https://www.facebook.com/107142608690997/

Socia Media, Sydney (2024)

18/10/2022

📍 Data Shows US Economy Shrinks Amid Recession while Crypto Surges in Bearish Rally 📍

The NY Empire State Index, which shows the state of business conditions in New York, on Monday released a new data indicating a significant weakness in the US economy.

The data showed that manufacturing activity in the State of New York decreased in October for the third straight month. This is a sign of persisting headwinds for the manufacturing sector amid slowing demand, according to fresh data from the Federal Reserve Bank of New York released on Monday.

According to the state manufacturing survey, the general business conditions index decreased to minus 9.1 in October from minus 1.5 in September. In other words, - 9.1 shows that the general manufacturing business conditions in New York have become worse than the expected forecast of - 4.3.

While the positive index shows an improving business environment, negative data highlights worsening conditions in New York. Minus 9.1 shows that factory activity fell sharply compared to the previous month.

About 32% of firms surveyed stated that business conditions worsened in October, with demands for goods stalled during the month, according to the survey. Manufacturers in the region don't expect business conditions to improve over the next six months.

And what does this mean for cryptocurrency? The weakness in the US economy means that Bitcoin and other crypto assets are becoming more appealing as an alternative currency as holding the inflationary fiat currency (the US dollar) becomes detrimental to people’s purchasing power.

At the beginning of this week, the cryptocurrencies are generally witnessing a rally as the newly released New York State data confirmed the idea that the Federal Reserve has gone overboard with its restrictive monetary policy, which has slowed economic growth.

At the time of writing at 8:12 PM, EAT (East Africa Time) Monday night, Bitcoin was trading at $19,537.57, a 2.01 % up from 19,072.78 yesterday, while Ether is trading 1.5% higher at $1,322.71. Cardano (ADA) surged by 0.8%, trading at $0.3735, while Solana increased its price by 1.1%, trading at $30.81.

17/10/2022

South Korea to Provide Blockchain-based Digital Identities to Citizens by 2024

South Korea plans to provide digital identities encrypted by blockchain with smartphones to citizens in 2024 to facilitate its economic development., Bloomberg reported Monday.

The South Korean government stated that with the expansion of the digital economy, the ID embedded in the smartphone is an indispensable emerging technology to support the development of data.

Through digital identities on the blockchain, the network verification process will be simplified, and users can log in without taking a certificate or a verification code sent by text.

Widespread use based on digital IDs will be expected to increase government efficiency by saving more administrative workforce and time, reducing wage fraud, expanding consumer credit, facilitating trade, and generating new markets.

Alternatively, other applications of digital IDs include: facilitating online medical services; hotel check-in using a smartphone; prevention of ID forgery and theft; remote approval of contracts; fast boarding, etc.

McKinsey & Company believes introducing digital IDs could boost a country's gross domestic product (GDP) by as much as 13% and reduce business costs by trillions of dollars.

In addition, South Korea seeks to adopt the digital identity system for 45 million people within two years. Under the plan, the government will not be able to access information stored on individuals' mobile phones, including details on whose digital IDs are used and how and where they are used, as the system will rely entirely on blockchain technology-based decentralization identity.

11/10/2022

💥Ripple Builds New Partnerships in France and Sweden Despite Crypto Bear Market

Ripple inked deals with Paris-based payment provider for online marketplaces Lemonway and Swedish money transfer provider Xbaht.

👉Cryptocurrency payments company Ripple Labs has formed new partnerships in France and Sweden, continuing its march into Europe despite the current wintry freeze enveloping much of the crypto industry.

Ripple signed deals for its “On-Demand Liquidity” system with Lemonway, a Paris-based regulated payments provider for online marketplaces, and Swedish money transfer provider Xbaht, which is focused on remittance payments between Sweden and Thailand. RippleNet, the collection of banks and payment providers that have signed on to use Ripple's blockchain network for international payments, has clocked up payment volume of over $15 billion per annum, the company said in a press release.

While most crypto firms are struggling to stay afloat, Ripple appears to be in rude health, promising to add some 300-plus staff this year, a hiring goal on course to be achieved by year end, according to Ripple’s managing director for U.K. and Europe, Sendi Young. Ripple is also circling assets up for grabs in the current Celsius Network bankruptcy auction, which includes the custody platform GK8.

