(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
Highlights from IOTA Demo Day: Exciting Innovations and Presentations on IOTA EVM
▪️IOTA has shared a highlight of the recent Demo Day program featuring the likes of Qiro Finance, Black Frog, Orobo Finance, Auvo Digital, The Real Lifestyle, and Defa Primitive.
▪️According to the IOTA founder, this program is a huge step towards supporting and mentoring its beneficiaries to impact the ecosystem significantly.
The much-anticipated Real-World Assets (RWA) Accelerator Demo Day program by IOTA (IOTA) and Tenity was held on September 17 in Singapore with the participation of six finalists selected and supported by the two. As we earlier reported, each finalist got a $50,000 grant as well as mentorship, tools, and networking opportunities.
Soon after the program, IOTA shared a highlight with the community featuring presentations by Qiro Finance, Black Frog, Orobo Finance, Auvo Digital, The Real Lifestyle, and Defa Primitive.
Here’s a recap of the incredible presentations from yesterday’s #IOTA @tenity_global Demo Day! Let’s dive into the highlights from each team’s journey and the innovations they’re bringing to #IOTAEVM — IOTA (@iota) September 19, 2024
Qiro Finance
According to Qiro Finance’s presentation, it is building an outstanding on-chain private credit marketplace on the IOTA EVM. The idea is to bridge the on-chain investors and the traditional Fintech funding to solve a major problem of rising credit defaults in private credit protocols.
Black Frog
Black Frog’s presentation was centered around the proposal for small-scale miners to capitalize on the mineral market via tokenized assets and provide returns to investors on held commodities.
Researching the background of its provision, CNF observed that the demand for minerals, especially Cobalt, could accelerate considerably with the growing need for a shift to green energy. To enable the industry to meet this need, Black Frog provides financing and credit facilities via loans and bonds on the IOTA platform. Recently, it unveiled a commodity-backed yield-bearing stablecoin to improve the interest offerings on commodities held by small miners.
The Real Lifestyle
According to IOTA, The Real Lifestyle (TRL) provided a comprehensive presentation on its vision of tokenizing and fractionalizing real estate. Fascinatingly, TRL ensures investors are offered fractionalized investment in home ownership and rental properties. In addition to lowering the barrier for real estate investment and triggering financial returns, TRL ensures that liquidity and economic activities are brought to the IOTA EVM.
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Orobo Finance
Orobo’s presentation highlighted the importance of digital product passports for the circular economy. It also mentioned several initiatives that have been fully developed and are in the pipeline, ranging from RWA tokenization to sustainability, digital twins, and compliance. Orobo can validate and verify products and materials using the IOTA’s digital product passports.
Auvo Digital
Auvo Digital focuses on digital identity by providing users with a no-code identity management platform to secure on-chain identity. At the program, they displayed their innovative tools for businesses and organizations to enable them to create and manage decentralized identities. According to them, this secures the privacy-focused platform on the IOTA EVM.
Defa Primitive
Defa Primitive spoke about the incredible potential of transforming traditional invoices into RWA tokens. According to them, their initiative unlocks finance for trade logistics, supply chains, and Small and Medium-sized Enterprises (SMEs). On top of that, it provides immeasurable opportunities for on-chain investors to access new opportunities on the IOTA EVM.
Commenting on the initiative for these six finalists, IOTA founder Dom Scheiner disclosed that the support and mentorship provided through the Accelerator Program enhances RWA tokenization growth while ensuring that IOTA EVM users benefit from cutting-edge solutions.
At press time, IOTA (IOTA) was trading at $0.13 after surging by 7.6% in the last 24 hours.
@ Newshounds News™
Source: Crypto News Flash
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CARDANO FOUNDER WARNS TRUMP DEFI VENTURE COULD POLITICIZE CRYPTO LANDSCAPE
Cardano and Ethereum co-founder Charles Hoskinson expressed deep concern over the new DeFi platform venture of former President Donald Trump known as World Liberty Financial.
Speaking in interviews, Hoskinson said the venture is likely to turn into a political flashpoint. This might add to the already delicate situation surrounding regulation of cryptocurrencies in the United States.
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Through his comments, the executive expressed an emerging discomfort about seeing how politics is penetrating into the digital finance world from the top echelons of the industry.
Trump: Political Polarization And Crypto
The biggest fear Hoskinson has is political polarization due to Trump in crypto. According to him, “Everything Trump does, the left hates with such a passion,” suggesting that Trump’s actions might provoke a backlash from D-------s.
This could result in investigations by regulatory bodies like the Department of Justice or the Securities and Exchange Commission, potentially stifling innovation and growth within the industry.
According to the Cardano founder, although Trump presents himself as a pro-crypto candidate, the history of high staff turnover at the White House raises all kinds of concerns in regards to his ability to create a clear policy for cryptocurrency.
