Autor Cointelegraph By Zhiyuan Sun

Russia to decide between blanket crypto ban and legalizing exchanges in 2022

Russia to decide between blanket crypto ban and legalizing exchanges in 2022

Uverejnil používateľ | dec 16, 2021 |

On Thursday, conflicting reports emerged in Russia on the state of crypto regulatory affairs. First, a report by Reuters indicated that the Central Bank of Russia is seeking a ban on cryptocurrencies, citing risks to financial stability and the exploding volume of transactions. If enacted, the move would align with remarks made by Russian President Vladimir Putin last month, who stated that cryptocurrencies “bear high risks” at an investment forum in Moscow. The nation’s central bank is currently preparing an advisory report on the issue.However, Anatoly Aksakov, chairman of the Duma [Russian Parliament] Committee on Financial Markets, gave the following statement in a press conference the same day, as reported by local news outlet interfax.ru and translated by Cointelegraph:There exists a very tough approach about the complete prohibition of cryptocurrencies, such as acquisition or ownership. There [also] exists an approach where there must be appropriate crypto exchanges, where everything is legalized, transparent, and understandable to regulatory bodies. It would be easier for the Federal Tax Service of Russia to tax such [exchange] transactions.Chairman Aksakov also voiced his support cryptocurrency mining regulation in the country, citing factors such as mining taxation and business electricity consumption. Authorities in the country prioritize launching a CBDC ruble and have enacted tough crackdowns on the private crypto sector, including banning mutual funds from investing in Bitcoin (BTC). Most recent figures suggest that Russians transact about $5 billion each year in cryptocurrencies.

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ConsenSys launches Rollups for privacy-enabled transactions on Ethereum blockchain with support of Mastercard

ConsenSys launches Rollups for privacy-enabled transactions on Ethereum blockchain with support of Mastercard

Uverejnil používateľ | dec 16, 2021 |

On Thursday, ConsenSys, a prominent developer of Ethereum (ETH) software, announced the launch of enterprise software ConsSys Rollups. The service, designed on the basis of zero-knowledge (ZK) proofs, is meant to protect specific transaction elements, such as account balances, sender and recipient wallet addresses, and transaction amounts to secure each user’s privacy.Zero-knowledge proofs enable the validation of sensitive encrypted information, such as personal data, by nodes without revealing the data underneath. Such cryptographic techniques have gained enormous popularity in recent years, as users fear their crypto transactions are at-risk of being tracked by blockchain forensic firms such as a Chainalysis. The nature of public ledger blockchains has made all transactions available for anyone to view since their inception, making their underlying tokens less private than physical cash transactions in certain ways.The Rollups feature would be able to support privacy-enabled CBDCs, decentralized exchanges, micropayments, and taxes. “ConsenSys Rollups enables vastly more scalability in addition to strong privacy protections to both enhance solutions for existing use-cases and enable new use-cases. This innovative solution will help accelerate the building of the future of finance”, said Madeline Murray, global lead of protocol engineering at ConsenSys. Mastercards’ engineering team helped in part to design the solution.Raj Dhamodharan, Executive Vice President of Digital Assets and Blockchain Products and Partnerships at Mastercard, added:We’re in the early stages, but are starting to see efficiencies in how permissions and private chain product constructs use open-source technologies. Our work with partners like ConsenSys will continue to advance this space.Mastercard has taken a slow but steady approach to cryptocurrency adoption. In an interview with Cointelegraph Editor-in-Chief Kristina Cornèr the day prior, Mastercard’s executive VP of market development Liza Oakes said the company is “looking at CBDCs, stablecoins, and how to support their developments.”Very excited to announce the launch of @ConsenSys Rollups in partnership with @Mastercard to provide enterprise-grade scalability + address the key challenge of scalable applications on the @ConsenSysQuorum tech-stackhttps://t.co/NE6kuDBYW4— ConsenSys (@ConsenSys) December 16, 2021

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Universities including Berkeley, MIT, Harvard, Oxford to form EduDAO to promote Web 3 innovations, financed by BitDAO treasury

Universities including Berkeley, MIT, Harvard, Oxford to form EduDAO to promote Web 3 innovations, financed by BitDAO treasury

