Connect with us

Blockchain

What Happens If the US Loses the Blockchain War?

Avatar

Published

on

While Mark Zuckerberg was fighting with the United States Congress over Facebook’s Libra, China took another step forward in the global technology race. President Xi Jinping called on his country to “seize the opportunity” in order to become a leader in blockchain technology as it tries to do likewise with artificial intelligence.

This could be an opportunity for China, which has already become the world’s leading trading nation, to stand up to the first economic world power and flex its muscles. But how significant is this move, and what happens if China really wins the blockchain race? “For the Chinese, digitizing the renminbi is a way to get out from under the U.S.’s thumb,” said Eswar Prasad, an economics professor at Cornell University and former head of the IMF’s China Division. China’s goal isn’t necessarily to overthrow the dollar either. Prasad added, “but they want to give their allies an alternative to the dollar and create a system that couldn’t be disrupted by the U.S.”

Blockchain: The technological democracy

Satoshi Nakamoto introduced Bitcoin in October 2008 in response to the financial crisis and as an alternative to banks. As the currency was gaining popularity, the underlying technology quickly became a model for creating the so-called trustless systems. “Blockchain allows the tracking of various transactions ensuring immutability and incorruptibility of such records,” explained Raja Sharif, a qualified U.K. barrister and CEO of FarmaTrust, a company that tracks medical supplies via blockchain, in a private interview. He continued:

“Blockchain can be used for cryptocurrencies such as Bitcoin but can also be used for other purposes e.g. supply chain management, land registries, record keeping, and other transaction management.”

The trustless, almost hackproof and identified transactions that blockchain provides caused many to call it Web 3.0 or “the next internet.” Sharif added:

“China has clearly decided that blockchain and artificial intelligence technologies are important to help her reach a global dominant commercial position. It is easy to see why they would want to focus on these technologies… Once one can ensure data integrity, AI capabilities and results can be much better and trusted. These two advantages can help China accelerate its strategic imperative of trade dominance.”

Of course, China is still far from public, trustless systems. The country has only welcomed private and much more restrictive blockchains while still being at odds with cryptocurrencies. But this move could make China’s renminbi the preferred currency for trading ー cross-border, online and eventually, offline. Since the sham-communist, practically capitalist regime still sticks to centralized methods of ruling, like the iron repression of dissidents and pure censorship, leading a decentralized revolution remains a philosophical question.

Related: 2019 to 2020: The Insiders, Outsiders and Experimenters in Crypto Regulation, Part 2

What’s at stake

Blockchain projects have struggled for real-life use. Other than generating new “overnight millionaires,” they have not offered a service the world could not live without. Bitcoin remains the most popular blockchain tech by market cap, while some projects claim they are two generations more advanced, introducing features like smart contracts and scalability. This underlines the importance of adoption: It’s not necessarily the more advanced tech that wins, but how much people believe in the project and actually use it.

That’s what made Libra an alarming development, and many countries actively opposed it. It has the potential to onboard billions of people and make crypto mainstream overnight ー a dream many crypto enthusiasts have been waiting for. Now, China is in a similar position, but this time it would be China’s yuan and blockchain.

With China taking the lead, the U.S. dollar would be undermined. It will not be as easy for U.S. regulators to halt a Chinese blockchain as it was for them to block Libra or Telegram’s ICO. Just as we saw during the trade war, blocking Huawei from U.S. markets did not stop China’s race for 5G superiority. But more important than losing the dollar’s hegemony is losing the domination of our values.

When it comes to international technological battles, the cold war has taught us a valuable lesson. The space race between the U.S. and the USSR wasn’t about who’s going to land on the moon first. Rather, it was a struggle of values deep down in people’s hearts and minds.

Decay

The internet was mainly built on western values: openness and democracy. This allowed the U.S. to take the jump on its competitors and dominate the global market. As China becomes more of an industrial and technological superpower, its influence is forcing western companies to play by its rules.

Google, once loved for advocating open access and fighting censorship, secretly worked on a Chinese version of its search engine called Dragonfly, and thus became a tool of the Chinese government to filter out human rights-related search results and websites. Activision-Blizzard, a popular game development company, punished a gamer who had expressed support for pro-democracy protests in Hong Kong. This makes sense, since the Chinese giant Tencent owns a share of Activision-Blizzard.

