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Blochchain Technology 👉
Blockchain technology is a decentralized and distributed ledger system that records transactions across a network of computers in a secure and transparent manner. It consists of a chain of blocks, where each block contains a list of transactions. These blocks are linked together using cryptographic hashes, forming a chronological and unchangeable chain.Key features of blockchain technology include:Decentralization: No single entity has control over the entire blockchain, making it resistant to censorship and tampering.Transparency: The entire transaction history is visible to all participants in the network, enhancing transparency and trust.Immutability: Once a block is added to the chain, it is nearly impossible to alter previous blocks, ensuring the integrity of the entire transaction history.Security: Cryptographic techniques secure transactions, making it challenging for malicious actors to manipulate the data.Blockchain is the underlying technology for cryptocurrencies, but its applications extend beyond finance. It's being explored for various uses such as supply chain management, smart contracts, and decentralized applications (DApps).#blockchain #Web3CreativeHub #TechnicalStudy
Blockchain technology is a decentralized and distributed ledger system that records transactions across a network of computers in a secure and transparent manner. It consists of a chain of blocks, where each block contains a list of transactions. These blocks are linked together using cryptographic hashes, forming a chronological and unchangeable chain.Key features of blockchain technology include:Decentralization: No single entity has control over the entire blockchain, making it resistant to censorship and tampering.Transparency: The entire transaction history is visible to all participants in the network, enhancing transparency and trust.Immutability: Once a block is added to the chain, it is nearly impossible to alter previous blocks, ensuring the integrity of the entire transaction history.Security: Cryptographic techniques secure transactions, making it challenging for malicious actors to manipulate the data.Blockchain is the underlying technology for cryptocurrencies, but its applications extend beyond finance. It's being explored for various uses such as supply chain management, smart contracts, and decentralized applications (DApps).#blockchain #Web3CreativeHub #TechnicalStudy
🌎 World On Chain ⛓️
🌟 BREAKING: Hong Kong Ventures into Financial Revolution through Spot Crypto ETFs!
Hong Kong's financial landscape is poised for a monumental stride, gearing up to launch spot cryptocurrency Exchange-Traded Funds (ETFs). Collaborating seamlessly, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority are now inviting applications to materialize this groundbreaking innovation. This daring leap distinguishes Hong Kong from China's stringent stance on cryptocurrencies, with the SFC paving the way with transparent guidelines for investing in digital assets, spotlighting licensed platforms.
As an integral part of its ambitious vision to establish itself as the ultimate haven for cryptocurrencies, Hong Kong unveils plans for a retail crypto trading licensing framework, cementing its position as a trailblazing hub welcoming the world of crypto enthusiasts.
#BTC #Bitcoin #Crypto #blockchain
🌟 BREAKING: Hong Kong Ventures into Financial Revolution through Spot Crypto ETFs!
Hong Kong's financial landscape is poised for a monumental stride, gearing up to launch spot cryptocurrency Exchange-Traded Funds (ETFs). Collaborating seamlessly, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority are now inviting applications to materialize this groundbreaking innovation. This daring leap distinguishes Hong Kong from China's stringent stance on cryptocurrencies, with the SFC paving the way with transparent guidelines for investing in digital assets, spotlighting licensed platforms.
As an integral part of its ambitious vision to establish itself as the ultimate haven for cryptocurrencies, Hong Kong unveils plans for a retail crypto trading licensing framework, cementing its position as a trailblazing hub welcoming the world of crypto enthusiasts.
#BTC #Bitcoin #Crypto #blockchain
Democracy Goes Digital: Can Blockchain Secure the Vote in 2024's Super Election Year?
With over 64 countries, including giants like India and the US, holding elections in 2024, the world is preparing for a democratic super year. Amidst rising concerns over election integrity, a new whisper emerges: can blockchain revolutionize the way we vote?
Blockchain, the technology behind cryptocurrencies, offers a secure and transparent voting system. Votes cast are recorded on a tamper-proof ledger, reducing fraud and boosting trust. Pilot programs have shown promise, but challenges like scalability and digital inclusivity remain.
Despite hurdles, the urgency is clear. 2024 could be a turning point for digital democracy. With careful implementation and public education, blockchain may just become the missing piece in rebuilding trust and securing our votes. The future of democracy might just be a click away.
This Blog retains the crucial elements: the scale of 2024 elections, the potential of blockchain for secure voting, and the need for careful implementation.
#crypto2024 #blockchain
With over 64 countries, including giants like India and the US, holding elections in 2024, the world is preparing for a democratic super year. Amidst rising concerns over election integrity, a new whisper emerges: can blockchain revolutionize the way we vote?
Blockchain, the technology behind cryptocurrencies, offers a secure and transparent voting system. Votes cast are recorded on a tamper-proof ledger, reducing fraud and boosting trust. Pilot programs have shown promise, but challenges like scalability and digital inclusivity remain.
