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Ether Anticipates a Grand “Merge” and Hopes to Beat Bitcoin

By
Adam Barry
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0

Several crypto watchers have been discussing the melding of  Ethereum’s EH1 chain with a new chain. The anticipated outcome would be the creation of ETH2. These crypto watchers had the right focus, but they got it wrong at the right timing. A cloud of uncertainty clouds the matter, and it is complex to decipher when it eventually happens.

The merge may happen later this year

The crypto watchers admit they were wrong about how matters would play out, but they are still optimistic. They believe the merge may happen any time this year. Ether’s market capitalization is a worthy subject of discussion, and it currently stands at $363 billion. The mentioned figure happens to be half bitcoin.

Market statistics indicate that the combination of the market capitalization of the two makes up 60% of the crypto market. The challenge is how bitcoin poses as an investment. Most market analysts opine that it has remained a sort of investment with serious limitations. For example, it isn’t the right one to turn to for anyone that wants to use it for contracts in decentralized finance applications.

The flippening concept

The above point leaves a lot to ponder for analysts and other interested persons. For instance, many investors strongly believe that flipping the market is something inevitable. These analysts refer to the phenomenon as “the flippening” in crypto circles. They affirm that the merge serves as a catalyst that will push Ethereum a notch higher and cause it to become the dominant platform.

There is a lot to say considering the changes sweeping across. For example, it is easy to see that Ether is determined to do better. The plan is to push out of the way the various crypto rivals. If all moves according to plan, it might even beat bitcoin, which is the godfather. However, time seems to be moving fast, yet it hasn’t succeeded in the merge.

Ether is the No.2 cryptocurrency, and many crypto enthusiasts have been looking forward to seeing it undertake the transformative upgrade. It should be two weeks away from the upgrade, making it cheaper and faster, but it might take longer.

Brazil’s Senate Pushes for a Bitcoin Law to Regulate the Crypto Segment

By
Adam Barry
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0

Brazil is in a historical moment, and that is because of the far it has gone with its plan to regulate the crypto market. The country’s Senate approved the first bill to govern cryptocurrencies. The senators passed the bill in a  plenary session. The country looks forward to great times ahead where the Senate’s act culminates in establishing a regulatory framework to control the crypto segment.

The approval process

The approval process must follow several legal procedures. For instance, the Chamber of Deputies approves before the bill is pushed to President Jair Bolsonaro. The president signs it off before it becomes an operational law in the country. The plan is for the process to be completed before the year ends.

Senate President Rodrigo Pacheco was the leader that chaired the session, and he had several remarks to make afterward. He expressed his gratitude to Senator Irajá, who was the rapporteur of the project. He believes it was a special bill for the country and the crypto community. It was back in 2015 that Federal Deputy Aureo Ribeiro, for the first time, expressed his desire for the Senate to approve the bill.

A serious deliberation on the bill caused the Senate to approve it on Tuesday. The Senate considered Senator Arns’s bill PL 3825/2019 and then combined it with Ribeiro’s in their determination on what to do.  It happned that Irajá Abreu was the rapporteur.

The role of the executive branch

The lengthy session helped pave the way forward for the bill. The Senate decided to entrust the country’s executive branch with the process of formulating rules to guide crypto-assets. The executive branch would gain the power to put in place a new regulator. The other way would be to delegate its power. It would choose who to delegate the power to between the Central Bank of Brazil (BC) and the Exchange Commission (CVM).

Several senators took advantage of the session to express their opinions on what needed to be done to deal with the fraud menace. One of the people who aired out their ideas was the bill’s author, Senator Arns. The leader wanted the Senate to determine the most appropriate penalties for those apprehended over crypto crimes.

Collaboration between Flare and Algorand to Facilitate Bitcoin Bridge Development

By
Adam Barry
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0

Layer-1 protocol Flare is pleased about its new collaboration with Algorand Foundation. It believes the partnership is essential for creating a bridge for  Algorand. The plan is to push for establishing trustless interoperability between BTC and ALGO. The other things that pull along with the non-smart contract tokens include XRP, LTC, DOGE, and XLM.

The essence of cross-chain interoperability

Flare Layer-1 protocol speaks openly about the anticipated outcomes and emphasizes the essence of delivering cross-chain interoperability. It hopes to develop a technology that connects almost everything and also one that guarantees users the security of multi-chain. The Flare Time Series Oracle Corporation (NYSE: ORCL) will support the development of the Flare bridge.

The network is in a better place as a result because it received an Algorand Foundation Bridges SupaGrant as an award. It is a development that puts Flare in a better position because it will easily develop a Bitcoin bridge which will significantly support the growth of the  Algorand ecosystem.