While both examples cited above were pulled back to some degree after facing heavy backlash, the worrying trend persists. The NBA felt the pain after Houston Rockets General Manager Daryl Morey tweeted in favor of the Hong Kong protests, which resulted in all 11 of the NBA’s official Chinese partners suspending ties, threatening the league to lose at least 10% of its revenue. Subsequently, LeBron James, who was praised for his advocacy for the Black Lives Matter movement, called Morey misinformed, a position which backfired on the NBA star. As long as short-term gains are favored over strategic benefits, we can expect more decay in western values. So, the question still remains: Are we dealing with a technological race or the balance of power?

For the sake of liberty

It is unrealistic to expect companies, in general, to turn down huge profits. However, better cooperation between the public and private sectors could be a good start. The administration’s inaction and the regulators’ continuous skepticism without any determination to address the inevitable are not stopping the bad actors or our adversaries from taking advantage of the unregulated. Failing to do so, particularly when it comes to blockchain technology, would leave the doors open for China to win the race and not only affect the economy but also our principles.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Paul McNeil is a tech analyst specializing in the political and moral perspectives of today’s innovative world. His articles have appeared on various websites, including the Huffington Post. Currently, he is focused on building a flagship product under his stealth-mode startup, Blue AI.

Source: https://cointelegraph.com/news/what-happens-if-the-us-loses-the-blockchain-war

Blockchain

DOGE Co-founder Reveals the Reasons Behind its Price Rise

Avatar

Published

on

Table of Contents

Rate this post

Billy Markus, who created Dogecoin back in 2013 with Jackson Palmer has taken to Twitter (where he dwells as “Shibetoshi Nakamoto”) to share his take on the recent Dogecoin rally.

According to him, the Dogecoin market is hugely driven by emotion and sentiment. The price of DOGE in the market is moved by people’s decisions, made for their own personal reasons.

What is Moving the Price of Dogecoin in the Market? Co-founder Answered

Billy Markus developed the meme-coin DOGE back in 2013 as an imitation of Bitcoin back. The Dogecoin that was changing hands as low as $0.0026 last month is now sitting at $0.61. According to the statistics, DOGE is the fourth digital asset of the market. 

In his recent interviews with Bloomberg the founder and CEO of Galaxy Digital, Mike Novogratz, stated that,

“Dogecoin may be favored by millennials and generation Z since buying it is similar to showing the middle finger to the system. This is reminiscent of the craze over Gamestop shares.”

However, he cautioned against Dogecoin, stating that 

“There are no development upgrades for this coin, nor is there any money from financial institutions going into it.”

DOGE Wave Take Further Rise This Year

DOGE has always been seen as Elon Musk’s favorite. A significant price surge can be seen due to Elon Musk Tweets.  

The “DOGE influencer” was the first one to call it the “people’s currency,” then promised to put “literal DOGE on the literal Moon” via SpaceX. 

From the latest, Musk is preparing to make an appearance on “Saturday Night Live,” i.e. Today this weekend.

According to reporter Kate Rooney

“The newest DOGE investors particularly see Musk’s tweets as the main price pumper of the meme-coin. DOGE is making its way into online gambling markets as people are making bets about what Musk will talk about on SNL and whether it will be his favorite Shiba-Inu cryptocurrency.”

READ  Elon Musk Admits Bitcoin Cash Offers Much Lower Fees than Bitcoin

#DOGE co-founder Billy Markus #Dogecoin (DOGE) #Elon Musk DOGE support

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/doge-co-founder-reveals-the-reasons-behind-its-price-rise

Continue Reading

Blockchain

JOSÉ FONTE AND EDER BECOME THE FIRST FOOTBALLERS IN THE WORLD TO LAUNCH NFTs

Avatar

Published

on

EURO 2016 champions have produced unique and authentic digital art pieces
to be auctioned online starting today
Lisbon, 7 May 2021 – European champions and Portuguese Internationals José Fonte
and Éder are the first two footballers worldwide to launch their own Non-Fungible
Tokens (NFTs), creating unique and authentic digital art pieces that will be auctioned
online. The two NFTs were made in partnership with Jedi3 and part of the revenues
raised through the auction will revert to social and community support. The creations
will be auctioned on the well-known platform of NFTs, OpenSea, starting today and
can be found here:
https://opensea.io/collection/eder-lopes-2016-european-champion
https://opensea.io/collection/jose-fonte-2016-european-champion
The creative concept of both pieces was developed by the athletes themselves together with
the project Jedi3. Fonte focused his illustration on his career path and all the obstacles he
had to overcome in order to become an international player and win EURO 2016. Eder’s
piece is a digital creation of the boot he used to score the winning goal for Portugal in the
final of the European Championship against France.
In this first launch, there will be:
● 10 limited digital editions of Éder’s right boot that scored the Euro final goal, in a
digital 3D version;
● 10 limited digital editions of an illustration that represents the path followed by José
Fonte until the title in the Euro;
● Furthermore, a “masterpiece” of Éder’s boot that will give the right to the digital item
plus the real boot he used to score the winning goal in the final.

