tl;dr
There is a lot of long-reaching events going on. Here is what is on my mind today.1. Goldman Sachs, Paxos, Microsoft, are launching a new blockchain network, Canton Network. The network is meant to directly address the needs of traditional financial institutions. They are looking to make transaction...
There is a lot of long-reaching events going on. Here is what is on my mind today.
1. Goldman Sachs, Paxos, Microsoft, are launching a new blockchain network, Canton Network. The network is meant to directly address the needs of traditional financial institutions. They are looking to make transaction more efficient and expedient. Data, assets and funds can be synchronized across applications over the decentralized infrastructure.
2. Amid regulatory uncertainty in the United States, Bermuda is emerging as a natural regional replacement location. Bermuda has long been a haven for companies that wish to escape what they deem to be regulatory uncertainty or unfair regulations. Back in 2018 Bermuda introduced the Digital Asset Business Act (DABA). The regulatory framework for digital assets, including cryptocurrencies. Even with strict anti-money laundering (AML) and know your customer (KYC) regulations, DABA is clear and calls for businesses to register with the government. This is the clarity businesses have been looking for from the United States, but have yet to get it.
3. Twitter's new CEO seems to like Shiba Inu or at least she is following the once memecoin and also follows Billy Markus' official Dogecoin account. Even with this being the case, there is still no clear idea of where she stands on crypto. More importantly, there is still no clear roadmap for crypto at Twitter that is known to the public. Everything thus far has been based purely on speculation. Sometimes that's all it takes.
4. Former SEC member, John Reed Stark, has some harsh words for Tether, calling it a 'crypto counterfeiter'. He says the project lacks transparency and posted a series of tweets that do more than just slam Tether. Something comes to mind with his actions though. What is in it for him other than taking down Tether would send shockwaves through the crypto industry.
5. Texas becomes the next state to ban CBDCs. So far, I know that Florida and North Carolina have both blocked CBDCs. Texas seems to paint the picture that there is major pushback against a digital currency that can track what people do with their money. More importantly, it do more than just track. A CBDC can actually allow a government to also control what is done with money. That is a hard sell.
6. The team at OpenAI is in advanced talks to fund a new crypto venture, WorldCoin. I normally do not take time to discuss projects that haven't even hit the whispers of mainstream, but this one interests me. My company, Rebel Visions, has already integrated crypto into our web hosting platform, Rebel Reach and has done the same with integrating artificial intelligence technology from OpenAI. I will be keeping a very close eye on this project. The project is going to launch in about six weeks and promises to bring biometric crypto verification to the space.
7. Binance is betting big on automation with the introduction of trading bots. So far they have bot technology rolled out for several strategies, including spots, futures, rebalancing and automatic investment. Originally announced on Twitter this passed Thursday, I think the new tools will usher in a new age for both retail and institutional investors.