HyperCycle was founded in October 2022 following discussions between CEO Toufi Saliba and Ben Goertzel, founder of SingularityNet, at the global AGI summit in 2021. The company focuses on developing a General Purpose Technology supporting a decentralized network for AI-to-AI communication, designed to scale with the worldwide demand for AI consumption. Leveraging technologies such as […]
Bitcoin News
Global AI Revolution: WorkML.ai Hub and WML Token
PRESS RELEASE. WorkML.ai is developing a revolutionary platform that will harness the potential of hundreds of thousands of annotators from around the globe. Through comprehensive training programs, WorkML.ai aims to qualify annotators to produce high-quality Metadata, essential for enhancing AI models. Annotators will be compensated in WML tokens for their contributions, creating a dynamic ecosystem. […]
Bitcoin News
Get Ready For A Bitcoin Cash Revolution: Analyst Forecasts Historic Breakout
Bitcoin Cash (BCH) is stirring excitement in the cryptocurrency community after respected analyst Rekt Capital posted a potentially game-changing analysis. The analysis suggests BCH might be on the cusp of overcoming a long-standing downtrend and achieving a “monumental milestone.”
For BCH enthusiasts, this potential breakout represents more than just a technical victory. It could be a turning point that ushers in a new era for the cryptocurrency. Historically, BCH has flirted with overcoming the downtrend, only to fall back within its boundaries. However, Rekt Capital believes this time might be different.
The key takeaway from my analysis is the possibility of Bitcoin Cash finally closing a monthly candle above the macro downtrend line, Rekt Capital stated in the analysis.
$BCH / USD – #BCH #BitcoinCash
Bitcoin Cash is on the cusp of making history
BCH formed upside wicks past this Macro Downtrend in the past
But it is very likely we will soon see BCH Monthly Candle Close beyond the Macro Downtrend for the first time ever#BTC #Crypto #Bitcoin https://t.co/v6gA4Wisti pic.twitter.com/IP7OB0F2OJ
— Rekt Capital (@rektcapital) March 29, 2024
The significance of such a move lies in its potential to attract new investment. A confirmed breakout would be a strong bullish signal, potentially swaying investors who have been hesitant about BCH’s future. This, in turn, could lead to a rise in BCH’s valuation and solidify its position in the ever-evolving cryptocurrency landscape.
Industry leaders point to a successful breakout as a major vote of confidence for Bitcoin Cash. It would demonstrate BCH’s underlying strength and resilience in a notoriously volatile market.
While the anticipation surrounding BCH is palpable, some caution remains. The cryptocurrency market is known for its unpredictable nature, and BCH is currently experiencing a short-term price dip of 1.6% and is currently trading at 5. However, this needs to be viewed in context of a recent 30% weekly surge, highlighting the market’s inherent volatility.
The next few weeks will be crucial for BCH. If the monthly candle closes above the downtrend line, it would be a significant confirmation of bullish sentiment. However, failure to do so could lead to a pullback and dampen the current optimism.
The potential breakout for BCH underscores the dynamic nature of the cryptocurrency space. Trends can shift rapidly, and what appears certain one day can quickly change course. This is precisely what makes the industry so captivating, with innovation and progress constantly pushing boundaries.
The story of Bitcoin Cash is a testament to the relentless pursuit of progress in the crypto sphere. Whether BCH breaks out or not, its trajectory serves as a reminder of the ever-evolving nature of this exciting and unpredictable market.
With all eyes on the upcoming monthly candle close, the cryptocurrency community waits to see if Bitcoin Cash can finally turn the corner and etch its name in the crypto history books.
Featured image from Pixabay, chart from TradingView
Former Coinbase CTO Balaji Srinivasan: Bitcoin Is a ‘Political Revolution’
Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who […]
Bitcoin News
Game-Changer: BlackRock ETF Approval’s Impact on Cogwise’s AI Fuelled Crypto Revolution
The world of cryptocurrency has seen a surge in popularity over the past few years, with many investors turning to digital currencies as a way to diversify their portfolios. However, with the increasing number of cryptocurrencies on the market, it can be difficult to make informed investment decisions. This is where AI technology comes in.
Introducing the latest project to join the world of cryptocurrency and Cogwise AI. The project aims to revolutionize the crypto industry by using AI technology to provide investors with real-time data and insights to help them make informed investment decisions.
How will the approval of BlackRock’s ETF reflect on Cogwise?
