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blockchain

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February 2023

Why DeFi remains niche and what might get it out of its market rut

DeFi is still a Wild West, and many would-be users are wary of its lawlessness and anonymity. Could decentralized IDs foster greater trust and growth in the sector?

Islamic Crypto Finance

Islamic finance has seen growth in a time where most of the world’s economy has suffered losses. How could its integration into crypto help the industry?

January 2023

Reversing Blockchain Transactions?

Some members of the crypto community are starting to question the insistence that “code is law”. But is technology the only issue surrounding blockchain?

Blockchain as Enabler

The World Economic Forum’s annual meeting has come to an end. What key takeaways were there for the crypto industry?

World Economic Forum’s digital asset head expects real-world blockchain adoption in 2023

Cryptocurrencies post the Terra-Luna, FTX failures were a debated topic at the World Economic Forum meeting in Davos in the week through Jan. 20, with some authorities calling for a doubling down on regulations. Others had a more nuanced view.
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Ethereum’s Shanghai Mainnet moves one step closer as “Shadow Fork” goes live

Software developers for Ethereum, the world’s second-largest blockchain, on Monday said they successfully deployed a copy of the blockchain — or “shadow fork” — to run tests of the upcoming Shanghai hardfork upgrade scheduled for March.

Binance Charity to fund over 30,000 Web3 scholarships in 2023

Binance Charity Fund, the philanthropic arm of the world’s largest crypto exchange, Binance Global Inc., has announced it is funding 30,665 Web3 scholarships in 2023.

2023 Should be the Year of Web3 Security

Despite 2022’s turbulent impact on the crypto industry, Immunefi CEO Mitchell Amador believes this year could encourage better Web3 security.

Accelerator Graviton to help Indian Web3 start-ups get funding

India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding

Filecoin lifting off

The Filecoin Foundation’s Marta Belcher unveils details to send the IPFS into space to speed up long distance communications.

CryptoSlam, Forkast.News merge to form Web3 data intelligence platform

Web3 media company Forkast.News and blockchain data analytics firm CryptoSlam are merging to establish Forkast Labs, a media intelligence platform for the digital economy that will combine on-chain data analytics and journalism.

Crypto’s data problem: Rebuilding trust in a trustless environment

Price is the wrong measure of Web3’s true value, writes Angie Lau, editor-in-chief of Forkast. To recover from Crypto Winter, we need metrics that are less prone to whims and manipulation.

North Korean hackers move 41,000 ETH stolen from Harmony Bridge attack

The Lazarus Group, a North Korean cybercrime organization, has transferred 41,000 Ether (US$63.9 million) stolen from the 2022 Harmony bridge hack onto cryptocurrency exchanges Binance, OKX and Huobi, according to blockchain data shared by Twitter sleuth ZachXBT.

Your fitness app knows a scary lot about you. How secure is your data?

Being on the watch, your tracker knows where you live, when you sleep and how healthy (or not) you are. What happens if your data is sold — or hacked?

It’s Ethereum forking time

Although investors fear the Shanghai upgrade brings selling pressure to Ethereum, Amber’s Justin D’Anethan shares why this can be a bull case for Ethereum.

Web3 Domains

Can blockchain-based websites give you personal domains to ensure

Digital Currency Group in spotlight over suspicious fund transfers

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

Stopping Scalpers

Taylor Swift’s Eras Tour was met with a series of ticketing nightmares as scalpers tried to resell tickets for as high as US$22,000. But could NFTs have solved that problem?

Can human psychology help save blockchain gaming?

NFTs in gaming have drawn mixed reactions, including gamer backlash and vitriol. What can the sector do to better meet gamers’ innermost needs?

Hong Kong pushes ahead with crypto hub plans as tech firms, startups show interest: financial secretary

Hong Kong will continue pushing ahead with the development of the Web 3.0 industry as it aims to become a regional hub for the nascent industry despite the series of collapses of crypto exchanges, said Paul Chan, the city’s financial secretary on Monday.

Animoca Brands slashes Web3 fund target to US$1B: Bloomberg

Animoca Brands Corp. has scaled down the target amount for its Web 3.0 and metaverse investment fund to US$1 billion.

How ‘naming collisions’ threaten the promise of Web3

What are ‘naming collisions,’ and why will unique user-owned identities play a pivotal role in Web3’s future success? Matthew Gould explains.

