Suresh Kumar, Walmart's CTO, spoke about the importance of cryptocurrencies in the payments industry. This and more news is in this handy daily roundup so you're always up to date with the latest developments in the crypto world.
Walmart's Suresh Kumar believes in cryptocurrencies
📍Walmart's CTO is confident in the future potential of cryptocurrencies and new technologies. Speaking at the Yahoo Finance All Markets Summit, Suresh Kumar, Chief Technology Officer at Walmart, expressed their confidence in cryptocurrencies as one of the greatest innovations of our times.
Kumar spoke about the important role that cryptocurrencies are playing and will play in the payments industry, especially linking it to social media and the Metaverse.
During his speech, Kumar highlighted that the payments sector is one of the main areas of disruption for cryptocurrencies. Walmart’s CTO assured that crypto assets “will become an important part of how customers transact,” as these digital assets allow for frictionless, cross-border payments to be sent or received. In addition to this, Kumar also highlighted that cryptocurrencies allow merchants to diversify their payment options.
Ripple boosts NFT ecosystem with $250 million
📍Ripple to boost NFT ecosystem with $250 million through its Creator Fund program. Some of the NFT-related projects that will benefit from the funds from its creator program are the platforms 9Level9 Productions and Capital Block, the NFT markets Anifie and Master, and others such as Avatars Maker, IP SYFR Projects and ThinkingCrypto.
The platform stated that it will support various projects in the non-fungible ecosystem focused on entertainment.
This is the second wave of projects that Ripple is benefiting from through its Creator Fund program, which began in April of this year. Ripple's ecosystem could integrate NFTs later this month through the XRP Ledger.
Novel, Web3 platform, comes to Shopify
📍Novel has launched an app for creating NFTs on the Shopify store. E-commerce platform Web3 has developed an app that allows its users to easily create or import NFTs of entry products, content and discounts into their stores. The app is available on the Shopify app store, one of the world's leading e-commerce platforms, which has also made its entry into the world of NFTs.
Shopify has a beta program called Tokengated Commerce, which allows its merchants to integrate NFT collections into their stores, making it easier for users and consumers to access these digital assets from the platform. Through this program, Shopify has launched various NFT collaborations, such as The Hundreds and Ledger and Doodles.
OECD proposes transparency framework for crypto transactions
📍The Organisation for Economic Co-operation and Development (OECD) has proposed a transparency framework applicable to cryptocurrencies. The body in charge of managing the economic and social policies of 38 states wants to improve the transparency of the decentralized cryptocurrency ecosystem, so it has presented a transparency framework with which it seeks to provide greater visibility to the transactions that occur with these digital assets.
The OECD's proposed transparency framework was presented in response to a request from the G20 to the organization to develop a framework that allows for the automatic exchange of information on crypto transactions between different countries.
Continue reading: The Ballon d'Or 2022 is an NFT
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