Category: Technology

Korean game publisher, Neowiz, plans to enter the blockchain industry leveraging its Web3 arm, IntellaX. The move into blockchain is expected to further position Neowiz at a unique crossroad within the gaming industry while reshaping the future of gaming.

Ethereum co-founder, Vitalik Buterin, proposes the use of zero-knowledge proofs (ZK-proofs) for ensuring financial compliance and privacy in the blockchain world. This method can verify claim affirmations without divulging all transaction details, thus balancing anonymity and accountability. However, acceptance and successful execution within the blockchain community and regulatory bodies will determine the viability of this potential revolution in blockchain technology.

The P2P team is seeking a $1.5 million investment from staking provider Lido DAO to extend its services on blockchain network Solana. The funding will cover development costs and promotional activities, failing which, a ‘sunset process’ for Lido on Solana might need initiation. Funding would also foster innovation, expansion and contributions to the Solana ecosystem.

Brands like Nike and Adidas have begun integrating blockchain technology into loyalty programs. However, the majority of businesses are moving cautiously amidst fluctuating crypto markets and inflation concerns. Web3’s potential remains largely untapped due to slow consumer adoption, with its use still considered an “edge case” for most marketers.

“In the midst of a crypto winter, the blockchain industry is innovating and adapting. Major shifts like MakerDAO’s potential move from Ethereum to Solana or Cosmos depict this change. Discussions suggesting Ethereum should have a “Supreme Court” for disputes also indicate this evolution. Amid technological advances, the volatile crypto world is reminded: “Money doesn’t materialize out of thin air.””

“SBI Remit partners with SBI Ripple Asia to implement Ripple’s XRP-enabled international remittance solution, extending services to bank accounts in Vietnam, Indonesia, and the Philippines. Utilising XRP as a “bridge currency”, this move aims to streamline international payments, ensuring efficient and cost-effective money transfers.”

Vitalik Buterin and his co-authors introduced novel “privacy pools” in blockchain, addressing privacy issues and crime associated with privacy mixers. These pools utilize zero-knowledge technology to separate honest transactions from unlawful activities, encouraging transparency and honesty in this digitally decentralized environment. The future of blockchain looks promising yet challenging with regard to privacy and regulatory compliance.

“yPredict aims to blend artificial intelligence with financial acumen to address challenges in cryptocurrency trading. With offerings such as data-driven insights, token analysis, and predictive models due between 2023 and 2024, this platform promises to bring a more precise prediction model for asset price forecasting in the crypto market.”

“Google has updated its cryptocurrency ad policy to permit ads from cryptocurrency gaming companies promoting blockchain-based non-fungible token (NFT) games. The change, effective September 15th, excludes games promoting gambling or gambling services. While this shows a more inclusive approach, Google still maintains stringent rules to protect consumers from potential scams and maintain control over crypto-related advertisements.”

Socket, a pioneer of blockchain interaction, has raised $5 million from Coinbase Ventures and Framework Ventures, aiming to enable seamless interaction between Coinbase Wallet users and its new layer-2 network, Base. This move is sparked by the prevalent investor interest in interoperability solutions in blockchain technologies.

“Decentralized finance (DeFi) replaces traditional credit risk with ‘smart contract risk’, making consumer’s credit history irrelevant. DeFi platforms like AAVE base borrowing power on collateral value. Despite challenges, DeFi’s transparency and automation of intricate payoffs position it for substantial growth and adoption.”

“Layer 2” solutions like Arbitrum, Optimism, and Coinbase’s Base offer alternatives to the Ethereum network by bundling transactions. But their reliance on a centralized “sequencer” introduces potential bottlenecks and regulatory scrutiny. While there are calls for decentralizing, experts argue that it might compromise security. The future of blockchain depends on efficient decentralization strategies, robust security and fraud prevention.

“Japanese artist Takashi Murakami’s introduction into the cryptoverse with Non-Fungible Tokens (NFTs) was impacted by the 2022 crypto collapse. Despite this, his belief in digital art remains strong, evident in his exhibition at San Francisco’s Asian Art Museum.”

“Japanese SBI Group, in partnership with Ripple and SBI Ripple Asia, plans to extend Ripple remittance technology to South East Asia’s banks. SBI hopes this will boost service adoption, marking a significant milestone in the crypto space.”

Gleen, a California-based chatbot service, raised $4.9 million in funding, attracting investors from both traditional software and crypto sectors. The firm focuses on blockchain infrastructure channels on Discord, with a proprietary machine-learning layer combating the issue of ‘hallucination’ in artificial intelligence systems and providing accurate data storage and retrieval.

“OriginTrail aims to build a ‘trusted knowledge foundation’ via a Decentralized Knowledge Graph (DKG) to counter AI-induced distortions or supply chain fraud. Leveraging blockchain technology, this multi-chain protocol allows users to create ‘knowledge assets’ and extract value from them.”

