New Ethereum-backed stablecoin RAI hopes to be the savior of the DeFi sector by providing a truly decentralized stablecoin alternative. Developed by blockchain startup Reflexer Labs, RAI is not pegged to any fiat currency and its monetary policy is managed by an on-chain, autonomous controller. It's a fork of Maker's DAI. RAI co-founder Ameen Soleimani explained: “RAI is an asset backed only by ETH, governance-minimized, and programmed to maintain its own price stability without needing to peg to an external price reference like the USD.” Soleimani believes that RAI, which he dubbed “A Money God,” has far greate potential than …

Long gone are cryptocurrency’s days as an obscure hub for experimental ventures in cryptography. 2020 marked a seminal year for the space, with cryptocurrencies taking major strides into the mainstream as governments, supranational organizations and corporate entities alike made significant entrances into an industry they collectively call the “digital asset space.” As per centralized authorities’ choice, cryptography and its primary feature, privacy, have been relegated from the front-and-center role they once played as cryptocurrency’s main attractions. In their place, a breadth of ever-more enticing DeFi applications has taken the limelight on the back of enhanced liquidity, yield farming and unprecedented …

Big Tech has been in the news a lot over the last decade. Initially, the coverage focused on the new possibilities that were created around communication and information sharing and the benefits that these would bring. New tech networks offered unprecedented tools, offering everything from reuniting families separated by emigration to assisting in the overthrow of autocratic regimes and restoring power to the people. Next, we heard about the tremendous value Big Tech was creating, bringing billions of dollars to founders and workers, as well as the pension funds that invested in them. We knew they were a force for …

In our digital world, data has now become as valuable as gold or oil. In order to achieve success, companies must adapt to handling their data much like a commodity, by trading and earning a profit off of it. Data is especially valuable when it comes to artificial intelligence and machine learning algorithms due to its ability to provide value that enables new AI use cases. In order for a marketplace to be successful, it is essential to take into account scalability, quality and price of data. This is where blockchain technology comes in, where it will able to provide …

Global cryptocurrency exchange OKEx announced Feb. 9 that it has integrated support for blockchain-based addresses from Unstoppable Domains into its customer wallets. This means that rather than needing to provide individual wallet addresses for each token type, users can send and receive any of the many currencies supported by both OKEx and Unstoppable Domains via a single .crypto or .zil domain name. In practice, this functionality was already available for incoming transactions. The domain owner could simply set up the redirects for each currency to their OKEx wallet addresses via the Unstoppable Domains platform. However, OKEx wallet can now accept …

Decentralized finance has exploded over the past 12 months. The swapping, staking and yield farming successes have been well touted. The DeFi market cap has reached $45 billion, and there’s over $28 billion total value locked in DeFi today. That’s up from $600 million in January 2020 — a 4,300% increase. As with all nascent technology, new money flowing into a sector attracts talent, innovation and the best entrepreneurs. Whether we like it or not, the record-high token prices will also attract the attention of mainstream media and Wall Street. This cocktail of factors, coupled with the glitz and glam …

King Midas is most famously remembered through the fable we tell our kids that the king could turn everything he touched into gold. At first, it was a great idea that his greed turned even food into gold, leaving him wealthy but unable to live. Robinhood’s CEO and its board had the impossible King Midas dilemma this week: deciding whether to side with their customers and let them make over $15 billion in profits or halting trading and allow only the sale of GameStop (GME) to enable the money-hungry shorts to cover their position at lower prices and avoid massive …

What was blockchain technology originally intended for? It’s generally presumed that it was created in 2008 by Satoshi Nakamoto as part of his white paper, creating Bitcoin (BTC). Since Bitcoin would be built on decentralized ledger technology, a blockchain needed to be established as the foundation for the cryptocurrency. Since 2008, blockchain technology has expanded well beyond cryptocurrency usage and is now being applied in a variety of use cases from healthcare to finance to green tech and more. But blockchain tech didn’t start with Satoshi’s white paper. It was actually invented in 1991 as a way to verify and …

GameStop and Twitter are both a mirage and an iceberg — but don’t try tweeting that. Not because you won’t own the tweet (because you won’t), but because the only completely true expression that Twitter is capable of delivering as a platform is unlocking the ugly truth about the internet itself. Or as Elon Musk recently tweeted: In retrospect, it was inevitable — Elon Musk (@elonmusk) January 29, 2021 Let me explain. In the midst of Robinhood halting trading for its supposed users, Jack Dorsey has been talking about decentralizing Twitter and social media in general. But other than a …

Free TON, a community-driven blockchain promoting decentralized self-governance and freedom of speech, has acquired Dune Network through a community merger mechanism that was recently approved by both camps. An amended Dune community partnership proposal filed in January was approved on Tuesday, bringing the Free TON merger one step closer to fruition. Dune Network, which is a decentralized platform for distributed applications, said the merger will strengthen both communities and support the global adoption of decentralized governance. Ben Sunderland, Dune Network’s community manager, said: “Our vision is to create the blockchain ecosystem’s first true decentralised Merger and Acquisition. With our shared …

Earlier this week, Elon Musk made history when he placed his full support behind Bitcoin (BTC) during a Clubhouse stream. When discussing Bitcoin and the GameStop debacle with Robinhood CEO Vlad Tenev, Musk said: “I am late to the party, but I am a supporter of Bitcoin.” This came a few days after Musk changed his Twitter profile, adding “Bitcoin” to his bio. Interestingly enough, Musk's public endorsement of Bitcoin comes at a time when legacy financial markets have been openly caught defrauding their own customers, and the Robinhood app is at the center of this fraud. Indeed, the richest …

India has more than 65% of its population below the age of 35, with the average age nationwide being 29 years old. Additionally, out of India’s 1.3 billion people, only half currently use mobile phones, and less than half of this number are smartphones. Even though India is one of the world’s most populated countries, internet usage remains at 41%, with 700 million Indians currently connected to the internet. This leaves incredible room for growth in India, which lags behind other emerging economies when it comes to both internet access and smartphone ownership. This large, underserved population has long been …