Despite hurdles, the urgency is clear. 2024 could be a turning point for digital democracy. With careful implementation and public education, blockchain may just become the missing piece in rebuilding trust and securing our votes. The future of democracy might just be a click away.
This Blog retains the crucial elements: the scale of 2024 elections, the potential of blockchain for secure voting, and the need for careful implementation.
#crypto2024 #blockchain
A Primer on Layer 2 Scaling Solutions
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Layer 1: Overview of Blockchain Diversity
There are over 1,000 active blockchains, each with unique strengths and weaknesses.
Ethereum and Solana are highlighted as Layer 1 blockchains with distinct features.
Layer 2: Introduction to Layer 2 Protocols
Layer 2 protocols aim to enhance decentralized networks' efficiency without compromising security or decentralization.
Examples of Layer 2 tokens like MATIC, IMX, ARB, OP, and LRC are mentioned.
Layer 3: Types of Layer 2 Scaling Solutions
Layer 2 encompasses various solutions such as sidechains (e.g., Polygon), parachains (e.g., Polkadot), ZK-rollups (e.g., Matter Labs, Starkware), and optimistic rollups (e.g., Arbitrum, Optimism).
Layer 4: Significance of Layer 2 Solutions
Layer 2 inherits security from the underlying main chain, offering higher transaction speeds and lower fees.
Specific applications can be optimized through Layer 2 solutions, improving user experiences.
Layer 5: Considerations and Other Layer 2s
Potential drawbacks include liquidity shifts and inheriting vulnerabilities from Layer 1 networks.
The article briefly mentions the Bitcoin Lightning Network as a Layer 2 solution for Bitcoin.
#sol #blockchain #Ethereum #newsTrading
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.
.
Layer 1: Overview of Blockchain Diversity
There are over 1,000 active blockchains, each with unique strengths and weaknesses.
Ethereum and Solana are highlighted as Layer 1 blockchains with distinct features.
Layer 2: Introduction to Layer 2 Protocols
Layer 2 protocols aim to enhance decentralized networks' efficiency without compromising security or decentralization.
Examples of Layer 2 tokens like MATIC, IMX, ARB, OP, and LRC are mentioned.
Layer 3: Types of Layer 2 Scaling Solutions
Layer 2 encompasses various solutions such as sidechains (e.g., Polygon), parachains (e.g., Polkadot), ZK-rollups (e.g., Matter Labs, Starkware), and optimistic rollups (e.g., Arbitrum, Optimism).
Layer 4: Significance of Layer 2 Solutions
Layer 2 inherits security from the underlying main chain, offering higher transaction speeds and lower fees.
Specific applications can be optimized through Layer 2 solutions, improving user experiences.
Layer 5: Considerations and Other Layer 2s
Potential drawbacks include liquidity shifts and inheriting vulnerabilities from Layer 1 networks.
The article briefly mentions the Bitcoin Lightning Network as a Layer 2 solution for Bitcoin.
#sol #blockchain #Ethereum #newsTrading
🏛️ The Bank of Spain (BDE) has chosen partner companies, including Cecabank, Abanca, and Adhara Blockchain, to conduct a pilot test of CBDC (central bank issued digital currency). The wholesale CBDC pilot aims to explore interbank payment processing and is set to be completed within six months. 💱📊 #CBDC #blockchain
Epic Games Store has changed its policy on blockchain games. This comes after some blockchain games with ‘Adults Only’ ratings were taken off the store for using Blockchain and NFTs.
#nft #blockchain #EpicGames
#nft #blockchain #EpicGames
Metagood, a blockchain technology and digital assets company, announced the successful completion of a $5 million series seed funding round.
#metagod #blockchain #BinanceTournament
#metagod #blockchain #BinanceTournament
Breaking Boundaries: Orbit Chain's Pioneering Partnership with South Korean Authorities! 🌐🤝
In a groundbreaking alliance set to redefine investigative protocols, Orbit Chain has joined forces with the South Korean National Police Agency and the Korea Internet and Security Agency (KISA). Here's the buzz:
🔹 Strategic Collaboration: Orbit Chain isn't just about technology; it's about fostering safer communities. By teaming up with key South Korean agencies, they're pioneering a state-of-the-art investigation support and cause analysis system.
🔹 Elevating Investigations: Imagine a world where investigations are not just reactive but proactive and comprehensive. That's the vision! This innovative system aims to revolutionize investigative methodologies, empowering authorities to stay ahead of the curve.
🔹 Global Outreach: But Orbit Chain's vision doesn't stop at South Korea's borders. With discussions underway for collaboration with both domestic and international law enforcement agencies, they're setting the stage for a global network of security and cooperation.
🔹 A Safer Tomorrow: At its core, this partnership signifies more than technology—it's a commitment to safety, security, and trust. By bridging the gap between technology and law enforcement, Orbit Chain is paving the way for a safer tomorrow.
