As we navigate the rapidly uncharted terrain of blockchain and crypto-assets, Singapore’s largest bank, DBS immerses itself into the metaverse with a new concept that aims to leverage this technology for good. Representing a ‘gamified adventure’, DBS BetterWorld attempts to spotlight the global issue of food wastage. While the intriguing premise offers an opportunity for gamers to partake in a transformational experience, one cannot help but wonder if the purported real-world impact of such an initiative will translate as envisaged.
However, the potential of the metaverse and crypto-assets doesn’t simply paint a rose-tinted picture. Reports surface that the UK government is contemplating a total ban on cold-calling for consumer financial services, encompassing electronic money and crypto-assets. The initiative, a reaction to escapades defined as “scams,” underlines the flip side of easy access to digital finance. Thus, while these new technologies promise to broaden financial inclusivity, their unregulated and anonymous nature can sometimes serve as hallways for less scrupulous activities.
In the realm of legal news, the spotlight turns to the former FTX CEO, Sam Bankman-Fried. Prep for his trial signifies the complexity of legal confrontations in the crypto industry, demonstrating once again that the law has a rather steep learning curve when it comes to understanding blockchain technology.
Elsewhere, the Dutch F1 Grand Prix incorporates NFT collectibles, promising to democratize access to the cryptoworld for 100,000 attendees. Yet, while these ticket-linked digital assets certainly foster mainstream acceptance of blockchain, it remains an open question how many will choose to delve deeper into the crypto abyss beyond mere collection of novelty items.
On a more optimistic note, the Web3 firm Push Protocol embarks on a ‘Billions Reasons to Build’ tour, reinforcing the optimism around Blockchain tech. Their collaboration with giants like the Ethereum Foundation, ETHGlobal, and others, demonstrates the necessary synergy between organizations in driving forward a decentralized digital future.
Lastly, the Luxembourg-based Bitstamp plans to pull the plug on its ethereum staking service in the USA next month. Proving once again that the uncertain regulatory landscape remains a thorn in the side of the crypto market, we’re nudged into realizing that global blockchain technology adoption is not such an uncomplicated procedure after all.
Source: Cryptonews
