Prime Minister Narendra Modi on Monday speaking at the World Economic Forum’s Davos Agenda 2022 virtual event, called for aggregate and synchronized worldwide activity concerning policymaking for blockchain-supported cryptocurrency.

This issue has reappeared at a time, when the Budget Session of Parliament is set to start from January 31 and the assumption is that the public authority will attempt again to pass a regulation on crypto.

Lecturing at the World Economic Forum’s Davos Agenda 2022 virtual occasion, the Prime Minister noticed that

“The challenges we have been facing are also increasing. To counter these, there is a need for collective and synchronized action by every country, every global agency. These supply chain disruptions, inflation, and climate change are examples of these. Another example is a cryptocurrency,”

Read Continue

Brazil’s Hashdex to Launch DeFi exchange traded fund

Brazil’s Hashdex, Crypto asset manager, reported on January 18 that it has gotten approval to launch the “world’s first” exchange-traded fund (ETF) following 12 decentralized finance (DeFi) tokens.

The company said that the product will be recorded on the Brazilian stock trade B3 as of February, adding that hold requests…

PayPal may launch stable coin PayPal coins

Payment processor PayPal has been making inroads into the cryptocurrency market. In 2020, it has allowed people to buy and sell cryptocurrencies, but it is only available to Americans. The company is exploring options for creating a stablecoin, according to PayPal’s senior vice president of crypto and digital currencies Jose Fernandez da Ponte, in a statement to Bloomberg.

In general, stablecoins are more reliable than other digital currencies, because their value is tied to a reserve currency like the dollar or rupee. A stablecoin is a cryptocurrency whose value is tied to a commodity or currency that is more stable. Bitcoin, for example, could be worth $47,000 one week and roughly $42,000 the next; whereas stablecoins will still be the same the following week.

View full article

Republic of Palau announced partnership with Cryptic Labs
Republic of Palau announced partnership with Cryptic Labs

On the Tuesday Republic of Palau announced a partnership with blockchain development firm Cryptic Labs to launch a sovereign-backed digital residency program using Root Name System (RNS).

Palau’s President Surangel S. Whipps Jr. signed a contract to allow all global citizens to claim digital residency using the RNS under the country’s Digital Residency Act into law on December 22. This enables them to get some of the perks of residency on the island nation of 18,000 people without physically living there. The Republic of Palau comprises 340 islands inhabited by 18,221 residents in the western Pacific Ocean.

Digital residency is a blockchain-based legal ID, digital residency democratizing access to global business opportunities, and a geo-agnostic governance system enabling remote corporate formation and operation. In addition, users can verify their addresses, shipping services, and digital signatures.

View full article

source image — screenshort of official launch video

On 4th January 2022 Enjin, a top Polkadot project has announced via Twitter that it is launching its new headquarters in the Bloktopia metaverse.

This new space is intended to flaunt its developing NFT ecosystem and tasks. As an ever-increasing number of associations fill the metaverse, it is quickly becoming stylish to have a committed office in the virtual world. Disregard remote working, virtual working could be a key feature of 2022.

In 2021, Enjin’s Efinity has won Polkadot’s 6th and the last para chain launch with a commitment of more than $214 million in DOT. Efinity is Enjins versatile, decentralized, and cross-chain NFT foundation. To grow its quality in the NFT markets, Enjin is presently situating itself close to other crypto brands that have set up homes in the metaverse.

View more..

Crypto Business World

Fintech , Blockchain, Crypto NEws, Blockchain and Defi and CryptoCurrency Market News on daily Basis

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store