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Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons
A Chinese state-owned commercial bank is set to pilot a digital yuan-powered “smart contract solution” that allows elementary school parents to pay for their children’s education using the e-CNY.
The initiative, per the media outlet The Cover, is the brainchild of the Bank of China, one of the “big four” state-owned commercial Chinese banks. The project is being carried out in the city of Chengdu, in China’s central Sichuan Province. The bank has teamed up with Chengdu’s education and financial authorities and will let parents pay for their children’s pre- and after-school clubs, sports lessons, and extracurricular lessons using the digital fiat.
A Chinese state-owned commercial bank is set to pilot a digital yuan-powered “smart contract solution” that allows elementary school parents to pay for their children’s education using the e-CNY.
The initiative, per the media outlet The Cover, is the brainchild of the Bank of China, one of the “big four” state-owned commercial Chinese banks. The project is being carried out in the city of Chengdu, in China’s central Sichuan Province. The bank has teamed up with Chengdu’s education and financial authorities and will let parents pay for their children’s pre- and after-school clubs, sports lessons, and extracurricular lessons using the digital fiat.
Square Yards launches 3D metaverse platform for Dubai real estate
Square Yards, one of the fastest growing proptech companies globally, today launched a 3D Metaverse platform that will showcase the future of real estate search and discovery through a high-end 3D digital twin of the city of Dubai. Using cutting-edge technologies such as 3D, AI, VR, and AR. The metaverse product is built with multiple data layers including maps, 3D content, transaction, listings, and project information.
Square Yards, one of the fastest growing proptech companies globally, today launched a 3D Metaverse platform that will showcase the future of real estate search and discovery through a high-end 3D digital twin of the city of Dubai. Using cutting-edge technologies such as 3D, AI, VR, and AR. The metaverse product is built with multiple data layers including maps, 3D content, transaction, listings, and project information.
Yuga Labs Officially Releases IP Rights Tied to Cryptopunks, Meebits NFTs
Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has officially released the intellectual property (IP) rights tied to the Cryptopunks and Meebits NFTs. The company acquired the IP rights to the NFT collections in mid-March 2022, and owners can use their NFTs for commercial or personal purposes. On March 12, 2022, Bitcoin.com News reported on the Cryptopunks and Meebits non-fungible token (NFT) collections being acquired by Yuga Labs. The firm Yuga Labs is the company behind the blue-chip NFT collection Bored Ape Yacht Club (BAYC), and when the startup acquired Meebits and Cryptopunks, it promised to release the IP rights.
Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has officially released the intellectual property (IP) rights tied to the Cryptopunks and Meebits NFTs. The company acquired the IP rights to the NFT collections in mid-March 2022, and owners can use their NFTs for commercial or personal purposes. On March 12, 2022, Bitcoin.com News reported on the Cryptopunks and Meebits non-fungible token (NFT) collections being acquired by Yuga Labs. The firm Yuga Labs is the company behind the blue-chip NFT collection Bored Ape Yacht Club (BAYC), and when the startup acquired Meebits and Cryptopunks, it promised to release the IP rights.
Forwarded from Pavel Durov
I'm really impressed by the success of the auction TON recently conducted for their domain/wallet names. Wallet.ton was sold for 215,250 Toncoin (~$260000) while casino.ton was sold for ~$244000.
If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction. In addition to millions of catchy t.me addresses like @storm or @royal, all four-letter usernames could be made available for sale (@bank, @club, @game, @gift etc).
This would create a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart-contracts. Other elements of the Telegram ecosystem, including channels, stickers or emoji, could later also become part of this marketplace.
When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bullet-proof smart contracts for TON (since it was us who invented its smart-contract language), so we are inclined to try out TON as the underlying blockchain for our future marketplace.
Let's see if we can add a little bit of Web 3.0 to Telegram in the coming weeks.
If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction. In addition to millions of catchy t.me addresses like @storm or @royal, all four-letter usernames could be made available for sale (@bank, @club, @game, @gift etc).
This would create a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart-contracts. Other elements of the Telegram ecosystem, including channels, stickers or emoji, could later also become part of this marketplace.
When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bullet-proof smart contracts for TON (since it was us who invented its smart-contract language), so we are inclined to try out TON as the underlying blockchain for our future marketplace.
Let's see if we can add a little bit of Web 3.0 to Telegram in the coming weeks.
