Blockchain has been fostering the development of new and often unpredictable markets and economies driven by demand for innovation. From unprecedented crowdfunding mechanisms to play-to-earn (P2E) and move-to-earn (M2E) models, decentralized technology is empowering communities like never before. One of the next big things in today’s tech revolution is the so-called Map2Earn — an emerging and fast-growing trend revolving around an economic model that incentivizes people to scan physical locations and buildings for 3D mapping. While this is not an independent market yet, Map2Earn may play an essential role in augmented reality and the Metaverse. Both are multibillion-dollar markets and …

The Bank for International Settlements looked under the hood of decentralized finance (DeFi) in a new working paper and introduced the DeFi stack reference (DSR) model to illustrate the technology’s functionality and risks. The report discussed the integration of DeFi with traditional finance and suggested ways to assess its risks during that integration. The paper examined the architecture, technical primitives and functionalities of DeFi protocols in considerable technical detail. “A deep understanding of DeFi is still lacking in many circles,” the authors wrote, “which calls for a specific framework for an improved working knowledge of the technology.” The effort is …

Validator infrastructure developer ssv.network has launched a new ecosystem fund to support Ethereum proof-of-stake decentralization — a move that the company said would promote innovation around Ether (ETH) staking technologies. The ecosystem fund, valued at $50 million, will support projects building applications using distributed validator technology, or DVT, the company announced on Jan. 17. The fund is solely dedicated to backing DVT use cases in support of Ethereum’s long-term decentralization efforts. DVT is an open-source protocol that allows a validator’s responsibilities to be distributed across multiple nodes. The protocol was a key component of Ethereum co-founder Vitalik Buterin’s roadmap for …

Blockchain technology has long been a part of the revolution in global supply chain management and the agricultural business. However, as the world continues to face the adverse effects of global warming and the increasing need to change how companies approach natural resources, this technology has an even larger role to play. Deforestation is one of the main contributing factors to the rapid increase in the net global temperature. Forests make up an essential part of the flora and biological diversity of the planet, and as industrialization and urbanization set in, deforestation is becoming an evident problem. Blockchain technology and …

The World Economic Forum (WEF) released a “toolkit” for digital autonomous organizations (DAOs) on Jan. 17. More than 100 experts contributed to the document attempts to provide “a starting point for DAOs to develop effective operational, governance and legal strategies.” The 37-page so-called toolkit is explanatory in nature, with concise but encyclopedic entries on DAOs and related topics. It described them as “a set of adaptable resources for key stakeholders to help realize the full potential of this emerging form.” DAOs have “the potential to address many of the shortcomings of the traditional firm while also realizing more equitable governance …

Tanzania's central bank says it is still considering the introduction of a central bank digital currency (CBDC) but will be a taking "phased, cautious and risk based approach" after identifying several challenges that could impact its implementation. According to a Jan. 14 public notice from The Bank of Tanzania, since its 2021 announcement about a possible CBDC rollout, the East African country formed a multidisciplinary technical team to explore the risks and benefits of CBDCs. The bank revealed its team has conducted research looking into different types of CBDCs, models for issuance and management and whether it could be token-based …

Blockchain use cases have expanded far beyond cryptocurrency in the past years, with multiple industries embracing the technology in a wide range of fields, including healthcare, logistics, and financial services. The hype has many reasons behind it. Blockchains are decentralized, transparent, and increase the capacity of a whole network, opening a window for solutions that require significant computational power. More importantly, it gives users the capacity to control their assets, including their data, without relying on third parties. As blockchain evolves, companies across the world are working to find the best ways to implement the technology on a range of …

In many countries, millions of people clack basic equitable access to the financial services that would allow them to meet their daily needs. On this week’s episode of NFT Steez, hosts Alyssa Expósito and Ray Salmond meet with Mashiat Mutmainnah to discuss how regenerative finance (ReFi) can provide more accessibility and inclusivity to blockchain technology. Mutmainnah explained that as a “mission-driven movement,” ReFi enables users to redefine their relationship with the current financial system and their relationship with finance and wealth. What if there were newer models that could sustainably alleviate this? According to Mutmainnah, ReFi can redefine what money …

Talk of decentralized social media platforms continue to gain significant traction, with users becoming increasingly concerned with the centralized nature of traditional platforms and the potential for censorship. Even the former CEO of Twitter, Jack Dorsey has publicly pushed for a decentralized Twitter alternative. Cointelegraph interviewed Rick Porter, the CEO of decentralized social media start-up DSVR, about the potential these platforms have to change the way users interact and share information online. Porter said that decentralized social media platforms provide, “the potential for users to own their content, their data, and make decisions about its monetization.” Porter also believes that …

Input Output Global (IOG) — the team behind the Cardano ecosystem — will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem. The news was announced by IOHK — a blockchain engineering company founded by Charles Hoskinson and now known as IOG — on Jan.12, which also attached the official technical documentation for the sidechain toolkit. ⛓️ The #Cardano sidechain toolkit was previewed at #IOScotFest, and we’re happy to share the first iteration is out now. Here’s the lowdown on this exciting new project! https://t.co/Ny9tQuJh5K — …

The business model that cryptocurrency exchanges currently use relies on ignorance and fear. It relies on their customers not knowing much about decentralized finance (DeFi) and their fear of what could happen if they get things wrong with their crypto investments. Cryptocurrencies seem like an obscure and risky investment to most, and unsurprisingly, concerns about losing assets in market crashes, losing wallets or security keys through carelessness, or being scammed by unscrupulous operators are prevalent. These concerns are reasonable considering the volatility of the market and the prevalence of sharks, crooks, bluffers and shysters who operate in the industry. In …

Sanctions aimed at decentralized crypto mixer Tornado Cash weren’t able to completely cut off its usage, though it has hamstrung the service, a blockchain analytics firm has shared. On Aug. 8, the Office of Foreign Assets Control (OFAC) announced sanctions against the crypto mixer for its role in the laundering of crime proceeds. In a report published on Jan. 9, Chainalysis said the sanctions did have some effect, causing total inflows to the mixer to drop by 68% in the 30 days after the sanctions came into force. 1/ The first section preview of our 2023 Crypto Crime Report is …