“At Coinbase, we want to help pull all the pieces of identity together—essentially creating an identity on-ramp into the Metaverse. That’s the idea behind our work with ENS, which makes it possible to create a unique username NFT that resolves to a wallet. Eventually, this will allow users to carry a unique ID across different worlds in the Metaverse.
We’re also working on technology that will allow you to purchase your avatar, define and maintain your public profile, and establish trust. And we’re working on features like Sign in with [ETH/Coinbase], which could allow users to sign into every app in the Metaverse.
If Coinbase does become a popular option for people to access the metaverse and manage their identity, it could come to occupy a similar role as Facebook did for an earlier era, where people used their Facebook account as a key to accessing a wide variety of other websites.
For Coinbase, the situation is different, of course, because the metaverse is being built as a decentralized platform over which no single company or authority has control. Meanwhile, its CEO Armstrong has long been a proponent of decentralization as a way to give people more freedom over their lives.
Nonetheless, if Coinbase does emerge as the go-to service by which many people access the metaverse and store their identities, his company may have to be especially careful to ensure it doesn’t exert power over those who inhabit the metaverse—or else risk bringing Web2-style gatekeeping to Web3.”
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“The new guidance will allow them to support the buying and selling of cryptocurrencies. The NCUA is a U.S. regulator that oversees credit unions, acting as a counterpart to the Office of the Comptroller of the Currency (OCC), which regulates national banks.
Credit unions have been watching endless outflows of cash to crypto exchanges, and many people would rather use their primary financial institution for their first foray into crypto investing.
Financial services has always been ‘adapt or die’ and I don’t want credit unions to go the way of Blockbuster Video because we, the regulators, prevented innovation.”
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“Projects built using “Consensys Rollups” can reach a throughput of up to 10,000 transactions per second (TPS) on a private chain. Use cases could include central bank digital currencies (CBDC), decentralized exchanges (DEX), micropayments and private transfer and taxes.
ConsenSys Rollups is an innovative modular software solution for permissioned blockchain applications focused on providing scalability and privacy capabilities.
Mastercard and ConsenSys announced an initial partnership in April as part of a $65 million fundraising round for ConsenSys that included large bank investors such as JPMorgan and UBS.”
“In addition to developer grants, Aztec said it will use the funds to push for legal clarity on private crypto transactions. The company wants to provide thought leadership on how to create a compliant regulated payments network.
In January, the company is set to launch Aztec Connect, a way for users to privately access Ethereum’s decentralized finance (DeFi) ecosystem. At launch, Aztec Connect will add functionality for a select group of blue chip DeFi partners. The company will then launch the Connect software development kit (SDK) to allow any Ethereum project to integrate Aztec’s privacy and cost savings.
Everything on the blockchain is public. Aztec is effectively end-to-end encryption for those public messages. Aztec’s rollup solves privacy while enabling access to Ethereum DeFi.”
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“The drop came after major U.S. stock indexes fell amid plans by Europe’s top central banks to battle high inflation. The S&P 500, Dow Jones Industrial Average and tech-heavy Nasdaq Composite declined, the Nasdaq by over 2%.
Bitcoin and [Big Tech] are getting punished today as investors reallocate some of their more profitable risky bets. The crypto space is seeing a lot of repositioning and that is leading to some unwanted selling pressure, but the medium- and -long-term outlooks remain firmly in place.”
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“On Thursday, BitDAO, one of the world’s largest decentralized autonomous organizations with over $2.5 billion assets under management and its partner Mirana Ventures, announced the creation of EduDAO with eight of the world’s top universities including the University of California Berkeley, MIT, Harvard and Oxford University.
EduDAO is financed by the BitDAO treasury and will allocate $11 million each year to funding project grants, research and standalone product development. The funds will go to academic research for next-generation blockchain and Web 3.0 technologies.
Placing the power of targeted funding and information distribution in the hands of a decentralized collective of students, faculty members, and alumni is a revolutionary step forward for institutions such as Harvard.”
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