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‘India’s TikTok’ Chingari launches the world’s first-ever video NFT marketplace
Creator Cuts is set to be the world’s first-ever video non-fungible token (v NFT) marketplace, as the company commits to fostering and propagating the creator economy. In this marketplace, video NFTs will be minted based on premier videos produced by Chingari’s most successful creators, according to a press release shared with Finbold. The purpose of Creator Cuts is not only to provide content creators with an innovative financial and community engagement opportunity but also to make it possible for users to connect with the creators of the content they enjoy the most by purchasing a piece of the original artwork that they have produced and thereby gaining financial benefit from the purchase.
Creator Cuts is set to be the world’s first-ever video non-fungible token (v NFT) marketplace, as the company commits to fostering and propagating the creator economy. In this marketplace, video NFTs will be minted based on premier videos produced by Chingari’s most successful creators, according to a press release shared with Finbold. The purpose of Creator Cuts is not only to provide content creators with an innovative financial and community engagement opportunity but also to make it possible for users to connect with the creators of the content they enjoy the most by purchasing a piece of the original artwork that they have produced and thereby gaining financial benefit from the purchase.
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Cybercriminals Have Stolen Over $100 Million in NFTs.
Over $8 million of illicit funds has been laundered through NFT-based platforms since 2017 – representing 0.02% of trading activity originating from known sources.
Over $100 million worth of NFTs were publicly reported as stolen through scams between July 2021 and July 2022, netting perpetrators $300,000 per scam on average. July 2022 saw over 4,600 NFTs stolen – the highest month on record – indicating that scams have not abated despite the crypto bear market.
Tornado Cash, a US-sanctioned mixer, was the source of $137.6 million of cryptoassets processed by NFT marketplaces and the laundering tool of choice for 52% of NFT scam proceeds before being sanctioned by OFAC in August 2022. Its prolific use by threat actors engaging with NFTs further emphasizes the need for effective sanctions screening by NFT platforms.
Over $8 million of illicit funds has been laundered through NFT-based platforms since 2017 – representing 0.02% of trading activity originating from known sources.
Over $100 million worth of NFTs were publicly reported as stolen through scams between July 2021 and July 2022, netting perpetrators $300,000 per scam on average. July 2022 saw over 4,600 NFTs stolen – the highest month on record – indicating that scams have not abated despite the crypto bear market.
Tornado Cash, a US-sanctioned mixer, was the source of $137.6 million of cryptoassets processed by NFT marketplaces and the laundering tool of choice for 52% of NFT scam proceeds before being sanctioned by OFAC in August 2022. Its prolific use by threat actors engaging with NFTs further emphasizes the need for effective sanctions screening by NFT platforms.
Tron Uses Nearly 100% Less Energy Than Bitcoin and Ethereum, Study Shows
Tron beats top cryptocurrencies Bitcoin and Ethereum in the energy saving department, new research shows. Web3 has gained a very poor reputation in the field of environmental protection and sustainable development.
This is mostly attributable to blockchains like Ethereum and Bitcoin, whose protocols demand enormous amounts of energy.
POW blockchains, such as Bitcoin and Ethereum, consume more than 83 million (kWh) and 22 million kWh, respectively. After “The Merge,” Ethereum will transition to a POS consensus method in mid-September. Tron reported an annual energy use of 162,868 kWh for over 2.31 billion transactions, which is 99.9% less than Bitcoin and Ethereum.
Recent study has revealed, however, that Tron is one of the greenest networks available.The Crypto Carbon Ratings Institute released a research on Wednesday stating that the Tron network’s low power requirements make it one of the most eco-friendly blockchains.
Tron beats top cryptocurrencies Bitcoin and Ethereum in the energy saving department, new research shows. Web3 has gained a very poor reputation in the field of environmental protection and sustainable development.
This is mostly attributable to blockchains like Ethereum and Bitcoin, whose protocols demand enormous amounts of energy.
POW blockchains, such as Bitcoin and Ethereum, consume more than 83 million (kWh) and 22 million kWh, respectively. After “The Merge,” Ethereum will transition to a POS consensus method in mid-September. Tron reported an annual energy use of 162,868 kWh for over 2.31 billion transactions, which is 99.9% less than Bitcoin and Ethereum.
Recent study has revealed, however, that Tron is one of the greenest networks available.The Crypto Carbon Ratings Institute released a research on Wednesday stating that the Tron network’s low power requirements make it one of the most eco-friendly blockchains.
