Autor Cointelegraph By Jesse Coghlan

BIS marks CBDC pilot as 'successful' with $22M transacted

BIS marks CBDC pilot as 'successful' with $22M transacted

Uverejnil používateľ | sep 28, 2022 |

A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions.The central banks of Hong Kong, Thailand, China and the United Arab Emirates (UAE) took part in the pilot program along with 20 commercial banks from those regions.More than $12 million worth of value was issued onto the test platform, which facilitated 164 foreign exchange transactions and cross-border payments between the participating firms totaling over $22 million worth of value according to a Tuesday LinkedIn post from the BIS.Graphic from the BIS on the CBDC pilot. Source: LinkedInDaniel Eidan an advisor and solution architect at the BIS said the pilot focused on wholesale CBDC cross-border payments and the role the central banks have on the platform, adding “we will likely consider more commercial aspects in the future stages of our work.”The platform, known as “mBridge” short for Multiple CBDC (mCBDC) Bridge is a part of Project Inthanon-LionRock, a distributed ledger technology (DLT) CBDC cross-border payment project launched initially in Sept. 2019 involving the Thai and Hong Kong central banks.With the first pilot of the platform now completed the project has moved into its third and final stage before a minimum version of the product with only the platform’s core functionality is put to market.A fully-functional CBDC cross payments platform will only be ready after revisions are made taking into account the feedback from the minimum version, according to a Sept. 2021 BIS report.Related: Russia aims to use CBDC for international settlements with China: ReportThe BIS added that a detailed progress report on mBridge will be released in October which will discuss technical design, legal, policy and regulatory considerations along with a future roadmap of mBridge.A June report by the BIS revealed around 90% of central banks are investigating the adoption of CBDCs. Currently, 11 CBDCs have launched, 15 are in a pilot stage and 26 are in development according to the CBDC tracker from think tank Atlantic Council.

Čítaj viac
Christie’s moves on-chain with NFT auction platform on Ethereum

Christie’s moves on-chain with NFT auction platform on Ethereum

Uverejnil používateľ | sep 28, 2022 |

After a series of successful high-priced nonfungible token (NFT) sales, Christie’s has launched its own dedicated NFT “on-chain auction platform,” allowing auctions to be carried out fully on-chain on the Ethereum network. The 256-year-old British auction giant, which is also the second-largest auction house in the world by fine-art auction revenue, said its “Christie’s 3.0” allows for NFT auctions to be conducted entirely on the ETH network “from start to finish.” “All transactions, including post-sale, will be automatically recorded on the blockchain.”In its past NFT auctions, the payments from the winning bidder were not always conducted on a blockchain, but the creation of Christie’s marketplace allows transactions to occur in a fashion much like the popular marketplace OpenSea, allowing for payments to be made in Ether (ETH). Christie’s said the new marketplace was developed in partnership with NFT smart contract development startup Manifold, metaverse development firm Spatial and blockchain analytics firm Chainalysis.Christie’s 3.0 allows for auctions to be carried out on the Ethereum blockchain network from start to finish. All transactions, including post-sale, will be automatically recorded on the blockchain. (2/4)— Christie’s (@ChristiesInc) September 27, 2022The announcement was paired with an inaugural launch of only one project exclusive to the new marketplace by artist Diana Sinclair, featuring just nine NFTs which can be viewed in an online virtual gallery built by Spatial.Christie’s has seen major success with NFT auctions in the past, such as Beeple’s “Everydays – The First 5000 Days,” which was minted exclusively for the auction house selling for a record $69.3 million in Mar. 2021, becoming one of the most expensive NFTs ever sold.At the time, the sale of the NFT was conducted in partnership with NFT marketplace MakersPlace.The firm also facilitated the auction of nine CryptoPunks in May 2021 with the winning bid coming in at almost $17 million.Related: Beyond the NFT hype: The need for reimagining digital art’s value propositionChristie’s Web3 interest has moved outside of NFT auctions, in July it launched a venture fund aimed at supporting “art-related financial products and solutions” in Web3 with its initial investment going to LayerZero Labs, a company building decentralized applications compatible with multiple blockchains.Rival auction house Sotheby’s has taken a similar interest in Web3 and NFTs, launching its own metaverse in Oct. 2021 and having its share of high-priced NFT sales also.