Uverejnil používateľ | dec 16, 2021 |

On Thursday, BitDAO, one of the world’s largest decentralized autonomous organizations with over $2.5 billion assets under management, and its partner Mirana ventures announced the creation of EduDAO with eight of the world’s top universities including University of California Berkeley, MIT, Harvard and Oxford University.EduDAO is financed by the BitDAO treasury, and will allocate $11 million in funding each year project grants, research, and standalone product development with $33 million in initial capital. The funds will go to academic research for next-generation blockchain and Web 3 technologies.EduDAO is financed by the BitDAO treasury, and will allocate $11 million in funding each year project grants, research, and standalone product development with $33 million in initial capital. The funds will go to academic research for next-generation blockchain and Web 3 technologies.Roman Ugarte and Virat Talwar, co-presidents of the Harvard Blockchain Club, said: “Placing the power of targeted funding and information distribution in the hands of a decentralized collective of students, faculty members, and alumni is a revolutionary step forward for institutions such as Harvard.”Jocelyn Weber Phipps, UC Berkeley’s Deputy Director for RDI [Responsible Decentralized Intelligence], added:UC Berkeley is honored to partner with EducationDAO and further build on our new Berkeley RDI Center’s efforts to act as a hub and platform for collaborations globally with other organizations & researchers, as exemplified in leading the first DeFi MOOC with thousands of students enrolled from 30+ countries and our non-dilutive Berkeley Blockchain Xcelerator open to teams around the world.

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Cointelegraph Editor-in-Chief Kristina Cornèr talks digital currencies with Mastercard at Global Impact Week

Cointelegraph Editor-in-Chief Kristina Cornèr talks digital currencies with Mastercard at Global Impact Week

Uverejnil používateľ | dec 15, 2021 |

Global Impact Week, an industry event which features fintech, policy, climate, healthcare, and media innovations, kicked off in Valencia, Spain, and is ongoing from Dec. 14 to 18. Recent figures put attendance at 100,000, with 500 speakers and 150 live sessions. Cointelegraph’s Editor-in-Chief Kristina Cornèr has been in virtual attendance at the event, moderating the panel titled Fireside Chat: Fintech Defining the Future with Mastercard’s executive VP of market development Liza Oakes. Here’s what they had to say:Kristina Cornèr: In November, Mastercard announced the launch of crypto-funded payments cards. How do you see this opportunity develop in the next few months or years?Liz Oakes: We started the service in fiat money. You can start by using Mastercard to purchase crypto where allowed and cash out into fiat money again. That was the first step of the development, figuring out a gateway from fiat into crypto safely. And the second stage is the topic of clearing settlements for potentially hundreds of cryptocurrencies. Moving forward, we are looking at CBDCs, stablecoins, and how to support their developments.KC: What other experiments is your firm developing regarding crypto, such as NFTs, payments in the Metaverse, etc.?LO: Personally, I’m fascinated by NFTs, but I also recognize there’s an enormous security challenge. The answer to this, which is still in development, cannot be that of cashing-out to a non-connected physical location.KC: How do you see new developments playing a role in financial inclusion?LO: I think I read the statistics the other day that 1% to 2% of the entire [world population] has participated in crypto. So there’s a lot of money in it, but it’s a very, very low percentage demographic who feels they can actually participate. So it’s a long way to go, and we are not quite there yet.

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Gravity Bridge brings Ethereum to the multichain

Gravity Bridge brings Ethereum to the multichain

Uverejnil používateľ | dec 15, 2021 |

On Wednesday, the Interchain Foundation, a Swiss non-profit serving as a steward of the Cosmos (ATOM) ecosystem, announced the launch of Gravity Bridge as built by decentralized internet service provider Althea. Gravity Bridge enables the transfer of ERC-20 tokens between Ethereum (ETH) and Cosmos blockchains. During its initial stages, Gravity Bridge will operate as a standalone chain before migrating to Cosmos Hub early next year. Key technical features include interchangeable token issuance across both chains and the support of Ethereum to Cosmos oracles.Simpier issued the following statement regarding the launch:In this interoperable ecosystem, Gravity Bridge’s place is a foundational piece of infrastructure, available to all Cosmos chains openly, purpose-built to update and iterate quickly, and facilitate the bridge needs of the chains that interact with it. Open markets and frictionless trading unlock liquidity for all. This is the future that uplifts all in the Cosmos network and supports the ATOM value and ecosystem for the Internet of Blockchains.Gravity Bridge is live!Mainnet was achieved via a pioneering decentralized launch. Our thanks to the teams, validators and community members now supporting the chain and deploying the front end, wallet integration and other tools to take GB to the next level pic.twitter.com/iaQplXMTgu— Gravity Bridge (@gravity_bridge) December 14, 2021In March, the Inter-Blockchain Communication, or IBC, protocol launched on the Cosmos network, allowing for the communication and transfer of digital assets across different blockchains. Since then, there are now over 20 blockchains supporting IBC. Peng Zhong, CEO of Tendermint, the core developer of the Cosmos network, said in an interview with Cointelegraph that he expects to see “about 200 chains connected through Cosmos’ IBC next year.”Billy Rennekamp, Cosmos Hub lead at the Interchain Foundation, added:The Stargate upgrade and release of IBC was the dawn of interoperability, now the Gravity Bridge and our collaboration to ensure bridge safety with Interchain Security cement Cosmos Hub as the bedrock for the Internet of Blockchains.

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