Autor Cointelegraph By Ezra Reguerra

The best bear market plan? ‘Relentless optimism for the future,’ says fintech CEO

The best bear market plan? ‘Relentless optimism for the future,’ says fintech CEO

Uverejnil používateľ | júl 25, 2022 |

While many crypto veterans give out a wide range of bear market advice and strategies, some opt for a more straightforward approach—optimism. Being resilient and positive during this time is very important, according to Jeremy Almond, the CEO of Paystand, a business-to-business (B2B) payments fintech.Almond told Cointelegraph that the best way to plan during the crypto winter for companies is having what he calls a “brutal understanding of the facts” and “relentless optimism for the future.” He explained that: “As a company, you always want to be resilient in case of hard times but also optimistic about the world we are creating.”The CEO expressed that companies get to be the ones to implement the vision. Because of that, Almond said that they need to be prepared, saying that the best companies are those who are resilient and enduring.The Paystand executive also highlighted the data that shows that crypto will hit 1 billion users in the coming years. According to Almond, crypto is here to stay, and the companies who stay focused will emerge from the bear market with better products and services. Comparing the crypto winter to the dot-com crash, the CEO explained that: “The companies that survived, thrived and grew were ones that built real products and services but were part of a larger movement that was a change in our business and society.”Almond highlighted that it’s a lot better for companies to focus on creating value for their customers instead of constantly worrying about the prices of a coin. Related: Don’t wait around for recovery, keep on building, says Web3 execWhen asked about the layoffs that the industry witnessed recently, the Paystand CEO commented that the industry needs more companies that developers can work for. This is so that the developers can use their creativity to benefit society. The executive noted that those who are making the most impact will naturally attract talent. He explained that: “In this market, the best developers will go to the best companies that are making the most real-world impact on business and consumers.”Lastly, the CEO encouraged those who are feeling pessimistic during the bear market to zoom out. “When I started, there was no industry at all. There were just a handful of enthusiasts,” said Almond. He urged the community to look at the progress that the blockchain industry has made in the last 10 years and the many products that are being built, like decentralized finance (DeFi) and nonfungible tokens (NFTs).

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Crypto to reach 1 billion users in 2030: BCG Report

Crypto to reach 1 billion users in 2030: BCG Report

Uverejnil používateľ | júl 22, 2022 |

It’s a very common sentiment for people outside of the crypto community to look at Bitcoin (BTC) prices and make a conclusion that it’s too late to get into crypto. However, a report shows that the industry is still at the beginning phase of the adoption curve. In a joint report published by BCG, Bitget and Foresight Ventures, data shows that compared to traditional investment assets, crypto adoption is still very low. According to BCG, only 0.3% of individual wealth is invested in crypto. The report shows that it’s incomparable to the 25% that is put into equities. Because of the data, the report concluded that the shallow penetration in terms of investment means that there is still a lot of room for more substantial growth and adoption within the crypto industry.Apart from this, the report also compared the internet’s adoption curve to 1 billion users to current cryptocurrency holders, and Ethereum (ETH) addresses with non-zero balances. With this, the report mentioned that “there is plenty of growth to come.”Source: Boston Consulting Group, Bitget and Foresight VenturesBy comparing the data that they have, the researchers were able to predict that by 2030, crypto users may reach 1 billion if the trendline continues in its course. Related: Bitcoin payments make a lot of sense for SMEs, but the risks still remainA recent market report by consulting firm Verified Market Research predicted that in ten years, the nonfungible token (NFT) industry’s value may shoot up to $231 billion. According to the report, the sector may continue an annual compound growth rate of 33.7% in the coming years, with drivers identified as music, film and sports. On the other hand, a report from Mckinsey reported that the metaverse alone could be valued at $5 trillion in 2030. The international consulting company surveyed consumers and companies across various countries and industries to identify a pattern in consumer behavior. According to its findings, e-commerce will be driving the cash flow within the Metaverse, making up to $2.6 trillion in revenue by 2030.

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Blockchain and cybersecurity awareness on the rise: PolySwarm CEO