In the dynamic world of blockchain and security, partnerships like these underscore the transformative potential of collaboration. Orbit Chain is not just making headlines; they're shaping the future of security. Stay tuned as this pioneering journey unfolds! #BTC #blockchain 🌌🔗🚔
In a groundbreaking alliance set to redefine investigative protocols, Orbit Chain has joined forces with the South Korean National Police Agency and the Korea Internet and Security Agency (KISA). Here's the buzz:
🔹 Strategic Collaboration: Orbit Chain isn't just about technology; it's about fostering safer communities. By teaming up with key South Korean agencies, they're pioneering a state-of-the-art investigation support and cause analysis system.
🔹 Elevating Investigations: Imagine a world where investigations are not just reactive but proactive and comprehensive. That's the vision! This innovative system aims to revolutionize investigative methodologies, empowering authorities to stay ahead of the curve.
🔹 Global Outreach: But Orbit Chain's vision doesn't stop at South Korea's borders. With discussions underway for collaboration with both domestic and international law enforcement agencies, they're setting the stage for a global network of security and cooperation.
🔹 A Safer Tomorrow: At its core, this partnership signifies more than technology—it's a commitment to safety, security, and trust. By bridging the gap between technology and law enforcement, Orbit Chain is paving the way for a safer tomorrow.
In the dynamic world of blockchain and security, partnerships like these underscore the transformative potential of collaboration. Orbit Chain is not just making headlines; they're shaping the future of security. Stay tuned as this pioneering journey unfolds! #BTC #blockchain 🌌🔗🚔
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🕵️♂️ Blockchain Detective: Unraveling the Mystery of Lost Altcoins 🕵️♂️
Hey guys!
Has anyone lost some #altcoins ? Don't worry, Detective #blockchain is on the case! I'm going to follow the clues in the ledger and find where these coins ended up.
Spoiler: they are probably hidden in a forgotten wallet, along with those unread emails. 🕵️♂️💼
Hey guys!
Has anyone lost some #altcoins ? Don't worry, Detective #blockchain is on the case! I'm going to follow the clues in the ledger and find where these coins ended up.
Spoiler: they are probably hidden in a forgotten wallet, along with those unread emails. 🕵️♂️💼
👉👉👉 #grayscale ’s 4,000 Bitcoin Transfer Worth $175M Stirs Market Speculation Amid Record ETF Trading Volume
Recent #blockchain analytics revealed that 4,000 bitcoins, valued at approximately $175 million, were transferred from addresses linked to Grayscale’s Bitcoin Trust (GBTC) in four batches of 1,000 bitcoins each, directed to Coinbase. This occurred amid the debut of a new spot bitcoin exchange-traded fund (ETF), which generated $4.6 billion in trading volume on its first day, causing a 5.5% decline in bitcoin's value. Grayscale’s reserves decreased by 4,000 BTC, equivalent to $175 million. While specific addresses are unconfirmed, Arkham Intelligence had previously identified Grayscale’s wallets in September 2023, indicating dispersed bitcoin assets across over 1,750 addresses. Arkham's tracking shows Grayscale manages 621,853 BTC and 2.9 million ETH, differing from Grayscale’s official website reporting 619,162 BTC as of Jan. 12, 2024. Arkham’s records reveal the last movement of funds from Grayscale’s wallets to Coinbase occurred two weeks ago. Whether these funds are sold or reassigned by Coinbase for custody remains uncertain, with speculations on social media lacking concrete evidence. Data shows over $3 billion traded across all spot bitcoin ETFs on Friday, with GBTC, Blackrock’s IBIT, and Bitwise’s BITB leading. Bloomberg ETF analyst James Seyffart noted total net inflows amounted to $655 million in an update on social media.
Source - news.bitcoin.com
#CryptoNews #gbtc #BinanceSquare
Recent #blockchain analytics revealed that 4,000 bitcoins, valued at approximately $175 million, were transferred from addresses linked to Grayscale’s Bitcoin Trust (GBTC) in four batches of 1,000 bitcoins each, directed to Coinbase. This occurred amid the debut of a new spot bitcoin exchange-traded fund (ETF), which generated $4.6 billion in trading volume on its first day, causing a 5.5% decline in bitcoin's value. Grayscale’s reserves decreased by 4,000 BTC, equivalent to $175 million. While specific addresses are unconfirmed, Arkham Intelligence had previously identified Grayscale’s wallets in September 2023, indicating dispersed bitcoin assets across over 1,750 addresses. Arkham's tracking shows Grayscale manages 621,853 BTC and 2.9 million ETH, differing from Grayscale’s official website reporting 619,162 BTC as of Jan. 12, 2024. Arkham’s records reveal the last movement of funds from Grayscale’s wallets to Coinbase occurred two weeks ago. Whether these funds are sold or reassigned by Coinbase for custody remains uncertain, with speculations on social media lacking concrete evidence. Data shows over $3 billion traded across all spot bitcoin ETFs on Friday, with GBTC, Blackrock’s IBIT, and Bitwise’s BITB leading. Bloomberg ETF analyst James Seyffart noted total net inflows amounted to $655 million in an update on social media.
