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China is reportedly looking to implement a system akin to its social credit system, but in the Metaverse and other online virtual worlds.Proposals viewed by POLITICO and reported on Aug. 20 show the state-owned telco China Mobile proposed a digital ID for all metaverse and online virtual world users that
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Fortunately, there is a potential fix here. The rise of blockchain technology is reshaping how many companies trade their financial assets. Blockchains allow existing real world assets (RWA) and capital to be “tokenized,” i.e., representing certain assets, be they tangible, intangible or financial, on-chain as digital tokens. Source
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The United Arab Emirates Ministry of Climate Change and Environment (MCCE) is developing a carbon credit system in a preliminary partnership with the Industrial Innovation Group and the Venom Foundation.Blockchain technology is utilized by organizations and countries to track carbon credits. Due to the immutable nature of data inscribed on-chain,
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Fitch’s downgrade of U.S. debt this week is a warning to American policymakers and r underscores why Bitcoin and other open monetary systems matter. Source
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Colombia-based fintech firm Clave and its affiliate Liquitech underwrite and originate the loans in Colombian pesos via a bankruptcy remote trust and pledge the receivables as collateral. The underlying private note is settled through the Credix platform in USDC stablecoin. CESCE Colombia, subsidiary of Spanish Export Credit Agency, insures the
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The embattled Harbour Trade credit pool minted $1.5 million of DAI stablecoin secured with loans to a consumer electronics firm, which defaulted on $2.1 million of debt. Original Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Jacob Shiach, CEO of Union Finance, introduced Union Finance’s permissionless credit protocol, which aims to facilitate decentralized lending by leveraging trust and coordination among individuals, DAOs, and contracts. Shiach presented a speech on uncollateralized lending and leveraging
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Crypto futures exchange OPNX has launched a credit currency for margin trading, according to a July 5 statement made to Cointelegraph from the exchange’s co-founder, Mark Lamb. Called “oUSD,” the currency is available in its “phase 1” iteration, meaning that users cannot receive it without depositing crypto assets into the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Hong Kong-based crypto exchange LBank is preparing to introduce what it claims to be the world’s first unlimited cryptocurrency credit card. The upcoming card, available in virtual and physical forms, will allow users to make direct cryptocurrency
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‘Blue chip’ floor prices near two-year lowsThe largest nonfungible token (NFT) collections by market capitalization are in a sea of red as the cheapest NFTs in their collections took dives over the past week with some hitting near two-year lows.Yuga Labs’ flagship Bored Ape Yacht Club (BAYC) collection — the
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