The auction started today on the Open Sea platform and will last for a week and all
transactions will be made in Ethereum cryptocurrency. Fonte and Eder follow in the footsteps
of NFL and NBA players who have already participated in the creation of NFTs.
José Fonte talked about the launch: “Everybody follows what is going on in the US with
NFTs, and I’ve been following it too for the last few months. Some of my favourite people are
exploring this new world, this new connection with the fans. I tried to explore this connection
with the fans, to give them something that is new and authentic. This creation means a lot to
me, because the story of it is about my career, about what I’ve been through in my life. It’s
about resilience, showing determination and never giving up and showing that anything is
possible with hard work. I’m excited. I want the fans to be open minded. First of all, it’s for a
good cause as well. Part of the money will go into some foundations and institutions that we
want to help. We want to give something back to the
people, which is really important to us.”
Eder showed all his enthusiasm about this project: “It’s a fantastic world. It’s been booming
in the US because of the NFTs that have been created in the NBA. José Fonte and I expect
to be the first football players to launch an NFT in the world. An NFT is unique, has value for
the person that creates it, it’s art and I think that has a lot of value for the fans. We’ve
participated in a big victory at the Euros and I know our fans will be amazed by a creation
like this. My creation means a lot to me and to Portugal. It’s the boot that scored the winning
goal at the final and it’s really important to me. It’s something that the football fans will
appreciate. Another important reason is helping an institution that we will give part of the
funds to. It’s something important to do and a big step.”
Part of the profits from the auction of each of the pieces will revert to charities and
community institutions. Éder will benefit PAJE – platform of support to young former foster
children, association of which he is godfather and partner. Regarding José Fonte, the focus
will be the community of Penafiel, where he was born, by donating funds to the local
Firefighters corporation, where his grandfather was the 2nd Commander, to the ERPI –
Estrutura Residencial para Idosos de Penafiel, and the APADIMP – Associação de Pais e
Amigos dos Diminuídos Mentais de Penafiel. The Lille central defender will also donate
funds to support football in Portugal to institutions yet to be defined.
For João Matos Cruz, from Jedi3, “this project is born from the fusion of diverse interests of
a group of friends: football, blockchain and digital art. In a context where the technology of
distributed registration allows to protect, authenticate and promote, for example, artists’
work, or relevant moments, we felt it was time to give visibility, in the digital world, to two
iconic figures in the history of Portuguese football: Éder Lopes and José Fonte. In the first
case, through the boot with which he scored the goal of the Euro 2016 final, as a
masterpiece of a moment of collective transcendence. In the case of José Fonte, illustrating
his path that was also one of overcoming, of constant struggle against adversity, until the
final consecration as European champion.”
What are NFTs?
A non-fungible token (NFT) is a type of cryptographic token on a blockchain, which
represents a unique asset. They can be fully digital assets or tokenized versions of
real-world assets. As NFTs are not interchangeable with each other, they can act as proof of
authenticity and ownership in the digital realm.
There are numerous success stories of sportsmen or sports-related individuals who have
launched their own NFTs in recent months in the US. The mythical quarterback Tom Brady
will even launch a platform for the creation and sale of NFTs called “Autograph” where he
promises to bring together several well-known names from the music, fashion and
entertainment industries. Those who have already launched their own NFT’s include Patrick
Mahomes, the 2020 NFL champion and Zion Williamson, one of the NBA’s most promising
stars.
The value of an NFT derives from the story that is told, what gave rise to the NFT and who
actually issued it. It is a certificate of authenticity per se, identified by a unique,
non-falsifiable “contract address”.
The technology used for this purpose, blockchain, thus allows a direct and decentralised
interaction between athletes and their digital admirers / followers. In this case, these players
become stars, also, in the digital world, directly launching tokens, whose artistic and
authentic character, guarantees their buyers a unique collector’s item.

