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Vitalik Tells CZ to Think Bigger: Crypto is More Than Just ‘Protest’ Money

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Ethereum co-founder Vitalik Buterin says the current financial crisis is very different to the 2008 Global Financial Crisis that Bitcoin emerged from — and that the crypto community needs to adjust its thinking accordingly. 

Writing in a Twitter thread on June 2, Buterin said that some of Bitcoin’s most dearly held  narratives had not been borne out this time around. 

Pandemic and protests

The Ethereum (ETH) co-founder said 2020 is not a repeat of the financial crisis in 2008/2009. Rather, he tweeted, it is a “virus crisis”, a crisis of “epistemology” and one of “overbearing policing”. 

He challenged the idea that the Bitcoin narrative around inflation was an important aspect of the current situation — not least because of the impending spectre of deflation:

“Yes, the money printer did go brrrrr. But that’s a relatively small portion of what is going on, and even there inflation is still going *down* not up.”

Buterin added another narrative — that Bitcoin and cryptocurrencies are uncorrelated to traditional assets —  had not been borne out so far. As proof, he showed a chart of the downturn in the S&P 500 in March, at the same time the value of Bitcoin and other digital currencies dropped more than 50%.

Get with the times

Buterin said it was high time the community moved beyond the mindset demonstrated in Binance Chief Executive Officer (CEO) Changpeng Zhao’s tweet that: “Bitcoin is the peaceful protest”

“I will come out and say this directly: this mentality below is *exactly* what we should be expanding beyond right now. REFORMING MONEY IS NOT SUFFICIENT.”

Alternative uses for crypto

But if crypto isn’t just about reforming finance, then what are some other appropriate use cases? Buterin said there were many categories of applications on Ethereum and other chains that go beyond finance:

“Decentralized censorship-resistant publishing and communication, decentralized communities / governance / DAOs, DAOs for content curation, etc etc. All important work.”

The Ethereum co-founder reiterated that old ideas are being swept away and the community needed to embrace this new reality:

“2016-20 is a period of ideological realignment,” said Buterin. “Many old ideologies and coalitions are dying, and many new one’s being born. The hills and valleys on the battlefields are shifting. The crypto space needs to be watching carefully and adjust to new realities.”

Source: https://cointelegraph.com/news/vitalik-tells-cz-to-think-bigger-crypto-is-more-than-just-protest-money

Blockchain

Here’s how Viberate plans to tokenize live performances

You might remember Viberate as the music tech startup with an incredibly successful 2017 ICO when they sold out their VIB tokens (available on Binance, Bittrex, OKEx, and Uniswap) in under five minute

The post Here’s how Viberate plans to tokenize live performances appeared first on AMBCrypto.

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You might remember Viberate as the music tech startup with an incredibly successful 2017 ICO when they sold out their VIB tokens (available on Binance, Bittrex, OKEx, and Uniswap) in under five minutes. Today, they’ve grown into full blockchain-based music research and analytics platform and have just announced another ambitious project: launching the first-ever live performance NFT.

With World’s first “live gig NFT”, Viberate will explore new ways for music artists to trade their work.

Teaming up with the Blockparty marketplace, Viberate plans to drop special NFTs featuring exclusive content by one of the company’s co-founders, world-renowned Techno DJ, and producer UMEK. Besides three original remixes of his track “Lanicor”, bidding will also be open on his live performance.

If the concept proves to be successful and gains traction in the industry, Viberate plans on providing the option of gig token minting to nearly half a million music artists in its database, along with minting artist ID NFTs through a secure verification process. These ID NFTs will then act as a certificate of authenticity, reassuring the buyer that the contents indeed come from a verified artist.

Matej Gregorcic, Viberate co-founder and CEO, explains their plan: “What we’re testing out is quite straightforward. Any artist in the Viberate database will have the chance to offer the right to their live performance in the form of an NFT. People, be it organizers or fans, then bid on that token. The highest bidder will be able to decide between cashing in the token, meaning that the artist will play at their event, or reselling the token.

The collected funds are held in escrow until the day of the show. Once the event starts and the artist goes on stage, the token holder burns the token. This way, with the help of blockchain, both parties are secured and payments can be handled safely and transparently. We believe that the opportunity to handle bookings through NFTs comes at a great time, as the live music industry was hit extremely hard during the pandemic, so all the artists out there are looking for new ways to make sure there’s a gig waiting for them once live events return.”

To mint their own gig NFT or create a verified ID NFT, a music artist will first need to create and claim their profile on Viberate. For each NFT minted, they will need to lock VIB tokens into a smart contract and set the terms of the performance together with the initial price. Once the NFT is sold, the VIBs will be burned. Should an artist burn their NFT themselves, their VIBs will be returned to them.

Viberate and UMEK’s NFT drop will launch on Blockparty on Thursday, April 29, 2021, at 8:00 pm GMT+1 (3:00 pm EST).

Disclaimer: This is a paid post and should not be treated as news/advice.


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Source: https://ambcrypto.com/heres-how-viberate-plans-to-tokenize-live-performances

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CLS Group Posts Uptick in March FX Volumes as Markets Remain Active

FX swap demand last month even crossed the record achieved by the company in March 2020.

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CLS Group, a major foreign exchange settlement provider, reported positive growth in trading activities in March across all offered forex instruments. The company posted an average daily traded volume of $1.977 trillion for the month, which is 1.8 percent higher than February’s numbers.