“It’s not pleasant to see other companies in a tough situation in this market environment, but we do find ourselves growing fast and also we are well funded,” said Young in an interview. “We are opportunistically looking at some strategic investment opportunities.”

Although it’s just one facet of the financial system, payments covers a lot of different areas such as cross border, domestic payments and retail, said Young. A specific use case might mean relying on a particular crypto solution, she added.

“I certainly believe in a future where a lot of cryptocurrencies will be commonly used, as well as some central bank digital currencies, probably some stablecoins and everything else in between,” Young said. “These different ways of carrying value will become interchangeable and there will be different use cases for all of these.”

11/10/2022

Crypto Exchange Huobi Global to be Acquired by About Capital

Crypto exchange Huobi Global, one of the biggest token trading outposts in the Asia markets, said late Friday that it has agreed to be purchased by Hong Kong-based investment company About Capital Management's M&A fund.

In a blog post, Huobi Global, a top-10 exchange by trading volume, said About will “control the majority stake” of Huobi once the deal closes and the ownership transfer will have no impact on trading operations.

The news comes after months of speculation and reports that founder Leon Li was seeking a buyer for his nearly 60% stake in Huobi, and was asking for at least $1 billion. The terms of the deal with About Capital were not disclosed.

Under new ownership, the exchange is plotting an international expansion and will receive an “injection of sufficient capital in margin and risk provision fund,” the blog post said.

In a statement, Li, who founded Huobi in China in 2013, said the exchange's late 2021 departure from the Chinese mainland kicked off a globalization push that will now accelerate under About Capital.

Huobi's native token HT rose sharply on the news.

10/10/2022

💫 Crypto Investment Firm Blockwater Technologies Defaults on DeFi Loan 💫

The South Korea-based crypto investment firm failed to make a payment on a $3.4 million loan to TrueFi, a decentralized lending protocol.

South Korean blockchain investment firm Blockwater Technologies defaulted on a loan from TrueFi, a decentralized lending protocol, TrueFi said in a statement Sunday.

According to the statement, TrueFi issued a “notice of default” to Blockwater on Oct. 6 after it failed payment on a $3.4 million loan in Binance USD (BUSD) stablecoin.

Blockwater’s default seems to be the latest example of the crypto industry’s insolvency crisis. This year’s dramatic downturn of crypto markets, exacerbated by the implosion of the Terra blockchain, has led to the bankruptcy of multiple high-profile crypto firms, such as hedge fund Three Arrows Capital (3AC), crypto lender Celsius Network, digital asset broker Voyager Digital and crypto-mining data center operator Compute North.

Blockwater’s default on its debt came after TrueFi and Blockwater restructured the loan and extended the payment period in August. Blockwater managed to repay $654,000 of its outstanding debt after the restructuring efforts, but eventually missed payment. The remaining debt amounts to almost $3 million.

TrueFi determined that “a potential court-supervised administrative proceeding would lead to a better outcome for stakeholders given the complexity around the sudden insolvency,” according to the lending protocol’s statement.

“While we always prefer to pursue an out-of-court solution with distressed borrowers, in some instances an administrative proceeding is the best option in preserving value for stakeholders,” Roshan Daria, head of lending at ArchBlock, which manages relationships between lenders and borrowers on the TrueFi protocol, told CoinDesk.

TrueFi remained in “active discussion” with Blockwater, and said that Blockwater’s insolvency does not affect the protocol’s other lending pools, per the statement.

08/10/2022

💫 TOKEN2049 Singapore: What's at Crypto Conference in the midst of a downtrend? 💫

The first day of the Token 2049 Cryptocurrency Conference 2022 began on September 28 in Singapore, attracting the attention of the digital asset "enthusiast" community. This conference took place amid a prolonged “crypto winter”, stemming from the severe decline of coins, before the collapse of stablecoin project Terra - Luna in May, combined with widespread turmoil in the global economy.

