latter is more practical for major iGaming companies as it removes the currency risk associated with exchange rates. However, it negates much of the point of using a cryptocurrency in the first place.
More widespread adoption in this area is likely not going to happen until digital money becomes adopted by the majority of people. Therefore, it could be some way off.
Using Smart Contracts
Aside from cryptocurrencies, smart contracts were one of the first ideas that blockchain enthusiasts championed.
They work by using the public ledger to create a record of an agreement and have an automated trigger mechanism for ensuring one party pays another.
Those that have been involved with the technology for some time have been championing the different possible uses for smart contracts, with applications ranging from real estate to shipping and iGaming.
Smart contracts could allow for “provably fair” games, a term that essentially refers to transparency, since it would permit anyone to audit the ledger to check payouts were made to winning players.
This sounds great on paper, but the reality is that smart contracts are a solution to a problem that has already been solved.
In most regulated markets, licensing requires inspections and audits, ensuring fairness in games. Similarly, most casino games are created by developers that use external parties to verify their creations are fair and accurate.
NFTs
NFTs, or non-fungible tokens, are a more recent development along our collective crypto journey.
They allow a record of ownership to be left on the blockchain, ensuring someone’s right to something is publicly provable.
They became the topic of much discussion in 2021 as people raced to buy up digital art pieces, mostly in the hope of flipping them for a profit later.
NFTs have already found their way into iGaming with one slot software company buying some digital artwork and incorporating it into one of their games.
There are other possible uses too, such as providing NFTs as prizes instead of, or as well as, cash. This could be done digitally with the provable scarcity of the technology helping to add value to such prizes.
We’re also seeing moves to incorporate NFTs into other types of games, with publisher Ubisoft already launching its own platform for them.
If iGaming follows this trend, NFTs could well be the means for blockchain to thrive in the industry.
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Fazzaco Expo Dubai 2022 – A Leading B2B & B2C Gathering for the Global Fintech Industry
Fazzaco Expo Dubai 2022 will make its debut in Dubai on October 12-13, 2022 at Festival City-Festival Arena. It is a high-quality B2B+B2C event offering seamless networking opportunities for decision-makers, executives, managers, IBs, and traders across the financial and fintech industry, including PSPs, CRM providers, brokers, liquidity providers, trading software providers, white label providers, and blockchain companies, to name a few.
Various online / in-person events are here to happen, aided by LEDs and displays, with numerous onsite gifts and non-stop seminars, turning Fazzaco Expo Dubai 2022 into a fresh and lively financial show you’ve never seen before, allowing everyone to get more out of it.
Why You Shouldn’t Miss Fazzaco Expo Dubai 2022
– Free admissions. Fazzaco Expo provides free admission for all registered visitors. You can register it both on Fazzaco Expo site or at the entrance. To get fast access, we highly recommend online registration.
– Exciting prizes! Whether you are coming here to look for potential partners, clients, or just wanna stay tuned to the fintech industry, or maybe just want to browse a bit. You have the chance to win a prize too! We prepared loads of prizes from iPhone 13 Pro, to Samsung Galaxy S22 and even more!
– Much more networking Opportunities. About 10,000+ visitors will attend expo, it will be a great opportunity to grow your business network and meet your old friends.
– Most engaging content. Non-stop speeches and panel discussion will refresh your mind and make it possible to discuss with industry leaders face-to-face.
– Distinctively immersive experience. Eye-catching visual experience from 6 big LED screens brings you into an immersive Expo that’s totally different from what you’ve seen before.
Time: October 12 – 13, 2022
Location: InterContinental Dubai Festival City – Festival Arena
Expo link: http://expo.fazzaco.com/
Contact：[email protected]