Autor Cointelegraph By Tom Farren

Stablecoins are the perfect trojan horse for Bitcoin, says Tether CTO

Stablecoins are the perfect trojan horse for Bitcoin, says Tether CTO

Uverejnil používateľ | apr 13, 2022 |

As one of a number of Cointelegraph representatives attending the Paris Blockchain Week Summit (PBWS) at the historic Palais Brongniart — a neoclassical building previously serving as the headquarters for the Parisian stock exchange from 1826 to 1987 — European news reporter, Joe Hall sat down for an in-depth interview with the Chief technology officer of Bitfinex and Tether, Paolo Ardoino.Previously ranked 88th in Cointelegraph’s prestigious Top 100 2021 for his influential impact on the growth of the decentralized finance (DeFi) ecosystem, Ardoino spoke on an array of topics including the adoption of Bitcoin and Tether as legal tender in the Swiss city of Lugano, the scalability concerns of popular blockchain networks, as well as the potential for new countries to accept Bitcoin in the future.In early March, the Swiss city of Lugano — which is also a major financial hub in Switzerland — formed a collaborative partnership with stablecoin operator Tether to launch a 3 million-Swiss franc initiative designed to encourage the adoption of blockchain technologies and the use of digital assets.Utilizing Bitcoin (BTC), Tether (USDT) and the native citizen loyalty token LVGA Points, the assets can be transacted by locals in activities such as taxation and purchasing of public goods and services.In addition, the project has also pledged to create educational scholarship programs within the three universities of Lugano, a blockchain summer camp, and a maximum-valued 100 million Swiss franc ($107.2 million) pot to foster the growth of blockchain start-ups:“In just one month since the announcement, working with the city we have set up a working group that includes tax, legal and relocation advisors […] and we have been able to start onboarding 25-30 different companies and startups” […] which “between the company’s assets and private wealth” are valued “between 300 to 400 million Swiss Franc.”Ardoino noted that these company’s relocated their operations from both within Switzerland, as well as from countries such as India and Singapore. He stated that their intention is to “use these few startups as a template” to pave the path for others in the future.Related: Paris Blockchain Week, day 1: Latest updates from the Cointelegraph team on the groundReferencing his tweeted picture of an Lugano newspaper article with the headline ‘Cittá affamata di bitcoin,” translating to “City hungry for Bitcoin,” Ardoino said that “stablecoins are the perfect trojan horse for Bitcoin” in that they can serve as the initial mechanism for adoption before exploration into more complex, regulatory-stringent cryptocurrencies.GM pic.twitter.com/oOFZpZ8qkW— Paolo Ardoino (@paoloardoino) March 4, 2022When questioned on the possibilities of new European country’s adopting Bitcoin, Ardoino said that “we’re looking at different other jurisdictions”, and that some people within “the parliament are interested to talk to us as they would like to educate themselves to create a case for internal adoption.”Though in saying this, he was keen to stress the importance that the vision of wide-scale Bitcoin adoption throughout Europe would not be achieved overnight, but through a bottom-up, community-first approach, such as witnessed in Lugano.

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Applied Blockchain Inc files for $60M IPO

Applied Blockchain Inc files for $60M IPO

Uverejnil používateľ | apr 9, 2022 |

UK-based blockchain infrastructure firm Applied Blockchain has filed an initial public offering (IPO) application on Apr. 8 to the United States Securities and Exchange Commission to issue 3,236,245 shares of common stock onto the Nasdaq Global Select Market with the ticker symbol APLD.The firm currently operates a stock on OTC Pink — the lowest of three tiers within the over-the-counter market as per financial volume and the disclosure of company information required — under the same tag with share price of $18.84.The document of application was keen to emphasize that the public offering price would not be determined, or entirely indicative, of the current market value of OTC Pink, but rather by through diligent assessments conducted by themselves and the underwriters.Saying this, the firm did outline a guidance valuation for potentially interested parties of between $16.54 and $20.54 per share, a range which provides a median of $18.54.There is no official timeline for an SEC response, but in usually circumstances it takes months.Related: Shell-Backed Firm Raises $2.5M for Zero-Knowledge Proof Platform In April 2020, the distributed ledger technology (DLT) firm raised $2.5 million in their second seed round led by Hong-Kong venture capital firm QBN Capital, the first being a $1.5 million raise in early January 2018 led by Calibrate Management and energy giant Shell Trading International.More recently in mid-February this year, Applied Blockchain became the recipient of an undisclosed-sum grant from the Algorand Foundation for the research and development of a reciprocal-flow Algorand to Ethereum bridge titled the London Bridge. The platform is hopeful of enhancing the liquidity and interoperability of the two networks with an inherent focus placed on “security, cost and user experience.”On the 21st of April our CEO @adi_benari will be presenting at the “After the Bell” event in London, an event titled “The Impact of DeFi: What’s Next in Tokenization, NFTs, DAO & the Blockchain Economy.”Register with “APPLIED” and get a 40% discount https://t.co/dnpAzPNO0D— Applied Blockchain (@AppBlockchain) April 6, 2022