The Head of DeFi at Algorand Foundation called, Daniel Oon is pleased with the latest development. He applauds the latest partnership with Flare and welcomes it to the Algorand ecosystem. He expresses great optimism about the grant partnership, enabling them to set up excellent DeFi infrastructure.

Leaders’ perspectives

It will be a sort of infrastructure that establishes a bridge to Bitcoin. The leader hopes the efforts will open up opportunities for further innovation and collaboration. He hoped that the partnership would benefit respective communities in presenting significant value to them.

Flare focuses on the delivery of secure universal interoperability and seeks to develop flexibility with the capacity to handle any two chains. It has been keen on adopting composable technologies to support its operations. It hopes to upgrade the bridge successfully. Enabling interoperability between ALGO and any other smart contract Layer-1 is a great priority.

The Co-founder of Flare, Sean Rowan, applauds the Algorand team for the efforts they have been making to support the establishment of a trustless bridge for their ecosystem. The leader disclosed that they had tried all the existing approaches, but they proved unsatisfactory. Sean is pleased with the new approach because it will effectively support decentralized interoperability between different chains.

Argentina’s Schools to Support Educational Programs Focused on Bitcoin and Blockchain

By
Adam Barry
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0

Schools in Argentina will educate learners about Bitcoin and blockchain under the “Schools and Bitcoin Project.” The education system will teach about the global adoption of Bitcoin. The sponsors of the new wave have already laid out their plan to guide the process. Some people to benefit from the vocational guidance include educational institutions, teachers, and students in their final years of high school.

Participants

The “Schools and Bitcoin Project” starts strongly. About 40 secondary schools in Argentina confirm their willingness to become a part of the educational program. The studies start in August, and about 4,000 Argentine students stand to benefit. The sponsors want students and teachers to understand that the wave of Bitcoin blockchain is the future.

The decentralized financial system pulls along with numerous benefits and advantages. The program won’t discriminate against any secondary schools that wish to benefit from it. The latest shift continues to cut across the globe at a great speed, and schools need to join the wave because digital transformation is inevitable in the future.

It is easy to join the project. The interested educational centers can turn to the email [email protected] to get in touch with NGO Bitcoin Argentina. The project promoters have disclosed the date they will provide an introductory talk they will offer via Zoom. The interested people will learn more about the project on May 5.

Joining the project

There could be many reasons why the schools and other interested persons should consider joining the project. However, it is important to indicate that Argentina ranks highly among the countries with the highest use and adoption of cryptocurrency. There is a need to focus on the future, and providing education on crypto is a sure way to offer a strong boost to the crypto sector.

Research indicates that a significant percentage of the people showing great interest in cryptocurrency is the young population. This percentage is based on the global population, and the sponsors hope to get the message to all successfully. Promoters want the project to involve a lot of things that support a greater and deeper understanding of crypto. For example, there will be the need to plan inter-school meetings to exchange proposals from the different participating persons.

Animoca Brands gets a Significant Stake in Aussie Digital Services Agency

By
Adam Barry
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0

Animoca Brands is pleased after it purchased a major stake in Be Media. The Australian digital marketing agency that Animoca Brands chooses to work with prides itself in having locations in many areas such as Melbourne, Perth, and Sydney. A significant number of Web2 firms appreciate its efforts in enabling them to benefit from advertising and digital strategy. It says that it has been serving them since 2013.

The investment

Indeed, the company doesn’t majorly focus on the crypto sector. However, Animoca considers the latest investment a significant step forward in moving companies into Web3.

Be Media knows all its responsibilities in the deal, and one of those is to strike collaborations with some of the leading Australian Brands. Those brands must have a close link to the wide-ranging blockchain-focused initiatives of Animoca. Such initiatives include the unveiling of an “open Metaverse” and NFTs.

Be Media supports the expanded scope that follows the recent acquisition and is already working on some of the things it needs to do. For example, it wishes to commence an aggressive hiring process in various fields such as project management and blockchain development. It wants to increase the pipeline of opportunities and hopes to succeed in handling everything.

Fogarty’s take

Be Media founder Jordan Fogarty will retain a minor stake, and he is also quite happy about upholding his current role. He seems pretty enthusiastic about the latest developments and takes great pride in what he did to support local companies in moving into Web3. The other thing was to introduce customers to various areas such as the power of digital property rights, NFTs, and the metaverse.

On Tuesday, Fogarty spoke with the Australian Financial Review (AFR), disclosing his thoughts on things. He opined that a significant number of local businesses had realized the essence of the adoption of Web3 tech. An insane number wishes to move into the new space, and he supports moves to help them get what they want.

Any brand that wishes to do something Web3 deserves to get the support they need, but it has been difficult considering that only very few service providers have the capacity and skills to serve them.