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

December 2022

Biggest blockchain trends for 2023 and beyond

After a year of new all-time highs for major cryptocurrencies in 2021, 2022 was a challenging year for Web3. Industry experts tell Forkast what crypto has in store for 2023 and beyond.

India’s religious festivals coming to a metaverse near your avatar?

India loves religious festivals, but are its citizens ready to attend such celebrations in virtual reality? An Indian startup reckons they are and launched its first effort this year, saying 20,000 avatars showed up.

Blockchain gets religion? Taiwan temple mints NFTs of local sea goddess

A centuries old Taiwan temple dedicated to a popular goddess has latched onto non-fungible tokens or NFTs as a means for worshippers to get access to pilgrimages and other events.

Worship in Web3

With Christmas around the corner we look at how religions are embracing blockchain and the metaverse.

Decentralized exchanges could gain popularity following the FTX collapse

Ethan Buchman of Cosmos believes that 2023 may be the year of decentralized exchanges and more advanced cross-chain applications.

To unwrap Web3’s promises, we must break the barriers to blockchain adoption

Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.

US bill set to demand know-your-customer from crypto companies

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

Will Bitcoin’s true value prevail in 2023? 

As crypto investors move towards self-custody following FTX’s collapse, Brian Paik wonders whether it could teach people the true value of Bitcoin, beyond hype and price speculation.

What the FTX collapse means for the future of crypto

Centralized exchanges releasing ‘proof of reserves’ is not enough to win back users, while improving user experience will be key, writes Holger Arians of Banxa.

Blockchain Education

According to a Linkedin/OKX report, recruitment in the blockchain industry has always been a challenge, but formal education institutions are taking the lead in training the next generation of talent.

NFTs may become the “Lego blocks” of Web3 in 2023, Gary Liu says

Gary Liu of Artifact Labs believes that NFTs will gain more utility and become the building blocks of Web3

How Web3 can make travel less stressful for future holidays

The travel sector has many pain points and is ripe for disruption, writes Freddie Hickman of Hyper SQ. Here’s what blockchain can do, from tracking baggage to letting you resell your no-longer-wanted air ticket.

Web 3.0 firms must ‘keep costs low,’ improve efficiency to navigate downturns, says Rotten Tomatoes cofounder

Patrick Lee, who cofounded Rotten Tomatoes and PKO Investments, says the US$35 million investment company has slowed Web 3.0 investments significantly.

Web3 Needs Women

Better awareness needed to persuade girls into blockchain careers.

Venture capital firms slow Web 3.0 investments as investors turn cautious

Several venture funds tell Forkast they have become conservative and are only investing in ‘true believers’ of Web 3.0

Could NFTs have prevented Taylor Swift’s concert tickets debacle?

The trillion-dollar concert ticketing sector is plagued by scalping and other Web2-era problems, writes Ryan Kenny of SeatlabNFT. Here’s how blockchain can help fans and artists.

Crypto market implosions, bankruptcies bring sweeping job losses … and opportunity

By some estimates, job cuts in the cryptocurrency-specific industry are running at about 30-40%, which means tough times for employers and employees, and compensation packages are also taking a hit.

DeFi regulation: it’s not a matter of if, but when

The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.

Cold comfort: Is Crypto Winter the right time to invest in Web3?

Amid the current crypto market carnage, Web3’s appeal for investors remains solid — and perhaps even stronger — says CVP NoLimit Holdings founder Gin Chao.

Digital ID Ready?

As the Philippine government ties to roll out a hugely ambitious ID system, we take a look at how blockchain could make data more secure.

Blockchain Security Issues

The blockchain sphere has been hit with a ton of security issues over 2022. What can we do about it to make things better?

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
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November 2022

Philippines’ Blockchain Future

The Philippines might have moved on from Axie Infinity and other NFT collections, but its still steaming ahe

Philippine Blockchain Week: Blockchain adoption struggles in the Philippines as businesses ‘invest to survive’

Blockchain adoption in the Philippines is struggling because businesses are focused on survival, according to Dr. Donald Lim, lead convenor at Philippine Blockchain Week in Manila.

Grayscale holdings questioned amid crypto investment giant’s silence

Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.

Blockchain is transforming capital markets, and Singapore is leading the way: Opinion

Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.

Stablecoin project Ardana on Cardano halts operation

Ardana, a stablecoin project being built on the Cardano blockchain, announced the project has been halted due to funding and uncertainty over its timeline.