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WAGMI United dreaming of domestic promotion following Crawley Town acquisition

WAGMI United dreaming of domestic promotion following Crawley Town acquisition

Uverejnil používateľ | apr 7, 2022 |

Following an unsuccessful venture in purchasing English football team Bradford City F.C in December 2021, WAGMI United — an innovative Web3 brand utilizing blockchain mechanics and the global sporting culture — has announced the acquisition of English fourth-division team Crawley Town Football Club. Founded in 1896, the West Sussex club known as the Red Devils have endured a turbulent existence both on and off the pitch. Triumphs including two league-winning promotions, four standard promotions and seven cup trophies — four being the Sussex Senior Challenge Cup — provide the fans with positive memories, but incidences like the 2006 administration following transition to fully-professional status balance the fortunes.The team is currently placed thirteenth out of twenty-four teams in the English Football League Two, also known as the Sky Bet League Two.For greater context on both Crawley Town, and the immense historical significance of English football, Crawley Football Club — as they were known then — were founded prior to some of the current European heavyweights such as Italy’s Juventus F.C (1897), Spain’s F.C Barcelona (1897), and seven-time Champions League winners AC Milan (1899).WAGMI UNITED COMPLETE TAKEOVER OF CLUBCrawley Town Football Club can today confirm that investment group WAGMI United LLC have purchased Ziya Eren’s controlling shares of Crawley Town Football and Social Club Limited.#TownTeamTogether— Crawley Town FC (@crawleytown) April 7, 2022Cointelegraph’s tech writer, Tom Farren spoke to Preston Johnson, the co-founder of WAGMI United, and new co-chairman of Crawley Town for a deeper discussion on the motivations and attractions to the club, as well as how they envisage integrating Web3 mechanisms.Johnson was immediately keen to express his personal, and team’s collective respect for the club’s long-standing history and roots within the community.Enquiring as to how they envision the process of unifying the existing, predominately-physical footballing community of Crawley Town, with the global technological ecosystem of Web3, Johnson revealed that “it’s our priority to make sure that you have the best team possible and, when you go to the stadium in person, you have the best experience possible.”He continued on to say that to achieve such goals, “we do need to also bring in a bunch of new fans from all around the world and get them invested as well, and that’s what we’ll be doing with the NFTs and the Web3 component.”“Ultimately, we want all of our fans — new fans and existing fans, local fans and remote fans — to have a voice in how the club is run and feel it represents them and their community.”WAGMI United is an avant-garde investment organization from the United States founded by Preston Johnson and Eben Smith, two renowned figures within the NFT landscape. Johnson is known as the co-creator of Pixel Vault and PunksComics — that latter of which has traded 23,600 ETH on OpenSea — and Smith as the founder of Digital Collectibles Agency.Their overarching ambition is to transform the successes of Crawley Town with a fusion of the cultural dynamics of social media and nascent technologies within the Web3 sphere, such as digital fan tokens, NFTs, and blockchain transparency, with traditional business operations witnessed throughout the sporting industry.To support the footballing endeavour, a number of successful entrepreneurs including VaynerX chairman Gary Vaynerchuk will take on advisory roles within WAGMI United to help support the execution of technological initiatives.After donating an initial £10,000 to the Crawley Town Community Foundation, the organization announced their inaugural NFT collection in partnership with Pixel Vault on May 7.Speaking with high expectations for the upcoming NFT partnership with WAGMI United, founder of Pixel Vault, Sean Gearin stated that “I believe we can come together as a community and utilize the powerful force that is Web3 to help create a positive change in the sports landscape.”We too are going to be in the sports business. https://t.co/NyQrEpATo4 pic.twitter.com/N2fFzdZ5U1— Pixel Vault (@pixelvault_) April 7, 2022

The newly-appointed founders have issued a bold pledge to orchestrate a fan-vote to decide on their future role within the club if they do not achieve the blueprinted success of “earning promotion to League One by the end of their second season in charge.” In their eyes, the probability of promotion during that timeline as we currently stand is fifty-percent.Upon requesting further clarification for the supposed “mechanisms to hold ourselves accountable” in the originating press release, in tandem with their aspirations of second-season promotion into the League 1, Johnson wasn’t yet willing to divulge WAGMI’s intentions regarding potential DAO adoption, but did exclusively reveal that “current season ticket holders will for sure” be granted priority access to any voting mechanism implemented.

