Autor Cointelegraph By Ezra Reguerra

NBA merch designer turned to blockchain to help end world hunger

NBA merch designer turned to blockchain to help end world hunger

Uverejnil používateľ | feb 14, 2022 |

When he’s not designing merch for the NBA or supplying coffee for big retailers, Shawn Kurz is fighting world hunger with the help of blockchain technology. Motivated to mend the shortcomings of traditional charity systems, Kurz founded FoodChain Global (FCG), an organization that uses a blockchain-based ecosystem to support charitable initiatives targeting global hunger. Enlisting the help of Cody Boyd, a former military systems engineer to lead a blockchain development team, the FCG launched digital asset products like FoodChain Global token (FOOD) and nonfungible tokens (NFTs) and uses the profits to supply food to food banks. Kurz told Cointelegraph that the project aims to bring the fight against global hunger to younger generations. The team aims to continuously provide digital products that speak to millennials and GenZ who are glued to the digital world. “We need to relate and provide products to future generations to continue to tackle the global hunger crisis but at the same time make the products engaging and interactive.” Related: Bitcoin set to help communities — Latinx nonprofit now accepts crypto donationsAccording to Kurz, many of the current blockchain projects, especially meme coins, have little to no contribution to the real world. He urges the community to move past the fluff and “have strong business leaders showcase the good side of the technology.”At the moment, FCG has released Polygon-based FOOD tokens, NFTs, and crypto merchandise clothing store. The proceeds were used to supply food to the Daily Bread Food Bank and Haven on the Queensway.“Most people who donate to charity just donate and never get to see tangible proof of that money being spent,” says Kurz. However, the FCG founder mentions that people who purchase FOOD tokens can easily track where their money goes through Polygon’s blockchain explorer.By going through the publicly-available transactions on Polyscan, anyone can see the movements of assets within FCG’s ecosystem. With this, people can track the amount that goes to charity. Kurz says that this allows the public to hold the company accountable. Meanwhile, crypto charities dedicated to various causes are on the rise. Many blockchain-based projects have contributed to philanthropic initiatives, raising millions of dollars. Crypto donations platform The Giving Block reported in February that crypto donations multiplied by 16 times in 2021.

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New US inflation data triggers Bitcoin community reactions

New US inflation data triggers Bitcoin community reactions

Uverejnil používateľ | feb 11, 2022 |

The recent news on U.S. dollar inflation spurred a series of reactions from the crypto community, noting that the event should push people toward Bitcoin (BTC). Comments from the crypto community championed Bitcoin as a powerful hedge against U.S. dollar inflation.The U.S. Bureau of Labor Statistics recently reported a 7.5% increase in the all items section of the consumer price index (CPI), the most commonly used indicator for inflation. Following this, Digifox founder Nicholas Merten explained that the dollar might be worth half its current value in the coming years at the current rate of inflation.Annual Inflation Hits 7.5%, and that’s JUST what the FED is telling us. If this continues:Now: $1,000 today will be worthYear 1: $925Year 2: $856Year 3: $791Year 4: $732Year 5: $677Year 6: $626Year 7: $579Year 8: $536Year 9: $496Start assessing your options#Bitcoin— Nicholas Merten (@Nicholas_Merten) February 10, 2022Citing Merten’s tweet, politician Jo Jorgensen expressed her excitement in “participating in Bitcoin” through a Facebook post. On Twitter, crypto analyst Lark Davis also took this opportunity to joke around about selling BTC, his “inflation hedge” while “inflation is going crazy.” User MarcTradePro responded, “Of course not! #BTC is the gold of the future, and the future starts now.”Meanwhile, Binance CEO Changpeng Zhao also used this opportunity to promote Bitcoin and Binance Coin (BNB) using his Twitter account.#bitcoin and #BNB don’t have inflation.— CZ Binance (@cz_binance) February 10, 2022

On the other hand, crypto investor Anthony Pompliano deemed it time to share the famous inflation quote from American economist Milton Friedman.”Inflation is taxation without legislation” – Milton Friedman— Pomp (@APompliano) February 10, 2022

Related: Strong Bitcoin and stocks rally position bulls for victory in Friday’s $860M options expiryInflation is the measure of a currency’s drop in value resulting in increased prices for goods and services. This usually happens when the price of an asset drops as the supply grows. For example, if the U.S. keeps printing more dollars, the purchasing power of USD may grow weaker, increasing prices for goods and services. According to billionaire Carl Icahn, a crisis may follow, given the way the country is printing money.On the other hand, BTC has a fixed supply of 21 million, and there will not be any more minted after the last BTC is mined. Because of this, many argue that BTC is a good hedge against inflation.

