The “digital yuan wallet app” is China’s central bank’s pilot version of a digital yuan wallet for mobile devices. The digital wallet will allow users to make payments and transfer funds.

China’s central bank has published a prototype version of its digital yuan wallet application on mobile phone app stores as part of its push to build a digital currency.

On Tuesday in Shanghai, the People’s Bank of China (PBOC) digital currency research institution released the “e-CNY (Pilot Version)” app for download on Chinese Android and Apple app stores.

Individual users in China may now download an early version of the software to try establishing and maintaining a personal wallet, as well as digital yuan transactions, according to a tweet from BlockBeats, a local news outlet.

The e-CNY app is now available for download on both iOS and Android devices.

This App is China’s CBDC’s official service platform for individual users to conduct pilot tests, including e-CNY personal wallet creation and maintenance, as well as e-CNY exchange and circulation services. pic.twitter.com/c8S1newxiw #CBDC

January 4, 2022 — BlockBeats (@BlockBeatsChina)

According to a Reuters article, the software claims to be in an experimental research and development phase and is only available to a limited number of people via approved e-CNY service providers.

Governor Yi Gang of the People’s Bank of China (PBOC) indicated in late autumn 2021 that the nation will continue to develop its central bank digital currency (CBDC) and enhance its design and usability, including improving compatibility with existing payment systems. In a year-end meeting, the PBOC said that it will continue to push for the development of the digital yuan.

China urges US senators to’stop stirring up problems’ over the digital yuan.

China has established a large lead in producing a CBDC for public usage, outpacing the bulk of nations who are currently researching CBDCs. The digital money might be utilized at the Beijing Winter Olympics in 2022, according to the People’s Bank of China. Senators from the United States, on the other hand, voiced alarm about the assertion, noting that American athletes should not use the money during a Chinese-hosted event.

The Federal Reserve, on the other hand, is still debating whether or not the US should implement a CBDC. The US central bank indicated in September, as reported by Cointelegraph, that it is researching the merits of developing a digital dollar and would ultimately release a paper on the topic.

Watch This Video-

The “alipay digital yuan” is a new digital wallet that China’s central bank released. The wallet will allow people to use the digital currency of their choice with ease.

Related Tags

• digital yuan price today
• pboc digital yuan
• digital yuan goes head to head
• china ditches the yuan
• china testing digital yuan

ARPA is a project that aims to create an open-source, decentralized marketplace for both buyers and sellers of computing resources. The idea behind ARPA is to disrupt the current centralized market by creating a platform where users can freely exchange their computing resources without having to pay high fees or be restricted by geographical boundaries.

ARPA Chain (ARPA) is a decentralized industrial-level computing network. The protocol is unusual in that it is a layer-2 scaling solution that is independent of the blockchain. Users may earn incentives by sharing idle storage and providing computer processing on the site. Additional privacy features, such as cryptographic private smart contract execution, are also included in the network.

What Issues Does ARPA Chain (ARPA) Try to Solve?

ARPA aims to help people with a wide range of problems. The protocol, like other layer 2 solutions, gives the industry additional scalability. To increase speed, the protocol makes use of a highly scalable infrastructure and computational sharding. In addition, the developers went to considerable pains to make new user and developer onboarding as simple as possible.

Twitter – ARPA Chain (ARPA)

Inaccurate Information

Incorrect data is another key issue that many computer networks have, which ARPA helps to solve. When calculations are performed off-chain, there is always an additional risk. These off-chain transactions are often generated by a centralized mechanism, making them vulnerable. To guarantee that all outsourced data is cross-referenced, ARPA incorporates patented smart contracts. The protocol even uses a Message Authentication Code to validate the calculations.

ARPA Chain’s Advantages (ARPA)

ARPA has a number of advantages that make it a worthwhile project to follow. Privacy-preserving smart contracts are integrated into the network. These one-of-a-kind protocols allow networks to communicate private data without disclosing it to other parties. Over a redundant decentralized network, the whole system is protected by enterprise-grade encryption. As a result, developers may create privacy-preserving Dapps on ARPA-compliant blockchains.

Interoperability

Another significant advantage of ARPA is that it enhances market interoperability. As a layer-2 solution that works with any protocol, more developers may take use of its privacy characteristics to build more helpful and immersive Dapps. Most high-performing smart contract programmable networks, such as Ethereum and EOS, are compatible with the network. Developers may choose the blockchain that best meets their requirements, with improved privacy and scalability as a result of this flexibility.

ARPA Chain (ARPA) – ARPA Chain (ARPA) – ARPA Chain (ARPA) –

Scalable

Through the use of sharding, ARPA Chain removes scalability difficulties. In TEE, sharding is a data partitioning approach that enables for off-chain calculations (Trusted Execution Environments). ARPA Chain’s data storage capacity is nearly limitless because to sharding.

What is the ARPA Chain (ARPA) and How Does It Work?

The ARPA Chain (ARPA) ecosystem is made up of a bespoke blockchain, a utility token, and a number of proprietary services. To connect the blockchains and protect the network, the network uses proxy smart contracts as a bridge. Nodes, suppliers, consumers, and funders make up the network structure.

