Coinbase’s ‘Stand with Crypto’ Campaign Qualifies Legislators’ Positions

Audy Castañeda
-
0
Coinbase’s ‘Stand with Crypto’ Campaign Qualifies Legislators’ Positions

Coinbase’s “Stand with Crypto Alliance” rates US lawmakers’ cryptocurrency stances and policies through labeling. Those ranked range from “strongly against,” like Sen. Elizabeth Warren, to “strongly for,” like Rep. Josh Gottheimer. The move is aimed at influencing digital asset regulation as the exchange fights an SEC lawsuit over securities law violations.

Not all legislators are alike when it comes to the issue of cryptocurrencies and blockchain. Now a new campaign, Stand with Crypto, has made it easier to see which elected representatives in the United States are an ally of the industry.

On Monday, Coinbase announced the launch of the Stand with Crypto Alliance, a lobby group of industry members and supporters. The website encourages visitors to contact their representatives in Congress and advocate for the industry.

Coinbase Seeks to Increase Pressure on Politicians

As the world’s second largest exchange and the world’s largest publicly traded exchange, Coinbase has a lot of influence. Now he is ramping up the pressure on US politicians after a year characterized by high-stakes debates over regulation.

One of the features of the campaign website is a tagging system that designates lawmakers based on their support for the industry. Politician profiles redirect to Coinbase website. The website sets out the criteria for its crypto sentiment rankings. For crypto watchers, some scores will come as no surprise.

Elizabeth Warren Named “Strongly against”

Democrat Elizabeth Warren, the junior senator from Massachusetts and a left-wing agitator, has made a name for herself in the industry for her stances against cryptocurrency. The bill gives Senator Warren a rating of “Strongly Against”.

However, Warren has never been completely against digital currencies. The 74-year-old previously advocated for a Federal Reserve-backed digital currency to remove many of his risks.

Unsurprisingly, many within the crypto community who value decentralization did not find it fun. It may surprise some to learn that several of the top scorers belong to the same party as Warren. They are not stereotypical pro-business Republicans. But the Democrats who want to encourage innovation.

Another politician mentioned is Rep. Josh Gottheimer, a Democrat from New Jersey’s 5th District. The project classifies the 48-year-old as “Very supportive,” its highest rating.

As stated on the website, Gottheimer has sponsored two failed initiatives for the blockchain industry. They include a bill authorizing the development of a national strategy for blockchain research and development, and a bill designating crypto tokens as non-securities.

New York Rep. Torres Supports Crypto

Another leading scorer is Gottheimer’s colleague in Congress, Ritchie Torres, a Democrat representing New York’s 15th district. The website labels Torres “Very supportive,” citing four recent statements of his that leave little doubt about his views.

Cryptocurrencies can help immigrants avoid exploitation, Ritchie Torres posted on X:

“Immigrants often pay predatory fees to send remittances to loved ones abroad. #Crypto has the potential to create a better, cheaper and faster payment system. My mission is to make the crypto revolution work for the lowest income Americans.”

However, the website did not give each politician a ranking if there was not enough data to compile a score.

Coinbase is understandably interested in helping influence regulation around digital assets. On June 6, the Securities and Exchange Commission announced that it was suing the exchange for violating securities laws. Coinbase asserts that the assets on its platform are not securities and that the SEC is overreaching.

By Audy Castaneda

Blockchain Games Need Abstraction and Improve Usability, According to ETH France

Audy Castañeda
-
0
Blockchain Games Need Abstraction and Improve Usability, According to ETH France

Early crypto game companies face challenges in delivering superior experiences to traditional studios like Ubisoft. The first programmable blockchain changed the way players view property, allowing them to sell assets on the blockchain. Web 3.0 games have usability issues, but solutions like account abstraction could improve the user experience.

Web 3.0 game companies have worked hard to convince gamers that they offer a superior experience to Activision Blizzards and Ubisofts of the world.

The hassle of managing private keys, special strings of digits and numbers that enable crypto transactions, is a tall order for gamers who got their start with cartridge and compact disc-based gaming in the 1980s and 1990s.

Players Abandoned by Studios Making Quick Money

The arrival of the first programmable blockchain in 2015 redefined the decentralization of money. It also changed the way to view what is owned. Players trapped in isolated ecosystems were suddenly intrigued. Maybe they didn’t have to tell their families that they spent $100 on a virtual weapon upgrade. They could sell them on the Blockchain, and no one would be the wiser, no big deal. The price to pay? Manage wallets, private keys and crypto addresses.

Gamers have always been more tech-savvy than the general population, so blockchain shouldn’t be a huge leap, a walk in the park. This, unfortunately, is a mistaken idea. It turns out that Web 3.0 has many challenges, one of which is ease of use, according to Jérôme de Tychey, of Web 3.0 game company Cometh. The president of Ethereum-France talked about some early mistakes by Web 3.0 game developers and how cutting-edge key management solutions paint a brighter future.

