PayPal, the global payments giant, has announced that it will enter the crypto market. It will do so through its own stablecoin, PayPal USD based on Ethereum.
The PayPal USD will be pegged to the U.S. dollar and issued by Paxos Trust.
The token will soon be available in the U.S., and PayPal will lead the way as the first major financial company to issue its own stablecoin.
Users will be able to transfer and convert any PayPal-supported cryptocurrency to and from PayPal USD.
SOURCE: CoinDesk
READ ALSO ---> PayPal USD: how the PayPal stablecoin works
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Binance CEO Changpeng “CZ” Zao alerted his users on X about a new scam. It consists on a fake wallet addresses that are used to cheat users during transactions.
The "scam-plan" allows scammers to reproduce fake addresses but which have the same beginning and ending characters as the users' original address. As soon as the indirection is generated, the scammer sends dust transactions that will be reflected in the victim's transaction history. It happens that when the victim copies and pastes an address from one of the dust transactions, money will automatically be loaded into the scammer's wallet.
Below what CZ posted:
“I want to share this (luckily) unsuccessful, but very clever and close scam incident from yesterday. Saved $20m. Hope it may also save you one day. The scammers are so good now they generate addresses with the same starting and ending letters, which is what most people check for when doing a crypto transfer. In fact, many wallets hide the middle part of the address with to make the UI look better.
SOURCE: CoinTelegraph
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Web 4.0 is emerging as a true technological revolution, following the dynamic landscape of Web 3.0 and what happened with social media, AI, and AR. The European Commission envisions an unmatched convergence of immersive tech, IoT, blockchain, and AI.
In all these immersive experiences the physical and digital worlds seamlessly merge into one. So there will be two main action that EU have been planned. By the end of 2023, European Union will promote the guiding principles of virtual worlds proposed by the Citizens' Panel, and by the first quarter of 2024, it aims to distribute a "toolbox for citizens," defining guidelines for navigating virtual realms.
The first significant step in this direction is the "AI Act," a European legislative proposal that categorizes AI applications into three risk categories: Unacceptable risk, High risk, Not high risk The EU AI Act has the potential to become a global standard and is already making strides internationally. For example, in late September 2021, the Brazilian Congress approved a bill creating a legal framework for AI, awaiting approval from the country's Senate. European action could provide a significant boost to this effort.
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
WASHINGTON - US Senate on Jul 27th approved the National Defence Authorisation Act (NDAA). The NDAA is a bill that recognised a guide-line for help the country’s defence department for how to use federal funding.
The US Senate passed its version of an annual defense policy bill Thursday which authorizes $886 billion for national defense over the next fiscal year. The policy bill, known as the National Defense Authorization Act (NDAA), cleared the Senate floor in an 86-11 vote. The crucial bill helps set the Pentagon's policy agenda and authorizes how the Defense Department can use federal funding. On July 14, the Lummis-Gillibrand Responsible Financial Innovation Act (“RFIA”) was re-introduced into the Senate, after failing to get past committee last Congressional session. Senator Lummis tweeted an infographic describing what is new in this version of the legislation. The revised RFIA maintains much of the broad scope of the 2022 version but is updated to reflect developments since then, like the collapse of FTX.
The RFIA was introduced to avoid another disaster like FTX was.
SOURCES:
CoinTelegraph
www.aa.com.tr
www.natlawreview.com
READ ABOUT VITALIK BUTERIN ON THE WORLDCOIN…
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Vitalik Buterin- co-founder of Ethereum - on July 24th publicly expressed his opinion about Worldcoin’s decentralized human identity verification system. Worldcoin consists of a privacy-preserving digital identity (World ID) and a digital currency (WLD) and was co-founded by Sam Altman, who is best known for being the CEO of OpenAI.
Vitalik Buterin expressed his opinion in a long article in which he wrote that Worldcoin's new verification system is a good anti-spam and anti-concentration of power. In his opionion it will become increasingly difficult to distinguish between humans and machine. So if I good system can check whether if you're a robot or human, is certainly a positive goal.
Ethereum co-founder is more concerned about privacy and iris scanning. Buterin fears that this could glean much more information than initially appears, such as a person's gender, ethnicity, and even specific medical conditions.
“If proof of personhood is not solved, decentralized governance becomes much easier to capture by very wealthy actors, including hostile governments.” The Ethereum co-founder also highlights that systems like Worldcoin, if it continues to decentralize as promised, will avoid “dependence on centralized authorities and reveal the minimal information possible.
SOURCE: COINTELEGRAPH
READ ABOUT DESANTIS AGAINST CBDCS
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
A few days ago Microsoft stock price hit the record $359.49 per share and it was just after the presentation of Microsoft 365 Copilot, an AI-powered version of the software, that aims to harness productivity, unleash creativity, and change forever the workflow.