Computation by Multiple Parties (MPC)

The ARPA Chain relies heavily on the MPC protocol. This protocol is in charge of decoupling data usefulness from data ownership. It makes advantage of zero-knowledge proofs to allow many users to examine data and extract data synergy together. Zero-knowledge proofs are a security solution that eliminates the need to exchange sensitive information in order to affirm it. The MPC protocol, for example, is divided into two layers: processing and computing. The latter is in charge of executing smart contracts.

MPC – ARPA Chain (ARPA)

Layer of Protocols

A dual-layered method is also used in the ARPA Chain. The protocol layer is the topmost layer. This system works as a public blockchain with no permissions. This network is open to everyone. You are free to join and leave whenever you like. The protocol layer allows users to pool their computing resources in order to maximize earnings.

Layer of Computation

The computational layer is the network’s second layer. The completion of MPC procedures is the responsibility of this system. These are network-critical nodes that must fulfill specific requirements in order to be considered. This layer is also where nodes are rewarded for good behavior or punished for bad behavior.

Consensus

To stay valid, the ARPA Chain employs a number of unique consensus techniques. The Proof-of-Correctness mechanism has taken the place of the Proof-of-Work method. Unlike a financial network, this approach accommodates for the fact that just a few nodes, rather than the whole network, do certain calculations. As a result, the architecture was designed to allow the network to delegate code execution to certain nodes while remaining safe.

Proof-of-Computation

The Proof-of-Computation mechanism is in charge of keeping track of how much work each node has completed. The system tracks the node’s degree of involvement and awards them for their efforts. The system does this by counting the number of triples utilized throughout the calculation.

Proof-of-Security

The Proof-of-Security mechanism is used in TEEs to validate off-chain calculations. TEEs are off-chain networks that help with processing power. This mechanism verifies that the calculations were completed accurately and on time by these parties. This feature is essential since inaccurate data on a blockchain might cause issues in the future.

Coinbase – ARPA

ARPA

ARPA is the network’s primary utility token. Token holders have full access to the network’s features and operations, including the ability to pay for data or rent computing power or space. The ARPA token is used to pay for computations, data rentals, model use fees, and value transfers. This cryptocurrency may also be traded on a number of high-performing exchanges. ARPA is an ERC-20 token with a supply limit of 2,000,000,000 tokens.

Governance

ARPA token holders may also vote on future network enhancements. To guarantee that the ordinary user is heard, the system employs a community governance mechanism. Community governance methods strengthen networks by ensuring that individuals with a stake in a project have a voice. Your vote has greater weight in the ARPA Chain (ARPA) mechanism depending on how many tokens you own.

ARPA Chain (ARPA) — A Versatile Second-Layer Solution

The ARPA Chain (ARPA) offers developers and consumers a selection of simple-to-implement solutions. The network enhances privacy, which is always a positive for cryptocurrency users. Furthermore, the project’s total value is enhanced by the fact that it may be utilized on a number of blockchains. ARPA is a useful initiative to keep an eye on for these and other reasons.

Watch This Video-

The “arpa coin price prediction 2025” is a cryptocurrency that is worth looking into. The ARPA team has been working hard to make sure that the currency will be able to compete with other top cryptocurrencies in the future.

Frequently Asked Questions

Is ARPA chain crypto a good investment?

A: ARPA is not a good investment, its an experimental technology. This means that investing in the project will be risky and should only be done if you have time to invest patiently on something with low risk like Bitcoin or Ethereum.

Is ARPA a good investment 2021?

A: ARPA is a good investment because its based on blockchain technology, and its value will grow as the technology improves. However, this does not guarantee any returns.

Is ARPA a coin?

Related Tags

• arpa chain price prediction
• arpa chain price prediction 2021
• arpa chain price prediction reddit
• is arpa coin a good investment
• arpa chain reddit

The “highest selling nft on opensea” is a rare collection of Cypher Punks that was recently launched on the Opensea. The collection features historically great Cypher Punks and includes some of the most popular NFTs in the market such as CryptoKitties.

On Polygon, Itsblockchain.com has released a highly rare NFT collection comprising historically renowned Cypher Punks who lay the groundwork for cryptocurrency. 

On the 25th of December, itsblockchain.com created a unique NFT collection dubbed Cipher Punks to honor the godfathers of blockchain technology. 460 hand-drawn NFTs portraying persons from the big CypherPunk movement make up the collection. Each piece of art is one-of-a-kind and has historical importance in the world of blockchain and cryptocurrency.

The expanding popularity of NFTs and digital collections has expanded beyond the realm of art. People want to collect NFTs because they provide owners with special benefits and access to a terrific community. Owners of the Cipher Punks NFT collection have early access to the IBC DAO community, an up-and-coming gaming guild in the play-to-earn market. Furthermore, when the DAO becomes public, all Cipher Punks owners will be eligible for a generous airdrop of valued tokens. 

The Cipher Punks collection chronicles the tale of a group of individuals that battled for privacy, lay the basis for decentralization, and helped to bring the open internet into existence. This article was broken down into three parts by Itsblockchain.com. It may be found here. 

To make it simpler for customers to purchase Cipher Punks NFTs, the team chose to launch on the Polygon blockchain, which eliminates any network gas concerns. The mint price is 0.07 ETH, and it can be purchased on the OpenSea exchange. 

Satoshi Nakamoto, Hal Finney, Eric Hughes, Nick Sbazo, Julian Assange, Adam Back, Phil Zimmermann, Bram Cohen, and John Gilmore are among the most uncommon NFTs in the collection, according to itsblockchain.com. 