How Blockchains Evolved to Host Applications

On Ethereum, smart contracts encode logic for finance and other decentralized applications using a special programming language.

An Ethereum developer activates a smart by sending it to a specific address on Ethereum. Later, Ethereum participants can use their own addresses to interact with a smart contract.

To send funds to a smart contract, a user must sign the transaction with a string of digits and numbers called a private key. A private key authorizes output streams from a crypto address.

For most crypto transactions, the crypto wallet software signs the payments. Vendors create a seed phrase, a group of 24 words that they can use to help users recover lost keys. A user who loses their seed phrase loses access to crypto.

Blockchain Game Developers Forgot about Gamers

Blockchain gaming companies have so far relied on gamers to protect the keys that govern access to game assets. What appears to be a perfectly reasonable expectation for gamers who are expected to be tech-savvy, is not actually so, according to Jérôme de Tychey, founder and CEO of Cometh and president of Ethereum-France:

“Difficult questions arise once the player has to use [his] key, how to pay for gas? How to relay transactions? How to update the game from what just happened in the chain?”

These questions merely scratch the surface of deeper issues plaguing blockchain gaming. According to de Tychey, game developers tried to make life easier for players through various techniques, including storing the key in relatively secure locations and using remote key management.

Account abstraction allows a player to manage their addresses and schedule them with better experiences using a smart contract that could allow players to create a trusted session to authorize many small transactions.

By Audy Castaneda

Station Eradicates Wallet Error and Increases Ease of Transactions

Leonardo Perez
-
0
Station Eradicates Wallet Error and Increases Ease of Transactions

One major bug is that the station’s protocol has been preventing Terra-based transactions. With a decisive fix, users have been given instructions on how to update the Station app.

One major bug is that the station’s protocol has been preventing Terra-based transactions.

With a decisive fix, users have been given instructions on how to update the Station app.

According to an Aug. 11 tweet, Terra Classic (LUNC) linked Station protocol has fixed the wallet connectivity bug that previously prevented users from signing transactions in apps using the Station platform. Consequently, users are expected to complete their transactions on Station-based applications with ease.

At the same time, these apps must migrate from Wallet Provider to Wallet Kit for the solution to take effect. Also, the apps would need to be updated to v7.4.2.

Some community members have been experiencing some challenges when trying to connect their wallets in apps that take advantage of Station. This tension has prevented them from signing transactions.

The team behind the protocol began to investigate the possible cause of the mishap and ended up discovering an error. After careful examination, the team was able to find a solution that has now been published.

Migrating from Wallet Provider to Wallet Kit

To ease the migration from the faulty wallet provider to the wallet kit for apps using Station, step-by-step guidelines have been outlined in the Terra docs. It is a requirement that users have the latest version of the Station Chrome extension i.e. from Station Wallet 7.4.2 and above before they can proceed.

Usually, the Station Extension for Google Chrome should update automatically, but in the event that a user is not sure, a manual check can be done. If it hasn’t been updated yet, the user can visit chrome://extensions to update.

Neoclassic Placebo Maker (NPM) and Node Version Manager (NVM) are also prerequisites for the transition. Most users will also need to specify version 16 of node before they can proceed with the upgrade.

With all this in place, users would have to uninstall the deprecated Station Wallet package in their apps, after which they would have to install the Kit package. The next thing to do is to change the wallet provider settings.

After adding support for Station Mobile, which is part of the adjustment made to the wallet provider settings, the user will need to fix the package import and minor code changes to comply with the wallet kit API. Completing all these steps means that your migration to Wallet Kit was successful.

New User Requirement

Users entering the Station ecosystem for the first time will not need to complete the processes mentioned above. Instead, the new user would start by installing the Terra Station Mobile package to add support. The next thing would be to start the app to make sure it works, then create a new directory called ‘components’ in the source directory. From here, users can start putting their imports to work.

After several other steps, users can now check their wallet balance and submit a transaction. For more context, a new user’s guide can be found here. Meanwhile, experts are bullish on Terra Classic (LUNC) and confident that it is on the brink of a potential breakout that could drive up to 400% price rise.

By Leonardo Pérez

Jacobi Asset Management Makes History with First Bitcoin ETF Listing in Europe

Audy Castañeda
-
0
Jacobi Asset Management Makes History with First Bitcoin ETF Listing in Europe

The move comes two years after the Guernsey Financial Services Commission (GFSC) approved the investment vehicle in October 2021.