Continue Reading

Blockchain

JOSÉ FONTE AND EDER BECOME THE FIRST FOOTBALLERS IN THE WORLD TO LAUNCH NFTs

Avatar

Published

on

EURO 2016 champions have produced unique and authentic digital art pieces
to be auctioned online starting today
Lisbon, 7 May 2021 – European champions and Portuguese Internationals José Fonte
and Éder are the first two footballers worldwide to launch their own Non-Fungible
Tokens (NFTs), creating unique and authentic digital art pieces that will be auctioned
online. The two NFTs were made in partnership with Jedi3 and part of the revenues
raised through the auction will revert to social and community support. The creations
will be auctioned on the well-known platform of NFTs, OpenSea, starting today and
can be found here:
https://opensea.io/collection/eder-lopes-2016-european-champion
https://opensea.io/collection/jose-fonte-2016-european-champion
The creative concept of both pieces was developed by the athletes themselves together with
the project Jedi3. Fonte focused his illustration on his career path and all the obstacles he
had to overcome in order to become an international player and win EURO 2016. Eder’s
piece is a digital creation of the boot he used to score the winning goal for Portugal in the
final of the European Championship against France.
In this first launch, there will be:
● 10 limited digital editions of Éder’s right boot that scored the Euro final goal, in a
digital 3D version;
● 10 limited digital editions of an illustration that represents the path followed by José
Fonte until the title in the Euro;
● Furthermore, a “masterpiece” of Éder’s boot that will give the right to the digital item
plus the real boot he used to score the winning goal in the final.

The auction started today on the Open Sea platform and will last for a week and all
transactions will be made in Ethereum cryptocurrency. Fonte and Eder follow in the footsteps
of NFL and NBA players who have already participated in the creation of NFTs.
José Fonte talked about the launch: “Everybody follows what is going on in the US with
NFTs, and I’ve been following it too for the last few months. Some of my favourite people are
exploring this new world, this new connection with the fans. I tried to explore this connection
with the fans, to give them something that is new and authentic. This creation means a lot to
me, because the story of it is about my career, about what I’ve been through in my life. It’s
about resilience, showing determination and never giving up and showing that anything is
possible with hard work. I’m excited. I want the fans to be open minded. First of all, it’s for a
good cause as well. Part of the money will go into some foundations and institutions that we
want to help. We want to give something back to the
people, which is really important to us.”
Eder showed all his enthusiasm about this project: “It’s a fantastic world. It’s been booming
in the US because of the NFTs that have been created in the NBA. José Fonte and I expect
to be the first football players to launch an NFT in the world. An NFT is unique, has value for
the person that creates it, it’s art and I think that has a lot of value for the fans. We’ve
participated in a big victory at the Euros and I know our fans will be amazed by a creation
like this. My creation means a lot to me and to Portugal. It’s the boot that scored the winning
goal at the final and it’s really important to me. It’s something that the football fans will
appreciate. Another important reason is helping an institution that we will give part of the
funds to. It’s something important to do and a big step.”
Part of the profits from the auction of each of the pieces will revert to charities and
community institutions. Éder will benefit PAJE – platform of support to young former foster
children, association of which he is godfather and partner. Regarding José Fonte, the focus
will be the community of Penafiel, where he was born, by donating funds to the local
Firefighters corporation, where his grandfather was the 2nd Commander, to the ERPI –
Estrutura Residencial para Idosos de Penafiel, and the APADIMP – Associação de Pais e
Amigos dos Diminuídos Mentais de Penafiel. The Lille central defender will also donate
funds to support football in Portugal to institutions yet to be defined.
For João Matos Cruz, from Jedi3, “this project is born from the fusion of diverse interests of
a group of friends: football, blockchain and digital art. In a context where the technology of
distributed registration allows to protect, authenticate and promote, for example, artists’
work, or relevant moments, we felt it was time to give visibility, in the digital world, to two
iconic figures in the history of Portuguese football: Éder Lopes and José Fonte. In the first
case, through the boot with which he scored the goal of the Euro 2016 final, as a
masterpiece of a moment of collective transcendence. In the case of José Fonte, illustrating
his path that was also one of overcoming, of constant struggle against adversity, until the
final consecration as European champion.”
What are NFTs?
A non-fungible token (NFT) is a type of cryptographic token on a blockchain, which
represents a unique asset. They can be fully digital assets or tokenized versions of
real-world assets. As NFTs are not interchangeable with each other, they can act as proof of
authenticity and ownership in the digital realm.
There are numerous success stories of sportsmen or sports-related individuals who have
launched their own NFTs in recent months in the US. The mythical quarterback Tom Brady
will even launch a platform for the creation and sale of NFTs called “Autograph” where he
promises to bring together several well-known names from the music, fashion and
entertainment industries. Those who have already launched their own NFT’s include Patrick
Mahomes, the 2020 NFL champion and Zion Williamson, one of the NBA’s most promising
stars.
The value of an NFT derives from the story that is told, what gave rise to the NFT and who
actually issued it. It is a certificate of authenticity per se, identified by a unique,
non-falsifiable “contract address”.
The technology used for this purpose, blockchain, thus allows a direct and decentralised
interaction between athletes and their digital admirers / followers. In this case, these players
become stars, also, in the digital world, directly launching tokens, whose artistic and
authentic character, guarantees their buyers a unique collector’s item.

