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June 2023

Wall Street-backed crypto exchange a sign of lingering interest despite SEC’s crackdown

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

How Japan is illuminating the path of blockchain’s future: Opinion

In the Land of the Rising Sun, where the culture and ethos already align with the principles of blockchain games, the dawn of a new era of in gaming has arrived, writes Daiki Moriyama of Oasys.

Hong Kong’s Cyberport signed up 150 Web3 firms in past year, says city’s financial secretary

Paul Chan, Hong Kong’s financial secretary, said more than 150 Web3 companies had registered at the Cyberport business park.

SEC’s crypto battle continues as Asia marches ahead with metaverse

In this week’s Forkast IQ with Megha Chaddah, we dive into the U.S. SEC’s crypto crackdown and the state of the East Asian metaverses.

Japan’s Fujitsu to launch blockchain-based project for cross-border collaborations

Tokyo-based information technology company Fujitsu will launch a new platform on June 30 to connect different economies using blockchain.

Back to the physical: China metaverse seeks to boost real-world economy

The final story in a three-part series on Asia metaverse developments looks at China’s national strategy, which has seen dozens of cities and provinces release spending plans and training schemes to adopt this digital world in real-world industries. China’s initiatives, however, face challenges from regulation and global competition.

Insights from Dubai’s cryptocurrency scene as city looks to be global digital assets hub

Ghassan Jumblat, fintech director at financial services company Integrated Communications Channel discusses the evolution of the cryptocurrency and blockchain industry in Dubai in the United Arab Emirates, as the city positions itself as a future hub for digital assets.

Ledger is proving the perils of sacrificing security on the altar of user experience

Ledger’s attempt to simplify self-custody and key recovery triggered a community revolt. Was this inevitable or could Ledger have sidestepped this fiasco?

JPMorgan teams up with Indian banks for blockchain-based settlements: Bloomberg

JPMorgan has reportedly launched a pilot project with top private lenders in India for interbank dollar transaction settlements through its blockchain platform, Onyx. 

What’s next for crypto miners after US debt ceiling deal?

Top blockchain and crypto news: Miners dodge tax bullet. Blur, Binance heat up NFT lending. Chinese cities’ plans reveal nationwide Web3 ambition.

May 2023

Hong Kong Web3 industry forms new associations to push crypto hub ambition

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

Beijing releases Web3 white paper, highlights challenges in talent, rules

Beijing’s local government on Saturday released a white paper outlining plans and challenges for development of the city’s Web 3.0 industry.

China: Zhengzhou City proposes metaverse plan

China’s Zhengzhou city issued a set of policy proposals Wednesday to support metaverse companies, including a 10 billion yuan (US$1.42 billion) metaverse fund.

Why GameFi is the future of the new player economy

Opinions about Web3 gaming remain divided, but it’s undeniable that NFTs and GameFi offer players big opportunities, writes Ramona Ciocea of Protokol.

In battle to be Asia’s crypto hub, which city will emerge victorious?

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

DAO communities – we need to talk about decentralization

Just how decentralized are today’s DAOs? When compared to the world’s largest transnational corporations, not so much, says Pat Rawson, co-founder of Web3 innovation network Curve Labs.

China’s Nanjing city launches state-backed metaverse entity

China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.

Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 2

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

How blockchain can shift electric car use into the fast lane

Electric vehicles remain rare in developing countries because of high costs and ‘range anxiety,’ writes George Cox of eTukTuk. Here’s how blockchain technology can remove those barriers.

Is Tether unmoored — or just dandy?

Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.

Philippine telco giant partners BlockchainSpace for Web3 creator platform

Smart Communications, one of the Philippines’ largest telcos, is entering the Web3 space through a partnership with Web3 community enabler in Southeast Asia, BlockchainSpace.

Web3 needs to engage with local communities. Its future depends on it

Web3’s terrible user experience, scams and lack of diversity could be solved if its leaders take a cue from environmentalists and ‘act locally,’ writes Tim Williamson of NieuxCo.

Tokenization is changing the world, from finance to art

Fractionalizing assets on the blockchain opens up investment opportunities for the public and the capital market’s access to liquidity, writes Bob Ras. Here’s what’s holding it back.

Looking to expand Web3 activities into Japan? Watch the biggest firms for clues, says gaming protocol founder.

While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.

Japan government’s crypto czar touts nation’s Web3 capabilities

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.

Japan looks to regain its place in the cryptocurrency world pecking order

The three-day NexTech Week trade show kicked off Wednesday in Tokyo, celebrating all things technology, including blockchain and Artificial Intelligence.

Goldman Sachs, Microsoft, Moody’s, others to join new financial industry blockchain

Goldman Sachs, Microsoft, Deloitte, Moody’s and other institutions are partnering with Digital Asset for the launch of the Canton blockchain.

How blockchain gaming can break out of its niche and win over more people

It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.

Bitcoin transaction fees surge, El Salvador users suffer consequences

Skyrocketing activity has led to a surge in average Bitcoin transaction fees — which rose to US$31.15 as of March 8 — exerting increasing pressure on users in low- and middle- income economies including Bitcoin-reliant communities in El Salvador, the first country to implement mass adoption of the digital currency.

Why DAOs and collective collaboration are key for Web3 to realize its potential

Free of the hierarchies and power dynamics in traditional companies, DAOs can allow Web3 organizations to do better, writes Arjun Kalsy of Mantle.

Largest banks should fill crypto void after lender failures, says Standard Chartered’s Geoff Kendrick

In the final installment of a three-part interview series, Geoff Kendrick, head of crypto research at Standard Chartered Bank, outlines the lender’s approach to crypto and why he thinks exploration of blockchain use cases is just beginning.
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How standardized smart financial contracts could prevent crypto’s next black swan

Many tokenized platforms have grave shortcomings, but if better standards could be adopted, the improved transparency can avert future crises, writes Ralf Kubli of the Casper Assn.

Why layer 3 is critical to innovation and blockchain’s future

How would layer 3 improve upon what layer-2 protocols do, and what barriers does this emerging technology still need to overcome? Tony Cheng of Foresight Ventures explains.

April 2023

Investment giant Franklin Templeton connects US$270 million fund to Polygon network

Franklin Templeton said Wednesday that its OnChain U.S. Government Money Fund is now supported on the Polygon network.

Until Web3 offers a better user experience, the masses will stay away

People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.

India’s finance minister lauds DLT, says crypto regulation does not mean technology control

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

Bittrex in SEC’s crosshairs as compliance lawsuits keep coming

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Why trustless oracles are vital to Web3’s future

What are ‘trustless oracles,’ and how will they shape the development of the metaverse and Web3? Markus Levin of XYO and XY Labs explains.

How blockchain can counter fake news and preserve history

In this era of disinformation and deep fakes, what can blockchain technology do to safeguard the truth about humanity’s shared past?

East meets West at DAO Tokyo conference as Japan plays catch up

The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.

AI has taken over crypto’s share of VC funding, says Mysten Labs founder

Crypto’s share of venture capital money is now going to artificial intelligence, says Mysten Labs founder, Evan Cheng.

Ethereum rolls out Shapella upgrade amid worries over price pressures

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Ex-chief of HKMA heads Hong Kong’s new Web3 institute

Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.

Ethereum blockchain upgrade unlocks US$34 billion in Ether, what does it mean for crypto prices?

The upcoming upgrade to the Ethereum blockchain will allow users to withdraw millions of “staked” Ether, the native cryptocurrency, for potential sale. That would typically indicate a flood of selling pressure awaits the token, but not everyone is buying that.

Hong Kong financial secretary eyes Web3 push despite market fluctuations

Paul Chan said it is the right time for the city’s Web3 push ahead of Hong Kong’s busy week of blockchain and finance gatherings.

Bitget exchange starts US$100 mln fund to support ‘next-generation’ crypto projects

Bitget on Monday said it had launched a Web3 Fund with an initial investment of US$100 million to support development of cryptocurrency projects.

Web3 is not all about ‘ownership’ — it’s so much more

Ownership is only one feature of Web3. The more important and defining characteristic is ‘verifiability,’ writes Jonathan Victor of Protocol Labs.

Arbitrum’s AIP-1 proposal to be split after community backlash

Top blockchain and crypto news: Arbitrum to segment AIP-1. DeGods NFT collection moves to Ethereum. Crypto on the agenda at ‘China’s Davos.’

Web3 can change the world. Why aren’t more people on board?

Despite Web3’s vast potential, it’s still too clunky and opaque to most people, writes Miles Parry of MPCH Labs. Here’s what can make it more user-friendly.

March 2023

Why rollups-as-a-service will be to Web3 what AWS was to Web2

The blockchain world is hampered by many of the same problems as the early internet, writes Amrit Kumar of Altlayer. What could RaaS do for the industry?

What impact will Ethereum’s Shanghai upgrade have on ETH and crypto markets?

Despite the potential sell pressures after Ethereum’s upcoming hard fork, it’s more likely that ETH stakers will hold for the longer term, writes Bill Xing of Bybit.

Hong Kong blockchain initiatives natural evolution for finance hub, says Signum Digital CEO

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

Hong Kong poised for ambitious changes

Hong Kong has opened its doors to the world once more, and it spared no time hosting blockchain and web3 focused summits.

How DAOs can be remade to be more efficient and successful

DAOs are exploding in popularity but still hampered by weak governance and treasury mismanagement. What can help these novel organizations become more effective?

Bitcoin buoyed as bank busts spook investors

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

Over 80 Web3 firms in line to set up shop in HK, ahead of crypto regulations taking effect in June

Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June

Enterprise software giant Salesforce partners with Polygon for NFT-based loyalty programs

Salesforce has partnered with Polygon Labs to help its clients develop non-fungible token (NFT) based loyalty programs on the Polygon blockchain.

A crisis of value?

Why the banking collapse could save NFTs.

Women in crypto

Why progress isn’t the end of inequality.

Silvergate teeters as regulators circle and crypto firms cut ties

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.

The digital economy needs a better BS detector — so we are building it through data transparency

Blockchain data is public for all to see. The irony is that few know what to look for, and why. A new set of indexes by Forkast Labs filters out the noise and offers data intelligence and clarity.

China’s Blockchain Bet

The Chinese “Two Sessions” meetings began over the weekend, and blockchain technology could be at the forefront of Beijing’s vision for growth

What Web3 must do if it wants to attract 1 billion users

Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.

Ethereum core developers delay Shanghai hard fork to early April

The expected launch of the Shanghai hard fork has been delayed from late March to the first two weeks of April, according to Ethereum developers on Thursday.

Where is China’s digital economy heading? The ‘Two Sessions’ may give some pointers

Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.
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Australia’s central bank identifies CBDC use cases as it prepares pilot launch

Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.

Japanese banks to launch, test stablecoins on ‘Japan Open Chain’

Three major banks in Japan will issue stablecoins on an Ethereum-compatible blockchain created by the blockchain-related tools developer G.U. Technologies.

What policymakers need to know about the metaverse to make the real world a better place

The metaverse has the potential to make the real world more just and inclusive, writes Sébastien Borget of The Sandbox. Here are the key ingredients for its future success.

Indonesia’s Crypto First

Indonesia’s crypto coming of age could help them become a blockchain superpower

Blur NFT wash trading soars, fueling market distortions

Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.

February 2023

Huawei forms Web3 alliance with Polygon, Morpheus Labs, others

Chinese smartphone maker Huawei partnered with multiple overseas Web3 firms, as part of the company’s blockchain and metaverse venture.

Crypto Crimes Surge

2022 saw a lot of cryptocurrencies traded illicitly through various crypto exchanges – but that figure only represents less than 1% of all crypto transactions performed. Could things be looking up?