Moreover, Hoskinson criticized both Trump and Vice President Kamala Harris for failing to present a vision for the future of crypto in America. He believes that neither leader demonstrates enough sophistication in understanding the complexity surrounding regulation of cryptocurrency.
This is particularly alarming because both are positioning themselves for positions of leadership in America at a time when adoption of cryptocurrency across the world is increasing geometrically.
Implications For The Crypto Sector
The potential politicization of World Liberty Financial could have far-reaching implications for the entire crypto sector. Hoskinson emphasized that this platform might transform what has traditionally been a bipartisan issue into a divisive one.
Hoskinson warned that if D-------s feel threatened by Trump’s DeFi initiative, they might use governmental powers to choke it. This could make most of the crypto projects go offshore where regulatory environments could be more conducive.
Despite those risks, Hoskinson mentioned a couple of positive aspects to Trump’s approach on crypto. He said that the recent outreach by Trump toward the crypto community attracted influential investors and advocates within the industry. However, he remains cautious about whether this support will translate into effective policies if Trump returns to power.
Future Prospects For Digital Currencies
Looking ahead, Hoskinson said that the key thing is establishing a clear regulatory framework to encourage growth in the US crypto market. He thinks that if America could create an environment conducive to innovation, this could end up adding trillions of dollars to the country’s economy within the next decade.
To the contrary, he says other regions such as Singapore and parts of Europe are moving ahead with crypto-friendly regulations while the US lags behind.
Accordingly, players in the crypto field will need to be very vigilant about the way things progress politically as World Liberty Financial builds up to its launch. Success or failure of this project could set monumental precedent for subsequent crypto projects in America.
The bottom line is going to depend on whether or not both political parties learn to engage with this space of rapid change.
This warning from Charles Hoskinson reflects bigger concerns within the cryptocurrency community that international political affiliations should not influence regulatory policies. As Trump’s DeFi plans take shape, all eyes will be on how they impact not just his political ambitions but also the future viability of cryptocurrencies in America.
@ Newshounds News™
Source: Bitcoinist
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AUDIO – A MUST HEAR! DO YOU WANT TO GO HOME? WHO ARE YOU? | YouTube
Jim educates us on our history and the CONtracts that have been hidden from us to show how we got to where we are since the days of Lincoln and the Civil War. A must to listen to.
@ Newshounds News™
Source: Seeds of Wisdom Team Currency Facts
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Source: Dinar Recaps
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IMF STAFF PROPOSE REDI FRAMEWORK TO CATALYZE CBDC ADOPTION
IMF staff members have introduced a high-level four-stage framework emphasizing regulation, education, design and incentives to enhance CBDC adoption.
International Monetary Fund (IMF) staff members have issued a guide for policymakers and banking institutions on ways to increase the uptake of central bank digital currencies (CBDCs) globally.
The IMF issued the “Central Bank Digital Currency Adoption Inclusive Strategies for Intermediaries and Users” paper on Sept. 21.
The paper recommended implementing inclusive strategies for intermediaries and end-users.
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It introduced a high-level framework for regulation, education, design and deployment and incentives (REDI) to help spur CBDC adoption.
According to the IMF staff members, successful CBDC adoption will require proactive strategic policy and design choices that benefit end-users and intermediaries. Therefore, they urged central banks to focus on stakeholder engagement.
The REDI framework is curated by IMF staff members to help central banks improve CBDC adoption in their respective countries.
As shown in the above image, the REDI framework focuses on four key pillars. The first sub-section, regulation, involves policymakers exploring potential regulatory and legislative measures to nurture CBDC adoption.
The education sub-section recommends developing communication strategies to build CBDC awareness, with central banks acting as a central point of communication. Thirdly, the paper highlighted the need for strategies targeting specific user groups and creating an extensive network of intermediaries.
The final sub-section recommended the introduction of monetary and non-monetary incentives to encourage the mass adoption of CBDCs. Subsidizing setup costs, transaction fees and taxes for merchants are some of the recommendations made by the IMF staff.
The paper also encouraged further discussions around pre-existing concerns:
“Certain policy issues, including sustainability of the CBDC system, ensuring integrity of the system, and balancing adoption with financial stability, will need to be explored further.”
In August, two IMF executives said that increasing the average crypto-mining electricity costs globally by as much as 85% through taxes could significantly reduce carbon emissions.
According to IMF Fiscal Affairs Department’s deputy division chief Shafik Hebous and climate policy division economist Nate Vernon-Lin, a tax of $0.047 per kilowatt hour “would drive the crypto mining industry to curb its emissions in line with global goals.”