Thanks to an increase of almost 4%, shares of Microsoft recorded new highs in the stock market, bringing the company's market capitalization to 2, pushing the company's market capitalization to 2.67 trillion dollars.
Microsoft CEO Satya Nadella said the implementation of artificial intelligence would "fundamentally change the way we work and unlock a new wave of productivity growth."
Microsoft hasn't set a release date for the upcoming AI software, which will enter an ultra-competitive market made up of top-notch players like Google, Salesforce, and other big tech.
Microsoft 365 Copilot will be powered by artificial intelligence and is expected to be available for $30 a month to Microsoft 365 customers.
The Copilot subscription would thus add to the existing Microsoft 365 subscriptions, which cost between $12.50 and $36 per user per month. Tuesday's high of $366.30 per share surpassed the all-time high of June 15 and led to more than 6% growth over the past month.
On the one hand Copilot works alongside with people thanks to the integration into the Microsoft 365 apps that are used every day – Word, Excel, PowerPoint, Outlook, Teams and more – to unleash creativity, increase productivity and improve skills; on the other it has been integrated into a completely new experience: Business Chat. Business Chat works by combining the LLM, Microsoft 365 apps and data – from calendar, email, chats, documents, meetings and contacts – to do things people couldn't do before.
SOURCE: Forbes, Microsoft.com
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Ron DeSantis spoke up against central bank digital currencies, CBDCs. DeSantis, current Florida Governor and U.S. presidential candidate, said “If I will be the president, on day one, we will nix CBDCs.”
CBDCs are Central Bank Digital Currencies. These digital currencies are legal tender and guaranteed by the issuing central bank, therefore equipped with the same guarantees as the physical currency in circulation in the respective countries.
They can be defined as the digital version of fiat currency, which brings with it the conveniences of digital assets.
DeSantis - as governor -in March signed a document to prohibit the use of CBDC as money within Florida. Ron DeSantis Promises to Ban CBDCs if Elected President. It is to say that Democrats are still in silence about this subject.
DeSantis underlined that CBDCs would lead to a "massive transfer of power from consumers to a central authority".
SOURCE: CoinDesk
READ ABOUT DUBAI: STOP FOR BITOASIS…
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Australia Blockchain Week is an event that brings together blockchain enthusiasts, developers, investors, and industry experts. One the main focus was how the blockchain can boost marketing and moving your business into the Web3 space.
The Australian Securities Exchange, the home of Australia's financial markets, hosted the first day of the Blockchain Week in Australia. Binance Australia CEO, Ben Rose, underlined that the choice to held the first conference at ASX is definitely a positive sign for the industry, especially for Australians.
VIDEO CREDITS: Perthmedia
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
The Australian Blockchain Week began on June 26th and ended on Sunday July the 2nd. The ASX, Australian Securities Exchange, hosted the first day of the Blockchain Week in Australia. Binance Australia CEO, Ben Rose, underlined that the choice to held the first conference at ASX is definitely a positive sign for the industry, especially for Australians. The future of blockchain in Australia’s financial sector shows promise, as attention turns to the country’s big financial institutions explore ways to harness the tech to address increased adoption and curiousity of digital assets.
In perfect balance between old and new economy, there were many speeches about the future of blockchain for the worl wide market. One of the most enthusiastic speakers of the day was Immutable co-founder Robbie Ferguson, who spoke about the popularity of gaming around the world and the opportunity for Web3 gaming and digital asset ownership.
Sophie Gilder, Chief Executive Officer, Blockchain and Digital Assets at Commonwealth Bank, stressed that the importance of the cryptographic network is now clear and, although not yet openly implemented, it is becoming more and more relevant over the years.
Then there was also Trevor Power, of the Treasury Department, that the revolution of the payment system, as well as the revolution in the management of treasury assets, will pass precisely through the principles on which Blockchain Week was based.
Ryan McCall of Zerocap, on the other hand, stated that Australia is still moving slowly and countries like the United Arab Emirates and cities like Hong Kong risk overtaking the Down Unders very quickly.
Also Ben Morris of Circle was present at Blockchain Week and underlined how much everyone who owns a smartphone must have access to digital assets.
One of the main topic during the event was the future of payments, which sees Mastercard as the protagonist of the segment. A panel on the banking sector of the future, where NAB tried to explain the bank's need to approach Web3, has aroused a very important interest. Another important topic was the Cryptocurrency regulation, discussing payment system reforms.
Speakers including representatives from Crypto.com, BTC Markets, Kraken and Independent Reserve talked about the future of crypto exchanges and in the end some panel that discussed the integration of new technologies into payment systems has seen many participants, including those of Block Earner, Novatti and Ripple. This panels underline the efficiency of the innovative network in tackling the challenges of existing payment systems. In short, a lot was said at Blockchain Week, laying the foundations for the future of Web3, thanks also to incredible supporters such as the ASX.
Source: FORBES, TREND ONLINE
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Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
