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Nvidia CEO: We’re “on the cusp of” a blockchain and NFT-enabled metaverse

Nvidia’s new Voyager campus is serving as a test ground for what it will look like when then Metaverse meets the physical world.

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One of the most powerful men in tech thinks that the metaverse — a term for a series of interlinked, persistent virtual worlds with self-contained economies — is just around the corner. 

One of the most exciting use cases for blockchain and NFTs, enthusiasts inspired by Neal Stephenson’s Snow Crash have long been hoping for a VR/AR world with a crypto-powered internal market. Now, however, Nvidia CEO Jensen Huang thinks the technology to make it happen is on our doorstep.

Speaking at the virtual Computex conference, Huang said that he “believe(s) we’re right on the cusp of” the metaverse and spoke glowingly of its potential, according to a transcript of a Q&A session he had with reporters — going as far as to say that users will one day use metaverses to “simulate the future.”

RELATED: Terra Virtua releases ‘Godzilla vs. Kong’ NFTs to coincide with movie release

“There will be AR versions, where the art that you have is a digital art. You own it using NFT. You’ll display that beautiful art, that’s one of a kind, and it’s completely digital. You’ll have our glasses on or your phone. You can see that it’s sitting right there, perfectly lit, and it belongs to you. We’ll see this overlay, a metaverse overlay if you will, into our physical world,” he said.

He noted that Nvidia is already using a VR version of Nvidia’s new office building to test these theories, a campus that the company has dubbed “Voyager.” Among the world’s largest manufacturers of GPUs, Nvidia used supercomputers to “simulate architecture” for Voyager, helping with design and ecological efficiency, and eventually the company will allow employees to attend work by wearing VR headsets from home and controlling robots to move about the physical office space, a joint VR/physical workplace hybrid.

“This building completely exists in VR. We designed it completely digitally. We’re going to build it out so that there will be a digital twin of this very physical building in VR. We’ll be able to simulate everything, train our robots in it. We can simulate how best to distribute the air conditioning to reduce the energy consumption […] We can simulate all of that in our digital twin, our building metaverse, before we deploy anything here in the physical world. We’ll be able to go in and out of it using VR and AR.”

Huang isn’t the only CEO who has weighed in on NFTs and the Metaverse as of late, though he’s certainly the most optimistic. In January Fortnite founder Tim Sweeney said that NFTs are the most “plausible” path towards a functioning metaverse, but for now they remain a “speculative mess.” 

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Source: https://cointelegraph.com/news/nvidia-ceo-we-re-on-the-cusp-of-a-blockchain-and-nft-enabled-metaverse

Blockchain

The GBA Annual Achievement Awards

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In April 2019, during the Guatemalan election, the people of Guatemala suspected that voting fraud had occurred. Since additional elections were scheduled for August 2019, citizens wanted assurance that there would be no fraud in the next election. That was the impetus for Fiscal Digital, a Guatemalan citizen volunteer organization, to utilize a public immutable blockchain for their elections. Against overwhelming opposition, the Organizer of Fiscal Digital, Carlos Toriello Herrerias, was successful in implementing a blockchain-based voting solution in Guatemala. Carlos was the winner of last year’s GBA Annual Achievement Award for Courage.

The Government Blockchain Association (GBA) is pleased to announce that the 2021 Annual Achievement Awards will be happening live in Washington DC, (9/30/2021) as part of Government Blockchain Week. Four awards will be presented in the areas of Leadership, Innovation, Social Impact and Courage. Nominations of individuals deploying exceptional blockchain use will come from around the globe. From securing land titling records, to self-sovereign medical records, to immutable and verifiable voting, blockchain is affecting every industry that transfers value. The winners of these awards are truly making a mark in history, and there is still time to nominate your colleague.

Winners will be awarded by MC Robert Levin of Emergingstar Capital, from a stage in Washington DC in front of a distinguished audience. Receiving a GBA Annual Achievement Award is a credential that can be listed on Linked In, resume’, and any other social media as a recognized global achievement. Do not miss this opportunity to promote the exceptional achievers in your circle. Nominate them for the GBA Annual Achievement Awards today.