Source - news.bitcoin.com
#CryptoNews #gbtc #BinanceSquare
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🌟 Exclusive Offer: Use code #CryptoBoom for a chance to win $BTC, $ETH, and more!
Click Here To GRab Free USDT
Hurry! Grab your digital treasure chest before the offer vanishes! 💰🔐 #UltimateCryptoReward
🌬️ Embrace the Winter Bliss! ❄️🎉
Ready to Heat Up Your Wallet? 🔥💰
🎁 Claim Your Free Reward of up to $50! 🤑💵
Celebrate Winter with Your Crypto Gift! 🎁❄️
Don't forget to Like & Follow for more exciting offers!
Feeling generous? Tips are welcome! 😉
#blockchain #CryptoGifts #XRP #ADA #BTC
🌟 Exclusive Offer: Use code #CryptoBoom for a chance to win $BTC, $ETH, and more!
Click Here To GRab Free USDT
Hurry! Grab your digital treasure chest before the offer vanishes! 💰🔐 #UltimateCryptoReward
🌬️ Embrace the Winter Bliss! ❄️🎉
Ready to Heat Up Your Wallet? 🔥💰
🎁 Claim Your Free Reward of up to $50! 🤑💵
Celebrate Winter with Your Crypto Gift! 🎁❄️
Don't forget to Like & Follow for more exciting offers!
Feeling generous? Tips are welcome! 😉
#blockchain #CryptoGifts #XRP #ADA #BTC
Kevin Shao, ABGA Executive President, ICC Advisor, Web3Labs Partner, and Bitrise Capital Founder: Blockchain Gaming Will Gain Mass Adoption
At the "Hong Kong Web3.0 Entrepreneurs Conference," organized by Web3Labs, ABGA, Satoshi Lab, ICC Camp, and AIFocus, and co-hosted by Techub News, iPollo, and MetaEra, Kevin Shao, the Executive President of ABGA, ICC Advisor, Web3Labs Partner, and founder of Bitrise Capital, stated that the current state of blockchain technology and public chain infrastructure are more advanced compared to the past. Coupled with the fervor surrounding the concept of full chain games and the active participation of major players from the traditional gaming industry, Kevin Shao expressed the belief that #blockchain games are poised for widespread adoption. Looking ahead, he believes that blockchain technology will integrate into the entire gaming industry, naturally delivering true ownership of virtual assets to individuals.
At the "Hong Kong Web3.0 Entrepreneurs Conference," organized by Web3Labs, ABGA, Satoshi Lab, ICC Camp, and AIFocus, and co-hosted by Techub News, iPollo, and MetaEra, Kevin Shao, the Executive President of ABGA, ICC Advisor, Web3Labs Partner, and founder of Bitrise Capital, stated that the current state of blockchain technology and public chain infrastructure are more advanced compared to the past. Coupled with the fervor surrounding the concept of full chain games and the active participation of major players from the traditional gaming industry, Kevin Shao expressed the belief that #blockchain games are poised for widespread adoption. Looking ahead, he believes that blockchain technology will integrate into the entire gaming industry, naturally delivering true ownership of virtual assets to individuals.
#DoYouKnow
What is #blockchain ?
It is decentralized and distributed digital ledger technology that is used to store information/data/transaction across multiple computers simultaneously to ensure transparency, security, and immutability. These transactions are grouped in blocks and are linked together using cryptography principles, creating a chain, hence named as BlockChain.
#SupportQualityContent
#learning
What is #blockchain ?
It is decentralized and distributed digital ledger technology that is used to store information/data/transaction across multiple computers simultaneously to ensure transparency, security, and immutability. These transactions are grouped in blocks and are linked together using cryptography principles, creating a chain, hence named as BlockChain.
#SupportQualityContent
#learning
Bitcoin tops 47,000 Dollar, Surges on Bitcoin ETF Approval Hopes
Price of Bitcoin Surged Amid Hopes for Approval of Spot Bitcoin ETF
In the past 24 hours, the cryptocurrency market has once again witnessed a surge, notably propelled by Bitcoin playing a pivotal role. At the time of reporting, Bitcoin was trading at $46,827. During this period, Bitcoin managed to reach $47,355, surpassing the $47,000 mark, marking a 21-month high. Earlier, on March 1, Bitcoin successfully surpassed the $48,000 level. The recent upward momentum in Bitcoin’s prices is being observed due to the anticipation surrounding the potential approval of the spot Bitcoin ETF.