Anatoly Aksakov, head of Russia’s State Duma financial committee, predicts a reduced role for traditional banks as the Central Bank Digital Currency (CBDC), the digital ruble, gains adoption. Aksakov urges banks to align their infrastructure with blockchain technology to leverage CBDC’s financial capabilities.

“Story Protocol is using blockchain technology to empower content creators and oversee their content, countering falsified AI-generated content. Meanwhile, Coinbase has launched an institutional-grade crypto lending platform, Coinbase Prime. These high-value projects symbolize the maturing crypto technology space.”

Football fantasy game Sorare has innovated the NFT realm by introducing 3D digital football player cards supported by augmented reality (AR). These cards blur physical and digital boundaries to enhance virtual reality. Despite complexity in design scalability, Sorare sees this as an opportunity for progress.

Russian legislator, Anatoly Aksakov, suggests the role of banks might diminish with advancements in blockchain technology, especially with the advent of the digital ruble. This technology presents a potential competitor to digital assets, raising concerns about financial stability. Aksakov believes this could render traditional banking obsolete, replacing human decision-making with automated actions.

Anoma Foundation is advancing with privacy-focused blockchains by creating a standalone blockchain for Namada protocol. Namada, founded by Awa Sun Yin, features zero-knowledge cryptography, facilitating private transactions across Ethereum or Cosmos networks. It can embed privacy features in any digital asset and decentralized apps without altering their original code.

Story Protocol, a startup using blockchain technology to track intellectual property (IP), has secured over $54 million in funding. The platform aims to democratize IP creation with a universally adaptable IP vault, streamlining the complex processes in maintaining IP, especially in the context of generative AI.

“dYdX is introducing decentralized order books to their platform and is shifting from the Ethereum network to the Cosmos network. CEO Charles d’Haussy proposes an innovative blend of decentralization and speed, hosting order books within the validators. This ambitious transition seeks to achieve a ‘purely decentralized’ order book exchange while ensuring high-speed crypto derivative responses.”

Alpha Protocol Ventures (APV), a group of crypto venture capitalists, have set up a $20 million fund for investing in promising blockchain gaming and digital collectibles sectors. The fund aims to uncover Web3 technologies’ potential and further expand the crypto ecosystem. It will also address issues like infrastructure, data protection, and supply chains, demonstrating the practical applications of blockchain beyond financial transactions.

MetaMask Snaps, a new plugin by Consensys, will allow different blockchain networks like Bitcoin and Solana to interact directly with the MetaMask wallet to facilitate transaction signing and smart contract understanding. However, concerns around user-friendliness, security checks, and notification inundation need to be addressed.

A beauty salon in Yekaterinburg, Russia, recently accepted its first digital ruble payment, pioneering the use of Russia’s Central Bank Digital Currency (CBDC) in the commercial sector. This case has sparked optimism that digital currency could offer unique payment solutions, even in areas with limited or no internet access.

“Co-founder of Framework Ventures, Vance Spencer, suggests that AI could bring true “autonomy” to DAOs and envisions AI models becoming valuable on-chain assets. While this potential convergence of AI and blockchain holds promise, it also raises concerns about maintaining human oversight and preventing further digital divide.”

“AI is revolutionising blockchain and cryptocurrency but its adoption in writing smart contracts could be risky. The inexperienced programmers using AI tools could generate more bugs than they identify. While AI aids in code analysis and reverse engineering, it shouldn’t be relied upon to write code, especially by novices. It’s a double-edged sword presenting potential and scalability, but posing significant security challenges.”

Mu Changchun, the head of a Chinese Central Bank, asserts that the digital yuan could revolutionize retail payments nationwide, potentially outshining cash. He urges banking and e-pay allies to optimize QR Code protocols and encourages merchants to embrace e-CNY as a viable payment mode.

“yPredict, a trading research and analysis platform, combines AI and financial expertise, offering data-centric tools for insightful investment choices. It runs on the Polygon Matic chain using YPRED tokens, which allow access to predictive models and participation in the platform’s decision-making process. Its diverse analytical tools go beyond price predictions.”

In its first significant mishap, Ethereum Layer 2 network, Base, experienced an outage halting new block production. Despite quick repair and recovery, concerns about the reliability of such newer networks have been raised. The future of blockchain may be promising, but these newer platforms must work on technical robustness and gaining users’ trust. Meanwhile, Genesis Global Trading announced the voluntary cessation of its spot trading services, reflecting the stiff competition and constant evolution in the crypto market.

A multidisciplinary team from the University of Oxford developed JAX-LOB, the first GPU-accelerated limit order book simulator. Using JAX, a high-performing machine learning system by Google, the simulator enables AI training directly on financial data, potentially revolutionizing the financial world.