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- Japan's PM reiterates commitment to Web3 🇯🇵🤝 Avalanche allocates $50M to on-chain asset token purchases 💰
Japan's PM reiterates commitment to Web3 🇯🇵🤝 Avalanche allocates $50M to on-chain asset token purchases 💰
AI in the crypto world. Ducati takes the Web3 leap.
Manan Vora
July 26, 2023
Snapshot Web3
July 26, 2023
Regulatory Updates
Japan's Prime Minister has expressed support for Web3 technology, signalling the country's focus on blockchain and decentralized breakthroughs. Binance, a major crypto exchange, is set to launch in Japan, validating the country's efforts to promote the crypto sector. Japan's proactive Web3 policy may encourage other nations to follow suit, fostering a more transparent, efficient, and innovative global digital economy. Binance's partnership with local regulators could enhance the crypto ecosystem for Japanese enthusiasts.
The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority has granted Rain, a cryptocurrency firm, permission to offer brokerage and custody services in the UAE. This approval allows institutional and retail users to buy, sell, trade, and store virtual assets through the platform. Binance also received similar regulatory permission in Abu Dhabi in November 2022.
Innovation and Launches
Bunzz PTE LTD has launched "DeCipher," an AI-powered tool for precise documentation generation from smart contracts. It utilizes ChatGPT3.5 and 4 AI models and offers a Chrome Extension for Block Explorer use. DeCipher supports various Block Explorers and allows editing and deployment of contracts through the Bunzz CLI. The ecosystem includes deploying smart contracts across EVM-compatible chains and plans for a tokenomics system for module creators. Bunzz v2 provides a comprehensive web3 development environment. DeCipher aims to create an ecosystem where AI services can connect through its "Machine-Readable Contract Layer."
The Avalanche Foundation launches "Avalanche Vista," a $50 million initiative to promote tokenization on the Avalanche blockchain. Tokenization allows converting off-chain assets into on-chain digital tokens. The initiative aims to explore various use cases and purchase tokenized assets across different liquidity spectrums. Citi predicts tokenization to become the next "killer use case" in crypto, with a potential global market cap of $4 trillion to $5 trillion by 2030, compared to $2.3 billion in 2021.
Trending DApps
NFT and Metaverse
Ducati joins Web3 with Web3 Pro and Ripple's XRPL blockchain, aiming to enhance fan experiences through digital innovations like NFTs. This move reflects the automotive industry's trend of embracing digital technologies and NFTs for better customer engagement. More brands are expected to explore blockchain and NFTs to drive innovation and consumer engagement in the Web3 era.
Cardano NFTs (CNFTs) are gaining popularity despite competition from larger chains. Crypto remains relevant, with Cardano's welcoming community and educational resources. Unique CNFT projects like The Ape Society, Goofy Gophers Mining Club, and Clay Nation stand out for their art and collaborations with celebrities like Snoop Dogg and Good Charlotte.
Resource of the Day
NFT mystery boxes are packages of unknown NFTs that buyers can purchase and reveal after purchase. They offer excitement and potential value, but also risks like uncertain worth, fake NFTs, market volatility, and lack of control. Caution and research are important before buying or selling on platforms like Binance NFT.
Interesting Reads
AI and cryptocurrency are disruptive technologies that are transforming various industries. AI is changing the crypto world through trading, security, and innovation. However, it also brings challenges in ethics, scalability, and competition. Some top AI cryptocurrencies to watch in 2023 include SingularityNET, Ocean Protocol, Numerai, Fetch.ai, and Effect.AI. Embracing innovation while addressing risks is key to harnessing the potential of AI in the crypto world.
Researcher Mehmet Fırat envisions a "Smart Open Education Ecosystem" (SOEE) using blockchain, NFTs, AI, and DAOs to transform the traditional education system. It aims to democratize learning, provide personalized experiences, and address equity issues. Lessons and credentials will be represented as NFTs, and AI systems will personalize learning. The ultimate goal is universal lifelong free education. The SOEE offers 12 benefits, including accessibility, personalization, security, and support for student success.
Quick Links
Ethereum startup Flashbots raises $60 million in a Series B round led by Paradigm. They aim to tackle the issue of maximal extractable value (MEV) on the network. The funds will be used to develop Suave, a decentralized platform for cheaper and more private transactions.
Zero-knowledge (ZK) proofs are gaining popularity in the crypto industry. They allow secure and private transactions, and can connect different blockchains in a cost-effective way. The development of ZK technology is advancing rapidly, making it more accessible for developers.
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The information provided in this newsletter is for informational purposes only and should not be interpreted as investment advice, endorsement, or recommendation. Cryptocurrency investments carry significant risk due to their volatility. You should consider your financial situation, investment goals, and risk tolerance before making any investments. We strongly recommend consulting a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
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