The Securities and Exchange Commission (SEC) is set to make a decision on the applications for the Ark/21Shares spot Bitcoin ETF on January 10. The SEC’s decision to approve or reject the Ark/21Shares spot Bitcoin ETF is crucial. Consequently, a positive atmosphere prevails in the crypto market, prompting a surge in the prices of all crypto tokens. However, there were prior speculations that the SEC might delay the approval of the spot Bitcoin ETF until April 2024, leading Bitcoin to drop below $41,000.
WisdomTree and VanEck’s ETF tickers launched in DTCC
One contributing factor behind Bitcoin’s successful climb to $47,355 is the launch of WisdomTree and VanEck’s ETF tickers in the Depository Trust & Clearing Corporation (DTCC). Indeed, on January 8, the ETF tickers for WisdomTree and VanEck were launched at DTCC, fostering a positive sentiment in the cryptocurrency market.
This atmosphere has ignited enthusiasm among investors to purchase Bitcoin, thus contributing to the observed surge in Bitcoin prices. Experts in the cryptosphere believe that this momentum might persist in the coming times.
Furthermore, some experts are optimistic, foreseeing that after the approval of the spot Bitcoin ETF, Bitcoin could surpass the $100,000 milestone. This optimistic outlook is attributed to the potential influx of institutional funds and heightened market interest that a Bitcoin ETF approval could trigger.
Impact of Regulatory Shifts and ETF Developments on Crypto Realm
The fluctuations and speculations surrounding Bitcoin’s price movements continue to captivate both investors and enthusiasts in the cryptocurrency realm. The market remains poised, awaiting the SEC’s decision regarding the spot Bitcoin ETF, a potential game-changer for the trajectory of Bitcoin and the broader crypto market.
The recent developments in the ETF landscape and regulatory decisions demonstrate the significant impact of traditional financial mechanisms on the dynamic world of cryptocurrencies. The evolution of Bitcoin’s narrative from a speculative asset to a potential institutional investment vehicle continues to shape the crypto landscape, introducing new paradigms and opportunities for market participants.
#BitcoinETF💰💰💰 #cryptocurency #blockchain #cryptonewstoday
In the past 24 hours, the cryptocurrency market has once again witnessed a surge, notably propelled by Bitcoin playing a pivotal role. At the time of reporting, Bitcoin was trading at $46,827. During this period, Bitcoin managed to reach $47,355, surpassing the $47,000 mark, marking a 21-month high. Earlier, on March 1, Bitcoin successfully surpassed the $48,000 level. The recent upward momentum in Bitcoin’s prices is being observed due to the anticipation surrounding the potential approval of the spot Bitcoin ETF.
The Securities and Exchange Commission (SEC) is set to make a decision on the applications for the Ark/21Shares spot Bitcoin ETF on January 10. The SEC’s decision to approve or reject the Ark/21Shares spot Bitcoin ETF is crucial. Consequently, a positive atmosphere prevails in the crypto market, prompting a surge in the prices of all crypto tokens. However, there were prior speculations that the SEC might delay the approval of the spot Bitcoin ETF until April 2024, leading Bitcoin to drop below $41,000.
WisdomTree and VanEck’s ETF tickers launched in DTCC
One contributing factor behind Bitcoin’s successful climb to $47,355 is the launch of WisdomTree and VanEck’s ETF tickers in the Depository Trust & Clearing Corporation (DTCC). Indeed, on January 8, the ETF tickers for WisdomTree and VanEck were launched at DTCC, fostering a positive sentiment in the cryptocurrency market.
This atmosphere has ignited enthusiasm among investors to purchase Bitcoin, thus contributing to the observed surge in Bitcoin prices. Experts in the cryptosphere believe that this momentum might persist in the coming times.
Furthermore, some experts are optimistic, foreseeing that after the approval of the spot Bitcoin ETF, Bitcoin could surpass the $100,000 milestone. This optimistic outlook is attributed to the potential influx of institutional funds and heightened market interest that a Bitcoin ETF approval could trigger.
Impact of Regulatory Shifts and ETF Developments on Crypto Realm
The fluctuations and speculations surrounding Bitcoin’s price movements continue to captivate both investors and enthusiasts in the cryptocurrency realm. The market remains poised, awaiting the SEC’s decision regarding the spot Bitcoin ETF, a potential game-changer for the trajectory of Bitcoin and the broader crypto market.
The recent developments in the ETF landscape and regulatory decisions demonstrate the significant impact of traditional financial mechanisms on the dynamic world of cryptocurrencies. The evolution of Bitcoin’s narrative from a speculative asset to a potential institutional investment vehicle continues to shape the crypto landscape, introducing new paradigms and opportunities for market participants.
#BitcoinETF💰💰💰 #cryptocurency #blockchain #cryptonewstoday
🚀🚀🚀 Indonesia’s central bank eye #CBDC trial for 2024
Bank Indonesia (BI) has officially announced its intention to delve into central bank digital currency (CBDC) exploration in 2024, initiating full-scale trials in collaboration with major commercial banks.