The anticipated approval of BlackRock’s ETF is not only a significant milestone for the cryptocurrency market but also holds the promise of being a game-changer for projects like Cogwise. If approved, the ETF could promptly commence operations and be listed and traded on major stock exchanges. This would extend beyond merely providing investors with a regulated route to engage with Bitcoin and its price dynamics. For Cogwise, the prospect of being available on major stock exchanges presents an unprecedented opportunity, elevating its visibility and accessibility to a broader audience. The potential synergy between the ETF approval and the trading availability of Cogwise on major exchanges could contribute to a transformative shift, further solidifying the project’s position in the ever-evolving landscape of blockchain and artificial intelligence.
So, what is Cogwise all about?
Cogwise (COGW) stands as an advanced AI model meticulously crafted for the realms of blockchain technology, global industries, and the cryptocurrency domain. Employing state-of-the-art algorithms and high-speed computing capabilities, Cogwise addresses intricate challenges within the financial space.
At the heart of the Cogwise platform lies the AI Inference Engine, a pivotal component that empowers users to leverage cutting-edge innovations, enhancing their trading experiences manifold. Boasting an array of distinctive features, Cogwise emerges as an indispensable tool for individuals, developers, and businesses navigating the blockchain and global landscape. Among its offerings are a no-code smart contract generator, a smart-contract auditor, technical chart analysis, wallet tracking, Cogwise smart alerts, and a news source. By pioneering the most advanced AI model, Cogwise opens the door to limitless use cases applicable in diverse scenarios. Furthermore, the SDK & API service facilitates developers in crafting new applications driven by Cogwise or seamlessly integrating them into existing ones.
Backing Cogwise is the $COGW utility token, a vital element necessary for accessing various AI tools and products powered by $COGW. This token assumes a pivotal role within the Cogwise ecosystem, ensuring seamless interactions with the platform’s innovative array of services.
How is the Cogwise Smart Alert system about to shape the world of finances?
Real-Time Trading
Cogwise trading model uses a market scanner to identify and rank trading opportunities based on volume, price change, momentum, float and many more. With automated execution and customizable strategies, it enables trades and potential profit maximization. Back testing ensures profitability, while focusing on select assets saves time and resources.
AI News Aggregator
By using advanced artificial intelligence and machine learning algorithms, the bot can provide real-time analysis of all the news and global trends, and predicts the future movement of certain stocks or cryptocurrencies tied to the news.
This trading bot uses advanced artificial intelligence and machine learning algorithms to analyze news articles and social media posts from various sources in real-time. By identifying keywords and trends, the bot can predict how news events will affect specific stocks or cryptocurrencies. For example, if there is a major global event that could impact oil prices, the bot could analyze news articles and social media posts related to the event to predict how the price of oil may move.
Similarly, if a new technology is gaining popularity, the bot could analyze news articles and social media posts related to the technology to predict how the stocks or cryptocurrencies tied to the technology may perform in the future.
Wallet Tracking
Cogwise wallet tracking offers an automated system that uses complex algorithms to analyze market data, identify large wallet transactions, track a predetermined wallet. By monitoring these trading activities the smart alert system sends a notification to the trader. These notifications can be sent via email, text message, or through our app. By receiving these alerts, traders can quickly respond to trading opportunities and potentially increase their profits.
Participate through their website cogwise.io
In the meanwhile take a look at the whitepaper, which is outlining the comprehensive details of Cogwise’s approach, methodology, and the transformative impact they aim to achieve.
What Makes Cogwise the Future of AI?
- An innovative approach to trained AI models: Cogwise offers a range of financial services that are designed to be more user-friendly and accessible than traditional finance products. With its focus on innovation and accessibility, Cogwise is poised to attract a large user base and become a major player in the AI space.
- Strong team: Cogwise has a team of experts in blockchain, finance, and technology, which gives the platform a strong foundation for growth and success. With this level of experience and expertise, COGW is well-positioned to tackle the challenges of the AI space and continue to innovate in the future.
- Early adopter advantage: By getting in early on the Cogwise presale, investors have the opportunity to buy in at a lower price and potentially benefit from significant growth in the future. With the potential for high returns and the growing interest in AI, Cogwise is an attractive investment opportunity for early adopters.
- Potential for high returns: As an early adopter of Cogwise, investors have the potential to benefit from significant growth in the future. With the growing interest in AI and blockchain technology, Cogwise could be an attractive investment opportunity for those looking for the next big thing in crypto.
