Blockchain & crypto news from India
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…
Other than for scams and frauds, cryptocurrency has its uses in the world of charity too. Crypto payments are fast – millions can be transferred from one part of the world to another without too many people in the know. Setting an account is easy, and there are no intermediaries. The usefulness of digital currencies…
The pilot study of the CBDC has raised curiosity about the new digital currency. While the responses of participants are expectedly tepid and restrained, the question uppermost on everyone’s mind is – how is this better than UPI/Bhim/Paytm? The retail pilot of CBDC is planned on a limited scale, and currently only on invite basis….
While the Western world is in no hurry with the CBDC, two more countries have announced their upcoming CBDC pilots. Japan has been experimenting with the CBDC technology for some time, and will now launch a pilot CBDC in April 2023. The testing phase was done by PoCs, and the pilot will further test the…
The Central Bank of the UAE (CUAE) has announced a transformation program for the emirate’s financial sector, and its nine initiatives include a CBDC. In order to make UAE a “financial and digital payment hub”, the CUAE has launched the Financial Infrastructure Transformation Programme (FIT). The wider aim is to push the CUAE among the…
The blocks on bitcoin blockchain have consistently begun to breach the 3MB size. The first time this occurred was on February 1, 2023. Bitcoin.com reports that history was made this day when the mining pool Luxor became the first to mine block #774,628 with a size of 3.96MB, the largest so far. Bitcoin blocks are…