According to Business Times, BI's CBDC initiative will concentrate on wholesale interbank settlement, leveraging #blockchain technology. The proposed CBDC, the digital rupiah, underwent preliminary studies and completed a proof-of-concept in 2022.
The upcoming pilot program will involve BI examining technological and regulatory frameworks to facilitate the rollout of the digital rupiah.
BI Governor Perry Warjiyo stated, "We have issued the proof-of-concept for the digital currency, and we expect to design the technology and infrastructure we will be using in the near future."
This pilot project builds on insights gathered from a public consultation with industry stakeholders. The results led to the decision to focus on a wholesale CBDC offering, ensuring the "rupiah's sovereignty in the digital era."
BI has enlisted the support of commercial banks and technical partners for its CBDC pilot. In addition to local interbank payments, the central bank plans to experiment with cross-border settlements, #Tokenization , and use cases in foreign exchange transactions and the metaverse.
The central bank aims for interoperability with CBDCs from other jurisdictions, suggesting a phased rollout. The initial phase will involve launching a digital rupiah for monetary operations and the money market before considering a retail CBDC.
Bank Indonesia's (BI) CBDC initiative coincides with heightened scrutiny on digital currencies. Indonesia is considering classifying them as securities and implementing stricter exchange regulations. A Ministry of Trade resolution mandates two-thirds of digital exchange directors to be in Indonesia, and there's exploration of a national digital currency exchange for industry uniformity.
Source - coingeek.com
#CryptoNews🔒📰🚫 #BinanceSquare
Bank Indonesia (BI) has officially announced its intention to delve into central bank digital currency (CBDC) exploration in 2024, initiating full-scale trials in collaboration with major commercial banks.
According to Business Times, BI's CBDC initiative will concentrate on wholesale interbank settlement, leveraging #blockchain technology. The proposed CBDC, the digital rupiah, underwent preliminary studies and completed a proof-of-concept in 2022.
The upcoming pilot program will involve BI examining technological and regulatory frameworks to facilitate the rollout of the digital rupiah.
BI Governor Perry Warjiyo stated, "We have issued the proof-of-concept for the digital currency, and we expect to design the technology and infrastructure we will be using in the near future."
This pilot project builds on insights gathered from a public consultation with industry stakeholders. The results led to the decision to focus on a wholesale CBDC offering, ensuring the "rupiah's sovereignty in the digital era."
BI has enlisted the support of commercial banks and technical partners for its CBDC pilot. In addition to local interbank payments, the central bank plans to experiment with cross-border settlements, #Tokenization , and use cases in foreign exchange transactions and the metaverse.
The central bank aims for interoperability with CBDCs from other jurisdictions, suggesting a phased rollout. The initial phase will involve launching a digital rupiah for monetary operations and the money market before considering a retail CBDC.
Bank Indonesia's (BI) CBDC initiative coincides with heightened scrutiny on digital currencies. Indonesia is considering classifying them as securities and implementing stricter exchange regulations. A Ministry of Trade resolution mandates two-thirds of digital exchange directors to be in Indonesia, and there's exploration of a national digital currency exchange for industry uniformity.
Source - coingeek.com
#CryptoNews🔒📰🚫 #BinanceSquare
President Recep Tayyip Erdoğan of Turkey recently appointed Professor Fatma Ozkul, an expert in #crypto assets and #blockchain technology, to the central bank's rate-setting committee. This nomination, announced on December 22, adds Ozkul, who has been teaching at Istanbul’s Marmara University since 2012, specializing in accounting, finance, and auditing with a focus on blockchain technology and digital assets. She authored a book on crypto asset accounting in 2022.
Ozkul's appointment comes amidst the Monetary Policy Committee's responsibility to control inflation by setting the benchmark interest rate, which was increased to 42.5% on December 21 due to Turkey's inflation rate surpassing 61.98% in November.
Erdoğan has made other significant appointments, including Hafize Gaye Erkan, a former Goldman Sachs banker, as the central bank governor. In 2022, the central bank successfully conducted initial tests of the Digital Turkish Lira.
Turkey has experienced a surge in crypto adoption, ranking fourth globally in raw crypto transaction volumes, recording around $170 billion between July 2022 and June 2023, trailing only the US, India, and the UK. This increased interest in crypto investments is attributed to Turkey's inflation woes.
A survey revealed that over half of Turkish adults are now involved in the crypto market, marking a 12% rise in investors over 18 months. There's also a diversification in crypto investors' demographics, with growing female participation, especially among younger age groups. Nearly half of crypto investors aged 18 to 30 are female.
The Turkish government is considering regulatory measures for the crypto market, focusing on licensing and taxation to comply with #FATF regulations and remove Turkey from the "grey list."
Ozkul's appointment comes amidst the Monetary Policy Committee's responsibility to control inflation by setting the benchmark interest rate, which was increased to 42.5% on December 21 due to Turkey's inflation rate surpassing 61.98% in November.