Final Thought
Join the future of AI revolution with Cogwise (COGW). With its innovative approach to AI, a strong team of experts and a growing AI market, Cogwise is the perfect opportunity for investors to get in on the ground floor of the next big thing in crypto.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Edelcoin: A Stablecoin Revolution
In the rapidly evolving world of cryptocurrencies, stablecoins have emerged as a beacon of stability amidst the volatility of digital assets like Bitcoin and Ethereum. Stablecoins are digital currencies anchored to a diversified asset, such as fiat currency or different commodities like gold. One of the most promising developments in the stablecoin market is the unique Edelcoin.
Edelcoin: A Unique Stablecoin
Enter Edelcoin, a stablecoin backed by a basket of precious and base metals which are used across various industries, including medicine, medical research, electronics, aerospace, military, energy, telecommunications, and navigation. These metals include Copper Isotope, Nickel Wire (NP1, NP2), and Caesium 133, each with unique applications and supply circumstances.
Benefits of Edelcoin
Edelcoin is backed by these metals, offering benefits such as low volatility due to the real nature of the underlying assets. The basket nature of the underlying metals further reinforces the low volatility of Edelcoin.
However, it is essential to note that past price development is not a guide for future price developments.
Here are a few use cases for the metals backing up each EDLC.
Applications of the Backing Metals
- Copper Isotopes: Copper isotopes, notably Copper-63 and Copper-65, are widely used in medicine, biochemistry, and as tracers in chemical and physical experiments. They are also essential in the production of radiopharmaceuticals and for diagnostic procedures in nuclear medicine. The supply of these isotopes involves intricate and costly extraction and purification processes.
- Nickel Wire (NP1, NP2): High-purity NP1 and NP2 grade Nickel wire is extensively used in electronics, aerospace, and energy industries due to its high melting point, resistance to oxidation and corrosion, and exceptional thermal and electrical properties. Geopolitical risks characterize the supply of this metal.
- Caesium 133: Caesium 133 is primarily used in atomic clocks, the most accurate time and frequency standards known. Its applications also extend to telecommunication and global navigation satellite systems. The supply of this metal is characterized by its scarcity, as it is one of the rarest elements on Earth.
Vision
Edelcoin is built for now, and the future, and it is reflected in its vision.
The vision of Edelcoin revolves around the sustainable utilization of the Wealth of the Earth, leveraging the power of blockchain technology. Throughout history, the means of exchanging value as a form of payment have undergone multiple transformations. It is now time for another paradigm shift that combines the best elements of the past and the future, offering a stable, reliable, and cost-effective alternative to existing payment methods and stablecoins.
Edelcoin’s vision is to bridge the gap between the traditional financial sector and the decentralized financial world. By harnessing the advantages and expertise of the old world and the innovation and growth potential of new technologies, we aim to enhance security and restore trust in the market.
Mission of Edelcoin
Edelcoins’ mission is to bring back a stable, asset-backed means of payment and store of value as a digital instrument with the opportunities of DeFi.
The mission is centered around sustainable value creation across the entire lifecycle. It aims to establish and reintroduce a stable payment method backed by real-world assets. Through tokenizing commodities, EDLC unlocks unprecedented possibilities for revolutionary use cases within the decentralized finance world.
Edelcoin is committed to pursuing its mission within a regulatory-compliant Swiss framework, setting new standards for corporate governance in the future of the decentralized economy. The goal is to position Edelcoin as the leading stable payment token and become the industry benchmark.
Whitepaper of Edelcoin
The Edelcoin whitepaper is a testament to the project’s commitment to transparency, innovation, and the sustainable use of Earth’s resources. It meticulously outlines the technical and economic foundations of the Edelverse. At its core, the whitepaper emphasizes the importance of a stablecoin backed by valuable assets, ensuring that each Edelcoin is over-collateralized by 25%. This approach not only guarantees the coin’s stability but also its resilience against economic downturns. The whitepaper further delves into the tokenization process and the rigorous KYC and AML checks in Switzerland for metal owners wishing to tokenize them. With a clear roadmap, the whitepaper paints a promising picture of Edelcoin’s future, positioning it as a frontrunner in the next generation of stablecoins. The document is a must-read for anyone keen on understanding the intricacies of a metal-backed digital currency and the future it envisions for the decentralized economy.
Advantages of Edelcoin
Stability: A stablecoin backed by a basket of precious and base metals like Edelcoin are less susceptible to inflation and economic downturns than fiat-backed stablecoins. Precious metals have historically held their value over time, making them a reliable store of wealth.
Transparency: Edelcoin provides transparent collateral peace of mind. The collateral pre-exists the minting of the coins, is not invested, and is held in certified high-security custodians. Each coin is associated with an identifiable fraction of the certified and disclosed collateral of the basket.