European Crypto Industry Pushes the European Union to Relax its Policies on Crypto

By
Adam Barry
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0

The European crypto industry wants the EU policy to accommodate some of its concerns. It is a challenging journey that compelled about 40 crypto business leaders to reach out to the European Union to express their interests. The union has been pressuring crypto firms to uncover the details of the various transactions. The business leaders remain opposed to the directive and want the European Union to relax its stance.

Regulation

The European Union has a lot to accomplish in the same case countries globally need to run their operations. This union has been looking for ways to facilitate the taming of the crypto sector, which analysts describe as freewheeling. The body precedes Britain and the United States in its efforts to put in place rules to govern a sector deemed to be worth about $2.1 trillion.

Crypto businesses continue ramping up efforts to protect their businesses. In April, these businesses sent out a letter to several policymakers requesting them to work on their regulations. The letter requested the finance ministers to set the regulations in a manner that wouldn’t stretch beyond the already established rules under the Financial Action Task Force (FATF).

The Financial Action Task Force (FATF) is responsible for determining the standards that should help fight money laundering. In the previous month, the EU lawmakers participated in a poll to determine how matters went for the crypto sector. Most of them voted in favor of safeguards that would facilitate the tracing of bitcoin and the other wide-ranging cryptocurrencies.

Coinbase efforts

Coinbase Global Inc (NASDAQ: COIN) is the leading U.S. exchange among the first to oppose the new rules. It disagreed with the policies that would compel crypto firms to collect and hold information on the various persons involved in digital currency transfers. The major exchange remains opposed to the rule and continues pushing for change.

European crypto industry leaders and organizations don’t wish for anything that could put the digital asset owner at any form of risk. They believe the rules would result in disclosing wallet addresses and transaction details.

FLUID Speaks about the Plan to Partner with Polygon to Enhance Fragmented Liquidity

By
Adam Barry
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0

FLUID provided details about its collaboration with Polygon. It hopes that the new partnership will facilitate its adoption of Polygon as its fundamental DeFi chain. Polygon is known for its focus on Ethereum scaling. It has also been focusing on infrastructure development, and both of those qualities make it an ideal partner for FLUID. An expert working with FLUID notes Polygon’s minimal transaction costs and speaks about how that would augur well with FLUID’s decentralized solution. He also speaks about its great speed.

Ahmed’s perspective

The CEO of FLUID known as Ahmed Ismail, has shared his thoughts on the recent development and touched a little on their philosophy. He spoke about how they intend to deliver low latency and costs. He observes Polygon as a worthy partner who will enable them to reach their set goals. Ahmed hopes they will move together on the development journey as they target the delivery of ultra-efficient solutions.

FLUID CTO Jason Jiang hopes the incorporation of Polygon will play a significant role in facilitating the improvement of fragmented liquidity. He also hopes the $FLD token-holders will succeed at gaining the premium experience they need. Most of them want to access it at ultra-low transaction fees and ultra-low latency. Jason speaks elaborately about how they incorporated the creative scaling solutions of their partner and asserts that they had to undertake comprehensive research to arrive at their final decision.

Major efforts

The leader also says something about how FLUID has been focusing on building the liquidity aggregator that will help propel it forward. It hopes to succeed in the creation of working and efficient blockchain technologies. Polygon’s stability features and spending are significant contributors that enable FLUID to work flawlessly in resolving most of its fragmented liquidity operations.

FLUID also hopes that the partnership with Polygon will contribute to the establishment of a blockchain that will be EVM compatible. It also hopes that the blockchain will be pretty easy to code. FLUID intends to take advantage of its partner’s full-stack scaling solution in coming up with a native app. It reveals plans to unveil the app within the first half of 2023.

Blizzard, Inc (NASDAQ: ATVI) Shuts Off Plan to Include Nfts and Play-To-Earn Games 

By
Adam Barry
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0

Activision Blizzard, Inc (NASDAQ: ATVI) is opposed to including blockchain technology in its games. Blizzard’s president Mike Ybarra announced this after the company conducted polls to determine the way forward. The gaming community has been anticipating the company’s take on the matter, and it is now clear that blockchain has been struck out.

Company’s take

A recent survey on YouGov has brought the views of many gamers to the limelight, with many taking the strong stand that they don’t wish for the company to incorporate NFTs and crypto into its diverse games. It was essential to understand whether or not the gamers supported the move before its implementation. There was more to the change, and the other was the company’s exploration of the idea of adding more conventional features. The anticipated conventional features would include incorporating subscription services, VR, and cross-play.

Different people had something to say about the survey, and there is a lot to decipher from such speculation. One unique perspective told about a company determined to learn something about how the gamers felt. It was clear that Activision Blizzard was interested in gauging the response of the majority of gamers before it could move ahead with its implementation plan. It had hoped to move fast with the implementation process.