Token 2049 is the premier crypto event, held annually in Singapore and London, where the founders and executives of top Web3 companies share their views on the market. The opening session of the conference was titled: “Global Macro Instability: Crypto Stories”. The thousands of people attending the event seemed to show no sign of worrying about the gloom that has engulfed the crypto space all this time.

As can be seen, Token 2049 - the main event of Asia's largest Crypto Week stands out with an optimistic, forward-looking approach, with discussion sessions covering issues such as: cryptocurrency prices tumbled; The rise of stablecoins; How the crypto industry can drive mass adoption; and Opportunity brought by “crypto winter”.

At the conference, Zaheer Ebtikar, a portfolio manager at digital asset quantification firm LedgerPrime, told attendees that risk and return are being mispriced. “Anytime there can be negative news streams like in the last 9 months and it's hard to end that negative streak. For example, the war between Russia - Ukraine, the energy crisis, or Europe preparing to face a cold winter,...

07/10/2022

🇪🇺 EU bans crypto services to Russians 🇷🇺

On October 6, the EU launched the 8th package of sanctions against Russia, aimed at imposing a ceiling on oil prices as well as preventing Moscow from improving military technology, estimated to deprive Moscow of billions of euros in revenue and expand The scope applies to all four territories that Ukraine has just annexed to Russia.

In addition to the new sanctions, the EU has also imposed a sweeping ban on the provision of crypto services to Russians as part of the 8th round of sanctions. restrictions were put in place in April.

“Current bans on crypto assets have been tightened by banning all crypto asset wallets, accounts, or custody services, regardless of the amount in the wallet,” the statement read. published on the website of the European Commission.

Prior to that, the April limit order still allowed services for Russian wallets worth less than 10,000 EUR.

Cryptocurrency service operators headquartered in the EU may have to stop processing transactions with Russians, unless the customers are residents of the bloc, according to Forbes Russia.

The eighth package of sanctions will also expand the number of services not provided to Russians or the Russian government, including information technology consulting, legal advice, architecture and technical services. The commission said Russia is "highly dependent on the import of these services".

The additional restriction comes a day after the EU finalized some of its key rules on crypto regulation. One of the laws passed included a requirement that wallet providers verify the identities of those using their services.

It is known that after Visa and Mastercard left the Russian market earlier this year and several banks were disconnected from SWIFT, cryptocurrencies, especially stablecoin USDT, became one of the most popular ways for people to Russia transfers money abroad, although there are still some restrictions on user privacy.

Therefore, after the implementation of sanctions in February, American and European leaders immediately turned their attention to cryptocurrencies, fearing that the growing industry could help Russia overcome trade restrictions.

However, cryptocurrencies like Bitcoin are exchange-traded and unlicensed, making it significantly more difficult for Western authorities to prevent commerce through the Internet.

This also allows foreign criminal organizations to leverage the technology in both ransomware schemes and even the financing of nuclear weapons.

05/10/2022

NFTs and Metaverse

As you may already know, NFTs have been a huge hit among tech and art enthusiasts alike in early 2020. Digital art is starting to become the inexplicable and indestructible NFT. with record high prices in cryptocurrencies.

Then another phenomenon made headlines: the rise in popularity of metaverses. Amid prolonged social isolation fueled by the global pandemic, people have turned to metaverses to socialize and interact with current events. During this time, people - especially tech junkies and real estate enthusiasts - seek solace by investing and entering this virtual world with digital real estate cryptocurrency. digital.

Adding impetus was the announcement of Facebook's new Meta platform. Meta is considered the virtual reality version of the popular social media platform. Users will be able to create avatars and interact with the world around them, but the only difference from the real world is that this virtual world lives online.

Big companies and brands have been ahead of the game by opening stores and selling merchandise - from clothing to avatars to virtual homes and artwork - in this virtual world.

05/10/2022

🔔 How did the crypto trend for real estate begin?

While NFTs (non-fungible funds) and cryptocurrencies have only grown in popularity in recent years, the move towards blockchain-based technology has increased over the past 15 years.

⏳ At the end of 2008, Bitcoin was launched into the world and like a chain reaction, many organizations and individuals have been developing ways to complete transactions using blockchain transactions. And with it comes a whole new financial system: decentralized finance (DeFi) programming.