Continue Reading

Blockchain

Crypto.com Now Enabling Cosmos’ Inter-Blockchain Communication Functionality for Cross-Chain Transfers

Avatar

Published

on

Hong Kong-based Crypto.com announced on Thursday it is now enabling Cosmos’ Inter-Blockchain Communication (IBC) functionality for cross-chain transfers. According to Crypto.com, According to the duo, this integration creates new capabilities for future cross-chain implementations of the Crypto.org Chain and other IBC-enabled chains. 

The integration allows for the transferring and receiving of assets (tokens) and data using the ICS20 standard on the Crypto.org Chain Mainnet.  IBC assets will be available in the Bank module of the Crypto.org Chain, and CRO on other IBC-enabled chains.”

Cosmos and Crypto.com further revealed as part of its development on IBC, the project will create a bridge between Crypto.org Chain to Ethereum protocols, bringing on board Ethereum developers as innovative projects to the Crypto.org Chain ecosystem. Sharing more details about the integration, Eric Anziani, COO of Crypto.com, stated:

“The Inter-Blockchain Communication Protocol (IBC) enables self-sovereign networks to connect, which will lead to building a strong ecosystem of networks thanks to the flexibility and open nature of IBC. The IBC launch marks the end of “network tribalism”. It also aligns with one of Crypto.org Chain’s goals of building  an open ecosystem — one that is welcoming to and supported by innovative projects, including Payments, DeFi and NFT initiatives.”

Founded in 2016, Crypto.com serves over 10 million customers today with its crypto app, along with the Crypto.com Visa Card, the Crypto.com Exchange, and Crypto.com DeFi Wallet.

“Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175098-crypto-com-now-enabling-cosmos-inter-blockchain-communication-functionality-for-cross-chain-transfers/

Continue Reading
Blockchain2 hours ago

DOGE Co-founder Reveals the Reasons Behind its Price Rise

SaaS2 hours ago

SaaS2 hours ago

SaaS2 hours ago

SaaS2 hours ago

SaaS2 hours ago

Coinpedia3 hours ago

Analyst Predicts the Future of Dogecoin and XRP! Says XRP Price Will Pump the Hardest!

Fintech3 hours ago

The Spanish fintech Pecunpay strengthens its position as a leader in the issuance of corporate programs

Blockchain3 hours ago

JOSÉ FONTE AND EDER BECOME THE FIRST FOOTBALLERS IN THE WORLD TO LAUNCH NFTs

Blockchain3 hours ago

JOSÉ FONTE AND EDER BECOME THE FIRST FOOTBALLERS IN THE WORLD TO LAUNCH NFTs

Esports3 hours ago

Best Talon build for League of Legends season 11

Business Insider3 hours ago

Green drive scales new peaks

Energy3 hours ago

PNM and AVANGRID Formally File New Mexico Stipulation with Additional Parties

Business Insider3 hours ago

PNM and AVANGRID Formally File New Mexico Stipulation with Additional Parties

Esports4 hours ago

TFT Patch 11.10 preview showcases large number of buffs

SaaS4 hours ago

SaaS4 hours ago

SaaS4 hours ago

SaaS4 hours ago

SaaS4 hours ago

Cleantech4 hours ago

What We Know About Tesla’s “Bobcat Project”

Aviation4 hours ago

407 Squadron defends Canada for 80 years

Aviation4 hours ago

United Airlines Uses The Crisis To Diversify Latin American Network

Aviation4 hours ago

The Shaunavon Airport to Receive Provincial Funding

Crowdfunding4 hours ago

UK Finance, Which?, City of London Police Sign Letter Asking Government to Add Online Scams to “Online Safety” Bill

Aviation4 hours ago

Airline industry group wants Ottawa to follow U.K.’s lead, help bring in restart plan

Blockchain5 hours ago

Crypto.com Now Enabling Cosmos’ Inter-Blockchain Communication Functionality for Cross-Chain Transfers

Crowdfunding5 hours ago

Enterprise Grade Blockchain IOST Partners Moonstake to Support Crypto Staking of IOST Coin

AR/VR5 hours ago

First VR Film Shot Aboard ISS Available On Oculus Venues

Cleantech5 hours ago

Tesla Cybertruck On Display In Manhattan

Trending