Ujunwa Juliet Ihiasota
I am a dedicated crypto and blockchain content writer who is vision-oriented, diligent, smart, and self-motivated. I have over a decade of self-writing experience and five years of experience as a professional writer. I hope to inspire other women into this ever-evolving field.
Articles by Ujunwa Juliet Ihiasota
1 year ago
1 min read
Interbank messaging company SWIFT has announced that its project to interconnect central bank digital currencies (CBDCs) has shown “clear potential and value.” The project, which involved several banks such as BNP Paribas, Intesa San Paolo, and Standard Chartered, as well as French and Singaporean central banks, will now proceed to a second phase. During the second phase, SWIFT will conduct beta testing and explore further applications such as conditional payments, trade finance, and securities settlement. The move comes amid a growing interest in CBDCs, with countries like The Bahamas and Nigeria already issuing digital versions of their national currency, while
1 year ago
1 min read
WeChat Pay, one of China’s most popular apps, has now integrated the digital yuan app for faster and more convenient payments. This integration is expected to help drive the adoption of the central bank digital currency (CBDC) in the country. As reported by the Global Times, WeChat Pay now directly supports the digital yuan app, allowing users to make payments with their CBDC wallets in WeChat’s mini-programs. While there is currently a transaction limit of 2,000 yuan or $289, the daily limit is set at 5,000 yuan or $720. However, the app is expected to add more use cases and
1 year ago
1 min read
According to a recent report by the Wall Street Journal (WSJ), crypto exchange Binance had attempted to hire Gary Gensler, the current chairman of the United States Securities and Exchange Commission (SEC), as an adviser in 2018 and 2019. Gensler, who was then teaching at the Massachusetts Institute of Technology, was approached by Binance’s executives, including Ella Zhang, then head of Binance’s venture investing arm, and Harry Zhou, co-founder of Binance-invested firm Koi Trading. Despite declining the adviser position, messages from Binance’s executives suggest that Gensler was generous in sharing license strategies. The report also highlights the relationship between Binance
1 year ago
1 min read
Central Bank Digital Currencies (CBDCs) have been gaining traction globally, with central banks exploring the potential of issuing their own digital currencies. The Reserve Bank of Australia (RBA) is the latest central bank to jump on the CBDC bandwagon, with plans to launch a “live pilot” of its CBDC. A CBDC is a digital currency that is issued and backed by a central bank, designed to function as a digital equivalent of physical cash. CBDCs are seen as a potential solution to the challenges posed by traditional payment systems, such as slow transaction times and high transaction fees. The RBA’s
1 year ago
1 min read
Solana, a popular blockchain network, is taking steps to improve its network reliability following a significant outage that occurred on February 25. This outage lasted close to 20 hours and was the first interruption of service to occur in 2022. However, the network has faced 11 major outages and 3 minor ones, leading to a reputation for poor network reliability. Anatoly Yakovenko, co-founder of Solana, stated that last week’s outage was related to the 1.14 network update, which was meant to bring speed and scale improvements. However, the rollout of the update triggered significant network degradation, and the cause is
1 year ago
1 min read
Frax Finance, a decentralized finance stablecoin protocol, has announced that it will fully collateralize its native stablecoin, Frax (FRAX), ending the algorithmic backing of the protocol. The FIP-188 governance proposal, posted on February 15, has now reached a quorum with 98% voting in favor, according to a snapshot on February 23. The initial protocol included a “variable collateral ratio” that adjusted based on the market demand of the stablecoin. The hybrid model resulted in the stablecoin being 80% backed by crypto asset collateral and partially stabilized algorithmically. The new proposal plans to retain protocol revenue to fund the increased collateral
1 year ago
1 min read
The Australian blockchain gaming company Immutable has made its second round of layoffs, cutting 11% of its staff. According to the Sydney Morning Herald, CEO James Ferguson explained that the cuts were necessary to extend the company’s runway and concentrate on the most important projects. The changes will involve outsourcing the development of more traditional game aspects to partners and reorganizing some of its divisions. The developer, known for its blockchain trading card game Gods Unchained, had previously laid off over 20 employees, or about 8% of its total headcount in July 2022. Immutable is a pioneer in blockchain and
1 year ago
1 min read
Paxos, the stablecoin issuer, is reportedly engaged in constructive discussions with the US Securities and Exchange Commission (SEC), according to CEO Charles Cascarilla. This follows Paxos’ acknowledgment of receiving a Wells Notice from the SEC, which is used to flag possible violations of federal securities law and can indicate an intention to sue. The Wells Notice was specifically tied to Paxos’ issuance of Binance USD (BUSD), a stablecoin product. However, the company’s own stablecoin product, Pax Dollar (USDP), was not included in the notice. In response, Paxos has already stated that it will stop issuing BUSD after receiving a notice
1 year ago
1 min read
OpenSea, the leading NFT marketplace, has announced a set of changes to its fee and royalty structure. These changes will have a significant impact on user activity, including that of collectors and creators. OpenSea tweeted on Friday, February 17, that it would be implementing a 0% transaction fee policy, albeit only for a limited time. Previously, OpenSea had charged a 2.5% trade levy that formed a substantial part of its revenue. In conjunction with this announcement, OpenSea also tweeted that it would be employing an “optional creator earnings,” mandating collectors to pay only a 0.5% royalty fee on all new
1 year ago
1 min read
Binance is preparing to face regulatory fines and penalties to settle outstanding investigations by regulatory and law enforcement authorities in the US. The company’s Chief Strategy Officer, Patrick Hillmann, recently confirmed that Binance is working with regulators to remedy past compliance issues. While the outcome of the ongoing investigations remains uncertain, Hillmann stated that regulators will most likely impose fines, which could be more significant. Binance has been under investigation by US authorities for several years, including the Department of Justice, the Commodity Futures Trading Commission, and the Securities and Exchange Commission. These investigations relate to potential violations of anti-money
1 year ago
1 min read
Digital Currency Group (DCG), the parent company of failed crypto broker Genesis Global Capital, has announced a restructuring plan aimed at raising capital to repay creditors. In recent court filings, the company revealed that it intends to transfer equity in Genesis Global Trading to Genesis Global Holdco and eventually sell both companies to pay back creditors. Genesis Global Capital and Genesis Global Holdco both filed for Chapter 11 bankruptcy protection from creditors last month. Despite this, the company remains optimistic about the future. “Genesis today moved a step closer to a resolution for our lending business that maximizes value for
1 year ago
1 min read
The sudden interest in artificial intelligence (AI) chatbots has caused a surge in crypto assets in the AI and big data space. Major tech companies like Microsoft and Google have driven the market with their own chatbots and AI-powered search engines. Leading the charge is Big Data Protocol (BDP), which has experienced a 1,400% rally in the last week, trading around $0.48, according to CoinGecko data. Other notable gainers in the AI and data intelligence space include SingularityDAO (SDAO), SingularityNET (AGIX), Fetch.ai (FET), Measurable Data (MDT), Matrix AI Network (MAN), DeepBrain Chain (DBC), Oraichain (ORAI), and Vectorspace AI (VXV), with