Singapore’s DBS bank completes intraday repurchase transaction on JPMorgan’s blockchain-based platform

Singapore-based DBS bank, the largest lender in Southeast Asia, has said it is the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network. 

Hong Kong residents spend most time online globally: NordVPN survey

Hong Kong residents spend the most time online – almost half of their lives – mainly watching videos on YouTube followed by scrolling through social media channels, according to a new survey by virtual private network provider NordVPN. 

Do all Web3 projects need a token?

Should we be questioning which Web3 projects need tokens?

Beyond crypto: Why would companies want cryptocurrency-free blockchains?

Cryptocurrencies are getting in the way of the mass adoption of blockchain technology, especially by tech businesses, says Red Date Technology chief Yifan He.

Blockchain isn’t broken

Despite the crypto meltdown, there’s plenty to be optimistic about.

China’s state blockchain infrastructure Xinghuo BIF partners Malaysian MyEG to fuel global push

China’s state blockchain infrastructure Xinghuo Blockchain Infrastructure and Facility has signed an agreement with Malaysian digital service provider MY E.G. Services Berhad to own and operate an “international supernode,” as China continues its international blockchain push.

Taiwan’s Crypto Future

Taiwan’s economy has taken a hit due to lowered demand for its number one export and repercussions of the Chinese Mainland’s zero-COVID policies. How has that shifted the Taiwanese government’s attitude towards crypto?

Japan’s NTT Docomo to develop Web 3.0 with Accenture, Astar Network

NTT Docomo, Japan’s largest mobile phone operator, has partnered information technology firm Accenture and blockchain infrastructure Astar Network to explore Web 3.0 adoption.

Japan’s Web 3.0 lawmaker urges further easing of country’s crypto regulation

Japan needs to further relax rules for its crypto industry, said lawmaker of Japan’s ruling Liberal Democratic Party Masaaki Taira.

DeFi still has a long way to go before mass adoption

Decentralized finance will stay niche unless the sector overcomes its myriad problems, including a lack of a credit system and regulations that inspire greater trust, writes Brian Pasfield.

Digital Transformation Boost

How can collaboration help advance digital age and blockchain technologies?

How sustainable is that fast-fashion minidress? Blockchain can help you find out

Fashion’s ‘greenwashing’ scandals could be a thing of the past if blockchain is used to hold companies accountable, writes Lars Rensing of Protokol.

LG Electronics seeks Web3 talent for blockchain, NFT efforts

LG Electronics is recruiting chief technical officers (CTOs) to lead the company’s growing Web3 business.

Blockchain without cryptocurrencies: How might China’s BSN change Web3?

By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.

The big problem with Web3

People have been waiting seemingly forever for the arrival of Web3. So why hasn’t it changed our lives yet?

Crypto asset manager HashKey gets Singapore’s in-principle license

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

India forms new crypto advocacy body with Coinbase, Polygon

Cryptocurrency exchanges and Web 3.0 companies, including Coinbase and Polygon, have formed the Bharat Web3 Association in India to strengthen regulation and consumer protection for the industry.

Token price of Ethereum-based play-to-earn company Gala Games falls some 20% after hacking scare

The network says the apparent attack was just a preemptive safeguard against an issue with a cross-chain bridge.

Dashcam maker Hivemapper issues crypto HONEY for road image contribution

San Francisco-based dashcam maker and decentralized mapping service provider Hivemapper issued cryptocurrency tokens HONEY to reward dashcam users for contributing driving data and road imagery on Friday Hong Kong time, according to a press release shared with Forkast.

Curiosity ‘always’ fuels innovation, says blockchain co-creator Stuart Haber 

U.S. computer scientist Stuart Haber, recognized with Scott Stornetta as the co-inventor of blockchain, says he is excited to see the evolution of the technology, not only in the financial sector, but also in entertainment, business, and technology industries.

Standard Chartered invests in Partior blockchain payments platform

London-headquartered banking giant Standard Chartered announced on Thursday that it had invested in the blockchain-based interbank settlement platform Partior, a joint venture of JP Morgan, DBS bank and Temasek.

Singapore’s Project Ubin+ to study cross-border FX with CBDCs

The MAS launched Project Ubin+ on Thursday, a collaborative initiative with international partners to explore cross-border foreign exchange settlements using wholesale CBDC.