26 January

YouTube CEO Susan Wojcicki said she wants content creators to be able to benefit from new technologies. Wojcicki said her team is looking ahead to the future and has been following everything happening in Web 3 ‘as a source of inspiration to continue innovating on YouTube.’

The past year in the world of crypto, non-fungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.”

See Also: YouTube Loses Pair of Executives to Web 3 and Polygon Studios

It appears that buyers are starting to return, but analysts expect choppy price action ahead of the U.S. Federal Reserve’s press conference on Wednesday.

The Fed is expected to provide details about ending its asset-purchase program in March, which could coincide with a rate hike. Concerns about a tighter monetary policy have contributed to a sharp sell-off across speculative assets, including equities and cryptocurrencies over the past two weeks.”

See Also: Bitcoin’s Correction Continues for Now, but Eventually It Could Go ‘Parabolic,’ Says Peter Brandt
See Also: Bitcoin hits $37.5K, stocks recoup losses ahead of Wednesday’s FOMC statement
See Also: Ethereum Money Markets See Record Liquidations as Ether Tanks; MakerDAO Revenue Surges

Russia needs to regulate cryptocurrencies, not ban them, according to the head of the financial policy department at Russia’s Ministry of Finance. Chebeskov said the ministry opposes the stance of the Bank of Russia, which earlier this month issued a report calling for a full ban on cryptocurrency trading and mining.

Regulation is sufficient to protect our citizens.

Banning crypto transactions and mining would mean undermining the industry’s technological development, Chebeskov said. ‘We need to let these technologies develop.'”

See Also: Thai Authorities Plan to Regulate Crypto as Means of Payment
See Also: IMF Urges El Salvador to Discontinue Bitcoin’s Legal Tender Status [Again]

“Blockscan Chat is a messaging platform for users to simply and instantly message each other, wallet-to-wallet.

Users are already talking about potential use cases. For instance, wallet-to-wallet messaging could undercut NFT marketplaces by allowing bidders to directly message asset owners. And as Ryan Sean Adams of Bankless points out, you could even communicate with hackers, useful in cases when you’re trying to negotiate the return of funds.”

See Also: New private messaging app claims to be decentralized and quantum-resistant

“Spinning up a cryptocurrency-fueled investment community in the form of a decentralized autonomous organization (DAO) should be as easy as creating a group chat. Syndicate has gone some way towards making it easier to comply with whatever requirements are necessary.

We’ve worked with a number of external partners like law firm Latham & Watkins, who helped advise in the creation of the different legal templates and tools, specifically for investment clubs that are embedded in the product.

Syndicate is also partnering with Doola, a platform that helps incorporate businesses in the U.S. and which will help DAOs become legal entities, open fiat bank accounts and even file taxes and issue K-1s to members.

Translating [investment clubs] to the DAO space will open up the sea change in terms of what the future of capital allocation looks like.”

See Also: Syndicate
See Also: Crypto VC Firm Dragonfly Raising $500M for New Fund, Documents Show

“Kazakhstan’s energy problem worsened on Tuesday when a major transmission line was disconnected. Kazakhstan’s energy grid has been struggling to meet power demand, especially during the winter. KEGOC said it will consider rolling the limitations back if the energy situation improves.

Kazakhstan was home to about one-fifth of the world’s bitcoin mining at the end of August 2021.”

“The Blockchain-Based Service Network (BSN), China’s state-sanctioned blockchain infrastructure project, said it is releasing its platform for non-fungible tokens (NFT) in the country today.

The BSN-Distributed Digital Certificate (BSN-DDC) network is a structure for building NFTs that is compliant with Chinese regulations. Authorities in China discourage public networks like Ethereum that are commonly used in the NFT ecosystem.

Instead, BSN is making 10 Open Permissioned Blockchains available on the BSN-DDC. These are localized versions of their permissionless counterparts that set restrictions on who can participate in network governance and use fiat currency for payment. DDCs are the same as NFTs, but renamed to emphasize their uses for certification.”

“BIS is planning projects to explore CBDCs, next-generation payments systems, DeFi and green finance through its Innovation Hub in 2022.

At the end of last year, at least 64 central banks were exploring a retail CBDC, according to the CBDC Tracker. Of those, 20 have been launched or tested or were in the very advanced exploration stages.

As for DeFi, details are sparse, but a new project at the Hong Kong center plans to explore whether DeFi technologies including blockchain, tokenization and smart contracts, can ‘improve financing for small and medium enterprises, a historically underserved market segment.’