Survey Reveals 72% Russians Yet To Purchase Bitcoin
crypto stance was conducted by Tangem, a Switzerland-based crypto wallet provider. Kommersant, a local news agency, reported the event on August 25 and noted that the survey aims to uncover more about Russian crypto investors.
About 2,100 respondents participated in the poll, of which 72% disclosed that they’ve never purchased any crypto assets, including Bitcoin. This figure indicates that cryptocurrency investors in Russia significantly fall in the minority.
From the poll, there is still a great desire for potential crypto investment amid the larger population. About 31% of the participants disclosed their willingness to purchase crypto tokens over the next six months. While 30% indicated not having plans for future crypto investment, about 40% said they are still unsure about their stance on crypto investment.
crypto stance was conducted by Tangem, a Switzerland-based crypto wallet provider. Kommersant, a local news agency, reported the event on August 25 and noted that the survey aims to uncover more about Russian crypto investors.
About 2,100 respondents participated in the poll, of which 72% disclosed that they’ve never purchased any crypto assets, including Bitcoin. This figure indicates that cryptocurrency investors in Russia significantly fall in the minority.
From the poll, there is still a great desire for potential crypto investment amid the larger population. About 31% of the participants disclosed their willingness to purchase crypto tokens over the next six months. While 30% indicated not having plans for future crypto investment, about 40% said they are still unsure about their stance on crypto investment.
Binance to Help South Korean City of Busan Grow Crypto Adoption, Develop Blockchain Ecosystem
Cryptocurrency exchange Binance announced Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan, located on the southeastern tip of the Korean peninsula, is the second largest city in South Korea with approximately 3.4 million residents.
“As part of the agreement, the city of Busan will receive technological and infrastructure support from Binance for the development of the city’s blockchain ecosystem and promotion of the Busan Digital Asset Exchange,” Binance explained.
Binance CEO Changpeng Zhao (CZ) said:
“We are happy to be working with the city of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts.”
Cryptocurrency exchange Binance announced Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan, located on the southeastern tip of the Korean peninsula, is the second largest city in South Korea with approximately 3.4 million residents.
“As part of the agreement, the city of Busan will receive technological and infrastructure support from Binance for the development of the city’s blockchain ecosystem and promotion of the Busan Digital Asset Exchange,” Binance explained.
Binance CEO Changpeng Zhao (CZ) said:
“We are happy to be working with the city of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts.”
Crypto.com accidentally transfers $10.5m to woman instead of $100
It took crypto.com more than seven months to realise the error.
The company accidentally entered an account number in the payment field instead of the $100 refund.
It happened in May last year, but the mistake was only discovered in a company audit just before Christmas.
When crypto.com tried to recover the money, the cash had already been moved and used to buy a multi-million dollar mansion.
But now a judge has ordered the property be sold, and the remaining money to be returned.
It took crypto.com more than seven months to realise the error.
The company accidentally entered an account number in the payment field instead of the $100 refund.
It happened in May last year, but the mistake was only discovered in a company audit just before Christmas.
When crypto.com tried to recover the money, the cash had already been moved and used to buy a multi-million dollar mansion.
But now a judge has ordered the property be sold, and the remaining money to be returned.
$ADA: Robinhood Adds Support for Cardano Ahead of Highly Anticipated Network Upgrade
Popular commission-free trading platform Robinhood, which allows users to buy a number of financial assets including equities, options contracts, and cryptocurrencies, has listed the popular smart contract platform Cardano ($ADA).
The platform now supports a wide number of cryptocurrencies after first launching its offering back in 2018, with BTC and ETH being the only cryptoassets available. It then added Litecoin and Bitcoin Cash, before adding several other tokens.
Robinhood’s listing announcement on social media implies Cardano was added to the platform in response to customer demand. Cardano’s ADA is now being actively traded on the platform, with the listing coming ahead of a major upgrade to the cryptocurrency’s network, the Vasil hard fork.
Popular commission-free trading platform Robinhood, which allows users to buy a number of financial assets including equities, options contracts, and cryptocurrencies, has listed the popular smart contract platform Cardano ($ADA).
The platform now supports a wide number of cryptocurrencies after first launching its offering back in 2018, with BTC and ETH being the only cryptoassets available. It then added Litecoin and Bitcoin Cash, before adding several other tokens.
Robinhood’s listing announcement on social media implies Cardano was added to the platform in response to customer demand. Cardano’s ADA is now being actively traded on the platform, with the listing coming ahead of a major upgrade to the cryptocurrency’s network, the Vasil hard fork.