Is DeFi for Real?

Is Defi For Real?

What Is DeFi And What Is It Used For? Decentralized Finance or DeFi has several use cases today, but the technological and regulatory frameworks needed to mainstream it are yet to evolve. DeFi is a novel way of approaching financial transactions that removes the need for custodial and third party agencies between any two users in a transaction. Traditional banks and financiers are no longer needed for financial dealings in DeFi, allowing it to offer more choices for secure transfers to a wider customer base. Users can choose from several dApps…

Digital Banking Becomes A Reality

Digital Banking Becomes A Reality

Kraken Financial is the first crypto currency exchange to get approval to provide digital banking services as Digital Banking Becomes A Reality. Tentatively called Kraken Financial, the new bank will be able to make conversions between digital and fiat currencies for customers without the intervention of a third party. Kraken exchange, which allows users to buy, sell, and trade digital currencies, has so far depended on external portals for conversions between fiat and crypto currencies. With the new charter, the exchange will now be able to help customers bring the…

High Ethereum Fees Push Tether to Its Eighth Blockchain, OMG Network

Tether has adopted Ethereum scaling solution OMG Network amid record demand for settlement space on the “world computer.” “The integration [between Tether and OMG Network] will result in a reduction of confirmation times delivering faster payments while fees will be reduced without compromising on-chain security,” Tether Inc. said in a blog Wednesday. OMG Network can handle thousands of transactions at a third of the cost of Ethereum as a Layer 2 solution for Ethereum that batches transactions before settlement, OMG Network CEO Vansa Chatikavanij said in a statement. Tether –…

Crypto VC Firm Assesses the ‘State of Blockchain Governance’

Everyone in crypto has been talking about decentralized finance (DeFi) since bankless lending started to boom in June. But, looked at another way, it’s really a governance boom. Into this environment has stepped Greenfield One, an early-stage venture capital firm that just published a comprehensive new resource on the topic of blockchain governance. Take, for example, COMP. DeFi has been hot ever since Compound started distributing its COMP governance token on June 15. COMP didn’t introduce new features to the product, it just gave users a means to voice how…

Figure Technologies Securitizes $150M of Home Equity Loans on Blockchain

Figure Technologies has completed a long-awaited $150 million securitization of a bundle of home equity lines of credit (HELOCs), billed as the first such transaction in which all aspects of the process were managed on a blockchain. In other words, everything from the origination of the loans to the issuance of the bonds to the collection of borrowers’ monthly payments is run on Provenance, Figure’s blockchain, according to the company. This distinguishes the transaction from most enterprise blockchain projects, which have either been demonstrations of the technology rather than live…

China Has Many Strategic Reasons To Invest in Blockchain

Byrne Hobart, a CoinDesk columnist, is an investor, consultant and writer in New York. His newsletter, The Diff (diff.substack.com) covers inflection points in finance and technology.  In October, China’s President Xi Jinping said China should “seize the opportunity” to use the blockchain. To cryptocurrency advocates, this is exciting – and confusing. Why would a deeply centralized country want to use an intrinsically decentralized technology? Why would a country that exercises tight control over its currency want to try a new, un-tested currency system? The paradoxical answer is that Xi Jinping…

Riot Blockchain Plans Sale of Crypto Exchange as It Invests More Millions in Bitcoin Mining

Nasdaq-listed Riot Blockchain plans to sell its cryptocurrency exchange RiotX while doubling down on its bitcoin mining businesses.  In an announcement on Thursday, the company said it is considering opportunities to divest itself of the limited assets associated with the exchange, launched in early 2018, due to the regulatory environment, security risks and competition from peers.  “In order to concentrate its focus on cryptocurrency mining, Riot has opted to sunset further development of Riot’s U.S.-based digital currency exchange,” the company said in a statement.  Riot has hired Chicago-based investment bank…

ChainUP Launches EXUP, An Independent Brand of Blockchain Financial Derivatives

ChainUP has launched EXUP a new financial derivatives technology platform for digital assets to empower the blockchain financial ecosystem. 14th February, 2020, Singapore – On February 11, ChainUP, a leading global blockchain technology service provider, officially launched EXUP, an independent brand of blockchain financial derivatives, creating a new financial derivatives technology platform for digital assets. EXUP is committed to providing customers with secure, stable and efficient blockchain financial derivatives services. Its highly stable and reliable matching engine has been created to [em]power the financial ecosystem on blockchain, through a distributed…

Catalonia Is Moving to Achieve Digital Independence Using Blockchain

The burgeoning autonomous community of Catalonia has been struggling for political freedom from Spain for years. Now, according to Jordi Puigneró, Minister of Digital Policies and Public Administration, the group is also angling for digital independence. “Just as the Internet brought us universal connectivity, blockchain will bring us new universal governance. It will affect the administration [of government], will affect the economy, and it will affect one thing which is very important in our society: trust,” he said. “Trust is what moves economic transactions and it’s what moves the relationship…

Southern Indian State to Launch Dedicated Blockchain Incubator

The Indian state of Telangana is to launch a dedicated blockchain incubator. According to a report in the Times of India on Monday, Rama Devi, a senior official in the IT&C Department of the state government, said the new incubator would soon team with top educational institutions, such as IIIT-Hyderabad and the Indian School of Business in order to support new startups in the working blockchain space. “We have developed 12 use-cases wherein Blockchain technology can be used to solve some of the issues faced by citizens… in the coming…