Diversification: Edelcoin is backed by a basket of precious and base metals, providing a diversified and balanced mix that mitigates price volatility.
Potential for Appreciation: The value of Edelcoin is driven by the value of the collateral, which may appreciate over time due to the growing demand for those metals in various industries.
Contribution to Eco-Friendly Initiatives: By using Edelcoin, users contribute to eco-friendly and more efficient mining (nano-mining) procedures and charitable initiatives through the contribution of the tokenization proceeds.
Edelverse
Edelcoin is being adopted in the marketplace. Use cases as payment tokens are numerous and may include adoption in wallets for peer-to-peer transactions, embedding in lending protocols, but also acceptance as a means of payment in goods and services transactions – very much as numerous stores worldwide accept bitcoin as a means of payment. We are happy to see that Edelcoin can serve as a means of payment to buy gold and silver coins at our partner boutique.
Edelcoin’s Milestone
Edelcoin has recently minted its first batch of 5.5 billion tokens, marking a significant milestone in its journey to provide a superior stablecoin for the crypto market. For the ease of users, it’s important to note that 1 EDLC was set equivalent to 1 USD for the launch. With its unique backing of precious and base metals, Edelcoin offers a stable and secure alternative for users looking for a reliable digital currency.
Edelcoin FAQ Highlights
- Edelcoin is a unique stablecoin backed by a basket of precious and base metals.
- Owning Edelcoins means you co-own the metals backing them.
- Its value is tied to the value of its metal reserves. Historically, these metals have shown low volatility compared to fiat currencies.
- Edelcoin is well-suited for trading crypto assets on the blockchain.
- Coins are minted following the tokenization of existing metal reserves. Edelcoin AG subjects metal owners wishing to tokenize these metals to rigorous KYC and AML checks in Switzerland.
- EDLC serves as both a means of payment and a store of value.
- Edelcoin is minted in Switzerland by Edelcoin AG.
- Edelcoin AG is fully compliant with Swiss legislation. It is a member of the FINMA-recognised Self Regulatory Organisation “VQF” for ensuring compliance with AML and CTF legislation.
Listings on Exchanges
Edelcoin is currently listed on cryptocurrency exchanges, such as xt.com and probit.com, making it easily accessible for trading and investment. More exchanges are coming in the near future.
The Future of Metal-Backed Stablecoins
The advantages of metal-backed stablecoins are numerous and have been recognized by experts in the field. These stablecoins are considered the future of crypto stablecoins for several reasons, including inherent value, hedge against inflation, global acceptance, transparency, accountability, and diversification.
Conclusion
Edelcoin represents a significant advancement in the world of stablecoins, offering a unique and innovative approach to digital currency backed by a basket of precious and base metals.
Its low volatility, transparency, diversification, potential for appreciation, and contribution to eco-friendly initiatives make it an attractive option for users seeking a reliable digital currency. As the demand for stablecoins continues to grow, Edelcoin is well-positioned to become a leading player in the stablecoin market. Its recent milestone of minting 5.5 billion tokens and its listings on cryptocurrency exchanges like xt.com and probit.com further solidify its presence in the crypto market. With its unique backing, regulatory compliance, and commitment to transparency, Edelcoin is poised to revolutionize the stablecoin landscape and provide a trusted and innovative solution for the crypto community.
Follow us on Socials: https://linktr.ee/edelcoin
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Web3 Revolution: ‘Low Latency Is King’ Says Fleek Network Lead Researcher
According to Parsa Ghadimi, the lead researcher at the Web3 infrastructure platform Fleek Network, many developers of decentralized apps (dapps) continue to shun Web3 infrastructure because it has low latency. Ghadimi asserts that developers and users are more concerned with performance than the novelty of Web3 applications.
Web3 Regulation a ‘Certainty’
While this may explain developers’ use of or preference for Web2 infrastructure, according to Ghadimi, participants in the Web3 ecosystem can reverse this trend by “matching the performance and latency of Web2.”
Meanwhile, when asked about reports of the United States’ attempt to regulate the decentralized finance (defi) ecosystem, Ghadimi told Bitcoin.com News that he remains optimistic regulators will not go after projects which adhere to rules. Although the eventual regulation of Web3 is now widely seen as a “certainty,” the researcher nevertheless said he is “increasingly optimistic” that this will be done in a “sensible” way.
In his written answers sent to Bitcoin.com News via Telegram, Ghadimi also shared his thoughts on why the web infrastructure needs Web3. He also offered his thoughts about the future of centralized entities in Web3.
