Social media platform and news aggregator Reddit is testing a new feature that will allow its users to set any NFT to their profile photos. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍Reddit joins the social networks that want NFTs and the possibility of integrating them into its platform appears. News aggregator and social network Reddit has spoken about its interest in NFT, noting that it could allow its users to use the non-fungible tokens as profile photos on its platform, very soon. Reddit spokesperson Tim Rathschmidt said to Tech Crunch that the platform is already testing a feature that will allow its users to configure any NFT on their profiles, but that there is no final decision on its implementation yet.
“We are always exploring ways to provide value to users and communities on Reddit. “Right now, we are testing the ability to use NFTs as profile pictures (avatars) and verify ownership.”Rathschmidt revealed.
📍For Ark Invest, Bitcoin and Ethereum will grow 2.000% and 6.000% in the next 10 years. The asset management firm founded by Cathie Wood in 2014 believes that the price of Bitcoin and Ethereum, currently the cryptocurrencies, most important in the crypto ecosystem by capitalization, will reach a price of $1.000.000 and $180.000 dollars per unit, respectively, in the next 10 years. Ark Invest made these observations in its “Big Ideas 2022” report.
CBDC and Central Banks
📍The Bank for International Settlements will prioritize CBDCs and DeFi in 2022. The BIS announced this week that it will support new initiatives and projects focused on DeFi and CBDC, to drive innovation. In your release, the bank specifies that new technologies will form an important part of the services of central banks, so it will focus on developing new technological public goods for them.
Also, the financial organization noted that it will focus on crypto regulation, supervision and cybersecurity, to support global efforts, such as those promoted by the Group of 20 (G20), that seek to improve cross-border payments through CBDCs. .
Miners
📍Green Data Chain, the Spanish miner that uses biogas to extract bitcoins on the network. The Green Data Chain mining farm, located in Catalonia (Spain), is attracting media attention for its method of mining bitcoins. In their facilities, ASIC miners operate with electrical energy generated from biogas; a type of gas derived from animal manure, such as pigs.
According to studies, the manure of an adult pig is capable of producing 0,3 kilowatts/hour of energy, so Green Data Chain is taking advantage of this clean, renewable and efficient source to sustain its operations within the largest blockchain network in the world.
Green Data Chain has managed to operate 16 Bitcoin miners, mining cryptocurrencies on the network with zero carbon emissions.
Cybersecurity
📍According to a study by Chainalysis, cybercriminals are using DeFi to launder money, although the figure is still tiny. Blockchain forensics firm Chainalysis published a report pointing out the role that DeFi protocols are taking on within financial crimes, such as money laundering. According to the firm, the use of decentralized protocols is increasing among malicious actors, who want to hide their misdeeds from the public eye and the authorities.
However, despite the increase in illicit activity in decentralized finance protocols, the analysis firm highlights that it is centralized services that process the majority of money laundering transactions that currently occur in the cryptocurrency industry. . In 2021, cybercriminals laundered nearly $8.600 billion in crypto assets, according to Chainalysis; 21% less than in 2019.
Rules and Regulations
📍The Russian Ministry of Finance proposes regulation for cryptocurrencies in the country. Following statements by Ivan Chebeskov, an official at the Russian Ministry of Finance, the government body has presented a formal proposal to regulate the cryptocurrency industry. The regulatory proposal of the Russian Ministry seeks to allow citizens and companies to make transactions with cryptocurrencies and access related financial services through banks, according to he highlighted the Russian media RBC.
Just like reported Bit2Me News, the Central Bank's plans to ban the entire crypto industry found opposition in the Russian Ministry of Finance and the country's president, Vladimir Putin, who asked his senior officials not to forget the competitive advantages that Russia has to lead the crypto mining, calling for a consensus for the regulation of this industry.
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