What Happened in the Crypto Industry & NOBI Over The Last Week?

Can’t believe we’re already at the end of August. In this fourth week, the crypto market is still under high pressure and volatility. However, overall the price action of 10 big cap assets is still in a sideways pattern. But the good news keeps coming, including Australia, which is increasingly pro-crypto, by showing its crypto regulatory stance through crypto token mapping. Then, what else?

Another week has passed. The market is getting better, and crypto spring is getting closer every day. Let’s take a look at what’s new and interesting we have for you!

1. Increasingly Pro Crypto, Australian Government Shows its Crypto Regulatory Stance Through Crypto Token Mapping

Currently, the Australian government is starting to map out which crypto tokens can be officially used and how they are regulated. This positive outlook was well received by many parties. The reason is, that this regulation will make Australia the first country to map the number, type, and base code of existing cryptocurrencies.

The Australian government is still aggressively boosting the implementation of crypto-related regulations in its country. The goal is to provide clarity and security for all local crypto investors. The government itself has actually dreamed of this for a long time; moreover, if you look at the amount of potential that exists from crypto. Data from the local tax office says that more than 1 million people have “interacted” with crypto since 2018.

2. Mastercard CEO: The Full Potential of Blockchain Technology Can Be Unlocked When Easily Accessed

Mastercard CEO Michael Miebach said Tuesday (23/8) that all parties can unlock the full potential of blockchain technology when it makes it more accessible and easier to use. In this regard, one way Mastercard is doing it is by bringing crypto adoption into everyday purchases.

Walter Pimenta, Executive Vice President, Products, & Innovation Mastercard Latin America and the Caribbean, said that their work with digital currencies is built on a strong foundation to enable choice and peace of mind when people shop and pay.

3. Facebook and Twitter Will Be Obsolete Thanks to Blockchain Technology, What’s the Reason?

Reportedly, Facebook and Twitter will soon be obsolete thanks to blockchain technology. On Twitter and Facebook (Web2), users do not have full ownership of the content as well as their own followers. However, that system will no longer occur in Web3. Web3 is open, trustless, and permissionless. Web3 is intentionally designed to address the prevalent and inherent problems of today’s internet ecosystem.

Today’s social media is dominated by Web2 companies, where they will collect data from billions of users and collect billions of dollars in revenue from user-generated content. But in the near future, decentralized social media or Web3 has the potential to end that old model by giving power back to users.

4. Dare to Find Ethereum Bugs Before The Merge? Get Prizes of IDR 14.8 Billion!

Calling all bug hunters! In the Ethereum bug bounty program, winners can get a fantastic amount of cash: Rp. 14.8 billion. The second largest crypto asset by market capitalization, Ethereum (ETH), through the Ethereum Foundation will provide a cash reward of US$1 million (approximately IDR 14.8 billion) to anyone who can find the bug before The Merge arrives.

This is one of the Ethereum Foundation’s efforts to improve network security. In addition, the ETH agency also increased the bounty for bug bounties ahead of Ethereum’s transition from a Proof-of-Work (PoW) to Proof-of-Stake (PoS) model. The cash bounty is four times more than the regular bounty for bugs with high potential for network security vulnerabilities.

5. Boosting Bitcoin & Crypto Adoption, BlackRock Finally Launches Bitcoin Spot Private Trust!

Investment manager BlackRock announced Thursday (11/8) that it is launching a private trust that offers exposure to spot Bitcoin for institutional clients based in the United States (US).

This Bitcoin private trust will be the first product from BlackRock to offer direct exposure to the Bitcoin price. BlackRock explained that they see Bitcoin as currently the main subject of interest from its corporate clients in the crypto asset sector.

That wraps up for Crypto This Week. We’ll see you at the next one!

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