Below are all of Ghadimi’s responses to the questions sent.
Bitcoin.com News (BCN): What does the decentralization of the Web3 infrastructure mean and what’s the need for moving infrastructure to a decentralized layer?
Parsa Ghadimi (PG): Decentralizing web infrastructure is the shift from using corporate-controlled web infrastructure and cloud platforms to permissionless, uncensorable, decentralized platforms. You are only as strong as your weakest link, and so if even one part of your stack is centralized, you are vulnerable to censorship, de-platforming, hacks, service failures, etc. That’s the main reason for needing to move internet infrastructure and software off corporate-controlled cloud platforms and onto decentralized networks. Web3 only becomes a reality if the entire stack is decentralized.
BCN: Many developers building decentralized applications are aware of the critical principles of Web3 yet they still go on to build dapps on Web2 infrastructure. Why do you think they still do this and what needs to happen to encourage them to switch to a decentralized base layer?
PG: Performance/low latency is king. No one will care if your product is decentralized if it loads slowly. And so most developers are currently forced to use Web2 infra to get Web3 performance to meet developer/user demands. What needs to happen to encourage them to switch to decentralized infra is that there needs to be decentralized infra that can match the performance and latency of Web2. And that’s exactly what we are aiming to do with Fleek Network and building a decentralized edge network.
BCN: Can you tell us about your platform — Fleek Network — and its approach to bringing developers a decentralized edge layer?
PG: Fleek Network is a decentralized edge network. It’s optimized to facilitate the deployment and running of performant web and edge services (CDN, serverless functions, etc.). It brings centralized web-like performance to Web3 without sacrificing Web3 values. It will lower the barrier of entry and speed up time to market for developers building Web3 infra/middleware by allowing them to offload a portion of their stack to a decentralized edge, similar to how the modern web works today. And it can replace a lot of the current parts of their stack that they still need Web2 infra for (ex. Cloudflare).
BCN: Over the past few months, we have seen regulators (particularly in the U.S.) become increasingly aggressive in their actions against crypto giants like Coinbase, Binance, and the crypto ecosystem in general. Do you foresee this happening to decentralized entities and do you believe that regulators have a role in an ecosystem that’s designed to be self-regulated?
PG: It seems like the U.S. is attempting to establish a framework for what ‘sufficient decentralization’ means. So I hope they won’t go after the projects that adhere to that criteria. Regulation seems like a certainty at this point whether we like it or not, I just hope it’s sensible. But I’m becoming increasingly optimistic that it will be.
BCN: Do you foresee more centralized entities in the Web3 space in the coming years?
PG: In absolute terms yes, just given the growth of Web3 that we will experience this decade. But I would expect to see the growth of decentralized entities match or exceed that over the same time period.
What are your thoughts about this interview? Let us know what you think in the comments section below.
The Cryptocurrency Betting Revolution on Wintop․io
Since December 2022, Wintop.io has been strongly growing into the crypto world. A new vision of the betting industry, combining crypto and the most exciting casino and sport games, is now available on https://www.wintop.io/ with a wide variety of bonuses and promotions, for all the types of players.
It is an idea for a new iteration of the gambling which incorporates concepts such as
decentralisation, blockchain technologies, and token-based economics. The connectors available on Wintop.io,such as Metamask or Wallet connect, allow users to register and deposit in just one click. Both Deposit and withdraw will be via Web 3.0 with MetaMask and connect wallet.
The registration process is easy, fast and secure and it won’t take you more than 2 minutes and give the users the chance to play anywhere at any time. Register and deposit on Wintop.io and you will receive welcome bonuses, 200% of first deposit bonuses, and will be able to enjoy a unique casino tournament with a total prize of 500 USDT, by playing on Thousands of Casino games, the most famous and funny casino games.
Wintop.io is also offering sports events, with pre match and in game odds. With All popular worldwide sports, all leagues, and all betting markets – 150.000 pre-match and 35.000 in-play monthly, you can also take advantage of our Accumulated Bonus. This is a progressive bonus that rewards you for every bet you make. The more you bet, the higher the bonus percentage you will receive. the players will never get bored. The combination of sports betting and crypto is the perfect combination to have fun and play.
The affiliation program for online agent is an interesting point that can be discussed by contacting the following email address. The affiliates will gain a % on the total profits generated on the website. Become our agent!
Free spins, bonuses, tournaments and many other promotions will allow players to win and cash out their winnings in a very fast and secure way. The withdrawal requests will be attended only after a few hours.