Čítaj viac
FTX US wins auction for Voyager Digital’s assets

FTX US wins auction for Voyager Digital’s assets

Uverejnil používateľ | sep 27, 2022 |

Cryptocurrency exchange FTX US has secured the winning bid for the assets of crypto brokerage firm Voyager Digital with a bid valued at approximately $1.4 billion according to Voyager.Voyager said the bid was made up of the fair market value of its crypto holdings “at a to-be-determined date in the future” estimated to be around $1.3 billion along with $111 million of what it says is “incremental value,” but did not provide further details.Little information was given regarding what will happen to Voyager customers still awaiting access to their crypto holdings, with Voyager stating additional information about crypto access “will be shared as it becomes available.”Today, after a competitive auction aimed at returning maximum value to customers, @FTX_Official US was selected as the highest and best bidder. Press release linked below. More information about what this agreement means for customers to follow.https://t.co/OmOd7pvSza— Voyager (@investvoyager) September 27, 2022Voyager only mentioned that the FTX US platform “will enable customers to trade and store cryptocurrency after the conclusion of the company’s chapter 11 cases.“Cointelegraph contacted FTX and Voyager Digital for further comment but did not immediately hear back.The sale of the assets is set to be completed after a chapter 11 plan and an asset purchase agreement is submitted for approval by the United States Bankruptcy Court for the Southern District of New York on Oct. 19.Cointelegraph earlier reported that crypto platforms Binance and CrossTower also submitted bids alongside FTX to acquire Voyager’s assets, each proposing their own terms. A source claimed Voyager customers would receive their pro rata share of crypto assets and transition to the FTX platform if its bid was successful.Related: Sam Bankman-Fried denies report FTX plans to purchase stake in HuobiVoyager entered into a chapter 11 bankruptcy on July 5th, sometimes called a “reorganization” bankruptcy, it allows a firm to retain control of its assets and continue operating whilst it plans to restructure or sell the business.The filing was for an insolvency worth over $1 billion after crypto hedge fund Three Arrows Capital (3AC) defaulted on a $650 million loan from the firm, Voyager says its claims against 3AC remain with the bankruptcy estate.The company maintains its chapter 11 filing was “aimed at returning maximum value to customers” and also considered a reorganization, but stated the sale to FTX US was the “best alternative for Voyager stakeholders.”

Čítaj viac
'Grotesquely overpriced' — Apple's App Store wants 30% cut on NFT sales

'Grotesquely overpriced' — Apple's App Store wants 30% cut on NFT sales

Uverejnil používateľ | sep 26, 2022 |

Non-fungible token (NFT) app developers and others have balked at a decision by tech giant Apple to impose a 30% commission on NFTs sold through apps on its marketplace, effectively putting NFT purchases in the same boat as regular in-app purchases. According to a Friday report from The Information, the smartphone company is now allowing NFTs to be bought and sold through apps listed on its marketplace but imposes its standard commission on in-app purchases of 30% — similar to that imposed by Android’s app store Google Play. The commission rate has however been slammed by some for being “grotesquely overpriced” — particularly when compared to standard NFT marketplace commissions, which are around 2.5%.Tech blogger Florian Mueller called Apple’s “app tax” on NFT sales “abusive but consistent,” while Epic Games CEO Tim Sweeney tweeted that Apple is “crushing” another nascent technology that “could rival its grotesquely overpriced in-app payment service.”Now Apple is killing all NFT app businesses it can’t tax, crushing another nascent technology that could rival its grotesquely overpriced in-app payment service. Apple must be stopped. https://t.co/4KChp6jtFZ— Tim Sweeney (@TimSweeneyEpic) September 23, 2022The report noted that popular Solana (SOL) NFT market Magic Eden withdrew its service from the App Store after learning of the policy, even after Apple offered to lower its commission to 15%, though the app continues to be listed on the app store at the time of writing. Meanwhile, other NFT marketplaces on the App Store have reportedly limited functionality due to the hefty commissions. There is also the added challenge of being forced to conduct transactions in U.S. dollars rather than cryptocurrency, which could prove risky given the volatility of cryptocurrency markets.Related: Throw your Bored Apes in the trashOthers have seen the positive side of Apple’s NFT acceptance. Gabriel Leydon CEO of Web3 game developer Limit Break said the move “could put an ETH wallet in every single mobile game onboarding 1B+ players!” adding he would “HAPPILY give Apple a 30% cut of a free NFT.”It’s not the first time companies have battled with Apple regarding its commissions, Epic Games has filed legal proceedings after its flagship game Fortnite was delisted from the App Store in Aug. 2020 after the publisher attempted to sell in-game purchases which skirted Apple’s fees.NFT marketplace apps on the app store currently include OpenSea, Rarible, Magic Eden and marketplaces in crypto trading apps include Binance, Crypto.com and Coinbase Wallet.

Čítaj viac
Breaking: Interpol 'Red Notice' issued for Do Kwon — South Korea prosecutors

Breaking: Interpol 'Red Notice' issued for Do Kwon — South Korea prosecutors

Uverejnil používateľ | sep 26, 2022 |

Interpol has reportedly issued a “Red Notice” to law enforcement worldwide for the arrest of Terraform Labs co-founder Do Kwon.South Korean prosecutors in Seoul on Monday told Bloomberg the international policing organization issued the notice in response to charges Kwon faces in South Korea related to the collapse of the Terra ecosystem.The news comes only a week after South Korean prosecutors reportedly asked Interpol to issue a “Red Notice” for Kwon on Sept. 19. A Red notice is a “request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action” according to the Interpol website.It also comes less than two weeks after South Korean authorities issued an arrest warrant for Kwon and five other associates for alleged violations of the country’s capital markets laws.Kwon was previously believed to have been residing in Singapore, but local authorities said on Sept. 17 he wasn’t in the country, with Kwon saying hours later he wasn’t “on the run,” though he didn’t reveal his location.Related: South Korea issues arrest warrant for Terra founder Do KwonThe Terra ecosystem Kwon co-founded crashed after its algorithmic stablecoin TerraUSD (UST) (now TerraUSD Classic (USTC)) lost its United States dollar peg in May causing billions of dollars worth of liquidations across the cryptocurrency market.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy