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EBay Shows Investors Digital Wallet as It Explores Crypto and Other Payment Options

Jamie Iannone, the CEO of the online marketplace eBay, has been contemplating the possibility of adding bitcoin payment options to the e-commerce site for some time. However, at its 2022 Investor Day on Thursday, the company didn’t make any announcements.

Instead, Iannone emphasized that the organization is looking into “adding additional modes of payment.” However, the e-commerce platform did show a slide for its digital wallet, which would be released in Q2. Payment information is stored in digital wallets, which are computer applications. Apple Pay and Google Pay, for example, are designed primarily for credit and debit cards. You can pay by tapping your phone at the point of sale instead of bringing out your (physical) wallet.

Digital wallets, on the other hand, can hold private keys that allow users to pay in BTC or other cryptocurrencies. Many popular crypto wallets have recently enhanced their functionality to make it easier for consumers to access and trade their NFTs, which are one-of-a-kind tokens that act as digital deeds of ownership to other assets.

What is eBay’s position? Since last year, you’ve been able to purchase and sell NFTs on eBay, which has long been a popular destination for physical collectibles by collectors. Iannone has also made it plain that he intends to target younger clients in various ways, such as moving beyond grandparents selling Hummel figurines out of their basement to sneakerheads and other similarly trendy consumer groups.

The advent of Google Pay and Apple Pay, as well as installment-plan platforms, implies that the marketplace is ready and able to “open up new kinds of payment,” according to Iannone earlier in February.

The wait, on the other hand, persists.

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Business News

Crypto.com Airdrops “The Moment of Truth” (NFT) Collection Featuring LeBron James

Fans who found the hidden QR code in Crypto.com’s Big Game commercial with LeBron James were entered to win an NFT from the ‘The Moment of Truth’ collection.

The young NBA superstar was featured in the video ad for the crypto exchange as he was about to make a life-changing decision–skipping college and joining the league.

“The Moment of Truth” NFT Collection

The ‘Moment of Truth’ collection includes 15 NFTs in three tiers, each covering significant moments from LeBron James’ pivotal choice as well as behind-the-scenes footage from the film.

Tier 2 depicts the nostalgia of LeBron James’ roots, while Tier 3 adds on-set details and Easter eggs. Tier 1 provides views of the GOAT in his native environment.

Those who spotted the QR code and signed up for the Crypto.com NFT platform before Friday were chosen at random as lucky winners.

While all NFTs were distributed for free and are not for sale on Crypto.com’s NFT platform, some may become available for resale.

NFT re-sale proceeds will go to LeBron James’ Family Foundation

According to Crypto.com, earnings from NFT resales will go to the LeBron James Family Foundation.

Crypto.com and the LeBron James Family Foundation formed a multi-year cooperation to develop a curriculum for the I PROMISE School in Akron, Ohio.

The cooperation, which is founded on educational empowerment ideas, will provide Web3 development possibilities to kids and their families.

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News Social Good

Humanium Metal & Alchemist501 Drop NFTs To End Gun Violence

Humanium Metal has teamed up with the Maverick group to help prevent gun violence by using NFTs. The collection, which was inspired by Humanium Metal, will donate all secondary sales to HM in order to remove illegal guns off the streets. The three have formed Alchemist501 with the help of Tuan Le, a well-known shoe designer. They’ll team up to create the first-ever metaverse sneaker line dedicated to ending the cycle of gun violence.

Alchemist501 will become the first-ever NFT collection to restore communities ravaged by gun violence in a provable manner, thanks to Humanium’s resources. Humanium has weapon destruction activities all across the world, from El Salvador to South Africa. HM has destroyed 12.000 guns in many nations since 2016. With a recent presence in the United States, the team is hoping to make significant progress on the blockchain.

For the foreseeable future, all secondary sales of the NFT collection will go straight to Humanium Metal. Furthermore, half of the royalties earned during the mint phase will be contributed to help the project’s influence on gun violence. On April 13th , the collection will be available exclusively on Nifty Gateway. Nifty Gateway, as a renowned NFT platform, has backed the Alchemist501 project and will send the proceeds directly to the charity. Following that, the cash will be used to assist communities around the world who have been harmed by gun violence.

Each NFT will be more useful in furthering the Alchemist501 brand. At this time, no information on the new feature has surfaced. Each pass, on the other hand, will provide holders with unique metaverse experiences across the web3 ecosystem.

“Gun violence is a global pandemic, with more than 2,000 people injured by gunshots every day. We want to show the world that the NFT community is a beautiful place full of good people, that collectively can become champions of social change by supercharging goodwill into something truly revolutionary.” -501 Team

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Business News

Music Sharing Service LimeWire Is Back As An NFT Marketplace

A prominent early-2000s peer-to-peer music sharing service called LimeWire is getting a second act. The new owners of LimeWire stated today that the long-dormant brand will be revived as an NFT marketplace, initially focusing on music and associated collectibles.

LimeWire, led by co-CEOs Paul and Julian Zehetmayr, a pair of serial digital entrepreneurs, will launch in May. According to Decrypt, the brothers bought the LimeWire brand last year in order to revive it to a new generation of digital listeners.

“We greatly admire the strength and enthusiasm that surrounded the LimeWire brand and what it represented to a generation of consumers,” they stated, “and we couldn’t be more pleased to bring it back to life in the fast-paced world of digital collectibles, music, and entertainment.”

LimeWire will be managed by a brand-new staff with no ties to the old company, which started in 2000. After a series of legal challenges from record companies alleging copyright infringement against LimeWire, the original service was shut down in 2010 due to a legal injunction.

The relaunch, according to the Zehetmayrs, is an opportunity to change LimeWire’s long-term narrative. Rather than allowing users to freely exchange songs, as the old LimeWire did, the new LimeWire aims to assist artists by allowing them to sell NFTs that represent songs, providing consumers with a direct link to the musicians they support.

The co-CEOs stated, “LimeWire is returning as a platform for artists, not against them.” “On LimeWire, the majority of the money will go straight to the artist, and we’ll be working with creators to provide them complete flexibility, ownership, and control over their content.”

The new LimeWire marketplace aims for accessibility in order to attract a larger user base. In collaboration with Wyre, it will price NFTs in US dollars and accept credit cards, bank transfers, and other fiat currency payments. Know-your-customer (KYC) compliance measures will be in place, and the use of a self-custodied crypto wallet will not be required.

The company hasn’t said which blockchain network it’ll use, but according to a press release, it’ll be cost-effective, energy-efficient, and have quick transactions, as well as a “main blockchain” that can connect assets to Ethereum and the sidechain scaling solution Polygon.

LimeWire plans to start with music NFTs and related collectibles from performers, such as digital artwork and films, but will progressively grow beyond that initial subject. Later this year, the curated platform will launch its own token, which will include governance features such as voting on who should be included in the platform, as well as access to exclusive content and discounted prices.

The company has hinted at a number of collaborations with “important musicians” in the music industry, but none have been confirmed as of yet. LimeWire will have Tareef Michael, the manager of the hip-hop group Wu-Tang Clan, as an advisor.

An NFT is a digital file that works as a deed of ownership. An NFT can represent digital artwork, profile images, video files, and interactive video game components in addition to music. In 2021, the total trading volume of the NFT business surpassed $25 billion.

Music NFTs are predicted to be one of the next big things in the space, with some industry insiders believing that blockchain-backed assets like this can disrupt the traditional music industry. NFTs have been issued by artists such as 3LAU, Nas, Kings of Leon, and Snoop Dogg, and in many cases, the owners receive royalties when the tracks are streamed.

LimeWire’s goal, according to the Zehetmayrs, is to provide fans with an alternative option to support artists and possess unique recordings such as demos, samples, and exclusive tracks, rather than to compete with streaming music companies.

“We’ve noticed a desire across the industry to reclaim control and ownership, and we’re here to help artists and creators do just that,” they stated. “We regard NFTs as collectibles in the same way that vinyl is, and we feel a brand like LimeWire is needed to bring the concept of owning digital artifacts popular.”

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Business News

Tron Founder Justin Sun Rebuts Bombshell Accusations About Poloniex

Justin Sun, the Chinese born tech-preneur and founder of TRON has expressed his intention to  file a lawsuit in response to explosive statements made by tech journals, the Verge, about his  management of the Poloniex crypto-exchange and leadership of the TRON blockchain network. The Verge said that Poloniex’s investment in 2019 was a blatant fabrication and a defamation of the Poloniex company.

Sun was accused of utilizing Poloniex and TRON to engage in a range of unlawful business actions.  An essay titled “The Many Escapes of Justin Sun ” was written by Christopher Harland Dunawayin September 2020.  was an equally explosive piece on Sun’s purchase of BitTorrent.

Sun, in a series of tweets, says that Poloniex has strong risk management and strong financial assets. This has allowed Poloniex to provide top-of-the-line services to its customers over the course of its history.”

He added , “Furthermore, we have always strived to collaborate with regulators and invested in state-of-the-art KYC facilities in line with the industry standard.”.”

He goes on to contradict the article’s allegation that the exchange is based in Seychelles, as well as the fact that it does not serve US residents. Following Circle’s purchase of Poloniex, the exchange announced that US customers would be unable to access the site beginning in December 2019.

Poloniex pushed forward with a platform to launch initial exchange offerings in April 2020. The exchange will provide a venue for launching initial coin offers (ICOs) as well as a mechanism for selling tokens on the platform. This is despite the United States Securities and Exchange Commission’s regulatory oversight. The exchange allegedly settled with the  United States Securities and Exchange Commission (SEC) for a whooping $10 million over the agency’s allegations that it listed securities before Sun’s purchase of Poloniex.

Sun is no stranger to controversy from buying dinner for Warren Buffett, an anti-Bitcoin investor, to allegedly paying  celebrities  to promote TRON, an allegation he vehemently denies and more recently complaining that Ukraine would not airdrop crypto to TRON users. Let’s wait and see what more Sun has in store for us.

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Business News

Bitcoin, Ethereum Rally as Crypto Markets Recover


Bitcoin and Ethereum both saw significant overnight increases, bringing the crypto market back to life.

Bitcoin, the most valuable cryptocurrency by market capitalization, broke beyond the $42,000 barrier early Wednesday. Bitcoin’s price is hovering at $42,000 at the time of going to press, up over 8% on the day, according to CoinMarketCap. Ethereum, the second-largest cryptocurrency, rose 7.7% in the last 24 hours to $2,800.

The encouraging news comes in the midst of an unpredictable macro environment, as all markets, including crypto, react to Russia’s escalating invasion of Ukraine. Bitcoin was trading at $37,387 on Monday, while Ethereum was trading at $2,467. Both assets have climbed a total of 12.85 percent and 13.49 percent from their lows to their current highs.

Bitcoin still controls 41.3 percent of the cryptocurrency market, with Ethereum accounting for just over 17 percent. The total value of the cryptocurrency market has increased by 7.7% in the last 24 hours, rising from $1.7 trillion to $1.91 trillion. Aside from Bitcoin and Ethereum, other significant cryptocurrencies in the top 10 have also contributed.

Following the announcement of a $290 million incentive scheme, Avalanche has gained 8% and is now trading at slightly over $78. Called Multiverse, the funds are planned to be utilized to finance the development of games, NFTs, and DeFi initiatives on Avalanche.

Cardano and Solana have also seen moderate gains, with the former up more than 4% and the latter up little more than 6%. Terra and its native token LUNA, on the other hand, have seen the most gains today.

The network that hosts DeFi’s second-largest ecosystem has surged by over 20% overnight and is now trading at around $97.


Bitcoin, Ethereum react to leaked Yellen note

The current trend reversal appears to be the result of a leaked press statement from US Treasury Secretary Janet L. Yellen, which describes how the government intends to regulate the industry.

The press release was supposed to go out on Wednesday, but it was accidentally issued on Tuesday at about 6 p.m. EST. The contents of the now-deleted note indicate that the Biden administration will take a far more positive attitude.

According to the news release, the administration “will support responsible innovation that could result in considerable advantages for the nation, consumers, and companies.”

Yellen also stressed the necessity of tackling dangers associated with the criminal use of cryptocurrencies as well as consumer protection, both of which have been hot subjects for the administration when it comes to regulating the market. According to Yellen, these goals will be pursued through “interagency” coordination. The growth of Bitcoin and Ethereum implies the market was expecting something a lot worse, despite the details indicating a cautious step forward from regulators.

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Business News

4 Blockchain Use Cases Solving Africa’s Problems

Cryptocurrencies and the ecosystem that surrounds them are becoming synonymous with blockchain technology. This has featured DeFi and NFT applications, both of which have exploded in popularity in recent years.

However, blockchain technology has also been employed in other industries outside of banking, particularly in Africa.

Here are four examples of African countries and groups using blockchain to solve some of the continent’s pressing issues.

Enabling All-in-One Citizen Identity Card – Kenya
Kenya’s government is implementing a large-scale initiative that would allow Kenyans to get services with just one card.

“Huduma Namba”, which translates to “Service Number,” is the Kenyan government’s plan to create a single identity number and card system that will assist citizens to get better service.

The following registrations will be merged into a single Huduma Number:

√ Registration and replacement of ID Card

√ Application and renewal of Driving License

√ Registration for Passport and Alien Card

√ Registration for NHIF and NSSF cards

√ Registration for Birth and Death Certificates

Enabling All-in-One Citizen Identity Card – Kenya video

Push to Boost Education Performance – Ethiopia

The Ethiopian government is creating a blockchain-based national student and teacher ID and accomplishment recording system in collaboration with Cardano Africa.

The system is there to:

  • Digitally verify grades
  • Remotely monitor school performance
  • Boost nationwide education and employment

The aim is to give all students blockchain-verified digital qualifications that reduce fraudulent university and job applications and increase social mobility by allowing potential employers to verify all grades without third-party agencies.

Push to Boost Education Performance – Ethiopia video

Simplifying the Sharing of Shipping Documents – Egypt

In 2021, Egypt’s government, through its customs department, launched the National Single Window for Foreign Trade Facilitation – NAFEZA — an integrated information portal.

The platform was created to make the sharing of maritime and transportation documentation easier by providing a single point of entry for all agencies to accept documents from all traders. All paperwork and transactions for customs, control authorities and ports can be submitted by businesses and the trade community.

CargoX, a blockchain firm that has developed a Blockchain Document Transfer (BDT), was chosen to register and transfer shipping papers immutably utilizing Ethereum blockchain technology.

Simplifying the Sharing of Shipping Documents – Egypt video

Giving Everyone Access to the Internet – Zanzibar

Mesh internet network operator, World Mobile, has teamed with the Zanzibar eGovernment Agency to launch free metered Wi-Fi Internet access at public-facing government facilities.

World Mobile believes it is the first blockchain mobile network controlled and run by World Mobile Token ($WMT) owners.

The startup has created a blockchain-powered wireless mesh network, which is made up of a collection of devices or nodes that work together to share data and information without relying on a single point of failure.

The major objective of the $WMT, according to World Mobile’s whitepaper, is to incentivize token holders who want to assist the network’s operation by delegating their $WMT stake to a node operator (stakers), as well as node operators who operate their own nodes.

Outside of banking, the above are some of the more fascinating blockchain applications being implemented in Africa. The continent is littered with solutions applying blockchain technology.

Giving Everyone Access to the Internet – Zanzibar video



Sourced from BitKE

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Business News

How crypto is faring in a time of war

While the cryptocurrency market has been volatile in recent months, it is presently in high demand on the battlefield. Since Russia’s invasion of Ukraine, digital currencies have been in the news, with the ever-volatile bitcoin on high demand.

Here are some charts depicting the performance of cryptocurrencies during the greatest attack on a European country since World War 2.

CORRELATION CONUNDRUM

Is there a link or not? That’s been the question for Bitcoin for a long time, with the original cryptocurrency dancing to the rhythm of the stock market at times and not at others.

Bitcoin fell as much as 8% on Thursday after Russia launched its attack on Ukraine, as investors fled riskier assets, before clawing back the losses for the day. The S&P 500 gained 1.5 percent while European markets plummeted 3.3 percent.

Bitcoin’s and stocks’ fates have subsequently intermingled again, albeit to varying degrees.

“It’s still largely been correlated with US equities throughout this crisis,” Joseph Edwards, head of financial strategy at crypto firm Solrise Group, said of Bitcoin.

A SAFE HAVEN?

Crypto fans think Bitcoin as “digital gold,” a good way to deposit funds during conflict or calamity. According to the argument, Bitcoin is more secure than traditional currencies because it has a finite quantity and works on a worldwide computer network beyond the control of governments.

Things are seldom that straightforward. Bitcoin’s safe-haven credentials are unclear: it frequently behaves like risky assets like stocks.

Bitcoin’s qualities, according to investors, fuelled demand and helped it outperform other traditional havens during the war. The US 10-year Treasury yield has dropped 8.7% since last Wednesday, while gold is up 2.6 percent.

Analysts believe the steps will do little to resolve debates over Bitcoin’s safe-haven qualities.

“We don’t think Bitcoin is being viewed as a safe haven, nor should be, but instead its appeal is it’s a supply capped, credit free, digital bearer asset that is proving to be a viable alternative to traditional finance in this current environment,” said Richard Usher at crypto firm BCB Group.

“If the situation continues to escalate and risk markets badly suffer it will struggle to rally further, but in our view still outperform.”

ROUBLE ROOTED

As the rouble has been pummeled by Western sanctions aimed at squeezing Russia’s economy and cutting it off from the global financial system, cryptocurrency trading has exploded in Russia.

On Thursday, the Russian ruble fell to an all-time low of 118.35 per dollar.

According to researcher CryptoCompare, trading volumes between the rouble and major cryptocurrencies reached 15.3 billion roubles ($140.7 million) on Monday, up thrice from a week earlier.

The statistics indicated that rouble-denominated trades using Tether, a so-called stablecoin designed to maintain a constant value, reached 3.3 billion roubles on Monday, the biggest this year and nearly five times more than a week earlier.

According to the data, Russians are rushing to convert their wealth to cryptocurrency.

The conflict has contributed to the idea that Bitcoin “is not simply a speculative asset, but is also a seizure-resistant, policy-independent, longer-term store of value,” said Noelle Acheson, head of Market Insights at New York-based Genesis.

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Business

The Crypto industry says it is complying with Russian sanctions

Crypto advocates argue that digital assets are an impossible alternative for the Russian government and any oligarchs attempting to avoid Western sanctions. They claim that the $2 trillion cryptocurrency market is insufficient to suit Russia’s financial demands.

They also claim that the ability of authorities to follow large transactions on the blockchain, the transparent digital ledger that underpins cryptocurrencies, makes it nearly difficult for billionaire Russian oligarchs to utilize it to move significant quantities of money discreetly.

“Because the fines we’re seeing are so large, crypto just doesn’t have the depth to prevent the kinds of evasion we’re seeking to prevent. And if an oligarch tries to move $10 billion, it will be completely clear and spotted by people who operate the on and off-ramps in the industry “said Jerry Brito, executive director of the Coin Center, a crypto think tank. “This is such a red herring,” says the narrator.

Key officials of the Biden administration and Capitol Hill are skeptical. In testimony before the Senate Banking Committee on Thursday, Federal Reserve Chair Jerome Powell stated, “I believe it really highlights the necessity for a strong regulatory environment that permits proper activity while preventing wrong conduct.”

Powell stated, “We do have laws on the books and all that.” “However, we need a legal framework for digital money in general that eliminates as much as possible the danger that people may use unbacked cryptocurrencies to cheat the law, finance terrorists, or hide their ill-gotten wealth.”

Powell was responding to a question from Senate Intelligence Committee Chairman Mark Warner, D-Va., who addressed Treasury Secretary Janet Yellen on Wednesday, asking what the department is doing to guarantee that targeted Russians do not utilize crypto to evade sanctions.


“Strong sanctions compliance enforcement in the cryptocurrency business is vital,” they stated, “given that digital assets, which allow entities to bypass the traditional financial system, may increasingly be utilized as a vehicle for sanctions evasion.”

According to the Wall Street Journal, Yellen termed crypto a “channel to be watched” in remarks during a speech in Chicago on Wednesday and said Treasury may fix loopholes that the technology offers in its penalties. Many crypto participants, she continued, are already subject to anti-money laundering and sanctions regulations.

The United States has levied dire economic penalties on Russia in response to its invasion of its neighbor. Cut off the Russian central bank and freeze its assets in the United States; sanction a number of top Russian banks and other companies; close U.S. airspace to Russian flights; work with European allies to disconnect Russia from the international financial network known as SWIFT, and personally target Russian President Vladimir Putin and his inner circle.

The largest crypto trading platforms, such as Coinbase and FTX, claim that they are complying with sanctions and that they already follow the same rules as traditional financial institutions in terms of collecting data on users and detecting suspicious conduct.

According to Michelle Bond, CEO of the Association for Digital Asset Markets, the industry takes sanctions compliance “extremely seriously and employs a range of techniques, including the use of blockchain analytics, transaction surveillance, and internet geotagging.” “We are approaching a period in which extreme caution is required, and continuing public-private information exchange will be critical.”

The biggest cryptocurrency exchanges have rejected Ukrainian deputy prime minister Mykhailo Fedorov’s proposal to exclude all Russians from their platforms in order to “sabotage ordinary users.” “Freezing access to digital assets of residents from a whole country does not necessarily punish those who are genuinely responsible and who may have been prepared for the potential of blanket sanctions,” according to Kraken, a leading exchange that turned down Federov’s request.

According to TripleA, a Singapore-based crypto payments startup, more than 17 million Russians, or about 12% of the country’s population, own bitcoin. In Ukraine, where approximately 13% of the population, or over 5.5 million people, hold digital assets, adoption is much greater.

According to statistics from Kaiko, a Paris-based crypto analysis firm, demand for cryptocurrency has increased in both nations since the crisis began, with Ukrainians and Russians racing to buy bitcoin and Tether, a so-called stable coin whose price is tethered to the US dollar. Over the last week, the price of bitcoin has increased by 18%.

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Business

Billboard partners with Universal Music on new NFT platform

Billboard, the world’s largest entertainment publishing company, has partnered with Universal Music Group, the world’s largest music entertainment company, to launch ChartStars, a collection of handpicked digital collectibles that will be available on the Flow blockchain beginning in May.

ChartStars will be a collection of “artist-focused digital artwork” developed to commemorate a variety of milestones and significant moments in Billboard Charts history, according to a statement made last Friday. The collectibles cover a wide range of media, proving that anything can be converted into an NFT. For example, ChartStars will showcase “legally licensed art” and creative works, such as short visual excerpts from music videos and album photographs.

Collector leaderboards, challenges, and actual usefulness embedded into the smart contracts, including unique access at Billboard Live Events, will be implemented into the Flow blockchain platform, according to Billboard.

According to the announcement, Universal Music Group will sift through its roster of artists and labels to commemorate Billboard chart achievements for songs that debuted on Billboard’s Top 25 as well as other influential chart-related successes, such as chart length, simultaneous number of songs on the chart, and historic chart records.

According to the announcement, Billboard is also collaborating with Dapper Labs’ NFT platform Unblocked to enable ChartStars to accept credit card payments for digital collectibles and run on the environmentally friendly Flow blockchain.

“For the first time, music fans will be able to share ownership of a moment in time with their favorite musicians,” Billboard President Julian Holguin said. “With visually beautiful design, these digital artifacts will honor and commemorate extraordinary chart milestones,” he says.

“By harnessing its iconic charts for these fascinating digital artifacts, Billboard is creating a ground-breaking new approach for artists and fans to honor unique milestones and cultural events,” said Michael Nash, executive vice-president of digital strategy at Universal Music Group. We’re pleased to work together on this new breakthrough and provide even more opportunities for our artists to reach their full creative and commercial potential while strengthening their relationships with their fans. These projects, which will be created under the creative direction of our artists, will be one-of-a-kind collectibles that every fan will want to have.