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Drake bets $1.3M in Bitcoin on Bengals vs. Rams Super Bowl match

Drake bets $1.3M in Bitcoin on Bengals vs. Rams Super Bowl match

Uverejnil používateľ | feb 11, 2022 |

Drake spends his time betting more than $1 million in Bitcoin (BTC) on Super Bowl matches when he’s not running through the six with his woes.The award-winning rapper recently shared that he placed BTC bets worth a total of $1.26 million on the upcoming Superbowl match between the Cincinnati Bengals and the Los Angeles Rams. Through the crypto sports betting platform Stake, the rapper bet over $471,000 for the Rams to be the winner, including overtime. Drake also expressed his confidence in the Rams’ wide receiver Odell Beckham Jr. The musician placed around $392,000 on Beckham Jr. having more than 62.5 receiving yards and another $392,000 on the wide receiver having over 0.5 anytime touchdowns.Drake wrote, “All bets are in on the family.” Beckham Jr. replied to the post, saying, “It’s time.” This triggered a response from Bengals fan and football veteran Charles James. “Yep, you just confirmed it! I’m Cincinnati! Burrow for the win. Call a reasonable number.”Related: Crypto exchange FTX.US to give away Bitcoin as part of Super Bowl ad A few months back, Beckham Jr. partnered with Cash App and announced that he would take his NFL salary in BTC while promising to give back $1 million in BTC to his fans. The player’s 2021 season earnings are estimated to go up to $4.25 million. However, a sports analyst argued that Beckham Jr. faced losses because of the recent market crash and hefty taxes.Meanwhile, the National Football League will be giving away limited-edition nonfungible tokens (NFT) to fans who will be present in the Super Bowl’s return to Los Angeles on Feb. 13. The NFT will commemorate the game day by giving a customized digital keepsake that features the unique section and row of the attendee.

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EOS Network Foundation reveals plans to pursue a $4.1B lawsuit against Block.one

EOS Network Foundation reveals plans to pursue a $4.1B lawsuit against Block.one

Uverejnil používateľ | feb 10, 2022 |

In a new chapter of the EOS community versus creators saga, the EOS Network Foundation’s (ENF) founder and “community-elected CEO” Yves La Rose revealed that they are preparing for a legal “war” against EOS creators Block.one.According to La Rose, they are reviewing any potential legal action “to seek $4.1B in damages.” Currently, the EOS leader mentioned that a Canadian law firm is working with them to explore what legal action they can take against the original developers of EOS.As Founder of @EosNFoundation I share your frustrations! We are taking further steps to hold @B1 accountable for its past actions and broken promises against #EOS. Review of ALL possible legal recourse to seek $4.1B in damages underway. Let’s do this together! #4BillionDAO coming— Yves La Rose (@BigBeardSamurai) February 10, 2022In a blog post, the foundation announced that many members of the EOS community are very dissatisfied with Block.one.“Block.one has not kept its word regarding past promises and that both the community and individual EOS users have been harmed as a result.”Last year, the foundation announced that they have gone through negotiations with Block.one to find common ground. Both parties engaged in discussions in an attempt to settle the issues in a fair manner. However, ENF notes that Block.one walked away from the negotiations. As a result, the block producers of EOS deemed it necessary to freeze the vesting for future EOS token earnings for Block.one.Related: New research claims 21 accounts pumped the $4.4B EOS ICO with wash tradesBack in 2018, Block.one conducted an initial coin offering of EOS tokens (EOS), selling 900 million tokens for more than $4 billion, the biggest ICO held during that time. However, since then, many have been disappointed by the direction that the company took.A few months back, La Rose described EOS as a failure. Citing the market capitalization and the decrease in value, he said that it’s a terrible financial and time investment. He also said that the community lost key developers and turned away from blockchain development and shifted towards asset management.

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Bitcoin set to help communities — Latinx nonprofit now accepts crypto donations

Bitcoin set to help communities — Latinx nonprofit now accepts crypto donations

Uverejnil používateľ | feb 10, 2022 |

An organization that supports communities in times of need employs the helping hands of crypto to open the doors for a “broader swath of philanthropists.”Powered by charity provider The Giving Block, Corazón Latino is set to accept Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and many other cryptocurrencies to help its goals of reconnecting communities with the environment and providing quick responses to places affected by disasters like the COVID-19 pandemic. The nonprofit consistently runs initiatives focused on eco-tourism, conservation and climate resilience. Apart from these, Felipe Benitez, the founder and executive director of Corazón Latino, says that the organization has “provided rapid response mobilizations to support communities” during emergencies. Arizona, Puerto Rico and El Salvador are among the countries that received its support. The founder notes that adapting emerging technologies will help the organization in the long term. He says that they “believe that being at the vanguard of new tools and technologies” is very important to their future.“Accepting cryptocurrency will be part of our long-term strategy allowing us to be more inclusive, creative, and innovative as we grow and adapt to our changing world.” Benitez adds that their team will also utilize nonfungible tokens to highlight the beauty of the environment. In recognition of Puerto Rico becoming a crypto hub, Corazón Latino will soon reveal NFTs that feature “the most beloved” wildlife in Puerto Rico. “We hope that each virtual asset reflects and embodies our appreciation for Madre Tierra,” says Benitez. Related: University accepts Bitcoin donations to fund crypto-related activities Meanwhile, The Giving Block’s annual report shows that 2021 recorded the most crypto donation volume ever within its platform. The company revealed that donations made a 16x jump from $4.2 million in 2020 to $69.6 million in 2021, making it the largest year for crypto charity. 

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