@ Newshounds News™
Source: CoinTelegraph
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ALGORAND FOUNDATION ANNOUNCES BUILD-A-BULL HACKATHON IN COLLABORATION WITH AWS
NOTE: ALGORAND IS ISO 20022 COMPLIANT
September 20, 2023 – Singapore, Singapore
Registration is now open for global hackathon with $200,000 in prizes across five tracks.
The Algorand Foundation – the organization focused on growing the ecosystem for the world’s most advanced, secure and reliable layer-one blockchain – announces the opening of registration for Build-A-Bull, a global virtual hackathon with $200,000 in prizes.
The hackathon, powered by Algorand Ventures and in collaboration with AWS (Amazon Web Services), will run from October 18 through November 15, 2023. Registration is free and open to anyone.
Build-A-Bull is a hackathon to create consumer-friendly applications using the power and scalability of the Algorand blockchain.
Spanning four weeks, the hackathon offers an opportunity for committed developers and entrepreneurs to conceive a business concept, accelerate it though the development phase and to ultimately present a final product to a panel of expert judges.
Throughout the process, participants will receive matchmaking, tooling, support and mentorship to help bring their ideas to life.
Ryan Terribilini, EVP of Algorand Ventures, said,
“With Build-A-Bull, we expect to attract a new wave of promising builders to come into the Algorand ecosystem.
“We are looking for high-potential, investible startups and founders to bring innovative projects to the Algorand blockchain, and we are confident that the resources and exposure of participating in Build-A-Bull will catalyze this next generation of Algorand builders.”
The hackathon includes five tracks.
▪️DeFi, presented by Circle
▪️Gaming, presented by Unity
▪️Consumer, presented by AWS
▪️Interoperability, presented by Wormhole
▪️Impact, presented by Algorand Foundation
The winner of each track will receive $25,000 and will be invited to pitch to investors on a ‘demo day,’ with a public on-chain vote determining an additional $10,000 grand prize, as well as $25,000 in AWS credits.
The second and third-place winner of each track will receive $10,000 and $5,000 respectively. A bonus ‘university prize’ of $5,000 will be awarded by the judges.
The judging panel is comprised of industry leaders and investors including QCP Capital, DWF Ventures and Blockchain Capital.
Projects will be evaluated by the following criteria – the skillset and strength of the team, the design and interface of the project, the quality of the pitch and the viability of market adoption.
For more information, and to register, please visit here.
About Algorand Foundation
The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance and healthy and prosperous open-source ecosystem.
Designed by MIT professor and Turing Award-winning cryptographer Silvio Micali, Algorand achieves transaction throughputs at the speed of traditional finance – but with immediate finality, near zero transaction costs and on a 24/7 basis.
Newshounds News™
Source: DailyHodl
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CONSUMERS PREFER CASH OVER CBDC: DEUTSCHE BANK SURVEY
Most respondents chose private crypto like BTC over government-backed digital currencies.
While several central banks across the globe are actively exploring the feasibility of launching a Central Bank Digital Currency (CBDC), a recent survey has revealed that cash will not be going away anytime soon as a majority of consumers are not enthusiastic about using those products.
The survey, conducted by Deutsche Bank, Germany’s leading investment bank, polled 4,850 respondents from Europe, the United Kingdom, and the United States. A majority of the respondents stated that they prefer conventional payment methods like cash and debit or credit cards.
Cash Reigns Supreme
According to the study, 59% of the respondents believe cash will always be useful, with 44% stating that they would prefer using cash for payments rather than CBDCs. Only a small percentage of respondents, 16%, expect CBDCs to become mainstream payment options.
Deutsche Bank analysts, Marion Laboure and Sai Ravindran, noted in the report, “While 59% of consumers believe that cash will always be relevant, the C---D-19 pandemic accelerated the shift toward digital payments, particularly among Gen Z.”
Although most of the respondents were hesitant about using a CBDC, about 31% said they would rather use a cryptocurrency managed by the government than one backed by private institutions.
Privacy Concerns Remain
The survey further revealed that privacy concerns significantly affect the adoption of CBDCs. Most of the participants, especially in the U.S., believe that general cryptocurrencies offer better privacy than government-backed digital currencies. About 21% of the respondents said they preferred a private cryptocurrency like Bitcoin.
On the other hand, most European respondents showed stronger preference for cash, due to the anonymity it offers, than those in the U.S. and the U.K.
Per the survey, central banks are increasing exploring wholesale CBDC use cases, however, user skepticism remains a major issue affecting mainstream adoption. A report by the Bank of Canada revealed that 86% of Canadians are opposed to CBDCs, with a whopping 92% preferring cash over a digital Canadian dollar (CAD).
@ Newshounds News™
Source: Crypto Potato
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MANAGING SUDDEN WEALTH THROUGH SMART TEAM BUILDING BOB LOCK | YouTube
@ Newshounds News™
Source: Seeds of Wisdom Team Currency Facts
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Source: Dinar Recaps
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