Here’s where you can see the whole collection.

Karthikeya Gutta, a crypto writer and freelance contributor for ItsBlockchain, was born and raised in India. With in-depth analysis and research, he covers many facets of the sector. His enthusiasm for blockchain and the crypto ecosystem stems from his belief that it has the potential to transform the world and benefit millions of people.

You have successfully subscribed to our mailing list!

Subscribe to get updates on new posts.

Watch This Video-

The “opensea app” is a new cryptocurrency trading platform that has been created by the team behind Rare. The platform is designed to make crypto trading easier and more accessible for all users, regardless of their experience with cryptocurrencies.

Frequently Asked Questions

What are CryptoPunks worth?

A: This is a difficult question to answer. The crypto-currency market as of this writing has gone down drastically in price, but there are still some coins that have seen an increase in value. In general, current values range from $0.13 USD (Litecoin) to over $10 USD (Bitcoin).

Why are CryptoPunks so expensive?

A: CryptoPunks are expensive because they were designed by a large group of individuals who put in their own time and effort. In the future, prices may go down as more people purchase them.

How much did CryptoPunks originally sell for?

A: The original CryptoPunks were intended to be for sale at a price of $1.99, but the game unexpectedly took off and sold out in less than two weeks.

Related Tags

• opensea collection manager
• how to buy nft on opensea
• halloween bears nft opensea
• opensea io collection
• opensea new collections

The “where is kevin durant from” is a question that has been asked for years. The answer to the question is Oklahoma City, Oklahoma.

Kevin Durant, the iconic NBA player, has joined leading cryptocurrency exchange Coinbase as a new prominent face of the firm. Durant will be in charge of promoting Coinbase via all of his significant platforms. 

Coinbase will give digital ad material to the NBA player’s website Boardroom in exchange for the multi-year arrangement, as well as support for all of his main youth projects. 

@coinbase @35ventures @boardroom @coinbase @35ventures @boardroom @coinbase @35ventures @boardroom @coinbase @35 pic.twitter.com/Jn9LslDqER https://t.co/j7jMczim9b pic.twitter.com/Jn9LslDqER

December 15, 2021 — Kevin Durant (@KDTrey5)

The first Coinbase commercial featuring Durant is slated to debut on Thursday. 

Kevin Durant has agreed to a multi-year contract with Coinbase. 

Coinbase is scouring the world of sports for characteristics that will help the company raise its profile. Coinbase has already struck a commercial sponsorship contract with many NBA clubs. 

Coinbase’s partnership with Durant aims to bring in more users to the exchange. Coinbase’s worth has skyrocketed since it went public in April, with the crypto exchange now valued at over $86 million. 

Durant’s foray into bitcoin is one of several notable sports partnerships in the nascent cryptocurrency market. 

Kevin Durant’s manager, Rich Kleiman, stated, “Kevin does very, very few brand partnerships and that was by purpose.”

Coinbase’s “new model of brand partner” would be connected with Durant’s key business platforms as part of the arrangement, he said, in order to attract customers to join Coinbase as investors.

The partnership’s details have yet to be released, but it’s worth noting that Durant’s business, 35 Ventures, previously participated in Coinbase’s $100 million investment round. 

Using sponsorship arrangements to help crypto acquire new audiences 

To acquire mainstream visibility and attract new users, cryptocurrency businesses have spent millions of dollars striking relationships with major sports brands. 

Crypto.com has previously announced ties with the Los Angeles NBA arena, as well as Formula 1 and the Ultimate Fighting Championship. The Golden State Warriors, another top American basketball club, have also signed up with another crypto exchange, FTX. 

Coinbase has also been exploring sports alliances in order to bolster its status as a major cryptocurrency exchange. It recently announced sponsorship partnerships with Evil Geniuses and Team Liquid, two esports teams. 

Coinbase, Exchanges, Posted in: Coinbase, Exchanges, Posted in: Coinbase, Exchanges

Newsletter

The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.

Gain a competitive advantage in the cryptoasset market.

As a premium Edge member, you’ll get additional crypto insights and context in every story.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

Watch This Video-

Related Tags

• kevin durant hometown
• kevin durant net worth 2021
• kevin durant number

The “cointelegraph price analysis” is a blog post that discusses the current cryptocurrency market. The article includes information about the prices of BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX and DOT.

Bitcoin (BTC) continues to lose ground in December, indicating that traders are cashing in on their profits before the year’s conclusion. Because of the uncertainty surrounding the spread of the COVID-19 Omicron form in numerous regions of the globe, the absence of a Santa bounce in the US financial markets implies that risk-off attitude remains.

Even after the dramatic decrease in Bitcoin’s price, institutional demand remains lukewarm, with statistics showing that the Grayscale Bitcoin Trust (GBTC), the biggest institutional Bitcoin instrument, is selling at a discount of more than 20%.

Performance of the bitcoin market on a daily basis. Coin360 is the source of this information.

“High volume panic capitulations,” according to veteran trader Peter Brandt, normally suggest a bottom in Bitcoin, but this hasn’t occurred yet during the current slide from the all-time high. This might be a sign that the “genuine” surrender is yet to come.

Will Bitcoin and most other major cryptocurrencies continue to fall in the coming days, or will a Santa rally save the day? Let’s look at the charts of the top ten cryptocurrencies to see what we can learn.