🔭 Cryptocurrency developers and other enthusiasts recognize the need for an open, always accessible financial system, separate from traditional banking institutions to process cryptocurrency transactions. . These developers used smart contracts and blockchain to form a decentralized financial system and DeFi was born.

🔭 DeFi services provide a way for cryptocurrency transactions to be monitored and facilitated. Instead of people managing transactions, DeFi uses a set of programmed rules called smart contracts to manage a transaction.

05/10/2022

💫 Different between bitcoin, cryptocurrency and blockchain 💫

💥 Bitcoins, cryptocurrency and blockchain - how are different and how are they related

First, bitcoin is a cryptocurrency, a digital currency used to facilitate transactions. Each cryptocurrency has its own set of codes. Similar to casino chips, you will need to exchange real money (like USD) for cryptocurrency to buy goods and services from a company. Currently, there are more than 6,700 different cryptocurrencies. Bitcoin is just one of them.

💫 Blockchains make cryptocurrency possible.

Data stored on the blockchain for a particular cryptocurrency does three things:

1. Verify its value
2. Manage and record transactions
3. Facilitating the conversion of value (e.g. USD to bitcoin rate)

Advanced security is one of the biggest attractions of blockchain and cryptocurrency. Buying and selling a good or service with cryptocurrency eliminates the need for central banks, making it a more direct payment system. Read on to learn about how all of this relates to real estate.

Turning real-life assets – such as bonds, artwork, and real estate – into secure and encrypted digital assets is cryptography. Like cryptocurrencies and ownership registers, tokens contain ownership, rules, and transaction history. After encryption, the asset is divided into several parts. So many people can own parts of the token.

04/10/2022

Market trends: 3 things to expect in the real estate & housing market

Fluctuating interest rates, home prices and inventories continue to rise dramatically in high-demand areas, creating confusion for both buyers and sellers. What do we expect?

Here's what to expect:

1. Mortgage rates will continue to rise

As inflation has increased, the average interest rate on a 30-year mortgage has exceeded levels not seen since the 2008 financial crisis, according to Bankrate.com, the current average is just over 6, 4% compared to 3% last year.

2. Housing inventory is increasing

The time to sell real estate on the market has increased and more properties are available, especially at higher price points. Marketwatch has estimated there are more than 20,000 homes for sale to buyers making $200,000 a year.

3. Housing prices may cool down, but not down

Demand for housing remains high even as interest rates rise. While sales will slow, prices are not expected to fall significantly - although activity varies by market and price timing.

Zillow expects prices to continue to rise 9.7% through May 2023, Capital Economics sees home price growth falling 5% by mid-2023, with annual price growth of 3% by year-end 2024.

03/10/2022

💥 5 Blockchain applications in the real estate sector 💥

1. Platforms and Markets

The real estate market is a story connecting buyers and sellers. However, this is quite difficult in the traditional form. The application of Blockchain makes this easier and more convenient. A real asset can be tokenized and traded on online exchanges just like a stock. Thereby, creating the initiative in the transaction.

From taking virtual tours and signing leases with smart contracts to sending rent payments or performing maintenance requests, tenants will enjoy a good rental experience than with blockchain. Blockchain technology helps secure these features, so all parties involved are in the know about asset listings, verified identities, and encrypted private information.

With Blockchain, it has never been so easy to move across countries, even around the world, to buy and invest in real estate. You can rent a property anywhere in the world and negotiate transactions from Country without stepping foot outside, as blockchain is gradually removing geographical barriers between countries and preventing privacy and data breaches.

2. Minimize intermediaries

As mentioned above, one of the major sources of costs in real estate transactions comes from the appearance of brokers, lawyers, and banks. Besides, having to go through too many intermediate stages also makes the time to be prolonged. Through online platforms, Blockchain technology will contribute to offloading the above components – which have long been considered an integral part of the real estate ecosystem.

3. Increase liquidity and ownership by segment

The high value along with the long transaction time makes real estate have long been considered an illiquid asset. However, this will basically be completely solved with the application of Blockchain technology. Assets are "divided", easy to buy and sell. The seller would then not need to wait for the buyer to be able to afford the entire property to get some value out of their property. Owners of real estate with Blockchain technology can also arbitrarily sell part of their property during the ownership process.

