Tech worknews

14/10/2021

08/10/2021

04/10/2021

Jerome Powell: the release of the digital dollar should be a joint decision of the Fed and the US Congress

US Federal Reserve Chairman Jerome Powell called on Congressmen to join the project to create a digital currency of the Central Bank and develop an appropriate regulatory framework. US Federal Reserve Chairman Jerome Powell said last week that the Fed is conducting independent research on whether to launch the digital dollar and will soon publish its opinion on the matter. He added that there is no need to rush to make this decision - the United States, like other countries, is moving forward at its own pace. Yesterday, September 28, during a speech at a meeting of the Banking Committee in the US Senate, Powell drew the attention of Congressmen that although US legislation allows the Fed to single-handedly develop the foundations for creating a digital dollar, it would be right to involve Congress to work together. Commenting on his proposal, the Fed chairman noted that "this is such a fundamental issue that its solution should be the result of extensive consultations and, ultimately, be legally sanctioned by Congress." Earlier this year, it became known that the Fed's division in Boston and the Massachusetts Institute of Technology (MIT) have begun developing a prototype of the state cryptocurrency. The team will present multiple platforms capable of moving, storing and calculating government digital currency transactions.

04/10/2021

Dolce & Gabbana raised $ 5.6 million from the sale of NFT

Italian fashion brand Dolce & Gabbana has successfully completed its first ever Collezione Genesi NFT collection auction at UNXD.
Dolce & Gabbana has been steadily expanding its product line and international presence since the 90s. The company exports its products to the United States and Japan, where it has gained public recognition.
In 2021, Domenico Dolce and Stefano Gabbana presented their debut Collezione Genesi NFT collection at the Venice show. An exclusive handmade collection was developed by designers especially for the UNXD trading platform. It included both digital and physical items Alta Moda for women, Alta Sartoria for men and Alta Gioielleria jewelry.

When it was announced before the collection show that the designers were planning to auction digital copies of their work, it was perceived as an eccentricity of eminent masters, which has no commercial component.

However, the skeptics were wrong. Collezione Genesi NFT lot titled Glass Suit was sold at auction for 351.4 ETH (over $ 1 million). Two digital versions of the "dream dress" - gold and silver - were also purchased for 167 ETH each (approximately $ 500,000).

In total, the fashion house raised 1,885 ETH ($ 5.65 million) from the sale of the Collezione Genesi NFT collection, consisting of nine unique collectibles. Digital lots have been supplemented with "experimental" bonuses. Thus, NFT owners will receive a suit tailored to their measurements, access to Dolce & Gabbana couture shows throughout the year, and will also be able to visit an atelier in Milan.

Dolce & Gabbana is not the first brand to focus on the digital transformation of the world of high fashion. Earlier, the intention to release a series of collectible NFTs was announced by the Gucci brand, and the British fashion, accessories and perfumery manufacturer Burberry has released its first collection of non-fungible tokens in partnership with Mythical Games.

30/09/2021

Algorand launches AVM virtual machine to empower smart contracts

The Algorand project introduced the AVM virtual machine to increase the scalability of decentralized applications and instant transactions. As reported by the Algorand developers, the Algorand Virtual Machine (AVM) is a layer-1 protocol update mechanism. In addition to improving scalability and transaction speed, AVM will "support the development of green, zero-carbon blockchains." Developers will also present tools for writing smart contracts in Python or Reach programming languages. Algorand Product Development Lead Paul Riegle said the AVM virtual machine enables the development of sophisticated smart contract-based applications for DeFi, trading and non-fungible token (NFT) platforms, and Web3-based products. Owen Colegrove, an employee of the decentralized banking platform Algofi, also commented on the launch of AVM. “Along with the high performance of Algorand, AVM will bring scalability to a whole new level. The virtual machine will allow us to quickly iterate, optimize and improve our services, including lending protocol and decentralized finance services, ”Colegrove said. Despite the volatility of the cryptocurrency market, September was quite a good month for the ALGO cryptocurrency - on September 13, it reached a two-year high, exceeding $ 2.55. Today ALGO is trading at $ 1.58, and the market capitalization of the coin is $ 9.4 billion. Recall that the Algorand Foundation recently launched the Viridis Fund for 150 million ALGOs to develop NFT platforms, decentralized exchanges and DeFi projects based on the Algorand blockchain.

30/09/2021

30/09/2021