Blockchain & crypto news from India
Small government services for citizens are slowly incorporating blockchain technologies to reduce paper work and increase efficiency. California’s Santa Cruz County has recently shared its decision to experiment with blockchain wallets to offer services such as user registrations for parking bikes and recreational vehicles, licensing of pets, and building permits given over the counter. The…
The crypto industry is bracing itself for more regulations following the collapse of FTX, hacking and scams and the unabating popularity of the new world of money. The UK has indicated that it wants to be seen as a hub of innovation when it comes to cryptocurrencies and blockchain, and is expected to work out…
The U.S. Securities and Exchange Commission has invited public feedback on what counts as an ”exchange” in the light of DeFi crypto platforms performing similar trades as a stock exchange. The SEC considers decentralized platforms as similar to an exchange, and thus aims to extend its regulatory framework to DeFi services. There are several ways…
Two major events this week have set new expectations in the otherwise lacklustre cryptocurrency industry hit hard by scams and hacking. The Ethereum chain had moved earlier to the eco-friendly PoS system for validating transactions, but the validators cold not withdraw their staked Ether. The recent Shanghai upgrade now allows them to do so. In…
India founded Polygon blockchain, which is a preferred second level Ethereum scaling solution, recently crossed 138,081 unique active wallet addresses (UAWs) that are related to gaming. Data from DappRadar in a recent Blockchain Games Report shows a 53% rise in active wallets on Polygon compared to February. The other popular blockchains for gaming are Hive…
The number of active crypto wallet users gives a broad picture of the ecosystem of blockchain and crypto users including investors and traders. Despite the recent surge in Bitcoin price, the number of active and unique wallet users in the last quarter of 2023 dropped 9.7% year on year compared to the fourth quarter in…
The National Bank of Australia recently send stable coins on the Ethereum blockchain in what is its first cross-border pilot payment. The bank also used smart contracts for various global currencies, thus testing the use of cryptocurrency for its large clients located outside the country. The bank has created its Australian stablecoin, AUDN, that will…
Play-to-Earn games attract people who want to make a quick buck, and the distressed Indian public has recently seen rapid bombardment of such online or game apps. Crypto business too is involved in such payout games. The FBI in the US has recently shared a note warning about the risk of theft while falling victim…
The private keys are confidential stings of text to access a cryptocurrency wallet. Until now, losing private keys meant losing access to one’s Ethereum account and its funds. A new tool called “Account Abstraction” has been launched by Ethereum that will allow an owner to recover their ETH in the absence of private keys. Referred…
Brazil’s Central Bank will launch the country’s CBDC in 2024. Currently the digital Real currency is in the testing phase. The Digital Real is an innovative way to introduce a national virtual currency by simply tokenizing bank deposits. The IMF too has praised this concept. Tokenizing bank deposits is an easy way to introduce digital…