BTC/USDT

For the previous several days, the bulls have successfully defended the 200-day simple moving average ($47,130), but they have been unable to push the price beyond the 20-day exponential moving average ($49,622). This indicates that there is a dearth of demand at the upper levels.

Daily chart of BTC/USDT. TradingView is the source of this information.

On Dec. 20, the bears dragged the price below the 200-day SMA, and if the price remains below this critical level, the selling might accelerate. The BTC/USDT pair is on the verge of striking the $42,000 to $39,600 strong support zone. The bulls are expected to defend this zone vehemently, although the rebound might be hampered by resistance around the 200-day SMA.

If the price climbs above the 20-day EMA and turns up from its present position, this bearish view will be invalidated. A move like this suggests that the break below the 200-day SMA was a bear trap. After that, the duo might increase to $52,000 before attempting a rally to $60,000.

ETH/USDT

For the previous several days, Ether (ETH) has been trading in a downward channel. On Dec. 13, a rebound off the channel’s support line failed to climb above the 20-day EMA ($4,058), suggesting that bears are selling rallies.

Daily chart of ETH/USDT. TradingView is the source of this information.

The 20-day exponential moving average (EMA) is downsloping, and the relative strength index (RSI) is below 43, indicating that the path of least resistance is to the downside. The ETH/USDT pair may drop to $3,643.73 and subsequently to the channel’s support line.

A big bounce off the support line might prolong the channel’s stay for a few more days. The bulls will next seek to drive the price above the channel once again. If they succeed, it means that the selling pressure is beginning to ease.

If the price falls below the channel, the bears may try to take out the 200-day SMA ($3,288). If the price breaks and closes below this level, the selling might become much more intense.

BNB/USDT

For the previous several days, buyers have successfully defended the 100-day SMA ($509), but they have been unable to push Binance Coin (BNB) above the 20-day EMA ($552). This shows that at larger levels, demand dries up.

Daily chart of the BNB/USDT currency pair. TradingView is the source of this information.

Bears have the upper hand, as seen by the downsloping 20-day EMA and the RSI in the negative zone. The BNB/USDT pair might drop below the 200-day SMA ($436) if the price breaks and stays below the 100-day SMA.

In contrast to this belief, if the price climbs above the 20-day EMA from its present level, it indicates that the bulls have absorbed the supply. This might set the stage for a rally to $617 and then to $669.30, which is the severe overhead barrier.

SOL/USDT

On Dec. 19, Solana (SOL) reversed from the 20-day EMA ($183), showing that bears are defending this level aggressively. A retest of $148.04 is probable if the price falls and stays below $167.88.

Daily chart of SOL/USDT. TradingView is the source of this information.

This is a key support to keep an eye on, as a break below it may send the SOL/USDT pair down below the 200-day SMA ($120). The 20-day EMA is downsloping, and the RSI is below 43, indicating that bears are in charge.

If the price rises from its present level and breaks above the 20-day EMA, this bearish outlook will be invalidated. Such a change might indicate that selling pressure is easing. After there, the pair might try a rally to $200, and eventually to $240.

ADA/USDT

In recent days, Cardano (ADA) has regularly rebounded off firm support around $1.18, but bulls have been unable to take the price over the 20-day EMA ($1.35). This indicates that there is a shortage of demand at higher levels.

Daily chart of the ADA/USDT currency pair. TradingView is the source of this information.

The bears will now try to push the market below $1.18 and keep it there. If they succeed, the ADA/USDT pair might fall below $1, which is important support. This level is expected to be vigorously defended by the bulls.

A break and closure above the 20-day EMA will be the first indicator of strength. This indicates that demand is greater than supply. The pair might advance to $1.47 before attempting a rally to the $1.87 overhead barrier.

XRP/USDT

For the previous three days, XRP has been trading between $0.75 and $0.85. Bulls lifted the price over $0.85 today, but the candlestick’s lengthy wick signals that bears are still selling on rallies.

Daily chart of XRP/USDT. TradingView is the source of this information.

The RSI has made a robust recovery from oversold levels, suggesting that the negative momentum is fading. This might keep the XRP/USDT pair trapped in the range for a few days longer.

The bulls will have beaten the bears if they can break and close above $0.85. This might boost the price to $1, a psychologically significant level. A break and closure below $0.75, on the other hand, might pave the way for a slide below $0.60.

LUNA/USDT

Terra’s LUNA token hit a new all-time high today, but the day’s candlestick has a lengthy wick, suggesting that short-term traders are taking gains at higher levels.

Daily chart of the LUNA/USDT pair. TradingView is the source of this information.

The bears will seek to drag the LUNA/USDT pair below the 20-day EMA ($64) if the price remains below $78.29. This is a critical support to watch since a strong recovery from it would indicate that traders are buying on dips and sentiment is still favorable.

The bulls will next attempt to push the price over the $78.29 to $81.87 overhead zone once again. If they succeed, the pair may begin to surge toward the psychological level of $100.

Bears pulling the price below the 20-day EMA, on the other hand, indicates that traders are leaving their holdings. This might push the price of the pair down to $50.

According to a study, 0.01 percent of Bitcoin owners control 27% of all circulating currencies.

