Blockchain: from hype to construction 

29 January 2023


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Blockchain will pass from hype to construction: the new phase, according to the director of the department of Blockchain and Distributed Ledger (Politecnico, Milan), is coming. 

Now, years of work can be consolidated…

It is certainly helping the mutation of Ethereum. The transition from consensus based on proof-of-work to proof-of-stake removes the stigma of absolute environmental and energy non-sustainability from blockchains based on Ethereum itself.

Around the world, the blockchain technology is increasingly widespread.

Most of the projects concern the financial world. 

Why do we use blockchain?

This technology increases trust, security, transparency and permit the traceability of data shared across a business network. 

Blockchain technology maintain a record of its data history and nobody can corrupt it.

One of the most important characteristics of this technology is that it allows to eliminate intermediaries giving to users the possibility to create new opportunities of monetization. 

Amazon: towards a new game 

The giant would like to introduce to the market a new game NFT based on blockchain technology. 

The plan is still in evolution but the plan seems to be really taking shape. 

On Apr.22, Andy Jassy -Amazon CEO - declared in an interview that he expects a big growth on the NFT market. For that reason, Amazon could be introduce payments with cryptocurrencies in their systems. 

Details are not available now but Amazon’s entry on blockchain market will give a big boost to this sector. 

USA: blockchain innovation 

French Hill - the chair of the Financial Services Subcommittee on Digital Assets - wants to transform USA on the place for blockchain innovation. 

Hill wants to introduce some crypto regulations in the country. In a tweet he wrote: 

We want to make sure that America is the place for innovation in FinTech and blockchain and distributed ledger technology is part of that FinTech future.

Hill said that could be the possibility of a spot Bitcoin exchange-traded fund (ETF). 

The changes will be on the federal privacy law, a stable coin bill and the ramifications for the security market. 

Hill said in the end that crypto trading and exchanges would need to be overseen before introducing new regulation rules.

SOURCE: CoinTelegraph 


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