Crypto Market Update 24-02-23

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Hello everyone and welcome to our weekly recap!  📰😎

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Quick question:

Is there an opposite of the Mafia? 🤔😅 Here’s an interesting story, an Italian banker secretly diverted a grand total of € 1M to poorer clients from the wealthy ones so they could qualify for loans.😅 He managed to avoid jail in 2018 by declaring himself guilty. Can we still call him Robin Hood? 🤔😂

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🔴 “US regulators better get together about crypto” 😤

In the light of recent events, we’ve been stating too much frequently about some overreach of certain US authorities and to wrap that up Maxine Waters, a California Representative, said precisely that regulators would be much better joining efforts to take a serious look on crypto (read more). Another Representative, Tom Emmer, this time is trying to prohibit the FED (US Central Bank) from issuing a Central Bank Digital Currency (CBDC). His goal is “to protect Americans’ right to financial privacy.” (read more). A CBDC is a digital form of a central bank.

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🟡 Google, Spotify and Mastercard making moves 🧐

Several multinational companies are making moves into the Web3 space. Proof of that is the most recent partnership between Google and Tezos blockchain (read more). In this partnership, Google will become a validator, which is a participant in maintaining the Tezos network, and Tezos will also benefit by providing Google Cloud customers services using Blockchain technology. Another tech giant, Spotify, is testing a Web3 wallet integration (read more), which means that users who hold certain NFTs in their Web3 wallets will be able to access exclusive content within the music streaming platform, and there's a pretty good real world use case for an NFT right there. 😉 Mastercard is also going to start using cryptocurrencies and decentralised protocols to make real-time transactions (read more). This is the result of a partnership between Mastercard and Immersive, a Web3 payments protocol.  💼

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🟢 Enterprise blockchain is transforming businesses around the world 💫💼

Who said it was Hyperledger Foundation executive director Daniela Barbosa. In her own words “Today, 114 countries, representing over 95% of global GDP, are exploring CBDCs (read more)” and even gave an example where Goldman Sachs, one of the biggest investment banks in the world, used blockchain to make a $100M agreement with other entities. Also in her point of view  blockchain technology has already demonstrated its value in various enterprise use cases, such as funds origin tracking, logistics, cross-border payments, and many other use cases that increase efficiency overall.

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A somewhat neutral news overall, but hey, no bad news is good news, right ? And we keep seeing big players making moves behind the curtain so if you’re reading this you’re already one step ahead 🤫 See you next week, have a great weekend! 😎

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