4. Transparency

Looking back at the times of "real estate bubble burst" in the past, it can be seen how the lack of clarity of a part has brought about serious consequences. With Blockchain, information (architecture documents, technical plans, equipment manuals, etc.) can be publicly accessible from everyone, creating transparency, thereby building trust. information in the system. Fraud problems are also minimized through digital contracts.

5. Reduce costs

The transparency associated with the decentralized network when applying Blockchain technology in the real estate sector can contribute to reducing many costs related to real estate transactions. In addition to the savings in middleman commission costs, there are other costs such as inspection costs, registration costs, borrowing costs, and taxes associated with real estate transactions. Once part of the automation system, the above intermediate stages can be reduced or eliminated.

Global real estate is worth hundreds of trillions of dollars, but is dominated by the rich and large corporations. Through Blockchain technology, more people will be able to access the market where transactions can be made more transparent, secure and fair. Certainly, with what is and continues to develop, Blockchain will really revolutionize every aspect of the real estate industry in the not too distant future.

02/10/2022

Blockchain application in real estate shaping

Blockchain is understood as a database system that is securely encrypted with blocks that are linked together and expand over time. Each block contains information about the initialization time and is associated with previous blocks. Information in the blockchain cannot be changed and is only added when there is consensus of all nodes in the system. And even if part of the system fails, the computers and the rest of the system continue to work to protect the information.

Around the world, Blockchain is interested by its ability to allow the transfer of ownership of property almost instantly in a secure way and it is believed that blockchain will revolutionize land transfers.

In early 2018, the UK's HM land registry, one of the world's oldest land registries, announced plans to create a virtual "digital roadway" for testing land use rights. new technology. And blockchain-powered transitions are being tested increasingly around the world. In Ukraine, the government hopes to attract foreign investors through the replacement of paper processes with blockchain.

If it is possible to consolidate direct real estate assets or real estate-derived income streams are decoupled thanks to blockchain technology, the bottlenecks of real estate investment will be reduced, the barrier between assets Real and synthetic derivatives began to break down, investing was liquid, transparent, and making transactions happen instantly.

Blockchain technology enables the development of primary and secondary real estate trading platforms that help bring new viability by creating more liquidity and easy access for sponsors and issuers. From there, the secondary market will reshape the network of real estate investors, interbank brokers and registered investment agents into the trading market.

Another attraction that the blockchain platform brings is its use to store land information, greatly reducing the cumbersome process of recording and updating land status, ensuring transparency. overview. And more and more governments are looking to adopt secure ledgers as a way to store and easily access state history records.

01/10/2022

💪 5 BENEFITS WHEN TOKENING REAL ESTATE

In a period of continuous strong technology development, the NFTs market is forming a trend because it is applied to tokenize many real assets.

1. Increase liquidity: Through real estate tokenization, investors can participate easily, assets are divided, thus increasing real estate liquidity

2. Access to many customer groups: Real estate investment is often considered a game for the rich and the elite. However, with real estate tokenization anyone with enough capital and an internet connection can sell, buy or hold real estate assets from anywhere in the world.

3. Transactions are transparent and less expensive: Every data is programmed into a secure, digital token. Therefore, there is complete transparency between the investor and the seller.

4. Immutable Proof of Ownership: NFTs is a non-fungible, non-replicable token. Each real estate NFTs is identified by a wallet address. NFTs will protect copyright and help investors better manage assets.

5. Asset management: Blockchain-based smart contracts or tokens can streamline this process. Through smart contracts, buyers and sellers set out agreements and automate the ex*****on process.

29/09/2022

Blockchain Applications in Real Estate

What do you think of a world where real estate ownership can be verified instantly and with certainty. In an era where technology & digital are gradually replacing traditional models, the role of Real estate brokerage agents will basically be greatly reduced. The time it takes to verify title will be eliminated and most importantly, the costs associated with claiming land through insurance will be significantly reduced.