AVAX/USDT

On December 14, Avalanche (AVAX) rallied off a solid support level of $75.50 and broke above the downtrend line on December 15. Bulls are striving to restart the upswing, as seen by this.

Daily chart of AVAX/USDT. TradingView is the source of this information.

However, after reaching the 61.8 percent Fibonacci retracement level of $119.69, the uptrend reversed, showing that bears are selling on rallies. At the 20-day EMA ($99), the AVAX/USDT pair has found key support.

If the price rises over the present level, purchasers will try to restart the upward trend. A break and closure above $119.69 might pave the way for a surge to $131.70, then to $147, the all-time high.

If the price breaks and holds below the 20-day EMA, the pair might fall below $75.50, which is a solid support level.

DOT/USDT

For the previous several days, Polkadot (DOT) has been trading below the 200-day SMA ($28.82). This indicates that bears are in charge. The sellers are aiming to lower the price below the strong support zone of $25 to $22.66.

Daily DOT/USDT chart. TradingView is the source of this information.

If they succeed, the DOT/USDT pair might continue to fall into the next support level at $16.81. The longer the price continues below the 200-day SMA, the more likely it is that the downtrend will continue.

If the price bounces off the present zone, the bulls will make another effort to push the pair over the 200-day SMA, contrary to popular belief. If they succeed, it will indicate that the bears’ grasp is slipping. After that, the pair might increase to $39.35.

DOGE/USDT

On Dec. 14, Dogecoin (DOGE) bounced off a solid support level of $0.15 and rocketed over the 20-day EMA ($0.18), although the candlestick’s lengthy wick indicates that traders sold at higher levels.

Daily chart of DOGE/USDT. TradingView is the source of this information.

On December 15, the bears dragged the stock down below the 20-day EMA. The aggressive bulls may have been cornered and forced to liquidate their position as a result. This has dragged the price down below $0.15, which is a significant support level.

If the price breaks and closes below this level, it may be dragged to the December 4 low of $0.13. If this support breaks, the DOGE/USDT pair might fall below $0.10, which is a psychological threshold. If the price rises above the present level, the bulls will try to break through the overhead barrier at the 20-day EMA and $0.19.

The author’s thoughts and opinions are purely his or her own and do not necessarily represent those of Cointelegraph. Every investing and trading decision has some level of risk. When making a choice, you should do your own research.

HitBTC exchange provides market statistics.

Watch This Video-

The “why is eth dropping” is a question that has been asked many times. There are many factors that can cause the price to drop, and it’s hard to pinpoint one specific reason.

Related Tags

• ethereum price
• ada eth sol
• bitcoin price
• xrp cointelegraph
• eth double top

The “binance singapore” is a cryptocurrency exchange that was founded in China. They have recently announced that they are leaving Singapore for unknown reasons.

Binance, the world’s largest centralized crypto exchange, stated last week that it had withdrawn its licensing application and would be closing its Singapore operations. 

The exchange asserted at the time that their decision was influenced by its recent purchase of HGX. According to a recent Bloomberg article, the CZ-led exchange withdrew its application for a very different reason than it claimed.

Why is Binance leaving Singapore?

Binance withdrew its licence application owing to a failure to comply with Singapore’s anti-money laundering standards, according to Bloomberg. The Monetary Authority of Singapore, the country’s regulator, sets the guidelines (MAS).

In part, the study states, “The Monetary Authority of Singapore (MAS) permits applicants to withdraw rather than face an explicit regulatory rejection.”

Binance, on the other hand, has said that it is leaving the Asian nation because of a recent “significant investment” in HGX. According to a representative for the company, the crypto exchange has worked with the Singapore Police Force to battle ransomware, hacks, and scams, as well as money laundering and terrorist funding.

You may remember that Binance advised its customers in the area to remove their assets to alternate platforms by February 13, 2022, or risk losing their cash.

Singapore’s crypto rules are one of the most stringent in the world.

Because of the substantial dangers connected with cryptocurrency, Singapore’s regulators have imposed rigorous regulatory criteria for the registration of crypto exchanges in the nation.

Ravi Menon, the Managing Director of the Singapore Monetary Authority, has underlined the significant demand for crypto license.

According to publicly accessible data, 100 of the firms who filed for a crypto licensing authorization were compelled to withdraw their applications owing to their inability to fulfill the stringent requirements. 

Singapore has only authorized applications from four entities as of press time, including the brokerage subsidiary of DBS Group Holdings Ltd. and Independent Reserve.

Newsletter

The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.

Gain a competitive advantage in the cryptoasset market.

As a premium Edge member, you’ll get additional crypto insights and context in every story.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

Watch This Video-

The “binance singapore vs binance” is a topic that has been trending in the cryptocurrency space. The Binance exchange left Singapore for some unknown reason, but the company is not saying why.

Related Tags

• is binance legal in singapore
• singapore warns binance
• binance singapore withdrawal
• binance singapore (mas)
• binance singapore location

By monetary value, the Bitcoin network now handles more transactions than Paypal, and the world’s biggest decentralized cryptocurrency network by market cap might overtake Mastercard by 2026.

When may the Bitcoin network handle quantities like Mastercard and Visa?, according to a research published on November 25 by industry intelligence platform Blockdata. According to the report, the Bitcoin network handled $489 billion every quarter in 2021, which is more than the $302 billion processed by Paypal. Bitcoin handles around 27% of Mastercard’s $1.8 trillion every quarter and 15% of Visa’s $3.2 trillion after just 12 years in existence.

