Autor Cointelegraph By Turner Wright

Gibraltar's government plans to bridge the gap between public and private sectors with blockchain

Gibraltar's government plans to bridge the gap between public and private sectors with blockchain

Uverejnil používateľ | dec 7, 2021 |

The government of Gibraltar, a British territory at the southern tip of the Iberian Peninsula, has started a pilot program aimed at utilizing blockchain technology to store official credentials on its systems.In a Tuesday announcement, Her Majesty’s Government of Gibraltar said it had partnered with Mexico-based cryptocurrency exchange Bitso and IOVlabs, a startup that develops financial solutions based on the Bitcoin (BTC) blockchain, to integrate blockchain technology into its eGov system. The initial phase of the integration will allow users to store state-issued and certified credentials on its servers in an effort for residents and location organizations to have better access to public services.According to Albert Isola, Gibraltar’s Minister for Digital and Financial Services, officials have already started digitizing government services on the smart contract network RSK, but plan to step up work on the integration in early 2022. He added that Bitso would be contributing $500,000 in Bitcoin — roughly 9 BTC at a price of $55,000 — to the project.“Gibraltar has successfully positioned itself as a forward-thinking jurisdiction for innovative businesses developing and offering blockchain-related solutions,” said Isola. “The implementation of blockchain technology into our processes in partnership with our stakeholders working here will further improve the way in which our community interacts with the government.”Related: Blockchain will transform government services, and that’s just the beginningGibraltar’s Financial Services Commission has recently given the greenlight for crypto firms looking to conduct business in the British territory, including Huobi Group’s local arm Huobi Gibraltar providing spot trading services, and Block.one’s branch Bullish Limited. Many companies in the space seem to be looking at the territory as a more favorable regulatory environment.

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Projects are collecting Toys for Tots crypto donations this holiday season

Projects are collecting Toys for Tots crypto donations this holiday season

Uverejnil používateľ | dec 6, 2021 |

This holiday season, fintech provider Unbanked will be enabling crypto donations for Toys for Tots, a program run by the United States Marine Corps that collects toys to distribute to disadvantaged children.In a Dec. 2 announcement, Unbanked said it would be allowing users to donate cryptocurrencies including Bitcoin (BTC) and Ether (ETH) as part of a fundraising effort for Toys for Tots. Until Dec. 20, good Samaritans can send any amount of money towards the program which has given 604 million toys to 272 million children across the United States, Puerto Rico, and the U.S. Virgin Islands.We are honored to support the incredible work of @ToysForTots_USA this #holidayseasonWe have set up a #crypto payment profile to enable donations in 28 #cryptocurrencies for this wonderful cause ♥️Donate here – https://t.co/jgPj47zIxy https://t.co/UxOt84klhY pic.twitter.com/APLVMLvzea— Unbanked (@UnbankedHQ) December 2, 2021“The cryptocurrency bull market has been good to all of us in this industry and this holiday season is the perfect time to pay it forward,” said Unbanked co-CEO Ian Kane. “We naturally wanted to use the benefits of crypto to give back during this holiday season.”Unbanked does not exclusively represent all crypto users’ philanthropic endeavors, however. A project operating under the name Elf Token reported it has received $41,200 to be used toward purchases for Toys for Tots as of Dec. 4, with a goal of raising $100,000 over the holiday season. In addition, the Giving Block, a platform which allows non-profit organizations and charities to accept donations in crypto, currently enables donations using many tokens for the toy collection program.End of the day. 100 toys donated, $1,200 in value bringing our total donations to date to $41,200.@ToysForTots_USA only recommendation is that you might need larger bins for @elf_token since we are not stopping anytime soon #ElfToken #ElfArmy pic.twitter.com/gQycjAMCNW— Elf Token (@elf_token) December 4, 2021

Related: Charity platform expects significantly larger crypto than fiat donations for Giving TuesdayxCharities, universities, faith-based organizations and others have stepped up the number and amount of donations in crypto as part of Giving Tuesday this year. Cointelegraph reported on Dec. 2 that the Giving Block raised $2.4 million in crypto this year, representing a 583% increase from the Tuesday after Thanksgiving in 2020. The platform is aiming to raise more than $100 million in crypto donations by the end of the year.