The listing of the Jacobi FT Wilshere Bitcoin ETF marks a significant achievement for the firm and for the broader European crypto investing landscape. The financial landscape in Europe is undergoing a significant change as Jacobi Asset Management firm lists its first Bitcoin exchange-traded fund (ETF) on Euronext, an Amsterdam-based stock exchange.

The move comes two years after the Guernsey Financial Services Commission (GFSC) approved the investment vehicle in October 2021. The fund, called the Jacobi FT Wilshere Bitcoin ETF, was initially planned for launch last year. However, the company backtracked on the plans due to market conditions and other negative news in the industry, including the catastrophic collapse of the Terra (LUNA) blockchain and the FTX fiasco.

After months of postponement, Jacobi finally announced on Aug. 15 that the Bitcoin (BTC) Spot ETF is now available for trading on the stock exchange. The investment fund will trade on Euronext under the symbol BCOIN. Investors are charged an annual management fee of 1.5%.

Europe Beats the US with BCOIN Launch

According to the official press release, Fidelity Digital Assets, a subsidiary of the famous financial services company Fidelity Investments, will become the custodian of BCOIN. Similarly, Flow Traders has been authorized to act as the official market maker for the fund, while Jane Street and DRW will act as participants.

Regarding the fund’s benchmark, the FT Wilshire Bitcoin Blended Price Index, Jacobi said Wilshire Indexes would provide the services with the REC solution created in collaboration with digital asset platform Zumo. With the listing of this investment vehicle in Amsterdam, Europe, the continent has become the first region to present BTC investment opportunities for traditional corporate investors, surpassing the US and Asia.

“It is exciting to see Europe moving ahead of the US in opening up Bitcoin investing to institutional investors who want secure access to the benefits of digital assets using familiar and regulated structures like our ETFs,” Martin said.

Bednall, CEO of Jacobi Asset. Management. Despite multiple applications submitted to the US Securities and Exchange Commission (SEC) over the years, none have been approved. Nonetheless, the tide may be turning, with industry heavyweights like BlackRock leading the way in new apps designed to address concerns surrounding market manipulation.

First Decarbonized Digital Assets Fund

The listing of the Jacobi FT Wilshere Bitcoin ETF marks a significant achievement for the firm and for the broader European crypto investing landscape. Unlike Exchange Traded Bonds (ETNs), this ETF takes a new approach, offering investors direct ownership without the complexities associated with debt securities.

The fund goes beyond technological innovation: it embraces sustainability. In line with Article 8 of the European Sustainable Finance Disclosure Regulation (SFDR), the ETF is hailed as the first decarbonized digital asset fund. Partnership with digital asset platform Zumo facilitates integration of a Renewable Energy Certificate (REC) solution, ensuring institutional investors align with environmental, social and governance (ESG) goals while participating in transactions of Bitcoin.

As digital assets find a place within traditional finance, Jacobi’s debut as Europe’s first Bitcoin ETF shows the region’s pioneering spirit to seize transformative opportunities. By introducing considerations of transparency, direct ownership, and sustainability, the ETF marks a significant step toward integrating digital assets into the heart of mainstream financial systems.

By Audy Castaneda

Binance and Despegar Join Forces to Revolutionize Travel in Latin America

Audy Castañeda
-
0
Binance and Despegar Join Forces to Revolutionize Travel in Latin America

The use of cryptocurrencies to pay for travel is booming in Latin America. Binance and Despegar share the most popular destinations.

Traveling with cryptocurrencies becomes the favorite trend of Latin Americans thanks to its benefits. Cryptocurrencies have become a reality in the daily life of Latin Americans, and Binance, the leader in crypto infrastructure, is doing everything possible to promote its adoption in a tangible way.

After more than thirteen years since two pizzas were bought with 10,000 Bitcoin, marking the first crypto transaction in history, Binance celebrates its partnership with Despegar, the main travel company in Latin America, to offer cryptocurrency payment as a new alternative for customers.

With the addition of Binance Pay in Argentina, Mexico, and Colombia, Despegar diversifies payment options for users, following Binance’s efforts to bring the crypto world closer to the general public.

Users can send and receive crypto payments around the world, with support from Inswitch for conversion to local currency. In addition, travelers can keep their cryptocurrencies while they have liquidity to cover their daily living expenses.

Daniel Zelmann, Chief Product Officer of Despegar, expressed the following:

“We are committed to diversifying financing methods so that all travelers enjoy the best experiences. Being the first online travel agency in Latin America to accept cryptocurrencies as a form of payment makes us proud.”

Latin Americans are Conquering Dream Destinations with Cryptocurrencies, According to Binance

After the mid-year break in Latin America, Binance and Despegar offer a glimpse of the most popular services and destinations among users. Of the total Despegar users who buy with cryptocurrencies in Argentina, Mexico, and Colombia, 83% use them to buy plane tickets, 6% for activities and transfers, 6% for hotels, 3% for tourist packages, and 2% for car rentals.