The increase in the demand can be seen across forward, swap, and spot FX markets, where the company is operating. The demand for FX swaps leaped the highest last month with around a 3 percent jump to $1.377 trillion from February’s $1.353 trillion. It was even higher than what the company recorded in March 2020 when the entire financial market saw extreme volatility due to the Coronavirus breakout.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

The forward and spot FX market also jumped higher by 2 percent each to $0.117 trillion and $0.483, respectively. However, the overall monthly figures remained lower than what the FX settlement provider reported a year ago.

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Following the Industry Trend

“In the first quarter of 2021, we witnessed record average daily traded volumes of USD1.95 trillion, demonstrating a consistent increase of FX market activity year-on-year,” said Keith Tippell, CLS’s global head of product. “This was despite a 10% decrease in overall volumes in the month of March 2021 compared to the record highs in March 2020, driven by the extreme market volatility relating to the COVID-19 pandemic.”

Tippell further elaborated that a significant portion of the FX demand was generated by two currency pairs, USD/JPY and USD/HKD, as both recorded a monthly uptick of 15 percent and 38 percent, respectively.

Meanwhile, the company is expanding its industry footprint with more and more partnerships. In the past few months, Capitolis and BGC Group tapped CLS to enhance their FX services.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/institutional-forex/execution/cls-group-posts-uptick-in-march-fx-volumes-as-markets-remain-active/

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Blockchain

CLS Group Posts Uptick in March FX Volumes as Markets Remain Active

FX swap demand last month even crossed the record achieved by the company in March 2020.

Avatar

Published

on

CLS Group, a major foreign exchange settlement provider, reported positive growth in trading activities in March across all offered forex instruments. The company posted an average daily traded volume of $1.977 trillion for the month, which is 1.8 percent higher than February’s numbers.

The increase in the demand can be seen across forward, swap, and spot FX markets, where the company is operating. The demand for FX swaps leaped the highest last month with around a 3 percent jump to $1.377 trillion from February’s $1.353 trillion. It was even higher than what the company recorded in March 2020 when the entire financial market saw extreme volatility due to the Coronavirus breakout.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

The forward and spot FX market also jumped higher by 2 percent each to $0.117 trillion and $0.483, respectively. However, the overall monthly figures remained lower than what the FX settlement provider reported a year ago.

Suggested articles

FBS Broker Updates its Trading Platform for Excellent PerformanceGo to article >>

Following the Industry Trend

“In the first quarter of 2021, we witnessed record average daily traded volumes of USD1.95 trillion, demonstrating a consistent increase of FX market activity year-on-year,” said Keith Tippell, CLS’s global head of product. “This was despite a 10% decrease in overall volumes in the month of March 2021 compared to the record highs in March 2020, driven by the extreme market volatility relating to the COVID-19 pandemic.”

Tippell further elaborated that a significant portion of the FX demand was generated by two currency pairs, USD/JPY and USD/HKD, as both recorded a monthly uptick of 15 percent and 38 percent, respectively.

Meanwhile, the company is expanding its industry footprint with more and more partnerships. In the past few months, Capitolis and BGC Group tapped CLS to enhance their FX services.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/institutional-forex/execution/cls-group-posts-uptick-in-march-fx-volumes-as-markets-remain-active/

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Chinese Police Confiscated $3.8 Million in Crypto After Arresting EOS Gambling dApp Team

$3.8 million in bitcoin and EOS seized in China from a team of developers operating a decentralized gambling platform built on the EOS blockchain.

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Chinese police officers have confiscated nearly $4 million in various cryptocurrencies after a raid against several developers that operated a decentralized gambling app built on the EOS blockchain.

$3.8 Million in Crypto Seized

After receiving tips of suspected illegal activity involving the developers of the dApp called Biggame, the Jiangsu police department opened an investigation. Ultimately, this led to the arrest of 15 people.

During the raid, the authorities found and seized 1.3 million units of EOS and BTC. Converted in fiat currencies, this amount equals 26 million yuan or $3.8 million.

According to the report, this is the first criminal case the police solved in connection with illegal online gambling inside China.

The dApp’s structure allowed it to attract players to games such as Dice and Texas Hold’em. The customers placed their bets using EOS smart contracts.


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The Chinese officials reported that in the period between June 2018 and December 2020, the group behind the dApp allegedly gained profits from the operations with crypto assets worth 60 million yuan or about $10 million.

It’s not the first time Chinese police go after fraud related to blockchain-based applications and platforms. As reported last year, the authorities arrested 109 people connected with the cryptocurrency pyramid scheme PlusToken. The well-known Ponzi scheme has defrauded investors of more than $5.7 billion.

”Internet Cleansing Movement”

The biggest economy in Asia – China – appears to be one of the leading countries regarding cryptocurrency mining and distribution but has also had tons of experience with illicit activities coming within its borders.

The arrest in Jiangsu highlights the Chinese law enforcement’s goal to neutralize any illegal online activities – from gambling and telecommunication fraud to money laundering. The mission was referred to as ”Internet cleansing movement.”

Furthermore, the end of last year saw an increasing number of court rulings in this field. According to the officials, nearly 100 individuals have been convicted for laundering money via crypto deals that involved more than $30 million worth of the most widely utilized stablecoin – Tether (USDT).

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/chinese-police-confiscated-3-8-million-in-crypto-after-arresting-eos-gambling-dapp-team/

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