Blockchain-based supply chain platform canned by IBM and Maersk

United States technology company IBM and Danish logistics firm Maersk have decided to discontinue their co-developed blockchain-backed supply chain platform, TradeLens, citing a lack of “global industry collaboration” as a key reason behind the decision. Maersk stated on Nov. 29 that it has begun taking immediate action to cease operations on the platform which should take full effect by Q1 2023: “The TradeLens team is taking action to withdraw the offerings and discontinue the platform […] During this process all parties involved will ensure that customers are attended to without…

$16K Bitcoin dropping to $12K–$14K — Can this really happen? Watch The Market Report

On this week’s The Market Report show, Cointelegraph’s resident experts discuss the possibility of a $12,000–$14,000 Bitcoin (BTC) price and what that would mean for the rest of the crypto space. We start off this week’s show with the latest news in the markets: New BTC miner capitulation? 5 things to know in Bitcoin this week Bitcoin prepares to exit a grim November just above $16,000 — what could be on the menu for BTC’s price this week? We discuss the protests in China, the possibility of Bitcoin miners being…

Terra Supporters Hope to ‘Defy the Odds’ by Pumping the Now-Defunct Stablecoin USTC Back to $1 Parity – Altcoins Bitcoin News

It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe there’s a chance USTC can regain its peg. Terra Supporters Want to Repeg the Once-Stable Coin USTC Amid the craziness surrounding the FTX collapse, fans of another stunted crypto project want to get Terra Money’s former stablecoin UST (now USTC) back to…

Privacy Isn’t Just an Edge Case for Crypto

Anyway, it wasn’t actually the KYC thing that got me all riled up, and in hindsight I wish I’d not used the example of it being an obstacle to financial inclusion. A quick scan of the room told me the audience was made up of dudes in swanky suits, likely more concerned with taking their investment portfolios to the moon than solving the struggles of the unbanked. As such, my decision to refer to an edge case to prove a point about KYC’s failings served only to underscore that the…

Dogecoin jumps after Elon Musk shares glimpse into Twitter 2.0 plans

Billionaire entrepreneur Elon Musk has confirmed that he intends on integrating payments into what he describes as Twitter 2.0 — “The Everything App” —  fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE). The new Twitter CEO revealed his plans in a Nov. 27 tweet to his 119.2 million followers, in which he shared several slides from a recent “Twitter company talk.” Slides from my Twitter company talk pic.twitter.com/8LLXrwylta — Elon Musk (@elonmusk) November 27, 2022 While Musk made no mention of DOGE in the tweet or in…

It’s time for crypto fans to stop supporting cults of personality

Many of the centralized cryptocurrency platforms that collapsed this year had something in common: a young, outspoken and cocky leader. Each gained outsized influence not by virtue of outsized intellect or talent but because of their piles of money and large Twitter followings. And each time, misplaced trust in their abilities resulted in disastrous consequences.  If crypto wants to avoid similar catastrophes in the future, it’s time for us to rearrange our leadership priorities. We need to ditch the cults of personality. The theater of crypto on Twitter Before FTX…

New York’s mayor seeks balance with regulators after PoW mining moratorium

New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs related to crypto mining, according to reports on Nov 25.  The comments follow the new law signed by New York governor Kathy Hochul, banning proof-of-work (PoW) mining activities for two years in the state. The mayor, known as a crypto proponent, said in June he would ask the governor to veto the bill. With the bill signed into law, the…

Programming languages prevent mainstream DeFi

Decentralized finance (DeFi) is growing fast. Total value locked, a measure of money managed by DeFi protocols, has grown from $10 billion to a little more than $40 billion over the last two years after peaking at $180 billion. Total value locked in DeFi as of Nov. 2022. Source: DefiLlama The elephant in the room? More than $10 billion was lost to hacks and exploits in 2021 alone. Feeding that elephant: Today’s smart contract programming languages fail to provide adequate features to create and manage assets — also known as…