Browsing:Blockchain News

S. Korea's Move to Enhance Crypto Monitoring in H1 2023
1 year ago 1 min read

South Korea Implements Crypto Tracking System in 2023

The South Korean Ministry of Justice has announced plans to adopt a cryptocurrency tracking system in the first half of 2023 to combat money laundering and recover criminal proceeds. The system will monitor crypto transactions and help uncover illegal funds. The Ministry also intends to develop its own crypto tracking and analysis system in the latter half of the year, but has not disclosed the name of the tracking system. The Supreme Prosecutors’ Office in South Korea is also procuring a cryptocurrency tracking system. The National Police Agency has also signed an agreement with the country’s five major cryptocurrency exchanges

Montenegro
1 year ago 1 min read

Montenegro Adopts Ripple’s Innovative Digital Currency

Montenegro Prime Minister Dr. Dritan Abazović reported on his meeting with Ripple’s CEO Brad Garlinghouse and VP for Central Bank Engagement and CBDCs James Wallis. The meeting was focused on developing a payment infrastructure for greater financial accessibility and inclusion in Montenegro. The country is working with Ripple and the Central Bank on a pilot project to build the first digital currency/stablecoin for Montenegro. Partner at American law firm Hogan & Hogan, Jeremy Hogan, explained the possibility of a CBDC being issued on the XRP Ledger or used as a stablecoin in interaction with the XRP Ledger for fast, cheap

California DMV gets into blockchain
1 year ago 1 min read

California DMV Implements Blockchain for Secure Record Management

The Department of Motor Vehicles (DMV) in California is set to use blockchain technology for record keeping, including the issuance of car ownership and the simplification of transfers of such ownership. The DMV is working with a private fork of the Tezos blockchain, an open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts. The move is part of a collaboration between the California DMV, Tezos, and blockchain software firm Oxhead Alpha, which announced the successful completion of a proof-of-concept blockchain-based vehicle titling solution on January 25. Ajay Gupta, the chief digital officer at

Fluidity DeFi
1 year ago 1 min read

Fluidity Introduces a Fair Rewards System for True DeFi Participants

A new project named Fluidity aims to change the way crypto coins are handed out for different projects. Instead of rewarding mercenary farmers, Fluidity wants to pay people for actually using a protocol. The project works by allowing users to deposit a stablecoin into the Fluidity protocol and receive a Fluidity-wrapped token (fToken) in return. The stablecoin is then deposited into a yield-earning protocol like Aave or Compound, and the fToken can be used to buy NFTs, make simple transfers, or join liquidity pools. The more the fToken is used, the higher the chances of winning a payout, which is

The International Swaps and Derivatives Association (ISDA)
1 year ago 1 min read

ISDA publishes standard terminology for digital asset derivatives

The International Swaps and Derivatives Association (ISDA) is developing two papers to address legal risks in the crypto market, such as the insolvency of crypto exchange firms. The papers will offer guidance for market participants on crypto ownership and the role of intermediates in the event of bankruptcy. The initiative was prompted by the collapse of crypto exchange FTX and previous bankruptcy cases that have raised concerns about liquidity and solvency across the crypto ecosystem. The papers will also address issues related to customers’ digital assets held with intermediaries and how they may be treated in an insolvency scenario, and

88x Finance and Axelar Network join forces
1 year ago 1 min read

88x Finance teams up with Axelar Network to launch cross-chain yield aggregator

Web3 startups are using the current crypto bear market as an opportunity to build solutions and infrastructure that will be ready for the next wave of adoption. One such startup, 88x Finance, is a cross-chain yield aggregator that aims to provide services to both retail and professional investors. The protocol is participating in the Axelar Ecosystem Startup Funding Program, a $60 million startup funding program dedicated to accelerating Web3 protocols. Yield aggregators use smart contracts to invest crypto assets in yield-paying products and services through automated strategies, similar to having a fund manager in charge of a crypto portfolio. As

DeFi lending platform Aave is set to launch the 3rd version
1 year ago 1 min read

