Market research company Research and Markets highlighted the growing adoption of blockchain technology to boost sustainability and environmental governance projects. This and more news is in this handy daily roundup so that you are always informed with the latest events happening within the crypto world.
$77.000 Billion for the Global Blockchain Market by 2030
📍The perspectives of the report “Global Blockchain Technology Strategic Business Report”, by Research and Markets. The market research company highlighted that the focus on sustainability is driving the use and adoption of blockchain technology in environmental governance.
Sustainable industries and investments will become an unstoppable force in the next decade, said Research and Markets. Within this context, technology Blockchain will gain greater use and prominence thanks to its potential qualities.
The company noted that blockchain is presented as a genuine “digital enabler of sustainable infrastructure services” for the companies.
In addition to this, Research and Markets also highlighted that investments and innovation in the Blockchain industry continue unabated since 2020. The company estimates that by the next decade, the global blockchain technology market will reach a value of $77.000 billion, with a compound annual growth rate of 53,5%.
On the other hand, Research and Markets pointed out the important role that blockchain is playing in industrial transformation, especially in the pharmaceutical industry, healthcare and telemedicine, and even in the public sector, considering that many governments are beginning to adopt this technology to address their inefficiencies.
MakerDAO votes in favor of a new Constitution
📍One of the first constitutions of the digital world is approved. MakerDAO governance has approved its own constitution, a document designed to formalize the DAO governance process to mitigate potential security and ethical risks.
On Twitter, the DAO that governs the protocol of the decentralized finance ecosystem signaled the beginning of a new era.
The vote that gave the green light to the proposed DAO constitution ended with 76,04% of the votes in favor and 23,95% againstOnly 0,01% of MakerDAO governance voted to abstain on the proposal.
Silicon Valley Bank acquired by First Citizens
📍North Carolina-based bank holding company First Citizens Bank is taking over collapsed US lender Silicon Valley Bank. This was reported by the United States Federal Deposit Insurance Corporation (FDIC) in a release issued on Monday.
According to the FDIC, all Silicon Valley Bank customers and accounts have been transferred to First Citizens as of Monday. Additionally, all 17 Silicon Valley Bank branches have opened as First Citizens Bank.
The North Carolina-based bank reached an agreement with the FDIC to purchase and assume all deposits and loans from Silicon Valley Bank, which filed for bankruptcy on March 10.
Hong Kong banking system opens doors to crypto
📍Several Hong Kong-based banks are opening their doors to companies in the crypto industry. This was reported by Bloomberg, citing sources familiar with the matter. The business outlet noted that cryptocurrency companies are finding great support in the Hong Kong banking system, despite the bans imposed by China on the crypto industry since 2021.
According to Bloomberg, banks such as Bank of Communications, Bank of China and Shanghai Pudong Development Bank are offering services to cryptocurrency companies, which are arriving en masse to the city/state after it announced plans to become a major global innovation hub.
Microsoft, Nvidia and industrial digitalization
📍Microsoft and Nvidia team up to power the industrial metaverse. The collaboration between Nvidia and Microsoft will allow companies to connect the Omniverse platform, developed by Nvidia, to Microsoft 365 applications.
In a releaseNvidia highlighted that Microsoft Azure will host Nvidia DGX Cloud to power AI supercomputing. Additionally, Microsoft’s cloud computing platform will host Nvidia Omniverse Cloud to create and operate 3D worlds.
Through these services, both Microsoft and Nvidia aim to boost the development of the industrial metaverse, as well as other innovative applications. The goal is to help companies digitize all aspects of their business, Nvidia explained, so that they can “build and operate more accurate, dynamic and fully functional 3D digital twins” that meet their needs.
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