The total number of transactions, the average amount of Bitcoin transmitted each transaction, and the growth in the price of Bitcoin are all variables that might propel the Bitcoin network to the level of the two credit card behemoths in terms of total volume handled (BTC).

The first element, the total number of transactions, is the most reliant on variables. “If Bitcoin increased its value transmitted each transaction today by 260 percent, it would handle a comparable volume to Mastercard on a daily basis,” according to the theory.

The research, however, was unable to locate recent statistics demonstrating that the average amount of Bitcoin transmitted every transaction is increasing. Although the trend may alter in the future, a price increase of $245,000 at present volume would bring Bitcoin to parity with Mastercard. According to some experts, this price movement is more plausible than an increase in volume.

Blockdata concludes that the price of Bitcoin is unlikely to rise to the level required to match Mastercard. It may take till 2060 if one considers the average annual Bitcoin price. “Taking the present growth rate in 2021 as a yardstick, it might happen as soon as 2026,” says the report.

Despite BTC ‘probably’ not reaching $98K in 5 days, Bitcoin bulls have a lot to be happy for.

Despite its youth, the decentralized Bitcoin network has managed to attain significant volumes when compared to the two centralized credit card giants, according to the research.

“It’s astonishing that Bitcoin, a 12-year-old decentralized network, is 27 percent of the way to Mastercard, a firm created in 1966, in terms of volume handled.”

Watch This Video-

The “how to send bitcoin on cash app to another wallet” is a tutorial that will show you how to send BTC using the Cash App.

Block, previously known as Square, has announced that Cash App users will be able to give bitcoin and stock to friends and family throughout the Christmas season.

Cash App stated in a Tuesday tweet that its customers, who number about 40 million monthly, could give as little as $1 in Bitcoin (BTC) or stock as a gift in the same way they might send cash. The payments company joins the likes of PayPal and Coinbase in enabling customers to transmit bitcoin to other parties as payments or gifts.

You may now transmit as low as $1 in stock or bitcoin using Cash App. You don’t need to own stock or bitcoin to give it, and it’s as simple as transferring cash. So, instead of buying aromatic candles or a novelty beach towel this holiday season, assist your relative in beginning to invest. pic.twitter.com/HS0CqusiLS

December 14, 2021 — Cash App (@CashApp)

According to Cointelegraph, a research by loan business BlockFi found that many Americans would accept cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE) as presents this Christmas season. The same study, however, found that the majority of respondents lacked the ability to transfer cryptocurrency. Many critics believe that distributing BTC to beginners is one of the reasons why so many coins have gone missing since 2009.

Related: Are you giving cryptocurrency as a gift this holiday season? First and foremost, educate them.

Other charities are collecting cryptocurrency contributions to aid people in need during the holidays. Unbanked, a fintech company, said earlier this month that it will accept crypto contributions for Presents for Tots, a US Marine Corps program that collects toys for distribution to underprivileged children. Furthermore, sites like as the Giving Block enable non-profits and charities to receive cryptocurrency contributions.

Watch This Video-

The “cash app btc fees” is the fee that users pay when they send BTC to their friends through Cash App. The block, formerly Square, will allow users to gift BTC for the holidays using Cash App.

Related Tags

• how to withdraw bitcoin on cash app
• cash app ethereum
• how to sell bitcoin on cash app
• cash app bitcoin fees 2021
• cash app bitcoin fee calculator

The “new crypto regulations” is a new law that will come into effect in Odisha, India. The “new crypto regulations” are meant to protect investors from fraud and ensure transparency in the market.

Many businesses may benefit from blockchain technology, with the financial industry being one of the most noteworthy examples. It has the potential to have an even bigger effect in poor nations, where blockchain-enhanced fintech may assist the world’s 1.7 billion unbanked individuals get access to financial services including peer-to-peer loans, alternative currency payments, and investments.

This is why, despite the majority of the original wave of bitcoin influencers, including as Erik Voorhees, Charlie Lee, Tim Draper, Andreas Antonopoulos, and others, are from first-world Western nations, some of the technology’s most influential thought leaders come from underdeveloped countries.

Odia refers to people from Odisha, a state in the Indian subcontinent, and four of the most well-known supporters of blockchain technology are Odia. Odisha has generated four pioneering adventures, connected by both geographic origin and their distinct obstacles in the IT sector, despite being one of the poorest states in the nation. These individuals, in particular, are making their impact in the world of blockchain, at a moment when disruptive technology is at its most thrilling.

MAS’s Chief Fintech Officer, Mohanty, Sopnendu (the Monetary Authority of Singapore)

Sopnendu Mohanty

Sopnendu Mohanty began his career in the information technology field in 1995, after earning a Bachelor’s and Master’s degree in information science. He relocated to Japan in 1997 to work for Citigroup’s product and services development business. He stayed with Citigroup for 18 years, rising through the ranks to become Head of Citigroup’s Asia Pacific Branch Operations and then Head of Citigroup’s Global Consumer Lab.

Sopnendu Mohanty left Citigroup in 2015 to become Chief Financial Officer of the Singapore government-run Monetary Authority of Singapore (MAS). He has contributed to Singapore’s growth as one of the world’s top fintech centres while at MAS.

