Month: September 2024

The general public is not actively concerned about whether applications are decentralized because they often cannot tell the difference between centralized and decentralized systems, according to Cais Manai, co-founder of Obscuro Labs. What matters more to them, Manai argues, is how decentralization can address real-world issues. Users Set to Value Decentralized Systems More As an […] Source: https://news.bitcoin.com/computer-scientist-users-will-value-decentralized-systems-more-as-web3-tech-matures/

The largest Japanese banks—MUFG, SMBC, and Mizuho—plan to use a stablecoin-based system to facilitate cross-border payments in the future. The initiative, Project Pax, replaces correspondent banks with blockchain technology, linking it to SWIFT to allow users to initiate payments conventionally using regular banking rails. Japanese Banks Aim to Ditch Intermediaries for Blockchain-Based Stablecoin System Traditional […] Source: https://news.bitcoin.com/largest-japanese-banks-to-use-swift-linked-stablecoin-system-for-cross-border-payments/

According to Victor Yu, co-founder of Carv, the current digital ecosystem favors data distributors over data creators. While he acknowledges the usefulness of regulatory frameworks like the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA)in overseeing internet users, Yu believes these frameworks fall short because they do not translate into full user […] Source: https://news.bitcoin.com/serial-entrepreneur-digital-ecosystem-favors-data-distributors-over-creators/

Zambia’s latest move to restrict foreign currency use in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank Governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and is still consulting market participants, with no set implementation date. Kalyalya highlighted that foreign currency use hinders effective monetary […] Source: https://news.bitcoin.com/zambias-dedollarization-plan-aims-to-strengthen-kwacha-stability/

Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct […] Source: https://news.bitcoin.com/binance-kazakhstan-receives-formal-consent-for-regulatory-license/

Last week, the government of Brazil banned X, formerly Twitter, cutting off millions of users from the Elon Musk-owned social network. It is one of the more high-profile examples of restrictions placed on platforms, and disputes around the world span a multitude of reasons: free speech (at least in the U.S.), political dissent, copyright, and illegal activity. While alternate social…

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Pavel Durov, founder and CEO of Telegram, made his first public statement after his arrest in Paris. He was questioned by French authorities for four days over claims that he could be held responsible for illegal activities of Telegram users. Durov expressed surprise, citing that Telegram has an official representative for such matters. He pledged […] Source: https://news.bitcoin.com/pavel-durov-speaks-out-following-paris-arrest-over-telegrams-legal-issues/