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Former Facebook engineers at Mysten Labs raise $36M for Web3 infrastructure

Former Facebook engineers at Mysten Labs raise $36M for Web3 infrastructure

Uverejnil používateľ | dec 6, 2021 |

Mysten Labs, the research and development firm founded by former engineers from social media giant Facebook, has announced the completion of a $36 million funding round towards its goal developing a Web 3.0 infrastructure platform.In a Monday announcement on Medium, the team behind Mysten Labs said the firm had raised $36 million in a Series A funding round led by Andreessen Horowitz with participation from Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Standard Crypto, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT and others. According to a CNBC report, CEO Evan Cheng said Mystery would use the funds to build the infrastructure necessary for cryptocurrency- and blockchain-focused firms to deliver technology.“We believe fundamental limitations in existing crypto infrastructure are frustrating broader adoption of Web 3.0,” said Mysten’s team, citing the scalability of existing chains as well as the lack of interoperability of many smart contracts.In addition to the development of Web 3.0 infrastructure, Mysten said it planned to launch a “next-generation NFT platform for the Metaverse” in 2022. The project is aimed at allowing users to more easily move assets across different virtual environments without sacrificing functionality. Related: Sommelier partners with Mysten Labs to launch Cosmos smart contractsFounded in September 2021 by former cryptographical program engineers behind the blockchain architecture for Facebook’s — now Meta’s — crypto-payments platform Diem and mobile wallet Novi, Mysten Labs is led by CEO Evan Chang, CTO Sam Blackshear, COO Adeniyi Abiodun, and chief scientist George Danezis. The most recent head of Novi, David Marcus, announced on Dec. 1 that he planned to step down by the end of the year. Meta — then Facebook — began piloting Novi in the United States and Guatemala in October.

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CME Group launches micro Ether futures as ETH hovers at $4K

CME Group launches micro Ether futures as ETH hovers at $4K

Uverejnil používateľ | dec 6, 2021 |

Major derivatives marketplace Chicago Mercantile Exchange Group has expanded its crypto offerings to include a micro Ether futures product.In a Monday announcement, the CME Group said it had launched a micro Ether (ETH) futures contract sized at 0.1 ETH, giving institutional and individual traders another product for Ether exposure. The cash-settled micro ETH derivatives offering is trading under the Globex code METZ1 and joins crypto derivatives products at the exchange including micro Bitcoin (BTC) futures, Bitcoin futures, options on Bitcoin futures and Ether futures. The newest member of the CME Group cryptocurrency product family has arrived. Micro Ether futures are available for trading. https://t.co/bJoZWA7qZz— CME Group (@CMEGroup) December 6, 2021Tim McCourt, CME Group’s global head of alternative investment products, said the offering would allow investors “to hedge their spot Ether price risk or more nimbly execute Ether trading strategies.” Genesis Global Trading, one of the liquid providers for CME Group’s crypto derivatives offerings, said it had already executed a contract for the micro ETH futures product in partnership with crypto investment firm XBTO.“The Micro Ether futures contract fills a need for greater flexibility and more precise delta hedging,” said Joshua Lim, Genesis’ head of derivatives. Related: Kelly Strategic Management files for Ethereum futures ETFThe announcement came following the price of ETH and many cryptocurrencies including Bitcoin falling significantly over the weekend. According to data from Cointelegraph Markets Pro, the ETH price has dropped more than 15% since hitting an all-time high of $4,785 on Nov. 8. At the time of publication, the price of the second-largest cryptocurrency by market capitalization is $4,016, having fallen more than 13% in the last seven days.CME Group first launched its Bitcoin futures contracts in December 2017 amid the major bull run. The exchange’s micro Bitcoin futures product launched in May, with the company reporting on Thursday that it had traded more than 3.3 million contracts.

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US lawmaker urges congressional action on crypto as government avoids shutdown

US lawmaker urges congressional action on crypto as government avoids shutdown

Uverejnil používateľ | dec 3, 2021 |

Pennsylvania Senator Pat Toomey, one of the ranking members of the Senate Banking Committee, has suggested Congress step in with legislation should the Securities and Exchange Commission (SEC) be unable to provide sufficient guidance on cryptocurrencies.In a Friday announcement from the Senate Banking Committee, Toomey said he was dissatisfied with the answers SEC chair Gary Gensler had provided on the differences between securities and commodities in regards to token projects and stablecoins. The senator questioned some of the SEC’s seeming disparities in enforcement actions between crypto firms and advisory services companies, including Glass Lewis for similar allegations of providing “fraudulent and misleading information.”“For investors to benefit from a fair and competitive marketplace, federal agencies should answer questions about whether — and if so, how — new and emerging technologies fit under existing regulations,” said Toomey. “Chairman Gensler’s failure to provide clear rules of the road for cryptocurrencies underscores the need for Congress to act.”Toomey has previously come out in support of the U.S. government launching a central bank digital currency and said he would vote in favor of President Joe Biden’s pick for the next Federal Reserve chair, Jerome Powell. In addition, the senator was behind a bipartisan effort in August to amend some of the provisions in the recently passed infrastructure law to not apply to developers, miners and others in the crypto space. Other U.S. lawmakers have proposed solutions to the tax reporting requirements following Biden signing the bill into law, as Toomey said Congress would “have to do it in subsequent legislation.”Related: Lawmakers push back on crypto provisions in infrastructure billThough Congress has not yet acted on crypto as Toomey suggested, both the House and Senate were occupied passing a bill extending funding for the U.S. government through Feb. 18 in an effort to avoid a shutdown. President Biden signed the “Further Extending Government Funding Act” into law today.

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