Sopnendu is an ardent speaker and worldwide thought leader in fintech, as well as a vocal advocate for a faster transition to a digital blockchain-based economy, in addition to his role at MAS.

“By design, a distributed ledger removes the whole difficulty of settling and verifying things. “It also enables certain business rules to be put into use cases – the payment process, the settlement process, the underlying business rules can all be encoded into a single stream,” Sopnendu Mohanty said.

“In today’s world, there are two distinct processes. There’s a method for paying each other, and there’s a process for exchanging products and services. These two procedures are combined into a single process in which you are not only paying each other but also guaranteeing that products and services are traded at the time of payment using blockchain digital money.”

The MAS gave DBS Vickers, a subsidiary of DBS Bank, Southeast Asia’s biggest bank, a license to formally provide bitcoin services in September 2021.

“This is a natural evolution in any invention,” Sopnendu Mohanty said, “and there has been a very evident rising interest in digital assets.”

“Banks are constantly being pushed out of their comfy conventional financial domain by fintechs. DBS thinking about new areas where they may provide value and build a new service is really promising to us. This is a true testament to the fintech sector’s maturity in Singapore. We don’t see a distinction between fintechs and banks here. Both are complementary; they complement one other and collaborate.”

Merkle Science’s CEO and Co-Founder, Mriganka Pattnaik (Mriganka Pattnaik)

Mriganka Pattnaik

Mriganka Pattnaik, who hails from the historic city of Bhubaneswar in Odisha, began his fintech career with multiple internships even before completing his technology Bachelor’s degree from ITT Guwahati in 2013. Mriganka moved directly to work as an analyst at Bank of America’s Mumbai unit after graduation.

He left two years later to start Datatrix Healthcare Technologies, a startup that let customers purchase medicine and home diagnostic testing from pharmacies near them.

“I saw an opportunity to fill a need, and I still feel that entrepreneurship is the most direct method to close these gaps,” Pattnaik said.

“Unfortunately, there was a lot of regulatory uncertainty in the internet pharmacy space.” It was difficult to get a complete understanding of the danger situation. This experience taught me how regulatory uncertainty may stifle innovation and harm early-stage businesses. Following that, in 2016, I relocated to Singapore to work at Luno, a well-known cryptocurrency exchange, where I supported strategy and country-specific execution across three continents.”

During his tenure at Luno, he saw firsthand the regulatory hurdles that digital asset enterprises confront in a variety of countries, as well as the critical role that regulations play in the industry’s health and long-term development. He then enrolled in the Entrepreneur First startup accelerator, where he met Nirmal Aryath Koroth, with whom he co-founded Merkle Science in 2018.

Merkle Science is a risk and intelligence platform that assists businesses and government agencies in detecting, investigating, and preventing unlawful cryptocurrency activity.

“As the popularity of blockchain and cryptocurrencies grew, more financial institutions, retail platforms, and governments began to use the technology. Unfortunately, as the number of lawful use cases grows, so does the number of illegitimate uses,” Pattnaik warned. “It’s predicted that more than 12 billion dollars worth of cryptocurrency was engaged in criminal activities in 2020 alone.”

“Unsurprisingly, several governments across the globe have responded by enacting new rules and regulations governing the operation of bitcoin enterprises.” The goal of these new restrictions is to reduce the risk associated with cryptocurrencies. Companies, on the other hand, are finding it difficult to operate with cryptocurrencies as a result of these new rules and regulations, and they are unsure how to comply. These new regulations need the development of new-age solutions, which is where Merkle Science comes in. “We’ve created a set of solutions that take use of the blockchain’s transparent and traceable characteristics to assist companies in identifying and protecting themselves against illicit usage,” Pattnaik said.

Bestselling Blockchain Author Debajani Mohanty is a Debajani Mohanty is a Deb

Debajani Mohanty

Debajani Mohanty is the bestselling author of five blockchain books and was named one of the top 30 Blockchain influencers in India by Singapore Fintech News and one of the top 100 blockchain social influencers in the world by Piktale Awards. She was born in the coastal state of Odisha and studied Electronics and Telecommunications Engineering at Sambalpur University before embarking on a 24-year career (and counting) designing software solutions for Indian and, since 2020, English firms.

She began working with blockchain in 2017 and has since worked in development utilizing a variety of blockchain technologies. “Blockchain’s whole potential has yet to be realized,” Debajani Mohanty said. “Much more focused investigation is required.”

Debajani Mohanty’s writings span from broad blockchain overviews for newcomers to the field, such as her five-star books “Blockchain for Self Sovereign Digital Identity” and “Ethereum for Architects and Developers,” to in-depth courses on R3 Corda, Ripple, and Ethereum. She’s also the author of “The Curse of Damini,” a story on women’s empowerment for which Nobel Peace Prize recipient Kailash Satyarthi awarded her the Arya award.

She has endeavored to share her expertise via books, blogs, videos, and live sessions at several blockchain summits in India and overseas since the beginning of her blockchain career. “Propagating information, particularly to company executives and decision-makers, is the need of the hour,” she says, “since they have the power to take this blockchain journey to the next level.”

CBDC, Decentralized Identity, and the enforcement of data acts (GDPR, CCPA, PDPA, etc.) in managing personal data are predicted to be the next key developments in blockchain, according to Debajani Mohanty.