Annual Achievement Awards nominations are open until August 15. Winners will be announced from stage in Washington DC on September 30th. All uses of blockchain technology are eligible.

Source: Palto

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Blockchain

Happy birthday Ethereum!

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Today marks the sixth birthday of the Ethereum network and Ether – the world’s second-largest digital asset.

Ethereum was created by the crypto innovator Vitalik Buterin when the project was officially proposed in a white paper in late 2013.

The following January, a 20-year-old Buterin, headed down to the annual North American Bitcoin conference in Miami, Florida, clutching that white paper.

It’s there he met his Ethereum co-founders – a group of Canadian crypto evangelists who immediately saw the huge potential of Buterin’s idea.

Crammed into a little beach house, they invited Buterin to stay and turn his vision into reality.

Within six months, Vitalik had dropped out of the computer science program at the University of Waterloo, and moved out to Zug, Switzerland (now known as crypto valley) along with the rest of the group-turned-team.

The founding members of the Ethereum network included Gavin Wood (Solidity smart contract language creator), Anthony di Lorio (DeCentral founder), Joseph Lubin (ConsenSys founder), and Charles Hoskinson (Cardano founder).

After the completion of an $18m funding round in 2014, development begun and Ethereum slowly materialised as a viable decentralised network.

However, tensions between members set in and the team begun to unravel.

Charles Hoskinson was the first to go, many others would follow.

Today, only Buterin still works on the project.

After a period of successful testing on July 30, 2015 – the first block of Ethereum was mined and the Ethereum mainnet was launched.

The network has rapidly grown to become one of the most prominent components of DeFi and the crypto industry at large. However, a victim of its own success, gas and transaction fees have begun to slow.

This is why Ethereum is now preparing for an imminent scalability update to Ethereum 2.0.

Watch this space.

More crypto news and information

If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice

 

 

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Source: https://coinrivet.com/happy-birthday-ethereum/

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Blockchain

Binance to halt derivatives and futures trading in Europe

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Binance has officially halted futures and derivatives products offerings across the European region, commencing with Germany, Italy, and the Netherlands. 

The leading cryptocurrency exchange continues to limit products to users amid the ongoing challenges it faces from global regulators.

The move means users from these countries will not be able to open new futures or derivatives products accounts “with immediate effect”. 

Binance confirmed that if existing users have any open positions in these markets, they are advised to close them, noting that a further announcement would be made at a later date to confirm a 90-day period in which to close open positions.

Binance clarified the importance of European markets to their offerings and invited regulators to open a dialogue to discuss the requirements necessary at local levels. The discussion marks Binance’s continued efforts to collaborate with local and national regulators on the necessary requirements to operate in these areas.

“The European region is a very important market for Binance, and it is taking proactive steps towards harmonising crypto regulations, which is a positive sign for the industry,” wrote Binance in a tweet.

Binance also said it does “not actively market Futures and Derivatives Products locally” and that they plan to start “further scaling down” access to these products within Europe. 

The announcement follows Binance’s recent removal of high leverage trading products from its product offerings and a seemingly relentless wave of scrutiny and oversight from global regulators. 

Despite recent efforts to appease regulators by CEO Changpeng Zhao (CZ), Binance has been forced to delist certain margin trading pairs and cease trading and support for stock tokens like Tesla and Coinbase. Binance is also preparing to cut daily withdrawal limits from two Bitcoin (BTC) to 0.06 BTC in August.

Additionally, leading banking institutions and payment processors in the UK have started to limit transfers to and from Binance, citing “excessively high fraud rates” as a key reason for the decision. 

Binance has also been banned in Malaysia and given 14 days notice to shut down its operations. According to an announcement released today, the Securities Commission of Malaysia has issued public enforcement actions against Binance for “Illegally Operating in Malaysia.”