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HBAR Foundation launched a $250M metaverse fund to enhance consumer brand adoption

HBAR Foundation launched a $250M metaverse fund to enhance consumer brand adoption

Uverejnil používateľ | apr 7, 2022 |

The HBAR Foundation, a not-for-profit independent organization of distributed ledger firm Hedera Hashgraph, has announced the establishment of a $250 million dollar metaverse fund to drive consumer brand adoption of tokenized Web3 applications.The foundation’s team has identified applications within both the Web3 and Hedera ecosystems that build direct from business-to-consumer and act as a reciprocal middle-man between all parties for the metaverse fund to focus their efforts across four sectors: blockchain gaming, the brands and collectibles market, sporting experiences and institutional metaverse opportunities.The fund’s inaugural recipient, Sayl, operates an owner relationship management (ORM) platform focused on strengthening the commercial connection between brands and consumers with the integration of Web3 mechanics.In a video conversation with Alex Russman, the director of the metaverse fund at the HBAR Foundation spoke to Cointelegraph about an array of subjects including the reasons for partnering with Sayl, the importance of technological architecture in the space as well as upcoming yet-to-be-announced partnerships with gaming and sports platforms, and fashion brands.”Sayl’s current global customer relationship management (CRM) operation serves over 300 corporations, including industry giants such as Proctor and Gamble, Loreal and Brussels Airport, among others. According to Russman, “they see the potential of Web3, so are integrating [nonfungible tokens, or] NFTs and tokens into that offering, being that hand-hold service that allows a large enterprise to understand how tokens relate and fit into their business.”This extends further than a simple marketplace hub and wallet integration to “deeper management tools” within the Sayl Store Manager App. He said this includes designing, issuing and distributing NFTs to consumers, all of which support lowering the educational barrier to entry for customers interacting with their desired brands.Russman continued on to note that “it’s really that tooling combined with Hedera’s technology — speed, low-fees, sustainability — that makes Hedera and partners like Sayl the obvious choice for the enterprise metaverse to flourish.”Related: HBAR Foundation launches $100M climate-focused impact fund, declaring DOVU as inaugural grantee(1) We’re excited to officially announce the launch of the #Metaverse Fund, a major acceleration force for #gaming, virtual worlds, fashion, #NFTs, consumer brands, social platforms, the creator economy, & enterprise to enter the #Hedera ecosystem ⚡ https://t.co/0tFydGDMlV pic.twitter.com/HVprXZ5FyL— The HBAR Foundation (@HBAR_foundation) April 7, 2022Speaking on Sayl’s illustrious lists of clients, Russman stressed the immense consideration that must occur with this large an enterprise entering the Web3 space, noting that “it’s not the same as doing a single NFT drop,” but that:These are all long-term relationships, so these are the kind of meaningful pieces that take longer to ship, but they’re moving the needle for the distributed ledger technology (DLT) industry as a whole, and Hedera is very well positioned as a part of that.”

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Interlay introduces new protocol for Bitcoin’s reciprocal relationship with DeFi

Interlay introduces new protocol for Bitcoin’s reciprocal relationship with DeFi

Uverejnil používateľ | apr 7, 2022 |

Interoperability network Interlay has released a 21-page technical whitepaper, titled XCC: Theft-Resilient and Collateral-Optimized Cryptocurrency-Backed Assets, advocating for the imminent development of cross-blockchain interoperability solutions to unlock a plethora of potential within the decentralized finance (DeFi) ecosystem.As a Polkadot (DOT) parachain, Interlay is focusing its efforts on opening pathways of communication and interaction between Bitcoin’s currency-native ecosystem and the wider functionalities of the DeFi space with networks such as Ethereum (ETH) and Polkadot. The newly-launched XCC protocol — serving as an additional layer of XCLAIM, which was introduced to the market in 2018 — enables greater asset sovereignty during cross-chain activities such as wrapping, as well as unifying Bitcoin multisigs with mechanisms typically native to the Ethereum network such as commit chains.To uphold the purported benefits of risk aversion and capital efficiency, the XCC asset will only be available within curated DeFi applications, however, users have the freedom to transition to the interBTC product if they require greater flexibility. Both services will exist in tandem with each other, expanding the capabilities of Bitcoin’s DeFi market to a wider consumer audience. According to their assessment, XCC ensures that “any Bitcoin that is staked long-term and is not intended to be moved can essentially “release” its collateral,” and that this can then be “reused to secure other, “liquid” BTC being bridged… allowing for vaults to serve more users with the same collateral.”Interlay co-founder & CEO Alexei Zamyatin shared his vision for the future of XCC in terms of decentralized adoption as well as a security enhancement, stating: “interBTC, aiming to become the equivalent of DAI for BTC, already decentralized Bitcoin custody. However, the goal always was to achieve non-custodial BTC DeFi — a very hard problem to solve. XCC sets a milestone in this regard, finally enabling theft resilient and easy-to-use Bitcoin DeFi.”Related: Interlay aims to advance Bitcoin’s DeFi potential with new interoperable bridgeA previous recipient of a Web3 Foundation grant, Interlay announced progressions to their wrapped Bitcoin (wBTC) digital asset, kBTC, in mid-March, deploying the token onto their canary parachain Kintsugi. Already supported on the Polkadot native parachain protocols Karura and Moonriver, the move instigates their preparations for upcoming deployment across Cosmos and Ethereum sometime within the calendar year.

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