Erdoğan has made other significant appointments, including Hafize Gaye Erkan, a former Goldman Sachs banker, as the central bank governor. In 2022, the central bank successfully conducted initial tests of the Digital Turkish Lira.
Turkey has experienced a surge in crypto adoption, ranking fourth globally in raw crypto transaction volumes, recording around $170 billion between July 2022 and June 2023, trailing only the US, India, and the UK. This increased interest in crypto investments is attributed to Turkey's inflation woes.
A survey revealed that over half of Turkish adults are now involved in the crypto market, marking a 12% rise in investors over 18 months. There's also a diversification in crypto investors' demographics, with growing female participation, especially among younger age groups. Nearly half of crypto investors aged 18 to 30 are female.
The Turkish government is considering regulatory measures for the crypto market, focusing on licensing and taxation to comply with #FATF regulations and remove Turkey from the "grey list."
$ETH "Ethereum's innovative upgrades continue to shape the future of decentralized finance. Stay informed on ETH developments and join the blockchain revolution. #Ethereum2024 #blockchain "
#TradeNTell
$BTC $BNB
#TradeNTell
$BTC $BNB
Scammers have used the " #MSDrainer " service to steal approximately $59 million in #crypto from victims over nine months, as per a report by #blockchain security firm #ScamSniffer. The scam operated via #GoogleAds , mimicking popular crypto platforms like Zapper, Lido, Stargate, DefiLlama, Orbiter Finance, and Radient.
The "MS Drainer" is a specialized tool functioning as a blockchain-based smart contract, allowing scammers to drain crypto from victim wallets without authorization. It charges a fee on the stolen amount, sharing it with developers.
Initially identified in March, the scam employed regional targeting and page-switching tactics to evade Google's ad audits, posting counterfeit ads to carry out phishing attacks. Scammers used web redirects, misleading users into accessing fake websites resembling official platforms.
Scam Sniffer uncovered 10,072 fake sites using "MS Drainer," peaking in November before a decline. Over 63,000 victims fell prey to the scheme, losing nearly $59 million in crypto.
The "MS Drainer" developer sold this tool for a flat fee of $1,499.99 on forums, offering additional "modules" at different prices.
The "MS Drainer" is a specialized tool functioning as a blockchain-based smart contract, allowing scammers to drain crypto from victim wallets without authorization. It charges a fee on the stolen amount, sharing it with developers.
Initially identified in March, the scam employed regional targeting and page-switching tactics to evade Google's ad audits, posting counterfeit ads to carry out phishing attacks. Scammers used web redirects, misleading users into accessing fake websites resembling official platforms.
Scam Sniffer uncovered 10,072 fake sites using "MS Drainer," peaking in November before a decline. Over 63,000 victims fell prey to the scheme, losing nearly $59 million in crypto.
The "MS Drainer" developer sold this tool for a flat fee of $1,499.99 on forums, offering additional "modules" at different prices.
👉👉👉 Central banks are adopting #AI despite inherent risks
A recent study by the Bank for International Settlements (BIS) has delved into the use of artificial intelligence (AI) tools by central banks, cautioning regulators about the inherent risks associated with this emerging technology.
The nine-page report, titled "Artificial intelligence in central banking," focuses on the application and potential risks of large language models (LLMs) by global central banks. Describing central banks as early adopters, the report discusses their reliance on AI models for information collection, leveraging machine learning techniques for tasks such as data sampling, cleaning, and matching information to existing sources.
Central banks are increasingly turning to AI-backed financial analysis to inform decisions on monetary policy. Neural networks and random forest models are utilized to access real-time data for inflation expectations and gather feedback on the effectiveness of monetary policy through the analysis of social media posts.
The use cases also extend to regulatory functions, with AI systems overseeing and supervising payment systems. These systems have proven effective in identifying irregular financial transactions, addressing concerns related to money laundering and cyberattacks.
The report highlights specific examples, such as the Central Bank of Brazil's deployment of ADAM, a classification model predicting borrowers likely to default on loans. Other regulators use AI systems to anticipate consumer behaviors in response to the introduction of a central bank digital currency (#CBDC ).
The report emphasizes AI's inherent risks, such as biased outputs from training data and challenges like hallucination. Short-term solutions involve central banks training staff in AI, but competition for skilled personnel with private firms is expected. To address challenges, the report recommends integrating an enterprise #blockchain system to ensure data quality, ownership, and immutability.
Source - coingeek.com
#CryptoNews #BinanceSquare
A recent study by the Bank for International Settlements (BIS) has delved into the use of artificial intelligence (AI) tools by central banks, cautioning regulators about the inherent risks associated with this emerging technology.
The nine-page report, titled "Artificial intelligence in central banking," focuses on the application and potential risks of large language models (LLMs) by global central banks. Describing central banks as early adopters, the report discusses their reliance on AI models for information collection, leveraging machine learning techniques for tasks such as data sampling, cleaning, and matching information to existing sources.