Aave launches version 3 of its lending protocol on Ethereum

Decentralized finance (DeFi) lending platform Aave is set to launch the third version of its lending protocol, Aave v3, on Ethereum after a successful vote by the platform’s DAO (Decentralized Autonomous Organization). Aave v3 on Ethereum will support seven assets: wrapped bitcoin, wrapped ether, wrapped staked ether, USDC, DAI, link, and Aave. The asset selection was proposed by DeFi risk manager Chaos Labs and approved by the Aave DAO in January. The pricing for all assets, except wrapped bitcoin and wrapped staked ether, will come directly from a Chainlink feed, an oracle protocol that can provide data such as price

Uniswap has announced that its proposal to deploy its V3 version
1 year ago 1 min read

Uniswap V3 to take on PancakeSwap in the DeFi space

Uniswap, a decentralized exchange platform, has announced that its proposal to deploy its V3 version on the Binance Smart Chain (BSC) has passed a “temperature check” vote with 80% in favor. The proposal, which was first published on January 17th, highlighted the reasons for the proposed deployment on the Binance Smart Chain including the growing user base and high transaction speeds and low fees. This move could pose a significant threat to PancakeSwap’s dominance on the network as it currently holds a 49.39% share of the total value locked on the Binance Smart Chain. Uniswap V3 was launched almost a

Index Coop
1 year ago 1 min read

Index Coop introduces new staked Ethereum index for those interested in LSD-Curious

Index Coop has launched a new structured product that will give investors exposure to the top liquid staking derivative (LSD) tokens on the market. Called the Diversified Staked ETH Index (dsETH), the product offers exposure to Lido Finance’s stETH, Rocketpool’s rETH, and Stakewise’s sETH2 tokens. These tokens are yield-bearing assets for investors that have staked their ETH holdings and can be used elsewhere to earn additional yield in DeFi. They are especially popular because they let investors stake less than the required 32 ETH needed to participate if they were to stake directly to Ethereum. The idea behind getting all

Aave community to vote on deploying version 3 on Ethereum
1 year ago 1 min read

Aave community to vote on version 3 launch on Ethereum

Aave Protocol is voting to execute its third iteration, or v3, on the Ethereum blockchain, a critical moment for the decentralized finance (DeFi) community, which hopes to benefit from v3’s focus on risk management and capital efficiency. Aave’s Twitter account is calling v3 the “most significant upgrade to the Aave Protocol” since it launched in January 2017. The vote ends Jan. 25, 2023, at 18:58 UTC. If the proposal passes, the deployment will execute on Friday, Jan. 27. Aimed at improving user experience, risk management, and capital efficiency, v3 on Ethereum comes as Aave leads the charge as the largest

Ethereum developers have created a shadow fork
1 year ago 1 min read

Ethereum Creates ‘Shadow Fork’ to Evaluate Ether Withdrawal Environment

As the Ethereum Shanghai upgrade approaches, developers have created a shadow fork, or testnet, to see if the upgrade can prevent malicious attacks. This testnet, called “Withdrawal-Mainnet-Shadow-Fork-1,” is intended to test the conditions needed for Ether withdrawals, which are currently disabled but are intended to become enabled in the update. The creation of this testnet comes after devs have expressed an increasing urgency to make Ether staking withdrawals a reality and after they decided to exclude the proposed EVM Object Format (EOF) from the Shanghai upgrade due to its complexity. Over 14.5 million ETH (over $23 billion worth at the

Cité Gestion private bank
1 year ago 1 min read

Cité Gestion: The First Private Bank to Embrace Tokenization of Shares

Cité Gestion, an independent Swiss private bank, is using Taurus technology to tokenize its own shares, becoming the first private bank to issue shares as ledger-based securities under Swiss law. The bank will partner with digital assets firm Taurus to issue its tokenized shares, as well as manage the smart contract that creates the shares and perform asset servicing of its securities. Tokenization, or the digitization of various asset classes, has been a popular trend among financial institutions as it allows them to attract more investors by using blockchain technology. This move follows similar moves by other financial institutions such

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