Regarding destinations, 63% of customers choose domestic trips, while 38% prefer international destinations. The six national destinations most in demand by Latin American tourists are Buenos Aires, San Carlos de Bariloche, Córdoba, Puerto Iguazú, Cancún, and Bogotá. As for international travel, the preferred ones are Madrid, Santiago de Chile, Barcelona, ​​New York, Miami, and Lima.

Min Lin, Binance’s Regional VP for Latin America said the following:

“Cryptocurrency adoption continues to grow rapidly in Latin America, as new alternatives are consolidated to bring the crypto world and traditional payments closer together. We see a huge opportunity in continuing to develop platforms, products, and services for different industries across the region, both in the physical and virtual world.”

Cryptocurrencies Conquer Latin America as a Means of Payment and Approach the US Market

Cryptocurrency payment is on the rise around the world, with US consumer businesses planning to accept cryptocurrency payments by the end of 2023, according to a Deloitte Research study.

Deloitte adds that “business leaders are seeing digital currency as an essential tool to achieve their goals.” According to a survey polling a sample of 2,000 senior executives at US consumer businesses, merchants are implementing digital currency payments to gain a competitive advantage in the market, with the firm belief that the use of digital currency will continue to expand.

However, in Latin America, cryptocurrencies as a means of payment are mainly used in everyday purchases, led by categories such as clothing, supermarkets, restaurants, and car transport services, according to data from Binance.

By Audy Castaneda

This is how Facial Biometrics Works for Foreigners Leaving Colombia

Audy Castañeda
-
0
This is how Facial Biometrics Works for Foreigners Leaving Colombia

With this technology, Migration wants to speed up immigration control when travelers leave Colombia. According to the Director of Migration, Colombia is the only Latin American country to implement this technology in its migration processes. The government hopes to take this model to the international airports José María Córdova, in Medellín; Rafael Núñez, from Cartagena; and Ernesto Cortissoz, from Barranquilla.

Migration Colombia extended the use of facial biometrics for the departure of foreigners from the country. For now, the technology will only be available at Bogota’s El Dorado Airport.

Now foreigners who want to leave the country will have to carry out a biometric registration to be able to exit more easily. The technology called ‘Biomig for Foreigners’ will benefit international travelers over the age of 18, who visit Colombia for tourism or short-stay activities.

Facial Biometrics for Foreigners Available only in Bogotá

Biomig for foreigners works with biometric devices that Migration Colombia has in the emigration and immigration areas of the El Dorado Airport. With this technology, the agency wants to speed up immigration control when travelers leave Colombia.

The tool expedites immigration control, by allowing the registration of personal and travel information in advance, which expedites the passage through airport migration zones on international flights.

For the deputy director of Migration Control, Martha Hernández, this alternative is key to speeding up migration activities in the country:

“We have seen that Biomig machines are not used to their full capacity by travelers, when they could expedite their passage through immigration control points at airports. That is why we invite you to use this biometric tool and avoid unnecessary lines.”

The official also assured that facial biometrics for foreigners is a fundamental step to meet the growing demand of tourists. In addition, it is considered as one of the commitments of the recently approved National Development Plan Colombia, a world power of life.

Colombia, the only Country in Latin America to Implement Facial Biometrics in Airports

According to the general director of Migration Colombia, Fernando García Manosalva, Colombia is the only Latin American country to implement this technology in its migration processes.

“[Biomig] can potentially benefit the close to 450,000 travelers from other countries who visit Colombia during peak seasons.”

In order to implement facial biometrics for foreigners, Migration Colombia worked hand in hand with Opain, the current concessionaire of the El Dorado Airport, and the National Infrastructure Agency (ANI).

How to Make the Facial Biometrics’ Registration for Foreigners

Biomig for foreigners has five machines located in the emigration area of ​​the El Dorado International Airport. In order for foreign tourists to register, they only have to follow three steps:

  • Locate the passport in the document reading machine to validate and confirm your biographical data.
  • Enter the flight number.
  • Stand in front of the camera so that the machine performs biometric facial recognition.

When the process is completed, the automatic doors will open and foreign tourists will be able to quickly go to the departure lounge.

Migration Colombia ensures that the biometric registration is automatically activated at the time of check-in, by validating the face of the passengers and presenting their passport or visa.

Other Colombian Airports will join the Biometric Registry for Foreigners

The facial biometrics service for foreigners is only available at El Dorado Airport. Migration Colombia hopes to bring this model to the international airports José María Córdova, in Medellín; Rafael Núñez, from Cartagena; and Ernesto Cortissoz, from Barranquilla.

By Audy Castaneda

1...435436437...1,654Page 436 of 1,654