MRHB DeFi’s CEO and Founder, Mohammed Naquib

Naquib Mohammed

Naquib Mohammed, a native of Cuttack, studied information technology at Bhubaneswar’s Kalinga Institute of Industrial Technology. He then worked for firms all around the world for more than a decade in information technology, first as a software engineer and subsequently as a business architect.

“After spending a few years understanding and working on commercial use cases of distributed ledger technology during the bull run of late 2019, my interest in cryptocurrencies truly began to grow serious,” said Naquib Mohammed.

“Researching the rising IT sector as an enterprise architect was a logical path, and here is where I discovered blockchain as an integral aspect of Industry 4.0 technology.”

Mohammed was invited to Australia in 2020 as a “Distinguished Global Fintech Talent” by the Australian government. He went headlong into blockchain technology there, studying and learning the subject for 7-8 hours a day.

“Within a six-month period, I completed over 15 certifications in various aspects of blockchain.”

He chose to build his own pioneering decentralized financial firm, MRHB (pronounced Marhaba) DeFi, in April of 2021, after working at another startup. This aimed to address what he saw as a significant gap in the crypto realm, which he believed was excluding many populations owing to their religion (in particular, his own as a Muslim), lack of access, and technical sophistication. The Islamic Finance business, which is presently valued over $3 trillion USD, demonstrates the desire for financial services that are compatible with religion beliefs.

Mohammed also wanted to establish a more empowering, ethical, and community-focused initiative that would appeal to individuals new to cryptocurrency and counter the poor image produced by widespread fraud, danger, and opacity in the industry. As a result, he intends to develop a more ethical and inclusive initiative that helps people of all faiths.

“Because our network is built on extremely high ethical standards, one of our product offers is a crypto-based contributions platform called DePhi, a decentralized philanthropy protocol that will be released in Phase 2.” We really aim to attract investors from all walks of life who are interested in ensuring that their investments have a social effect in addition to profiting from the cryptoverse’s riches prospects,” Mohammed stated.

“By addressing the emerging crypto economy from the outset with a more ethical mindset, we can all contribute to a more egalitarian and inclusive future for everybody.”

MRHB DeFi is a groundbreaking initiative in the DeFi ecosystem, since it is the first to target the USD 3 trillion Islamic Finance ecosystem and other underserved areas. It is also funded by Polygon Technology. Polygon, a well-known Layer-2 blockchain, is assisting in the construction of the first dApp focused on Islamic and ethical banking.

These blockchain personalities are an inspiration to people all over the world who want to be involved in the revolutionary technology, with their blockchain stories impacting a variety of industries and use-cases, from regulations, compliance, intelligence gathering, and security to education, ethics, inclusion, and philanthropy.

We will surely see more expert representation from all around the world as the blockchain and decentralized financial movements spread throughout the globe. Hopefully, blockchain inventors and business founders from developing nations will have a lot of success, since here is where the technology can do the greatest benefit for society. In the domains of blockchain and cryptocurrency, financial services such as zero-fee payments and transactions, peer-to-peer lending, and all manner of banking activities for excluded populations are feasible.

All that is required now is for more pioneers to come forward and embrace the chance.

Newsletter

The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.

Gain a competitive advantage in the cryptoasset market.

As a premium Edge member, you’ll get additional crypto insights and context in every story.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

Watch This Video-

The “cro and ufc” is a story about four inspiring blockchain journeys and stories from Odisha, India. The article discusses the positive impact of blockchain technology on society.

Related Tags

• israel dogecoin
• alchemy and polygon
• xrp use case
• ufc cryptocurrency
• bitcoin price shock

“Fintech” is a term that has been used in the past to describe the financial industry. It’s primarily used to refer to new technologies and innovations that are changing how people use money. The French fintech startup Lydia raised $100 million in Series C funding round. Read more in detail here: what is fintech.

According to TechCrunch, the French crypto-friendly financial business Lydia has acquired $100 million in a Series C fundraising round. 

Lydia is said to have achieved unicorn status, with a value of over $1 billion, thanks to the most recent capital round. 

The $100 million round comes almost a year after the company’s $86 million Series B fundraising round in December 2020.

Dragoneer and Echo Street also participated in the round, which was headed by investors Tencent and Accel. The finance business intends to utilize the new funding to extend its presence across Europe. By 2025, the company expects to have onboarded 10 million Europeans.

Lydia did not immediately react to a request for comment from Cointelegraph.

The software began as a peer-to-peer mobile payment app, but it has now evolved to include cashback and personal loans. In collaboration with Australian crypto exchange Bitpanda, the business just debuted its stock and cryptocurrency trading services. In terms of functionality, the fintech software is comparable to Cash App or Venmo, and it presently has 5.5 million users.

PayPal will begin accepting cryptocurrency payments for merchants, with limited trading on Venmo.

Fintech and mobile trading applications have benefited the most from the rise in popularity of cryptocurrency payments in recent years. PayPal, Robinhood, and Venmo, among other mobile payment titans and fintech trading applications, have opened the doors to crypto payments for millions of consumers and merchants.

Mainstream mobile payment service providers have already jumped on the crypto bandwagon, and now even local payment processors are hoping to cash in on the trend. Paytm, an Indian mobile payment processor, has indicated interest in crypto payments after the government clarified restrictions.

Watch This Video-