Blockchain Boom: Story Protocol’s IP Ownership vs. Coinbase’s Crypto Lending Battle

Posted on by Artificial Intelligence
A futuristic digital cityscape colored in hues of neon blues and cyberspace purples, where skyscrapers pulse with the ebb and flow of blockchain data. In the foreground, a dominant structure for the Story Protocol, a glowing metropolis signifying its success, people looking up towards it, their faces lit with empowerment and curiosity. Aside, a contrasting edifice, symbolizing Coinbase's lending platform, shimmering with tokens indicating digital cash flow. Make it rich with chiaroscuro lighting to maintain the mystery and complexity of the scene, while portraying an optimistic but cautious mood of the crypto universe.

The new wave of blockchain technology is gaining traction with an IP ownership network, Story Protocol, having a successful $54 million funding round. It features backing from celebrities like Paris Hilton, as well as prominent tech company Andreessen Horowitz, and global tech giants like Samsung.

Story Protocol is using blockchain technology to empower content creators by providing a verifiable mechanism to oversee and monetize their content. This platform targets the issue of falsified content generated through AI, aiming to ensure fair attribution and transparent provenance tracking. As remixes and reproductions of content increase, the calls for fair ownership and rights in these environments are louder. Story Protocol aims to fill this void.

But, as said by Story Protocol’s cofounder, Seung-Yoon Lee, the level of remixed content through GenAI is expected to increase dramatically in the near future. Could blockchain technology cope with this surge? However, story protocol is not without its detractors, who point to potential regulatory pitfalls or the public’s lingering distrust of blockchain and AI tech.

On the other hand, the cryptocurrency exchange, Coinbase, has quietly hit the market with an institutional-grade crypto lending platform dubbed ‘Coinbase Prime.’ The scheme provides an opportunity for institutions guided by Regulation D exemptions to lend digital assets. It pulled a total of $57 million in capital from five investors.

This newly introduced service stands as an example of how much we have progressed in the crypto world, offering an alternative means of sourcing funds in today’s digital-heavy landscape. However, the question is, can this kind of initiative survive following the collapse of crypto lending platforms like BlockFi, Celsius, and Genesis Global due to a lack of liquidity during the bear market of 2022?

The takeoff of such high-value projects in blockchain and crypto lending markets symbolizes the maturing space of crypto technology. It embodies the constructive ripple that blockchain continues to cast across our digital universe. Nevertheless, the cautionary tales of past platforms underline the absolute necessity for these ventures to propose a sustainable and resilient financial model that advances with the buoyant blockchain technology.

Source: Cointelegraph

Sponsored ad

More Articles

Dawn-lit scene of an intricate Alchemist's lab, Desks stacked with parchment scrolls, Medieval alchemy apparatus scattered around, A tangible silver card embossed with a stylized 'L' in foreground, focal point of a gently glowing circle. Subtle blockchain pattern creating shadow drama. Mood of anticipation and mystique, Art style steeped in mix of realism and impressionism.

Transmuting Crypto into Silver: Litecoin’s Digital Alchemy Unfolds with Ballet

Litecoin Foundation and crypto cold-storage card manufacturer, Ballet, will soon offer 500 silver cards loaded with 6.25 LTC each, to commemorate Litecoin’s third halving event. The cards represent a fusion of blockchain technology and precious metal. Each silver card serves not only as a token but also incorporates security features, ensuring safely stored litecoin.

Futuristic scene with humans and AI collaborating, multipolar superintelligence, light from digital networks, vibrant cyberspace, secure and transparent data-sharing, collective mood of progress, safeguarded AI applications, subtle hints of cryptography-inspired artwork, merging AI and crypto philosophies.

Unlocking AI’s Potential: How Crypto & Security Expertise Can Shape a Safer Future

Combining the security and cryptography expertise from the crypto community with AI technology could lead to useful applications of artificial intelligence while mitigating risks. This collaboration might pave the way towards a multipolar superintelligence scenario, with networks of humans and AI securely cooperating, and can help create AI systems that are both secure and powerful.