Binance has been given 14 business days from July 26 to comply. The order demands that Binance disables its website and mobile apps in Malaysia alongside ceasing “all media and marketing activities”.

The announcement also mandated Binance CEO Changpeng Zhao to ensure full compliance with the order. Malaysia’s securities regulator also urged citizens to desist from trading with crypto exchanges operating in the country illegally.

Binance-owned exchange WazirX is also being investigated by authorities in India to determine whether it was complicit in alleged money-laundering conducted by betting apps, which collected more than $134 million in the past 10 months. The Enforcement Directorate is investigating allegations that Chinese-operated betting apps laundered a portion of funds through WazirX.

CEO Changpeng Zhao remains optimistic about the future of Binance despite the recent regulatory issues faced by the exchange. He recently disclosed that Binance US, which operates separately from Binance, was looking to go public.

“Binance US is looking at the IPO route,” he said.

“Most regulators are familiar with a certain pattern or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen.”

 

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Source: https://coinrivet.com/binance-to-halt-derivatives-and-futures-trading-in-europe/

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PayPal to launch crypto trading in UK

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PayPal has announced an extension of its cryptocurrency trading platform to UK customers.

This is a significant change of tune by the company, whose former CEO Bill Harris described Bitcoin in 2018 as “a useless payment system, and a ridiculous store of value”.

Now, however, the electronic payment service has slowly begun integrating cryptocurrencies on a large scale, with the moves described as part of an incremental new strategy by new CEO Dan Schulman as he revealed details in his recent Q2 reporting call.

“We continue to be really pleased with the momentum we’re seeing on crypto,” he said.

“We’re going to launch, hopefully, maybe even next month in the UK, open up trading there.”

Trading of crypto assets such as Bitcoin (BTC), Ethereum (ETH), and LiteCoin (LTC) is planned to arrive for UK users by the end of August. Currently, PayPal allows cryptocurrency transactions up to $100,000.

However, PayPal retains control of user’s cryptocurrency in a move reminiscent of traditional centralised financial practices, with no mechanism for transfers to private wallets.

This leads to the ‘not your keys, not your coins’ argument.

Jose Fernandez da Ponte, Vice-President for Blockchains, Crypto, and Digital Currencies suggested this will be a future feature incorporated into the Venmo platform.

Venmo – an easy payment app owned by PayPal – has become a primary facilitator of cryptocurrency trading for the company. The app is popular in the United States, but has made little impact on the British market.

Schulman indicated that Venmo is preferential as it can be used easily in day-to-day commerce, also noting the app’s rapid growth to 70 million users and revenues in excess of 180%.

“We’re also seeing strong adoption and trading of crypto on Venmo,” he added.

“In this quarter, we expanded the Venmo value proposition to allow merchants and consumers to pay for goods and services.”

Crypto in commerce seems to be the predominate focus of PayPal, although its ‘super app’ will operate a centralised trading exchange, this is a competitive space with the likes of DashDirect launching earlier this week.

Automated Clearing House (ACH) sits at the core of PayPal’s market-dominating strategy, allowing vendors and merchants to set-up direct debits to user’s crypto wallets.

“We’re working right now on transfers to third-party wallets, and we really want to make sure that we create a very seamless process for taxes and tax reporting,” Schulman explained.

“And so we’re really looking at how do we integrate that into both the trading and the buy with crypto on our platform.”

Implementation of DeFi products into PayPal’s ecosystem is fundamental to the firm’s potential success in integrating commerce with mass adoption, a fact that doesn’t escape their CEO.

“How can we use smart contracts more efficiently?” he asked in the Q2 call.

“How can we digitise assets and open those up to consumers that may not have had access to that before?”

“There are some interesting DeFi applications as well. And so we are working really hard.”

Needless to say, PayPal’s moves on cryptocurrency are of huge significance for crypto adoption – with the platform representing an easy and widespread point of entry for new crypto users.

More crypto news and information

If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice

Disclaimer: We do not give advice on financial products.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coinrivet.com/paypal-to-launch-crypto-trading-in-uk/

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