Blockchain and digitization to take center stage at Davos

The annual meeting of the World Economic Forum (WEF) is scheduled to take place from May 22–26,  marking the first in-person WEF global leadership event since the pandemic began. The annual meeting was first scheduled for January but was later turned into a virtual event in light of growing COVID-19 infections during the winter. The Davos Agenda 2022 virtual event took place from January 17–21, 2022, which saw major world leaders appeal for cooperation in tackling major global socioeconomic issues. Discussions during the virtual event revolved around global economic recovery,…

Indian government’s ‘blockchain not crypto’ stance highlights lack of understanding

Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions. While many developed countries and even several of its Asian counterparts are actively studying and formulating better crypto regulations, the Indian government has maintained a “blockchain, not crypto” stance. It might seem like the government is taking a cautionary step to focus on the underlying technology while keeping its distance from the volatile and risky crypto market. However, going by the…

FTX CEO sees no future in Bitcoin payments, community fires back

Sam Bankman-Fried, the founder of crypto exchange FTX, has criticized the efficiency of Bitcoin (BTC) as a payment network, only to meet heavy backlash from the crypto community. During an interview with the Financial Times, Bankman-Fried fueled environmental concerns associated with the Bitcoin network’s mining consensus, proof-of-work (PoW), and claimed it’s not scalable enough to accommodate millions of transactions. He advocated for the use of proof-of-stake mining consensus instead and claimed it is better suited for blockchain payment networks. He said: “Things that you’re doing millions of transactions a second…

Solana developers share 3 key mitigation steps to make the network robust

TheSolana network faced its seventh outage on April 30, resulting in a downtime of over seven hours. The developer team has come out with an outage report along with three key mitigation steps to make the network more stable. The network outage on Solana was caused by a significant surge in the number of transactions due to nonfungible token (NFT) minting bots. The bots used Candy Machine, a popular application used by Solana NFT projects to launch collections. The transaction volume reached 6 million per second, overflowing individual nodes with…

Samson Mow’s DeFi question, Fireblocks expands to institutional and more

The week was filled with several new project developments and key updates from leading decentralized applications (DApps) and decentralized finance (DeFi) protocols. Fireblocks has expanded its institutional access to Terra’s DeFi ecosystem and Solana partnered with the Notifi network to improve the abysmal participation rates in governance votes. We will also look into the Cointelegraph research into the Terra ecosystem’s future and see if it can sustain the current growth. Samson Mow, the former executive at Blockstream, questions the decentralized aspect of the DeFi ecosystem. Top DeFi tokens saw another…

Blockchain and crypto can be a boon for tracking financial crimes

Governments around the globe have also become more aware of the crypto market and the various ways in which it can be regulated.  Despite a growing adoption rate and involvement of mainstream financial giants, however, naysayers continue to portray crypto as a tool for miscreants and criminals. Several crypto platforms and decentralized finance (DeFi) protocols have been compromised over the years, owing to various code vulnerabilities or centralization problems. However, stealing of money is the easiest part, while moving that money and cashing it out is nearly impossible. This is…

Fidelity to reportedly allow 401(k) retirement savings accounts to invest in Bitcoin

The United States-based retirement plan provider Fidelity Investments will reportedly allow 401(k) retirement saving account holders to directly invest in Bitcoin (BTC). The new Bitcoin retirement investment plan would go live later this year. It will allow over 23,000 companies associated with Fidelity to administrate their retirement accounts to offer Bitcoin investment options to the customers, reported WSJ. If the proposal to allocate BTC to their savings account gets approval from employers, it would allow retirement savers to allocate up to 20% of their portfolio in Bitcoin. Fidelity is currently in discussions…

Github suspends accounts of Russian developers linked to sanctioned firms

Major developer platform Github has reportedly blocked more than a dozen accounts of Russian developer’s associated with organizations sanctioned by the United States government.  The sanctioned accounts include some of the largest banks in Russia: Sberbank and Alfa-Bank, as well as individual developers with links to the sanctioned firms. However, many individual accounts with no links or ties to sanctioned firms were also blocked in the process, Researcher Sergey Bobrov, who reportedly has no links to any such firm, reported that his account was suspended on April 15 and then immediately…

Latest updates from the Cointelegraph team on the ground

Disclaimer: This article is updated all day long. All time codes are in the UTC time zone, updates in reverse order (the latest update is placed at the top). Paris Blockchain Week Summit (PBWS) hosts multiple thought leaders from the crypto and blockchain universe on its second day, and the Cointelegraph ground team is at the venue to deliver the most recent developments from the event. Paris NFT Day, the prequel event to the PBWS, saw the announcement of Cointelegraph France. On Wednesday, the Cointelegraph team delivered the important tidbits from…

Netflix‘s crypto swindler documentary draws wild community reaction

Netflix’s new crypto documentary titled Trust No One: The Hunt for the Crypto King was released on Wednesday amid much fanfare. The documentary is based on the mysterious death of the now-defunct crypto exchange QuadrigaCX founder. The founder of the crypto exchange allegedly died on a trip to India. Along with him, he took away the whereabouts of the keys to crypto wallets containing around $250 million worth of cryptocurrencies. Unofficial investigations and numerous conspiracy theories followed the mysterious disappearance/death of the QuadrigaCX founder. The Netflix investigative documentary aims to…