Concerns

Several questions arose following the survey. One of them was establishing what the studio wished to achieve by including non-fungible tokens (NFTs).

Several changes have been sweeping across for quite a while. One of them was bringing onboard Mike Ybarra to head Blizzard Entertainment in August 2021The leader has helped the company make tremendous steps forward since his entry back in February 2022. He has remained dedicated to pushing the company’s development forward and overseeing most of its operations.

It is now official that the company isn’t moving into the NFT space soon. At the start of this year, Microsoft channeled a whopping  $70 billion in a deal to acquire Activision Blizzard. It was a historic deal that made waves, and Microsoft Corporation (NASDAQ: MSFT) quickly explained why it undertook such an expensive undertaking. It spoke about its determination to put the fundamentals for the metaverse in place.

Ireland Curbs Foreign Interference by Banning Political Crypto Donations

By
Adam Barry
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0

Ireland’s new political integrity laws will call the shots this time around in shutting down the use of cryptocurrencies as donations to support political parties. The country drafted the laws to address the concerns about foreign interventions targeted at interfering with politics. The country has placed the ban and hopes it will help stop the interference that has been witnessed before.

Working on amendments

Minister Darragh O’Brien proposed several amendments that he hoped would govern matters such as misinformation, donations, and other crucial transparency requirements affecting political parties. Rumors have also been moving around about Russia’s plan to interfere in the country’s elections.

On Monday, O’Brien spoke about what he hoped the laws would help the country achieve. He opined that the laws would effectively safeguard Ireland’s democratic system. He spoke elaborately about the escalating threat of cyber warfare and disclosed information about how free countries have been falling victim to such activities. O’Brien says that there is an Electoral Commission that the country put in place recently that will play a massive role in overseeing compliance with the laws.

Ireland cannot spell out the monetary amount of political donations or even the percentages if asked to outline what goes to the political parties. Some of the donations went to individuals in the form of crypto, and the country can’t point to a particular figure.

O’Brien’s take

Minister O’Brien hasn’t said anything about the amounts, and efforts to re ah him proved futile. The Public Office Commission hasn’t also commented on the amount. Back in January 2022, O’Brien embarked on a campaign that sought to reform the laws. He put together a task force of legal experts and political scientists to investigate the new election laws. The leader speaks about how he kept bumping into concerns regarding the possibility of Russia interfering with their election. He needed to make a move because it was hard to tell what the Russia-Ukraine war would culminate in the long run.

The task force expressed its stand on the matter. It spoke about the various measures that needed to be put in place to establish a “legal and digital bulwark” to guard against election interference.

Bank Of America Predicts A Recession Shock And Crypto’s Triumph

By
Adam Barry
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0

The geopolitical shifts continue to hit markets globally, but a new revelation about cryptocurrencies prevails. Analysts reveal how cryptocurrencies have remained stable through the times. The unscathed nature of digital assets brings about new dynamics. For example, many experts and market organizations have changed their attitudes towards digital assets. They consider the digital assets better than the traditional asset classes such as stocks because of the associated stability index.

Hartnett Perspective

The chief investment strategist at the Bank of America (BofA) called, Michael Hartnett, shared his views about the fall of the macro-economic situation. He did so through a weekly research note that he directed to the organization’s clients. He gave out several warnings. One was about the anticipated deterioration that could hit the United States with a recession shock. He spoke about the Federal Reserve and its efforts in continues to make to cool down the high inflation that has been ongoing for four decades.

Hartnett inspires hope in digital assets such as cryptocurrency and asserts they could perform better than stocks and bonds. The resilience of cryptocurrency is pretty visible in the current times, as BofA’s chief investment strategist opines. The leader isn’t the only one taking such a stand because others share the same opinion.

McGlone stand

Mike McGlone is a senior commodity strategist working with Bloomberg who shares a similar opinion to BofA’s chief investment strategist. He speaks about how cryptocurrencies play a significant role in fighting off inflation that continues to affect most central banks in Western countries.

McGlone reiterates his stand on the divergent strength of Crypto and the market conditions. He refers to the unfolding financial situation which has caused Nasdaq to move down by eight percent on the year. Analysts believe it is shocking that Bitcoin remains unscathed to the point of this publication.

Mr. McGlone, in an earlier statement, spoke elaborately about how Bitcoin continues to mature and that it might get to the point of becoming widely recognized global digital collateral. The leader believes that the current state of Bitcoin isn’t unexpected considering how matters turned out for Bitcoin and the Nasdaq. He says that in 2020 Nasdaq lost a lot compared to Bitcoin.

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