The cryptocurrency betting revolution
We’re changing the way people think about Betting. Wintop.io is not just a bookmaker but a company which is constantly striving for Innovative Solutions for the Business Needs. A few years ago we were a group of creative strategists, nerds and communicators with a great passion for online games, then we met a group of intellectuals experts in cryptocurrencies with a passion for blockchain, together we founded Wintop and driven by our purpose, values and culture, our strategy helps us realise our ambition. We focus on three strategic priorities: Customer, Team and Execution. Customer protection and compliance excellence are at the heart of everything we do and we are committed to continuously helping our customers play it safe.
Customer
We are committed to offering products of the highest standard to our customers in all of our markets. To deliver on our commitment, we will ensure continuous innovation, greater personalization, customer service and customer protection.
Equipment
Our team includes talented, passionate, motivated and ambitious people. We continue to foster a culture of collaboration, inclusion and engagement and are always committed to world-class capabilities across our global business.
Execution
We always want to be known as a company that delivers on our promises. Therefore, we will continue to scale and deliver industry-leading operational efficiency. This will help us drive sustainable and profitable revenue growth while always ensuring excellence in operational compliance.
Wintop together with Sirplay, the gaming software producer, has brought a completely new vision of the betting industry, indeed Sirplay thinks that unlike the majority of online casinos where the player needs to deposit funds into the casino, a different solution relies on a smart contract running on the blockchain to hold the funds of a playing session created by the player and to determine which party will receive the funds at the end of the session.
Relying on the expertise matured over the years, Sirplay builds tailored solutions for
Operators operating globally or in specific jurisdictions. The huge variety of products and services offered does not bring behind the flagship product, the sports betting engine. Complete odds data feed, different types of bets, cashout, match tracker and statistics are few of the services included within the sportsbook.
Pair that with the casino and live casino games, the result is a fully equipped gaming
platform, luring players to an amazing entertainment experience. Sirplay provides many different solutions, visit www.sirplay.com.
WEB3
The Internet is undergoing an extraordinary transformation journey. It is becoming a
fundamental infrastructure for running businesses and delivering services. The Semantic Web is the foundation of Web3, a new Internet architecture that would make the Web of the future far more reliable, resilient, and useful. According to popular belief, Web3 is a new type of international social interaction, a decentralised, permissionless blockchain-based economy, and a new type of information architecture. Web3 is still facing challenges to reach mass adoption, but it is a matter of time, as described in this article.
https://news.bitcoin.com/web3-must-overcome-significant-ux-challenges-to-reach-mass-adoption/
Financial systems are constantly evolving (Credit cards, money transfer) While the Internet has revolutionised the way we live and work, it’s still fundamentally an analog system.
They are so called digital but still Thanks to the Internet, new, more integrated, effective and secure financial systems have been developed. Web3 it’s the concept to yield a new generation of financial systems that have the potential to run in parallel or to replace the current financial system. As such, cryptocurrencies can replace FIAT currency. And as consequence even in the gambling industry there will be changes.
Web3 advantages for casino and online betting
Web3 will bring many changes to our current systems: Here’s how the Web 3 will affect us all:
1. People will be able to rely more on Web3 systems. More content creators will be
liberated from Web3. Web3 will provide users with total control over their internet data using decentralised networks.
2. It’s open to everyone. Web3 is subject to several sources of scrutiny. Decentralised apps (dApps) cannot be restricted or outlawed because larger companies could lose control of the internet.
3. Personalization on the web. Online 3.0 will be able to understand user preferences and allow users to customise their web browsing, which will increase the effectiveness of web browsing.
4. More effective marketing and online presence. We can see better and more relevant advertising thanks to the artificial intelligence (AI) of Web3, which allows suppliers to understand your shopping preferences and provide goods and services that customers would find attractive.
5. Less downtime. Since all data is kept on dispersed nodes, decentralisation will avoid
outages caused by technical or other issues.
Two main aspects where Web3 will change financial systems are: DeFi and Cryptocurrencies.
Let’s discuss them in detail:
Current Financial Systems
A financial system is a group of organizations that allow money to be exchanged, like banks, insurance companies, and stock exchanges. There are financial systems at the corporate, regional and international levels. To finance any kind of projects, buying goods or for investment, borrowers, lenders and investors trade cash to seek a return. To determine which projects to finance, who finances and the T&Cs, borrowers and lenders rely on a variety of rules and procedures that constitute the current financial system.
Financial markets control loan negotiations between borrowers, lenders and investors. The economic assets traded in these markets are often some sort of currency: Local currency (cash), future money (credit) or income from future real asset appreciation (equity). Financial instruments known as “derivatives” are those that depend on the performance of an underlying financial asset, such as commodity futures or stock options. These are all traded in the financial markets between investors, lenders and borrowers under standard supply and demand rules.