Technologists are also using blockchain to try to replace the more complicated home mortgage approval process than is necessary today, so that the process can be as minimal as possible.

Blockchain application in real estate is not dependent on any intermediary.

New Blockchain technology will help people who need to sell, who need to buy, who need to rent or renters to contact directly without going through a third party, thereby reducing costs for both sellers and buyers.

28/09/2022

China accounts for 84% of blockchain applications worldwide

Despite the strict cryptocurrency bans, China remains the country with the most blockchain patent applications worldwide.

A government official said that China is the country with the most blockchain patent applications worldwide, accounting for 84% of the total number of applications, despite the state's continuous restrictions on the field.

Wang Jianwei, deputy director of the information technology development office of the Ministry of Industry and Information Technology, revealed the figure on Tuesday. He added that blockchain helps “speed up integration with the economy, services for people’s livelihoods, smart cities, and administrative services.”

“Many blockchain patents apply not only to blockchain but also to traditional internet technologies, such as electricity,” said Gao Chengshi, a cryptography expert who is a founding partner of blockchain developer Shanghai Hashvalue Information Technology. cryptography and security.”

Blockchain is the decentralized ledger technology best known as the foundation of cryptocurrencies, starting with Bitcoin in 2009. Its open source nature and no central authority have made it blockchain becomes attractive for many applications around the world. In China, however, this type of "blockchain" is restricted, requiring it to be registered with the country's Cyberspace Administration. China places high hopes on “licensed blockchains or blockchains that limit the number of people who can change the ledger.”

In 2019, President Xi Jinping said blockchain would play “an important role in the next era of technological innovation and industrial transformation.”

It is known that China has an inexplicable relationship to blockchain. The country bans cryptocurrencies, banning citizens from legally participating in offshore blockchains like Bitcoin and Ethereum. This could lead to China's blockchain industry separating from the international community amid the rapid development of Web3 technology, the next-generation version of the World Wide Web that is decentralized through technology. blockchain.

23/09/2022

🔥 INTRODUCTION TECHNICAL PARTNER EVENT ETH VIETNAM 2022 🤝 Quickom.com 📹

📢 ETHVietnam announces cooperation with Quickom as Technical Partner for this year's event!

🔥 QUICKOM by Beowulf Blockchain is a US patented decentralized telecommunications toolkit for large-scale conferences and classes.

Built on the world's most flexible decentralized cloud communications platform, QUICKOM extends the best of video communications beyond the traditional boundaries of dedicated conference rooms and into the mainstream world. system.

The platform offers a suite of services that include corporate and call center communications solutions, as well as personal communications with a focus on protecting privacy to enable more effective workplace collaboration. work, at home and on the road.

👉Learn more about the QUICKOM platform now by visiting: https://quickom.com

30/07/2022

⛔Ransomware Attacks Are Falling, But a Different Crypto Crime is Surging⛔

♻️Ransomware attacks fell substantially in the first half of 2022 — but according to a new report, cybercriminals are now turning their attention to other strategies.

♻️The cybersecurity firm SonicWall says incidents of cryptojacking have surged by 30%, and experts believe this is a sign that some ransomware operators "are ready for a quieter life."

♻️Cryptojacking attacks involve infecting a victim's computer with malware that's designed to mine cryptocurrencies — and more often than not, it's deployed through web browsers.

♻️Governments, healthcare providers and educational institutions have been the industries most affected by cryptojacking in the past, but cybercriminals now appear to be targeting other sectors. Attacks on the retail industry have surged by 63% so far this year, with incidents in the financial sector up 269%.

⛔Explaining why cryptojacking is on the rise, SonicWall explained:

"Changing careers is tough, and this goes for cybercriminals, too. When the price of a coin drops like a rock, it’s still easier to hustle harder than it is to find a new line of work."

♻️The report also notes that awareness about ransomware attacks has risen substantially — with the high-profile incidents affecting the U.S. Colonial Pipeline and Kaseya resulting in government busts:

"Unlike ransomware, which announces its presence and relies heavily on communication with victims, cryptojacking can succeed without the victim ever being aware of it. And for some cybercriminals feeling the heat, the lower risk is worth sacrificing a potentially higher payday."