A South Korean university says that it has become the latest institution in the country to introduce blockchain-powered mobile phone-based student IDs. Per Segye Ilbo, Jeonnam State University stated that its ID cards will use decentralized identity technology (DID). This is the same sort of IT solution that the nation’s police currently use to issue…
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Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open finance,” showing a “super app” that featured PIX (a payments network) functionality, and also integration…
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The collapse of Do Kwon’s Terra empire in May, and Sam Bankman-Fried’s FTX in early November 2022, will be remembered as two incidents that put the crypto industry on the back foot. It is now widely expected that regulators around the world will use the two incidents to justify the establishment of regulatory regimes that…
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Although rare, real-world blockchain utility does exist, now evidenced by one company’s efforts to reduce transactional fees in supply chains. The world is quick to blame inflation for the rising prices at grocery stores and retailers. This was the #1 political issue for recent Election Day voters in the United States. For example, media sources…
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Mike Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings, named two major cryptocurrencies among those that are here to stay despite the massive turbulence seen in the crypto market this year: Bitcoin (BTC) and Ethereum (ETH). The CEO shared his thoughts during an interview with CNBC on Wednesday, stating that,…
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Web3 is the next-era internet based on decentralized architecture and some innovative concepts. Find how Web3 resolves fundamental problems in Web2. What are the challenges with Web3 For mainstream adoption of Web3, prevalent challenges need to be dealt with. These include centralized infrastructure, lack of regulatory clarity and rug pulls. While Web3 is perceived to…
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Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger technology will be “much more convenient.” Russia’s Head of State Urges for Blockchain-Powered International Payments President of Russia Vladimir…
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This year, the number of tokenized bitcoins hosted on alternative blockchains like Ethereum, has dropped a great deal. Last January the number of wrapped bitcoin (WBTC) issued on the Ethereum blockchain was around 266,880 WBTC and since then, the number has dropped by more than 15% down to 225,962 WBTC. Similarly, the quantity of tokenized…
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Blockchain benefits the supply chain industry by enhancing the traceability, transparency and tradability of goods and services that move along the value chain. The future of blockchain-based supply chain? The demand for the blockchain-based supply chain is driven by customers’ need to know the specific source of their items and whether they were made according…
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