The entire financial system it’s controlled by a finance minister of some sort. These entities
can control an entire country’s financial system. Most countries these days have a legal currency governed by the international currency exchange. The US dollar is generally considered as the worldwide currency. The fact is that central governments and banks can lead the system as they wish. The average John Doe does not have much say in this aspect. The interest rates on deposits and loans are set by the central banks.
Decentralized Finance (DeFi)
Almost all aspects of banking, lending and commerce are now controlled by centralized
systems managed by authorities and gatekeepers. Regular consumers have to interact with various financial intermediaries to access everything from auto loans and mortgages to trading in stocks and bonds. The Securities and Exchange Commission (SEC) and the Federal Reserve set the regulations for the world of centralized financial institutions and intermediaries in the United States, and Congress periodically updates the regulations. We have the Ministry of Finance and the Reserve Bank of India in India.
As a result, consumers have limited direct access points to money and financial services. They cannot avoid intermediaries such as banks, exchanges and lenders who benefit from every financial and banking transaction by taking a cut. To be part of this financial system, we all have to pay.
● A new financial system called decentralized finance (Defi) is built on securely distributed ledgers comparable to those used by cryptocurrencies. The system eliminates the authority that financial institutions, including banks, have over money, financial assets and financial services. It offers the potential to provide more accessible financial markets that are open, free and fair for everyone with an internet connection.
● Decentralized finance removes the middlemen by allowing individuals, companies and merchants to transact financially using new technologies. Peer allows these systems to peer financial networks using the appropriate connectivity, software, and
hardware and information security protocols.
● You can lend, trade, and borrow using software that records and validates financial transactions in distributed financial databases from anywhere with an Internet connection. A distributed database allows access from multiple locations, collects
data from all users, and verifies it using a consensus process.
● The blockchain technology employed by cryptocurrencies is used in decentralized
finance. Blockchain is a secure, distributed database or ledger. The blockchain is
managed and transactions are handled by programs known as dApps.
● The blockchain records transactions as blocks which are subsequently confirmed by
other users. If all these verifiers agree on a transaction, the block is closed and
encrypted and a new block is created with the details of the old block in it.
A distributed database that maintains an ever-expanding list of sorted entries, called blocks, is what a blockchain is. These blocks are linked using cryptography. Each block includes transaction information, a timestamp, and a cryptographic hash of the previous one.
Defi offers many customers several important benefits, including:
● Eliminates usage fees that banks and other financial institutions impose.
● Instead of depositing your money in a bank, you keep it in a secure digital wallet.
● Anyone can use it with an internet connection without permission.
● Fund transfers are very fast and convenient.
Cryptocurrency
A cryptocurrency is a group of binary data used outside of established financial and political
organizations as a means of transacting via the Internet. It doesn’t have a tangible counterpart like coins and bills. Since the debut of the first decentralized cryptocurrency, Bitcoin, in 2009, a large number of other cryptocurrencies have been developed.
Conclusion
Web3 will undoubtedly create new markets, business models and other untapped opportunities. As Blockchain is essential for Web3, we will see the fusion of cutting-edge technologies, bringing the Internet to a level of efficiency never seen before.
● The financial sector will also suffer. New customer groups and markets will be
produced by Web3. Organizations need to be prepared to embrace change and take advantage of Web3 as COVID-19 has already demonstrated how important innovation and technology adoption are to their ability to survive.
● Decentralized finance, or Defi, takes the middlemen out of financial transactions
using cutting-edge technology.
● Stablecoins, software and hardware that support the creation of apps are the
elements that make up Defi. Defi aims to eliminate the intermediaries present in all
financial transactions.
● A type of digital asset known as a cryptocurrency is based on a network that is
dispersed among several computers. They can exist independently of governments
and other central authorities due to their decentralized nature.
● Cheaper and faster money transactions and decentralized systems that don’t have a
single point of failure are two advantages of cryptocurrencies.
We talked a lot about how Web3 can change the world of finance. The future looks bright
and optimistic.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
The Revolution of NFTs are now allowing People to buy Things Money Could Not Buy Before
The new age of wealth gave way to many new things in the world today. If we look at the luxury industry, watches are hard to get, cars are hard to buy. The world is currently experiencing a new wave of people that are attempting to buy things that money could not buy before. This article will explore some case studies in which NFTs allow for the purchasing of things that money could not buy before like BAYC, Crypto Punks, and now new projects like High Sloth Society, and more.