Central banks are increasingly turning to AI-backed financial analysis to inform decisions on monetary policy. Neural networks and random forest models are utilized to access real-time data for inflation expectations and gather feedback on the effectiveness of monetary policy through the analysis of social media posts.
The use cases also extend to regulatory functions, with AI systems overseeing and supervising payment systems. These systems have proven effective in identifying irregular financial transactions, addressing concerns related to money laundering and cyberattacks.
The report highlights specific examples, such as the Central Bank of Brazil's deployment of ADAM, a classification model predicting borrowers likely to default on loans. Other regulators use AI systems to anticipate consumer behaviors in response to the introduction of a central bank digital currency (#CBDC ).
The report emphasizes AI's inherent risks, such as biased outputs from training data and challenges like hallucination. Short-term solutions involve central banks training staff in AI, but competition for skilled personnel with private firms is expected. To address challenges, the report recommends integrating an enterprise #blockchain system to ensure data quality, ownership, and immutability.
Source - coingeek.com
#CryptoNews #BinanceSquare
👉👉👉 #solana : Rocket Fuel or Hype Machine? Unveiling the Potential & Pitfalls of the #blockchain Star
Solana, a strong contender in blockchain, challenges Ethereum with remarkable speed & low fees.
1. Pros:
- Unmatched Scalability: Solana's PoH, Sealevel, & Turbine enable 50,000 TPS, surpassing Ethereum's 15 TPS, fostering mass adoption without compromising speed.
- Low Transaction Fees: Solana boasts exceptionally low fees, incentivizing users & developers compared to Ethereum's fluctuating gas fees.
- Developer-Friendly: Solana offers a developer-friendly environment with a familiar Rust-based language, tools, resources, grants, & hackathons, nurturing a thriving community.
- Thriving NFT Ecosystem: Solana is a hub for #NFTs with high speed & low fees, hosting popular marketplaces like Solanart & Magic Eden.
- Sustainable: Solana's hybrid consensus reduces energy consumption, aligning with growing environmental concerns.
2. Cons:
- Centralization Concerns: Despite claims of decentralization, Solana's architecture raises concerns with validators chosen by the foundation & its governance model.
- Network Outages: Despite high throughput, Solana has faced network outages, raising stability concerns for large-scale adoption.
- Evolving Smart Contract Ecosystem: Solana's ecosystem, while rapidly evolving, differs from Ethereum, potentially seen as less mature by developers.
- Security Risks: Solana is susceptible to security vulnerabilities due to its unique architecture, requiring constant vigilance & audits.
- Competition: Solana faces fierce competition from Ethereum & emerging challengers, necessitating continual technological advancement & user attraction.
Conclusion:
Consider Solana for its speed, low fees, and developer-friendly environment, but be aware of technical challenges, decentralization concerns, and evolving #smartcontract functionalities. Evaluate carefully based on specific needs and risk tolerance before entering the Solana ecosystem.
Source - cryptoglobe.com
#BinanceSquare
Solana, a strong contender in blockchain, challenges Ethereum with remarkable speed & low fees.
1. Pros:
- Unmatched Scalability: Solana's PoH, Sealevel, & Turbine enable 50,000 TPS, surpassing Ethereum's 15 TPS, fostering mass adoption without compromising speed.
- Low Transaction Fees: Solana boasts exceptionally low fees, incentivizing users & developers compared to Ethereum's fluctuating gas fees.
- Developer-Friendly: Solana offers a developer-friendly environment with a familiar Rust-based language, tools, resources, grants, & hackathons, nurturing a thriving community.
- Thriving NFT Ecosystem: Solana is a hub for #NFTs with high speed & low fees, hosting popular marketplaces like Solanart & Magic Eden.
- Sustainable: Solana's hybrid consensus reduces energy consumption, aligning with growing environmental concerns.
2. Cons:
- Centralization Concerns: Despite claims of decentralization, Solana's architecture raises concerns with validators chosen by the foundation & its governance model.
- Network Outages: Despite high throughput, Solana has faced network outages, raising stability concerns for large-scale adoption.
- Evolving Smart Contract Ecosystem: Solana's ecosystem, while rapidly evolving, differs from Ethereum, potentially seen as less mature by developers.
- Security Risks: Solana is susceptible to security vulnerabilities due to its unique architecture, requiring constant vigilance & audits.
- Competition: Solana faces fierce competition from Ethereum & emerging challengers, necessitating continual technological advancement & user attraction.
Conclusion:
Consider Solana for its speed, low fees, and developer-friendly environment, but be aware of technical challenges, decentralization concerns, and evolving #smartcontract functionalities. Evaluate carefully based on specific needs and risk tolerance before entering the Solana ecosystem.
Source - cryptoglobe.com
#BinanceSquare