Blockchain and cybersecurity awareness on the rise: PolySwarm CEO

Uverejnil používateľ | júl 22, 2022 |

As the blockchain space becomes more extensive, cybersecurity becomes a more crucial requirement for many. Because of this, PolySwarm CEO Steve Bassi argued that there is a need to leverage blockchain for cybersecurity.Bassi told Cointelegraph that while the awareness of blockchain technology and security is on the rise, the use of blockchain within cybersecurity is still in its early days. “Awareness about cyber security and crypto, especially over the last five years, increased more than any time during my professional security career,” he said. Despite the rise in awareness, the CEO noted that cybersecurity projects are still in the middle of trying to find applications of blockchain in the space. Because of the market gaps, Bassi noted that they created a project to use blockchain to enhance security. They do this by rewarding users as they provide data on malware. The executive said: “Gathering complete data on malware infrastructure shortens the lifespan of major malware campaigns and ultimately keeps PolySwarm’s customers and the internet at large more secure.”Taking inspiration from the success of the Brave browser, Bassi explained that at the moment, antivirus companies are already gathering what he describes as “ultra-valuable malware infrastructure” but don’t compensate users for providing the data. When asked about the controversies that sparked people’s concerns regarding the gathering of data of Web2 companies like Google and Facebook, Bassi assured users that Web3 is different. According to the CEO, they are more focused on security rather than advertising Related: FBI and CISA issue alert over North Korean cyberattacks on crypto targetsIn June, a cybersecurity firm jumped into the Bitcoin (BTC) train by converting its balance sheet into BTC. The group also began to accept BTC for all of its services, giving a 50% discount for those who pay in BTC. In the same month, Atlantic Council, a think tank based in the United States, released a report on the cybersecurity of central bank digital currency (CBDC). The think tank identified risks in CBDCs including privacy and regulatory oversight.

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Don't wait around for recovery, keep on building, says Web3 exec

Don't wait around for recovery, keep on building, says Web3 exec

Uverejnil používateľ | júl 22, 2022 |

There are many more things that can be built within the blockchain space, and the good news is that members of the community know what they are, said Tegan Kline, the co-founder at Edge & Node, the initial team behind The Graph (GRT). In a Cointelegraph interview, Kline discussed the crypto winter and made suggestions on what the community members should focus on while the markets are down. According to the Web3 executive, the community should stick to its core values and stay determined to deliver real solutions. Kline explained that: “We all go through the downturn together and we all come out of it stronger. We all support each other’s projects, and there’s a virtuous cycle there that continues to nurture the ecosystem.”The Web3 executive also highlighted that the crypto winter provides an opportunity for builders. This is because there is less noise during the bear market, making it what Kline describes as a “builder’s paradise.” Kline also said that: “The community will hunker down and focus on building. Only the committed founders and community members stick around, and this ends up being a great filter. Some even welcome the bear market for this reason.”Following this, Kline underscored that there are still many things that need to be built in the space, mentioning layer 2s, multi-chain aggregation, bridge technology, custody and decentralized autonomous organizations (DAOs) as some of the things that are on the way. Apart from these, Kline also mentioned that blockchain can affect social media. “As the social networks of web3 come to fruition, they will be a game changer,” said Kline. In addition to that, the executive also believes that decentralized exchanges (DEXs) will eventually surpass the volume of centralized exchanges.Related: Crypto winter survival guide: Community shares game plan for the bear marketWhen asked what blockchain community members should keep in mind during the crypto winter, Kline said that some of the greatest companies and technologies were born out of recessions. The executive urged the community to keep building. Klined highlighted: “Don’t wait around for the recovery to happen: keep building, focus on the core mission and remember that we are laying the foundation for the next recovery now.”Lastly, the Web3 executive mentioned that the blockchain ecosystem can expect a wave of more resilient decentralized technologies to rise out of the crypto winter. Kline also said that it may be wise to focus on self-custody, decentralization, and understanding counterparty risk.

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Turkish crypto exchange joins COPA to fight against 'patent trolls'

Turkish crypto exchange joins COPA to fight against 'patent trolls'

Uverejnil používateľ | júl 21, 2022 |

Major Turkish crypto exchange BtcTurk has joined the crypto patent alliance (COPA) to team up with prominent firms in their mission to provide open access to patents and empower the adoption of crypto technologies. COPA aims to abolish patents as it’s perceived as an obstacle to innovations within the sector. The nonprofit favors a more communal approach when it comes to intellectual property. Its members include prominent crypto firms like prominent firms like Coinbase, Block and Aquarius. Apart from crypto-native companies, firms like MicroStrategy and Meta have also joined COPA. The firms pledged to keep public patents on crypto and blockchain tech to stay accessible to the public.According to Özgür Güneri, the CEO of BtcTurk, as a way to improve the crypto ecosystem, the firm decided to join COPA and donate some funds to the nonprofit to help with its work. Güneri explained that the nonprofit plays a significant role in protecting technologies within crypto, especially with Bitcoin (BTC). Additionally, the exchange CEO also noted that BtcTurk will be cooperating with COPA in other aspects of their initiatives. This includes involvement in their judicial processes and being open to requests from the nonprofit. Ayça Aktolga Öztürk, the chief legal counsel for BtcTurk, also commented on the topic, saying that the exchange will support COPA in standing against “patent trolls,” or those who use trademark-patent laws maliciously and legislative protection as leverage. The executive expressed excitement about working with COPA and supporting the ecosystem as a whole.Related: Crypto patent-sharing marks a step in democratizing knowledge ownershipIn 2020, Block, Inc. launched COPA to pool blockchain and crypto patents into one library to ensure open access to the technologies developed by its member firms. The alliance recognized that crypto adoption is in its early stages and that its success depends on the community’s efforts to develop on top of existing technologies.

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