The Current Wave of Demand and the Luxury Industries
With the new age of wealth, naturally, the luxury markets have enjoyed a great boom when it comes to the demand over the sectors. Rolexes are becoming impossible to buy, cars are low in supply, even luxury real estate has inflated in prices over the past 2 years since the pandemic. The rich are becoming less interested in what money can buy, now they want what money can’t buy. Now, the world is seeing a revolution taking place currently with the rise of the NFT industry to satisfy that urge.
The Bored Apes
One of the most successful NFT projects in the sector right now is the Bored Ape Yacht Club NFTs. They are selling for millions of dollars regularly, with the cheapest ones currently on sale right now for over 100 ETH (which is over 0,000 at the time of this article). One of the biggest reasons for this insane pricing is because the Bored Ape Yacht Club gives a sense of membership to an exclusive club. Eminem, Rihanna, and many other A-list celebrities and notable people are all part of the club. In essence, to be considered as part of the same group, you need to own a bored ape NFT. This is something that did not exist before. But now it does, through the use case of NFT technology.
NFTs, and the evolution of their reach
Given the case study of the Bored Apes, now we are seeing new reaches in the space. The High Sloth Society project is a new way for people to buy something that could not be bought before.
In Korea, Funds pour into Dao to buy Korean national treasures, there was an ancient artifact that went on sale. Through a company called Crayon DAO, 900 ETH was raised to purchase the artifact of the museum that was on the brink of bankruptcy. Now, this artifact is in the hands of the crypto crowd. Giving notable people the exclusive opportunity to be part of the ownership of this artifact. Enter the High Sloth Society, where you could buy this NFT soon and own a piece of a sacred portable temple.
This is an NFT PFP collection that would bridge the sacred artifact and the crypto space to real ownership. This is the chance for people to participate in the preservation and ownership of something that comes from the upper echelon of collecting, and heritage. This is a perfect example of something that people could not buy before. An ancient artifact, protected by the gates of a museum, is now brought and offered to the world via NFTs as a vessel of the rightful ownership of a sacred temple.
Website: https://www.highslothsociety.com/
CELED by Stephen Vineburg as a symbol of NFT art revolution
Stephen Vineburg, an artist from the UK, launched his NFT artwork CELED as both a unique NFT and digital phone-based AR filter, that brought 3D life to a still image. CELED is an amalgam of elements of ‘Liberty Leading the People’ by Eugene Delacroix from 1830 and ‘The Wreck of the Medusa’ by Theodore Gericault from 1818. The main idea of the art piece is an observation on extant affairs, where despite all the chaos and distress that is being experienced by society, our leaders are perhaps more focused on their own vanity than providing leadership.
About Stephen Vineburg
Stephen Vineburg has developed a conceptual art practice with a focus on using AR to explore contemporary issues. In 2021 Stephen was the artistic partner for “Suspension”, a digital art project which addressed the digital paradox of the duality of isolation and connection. It was launched in partnership with the European Cultural Academy as a collateral event to the Venice Biennale. Stephen is an art historian with a multifaceted personality and has interests in art, film, music, and business. In 2018, Stephen was an Executive Producer of the award-winning, independent film, ‘Emu Runner’ which had its world premiere at the Toronto Film Festival. Stephen believes that the NFT market will soon move away from pieces that simply showcase the digital technology, to using the art form to make provocative artistic statements, and that CELED is a first mover in that direction.
What makes CELED unique
CELED is a result of Stephen’s interest in the exploration and re-interpretation of classic artistic images as a way of addressing contemporary issues. Stephen says the project is predominantly about a few things: developing a conceptual art practice with a focus on using AR to explore contemporary issues and experimenting with movement between the physical and digital worlds. A unique feature of the piece is that it uses the full range of the animation provided by the NFT and AR technology to make an engaging art piece, that is also making an artistic statement.
In many cases, the NFT art space is either populated by cartoon characters or is merely showcasing the digital animation technology, but in both cases ultimately bereft of artistic statement or meaning.
The NFT is an amalgam of elements of ‘Liberty Leading the People’ by Eugene Delacroix from 1830 and ‘The Wreck of the Medusa’ by Theodore Gericault from 1818. Hence the figure of ‘Liberty Leading the People’ with the French Tricolor has been replaced by ‘Celebrity’ and the Tricolor replaced by a selfie.
CELED is a result of the evolution of Stephen’s art path starting from physical pieces all the way up to NFTs, which represents constant growth and transformation. Explore his artwork on Foundation.