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Sheldon Dearr with Jonny Fry and James Tylee from Team Blockchain. Blockchains and other financial technologies live in misunderstood polarity. They need each other, they depend on similar money-transmitter laws, but they're culturally at odds. Will differences shrink or grow over time, and why?
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: Will digital currencies wax and wane as ISO 20022 is adopted? - the introduction of ISO 20022 in March 2023 will be a huge upgrade for the way in which financial institutions will be able to exchange information about payments. ISO 20022 will allow much more structured data to be shared - upgrading SWIFT’s forty year old messaging system and potentially giving fiat currencies the ability to compete with CBDCs and other digital currencies. Alternatively, will ISO 20022 enable cryptocurrencies, fintech companies and potentially TradFi firms to create their own ISO-compliant digital currencies and provide a range of new value-added services to rival the incumbent banks and payment providers? Full Article Here Blockchains cut the cost of international trade - with the multiple advantages of digitising trade documents already clear, several countries and industries are adopting digital solutions in their ports. In the UK, the Electronic Trade Documents Bill was introduced this year, designed to put digital trade documents on the same legal footing as paper-based copies. Full Article Here DAOs in the financial services sector - the financial industry has long suffered at the hands of the traditional banking system, which produces a variety of disadvantages for customers. A decentralised autonomous organisation (DAO) is a blockchain-based organisation that functions independently of any central leadership or boards of directors. In contrast to decentralised finance (DeFi), which uses blockchains to replace trusted third parties in banking, lending, investing and other financial transactions, DAOs transfer some, or all, decision-making power in a highly transparent manner whereby laying out the rules for all to see and codifying decision-making by using technology such as smart contracts. Full Article Here As two neo-money industries are revving up: can fintech and blockchain co-exist? - blockchains and other financial technologies live in misunderstood polarity. They need each other, they depend on similar money-transmitter laws, but they're culturally at odds. Will differences shrink or grow over time, and why? Full Article Here
Decentralised autonomous organisations (DAOs) provide a novel way of governing by using smart contracts that automate voting in a trustless and transparent way. However, in many DAOs the voting power is overly concentrated to just a few members. We examine the reasons and consequences of concentration, together with the governance trade-offs that DAOs face. Full Article Here
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: Could the greenback from Uncle Sam be replaced by a ‘green-backed’ digital currency? - for over 100 years the US$ has been the world’s reserve currency. Whilst its demise has been heralded many times, as with all things at some time it will be replaced. But, by what? Will Brazil, Russia, India, China and South Africa (BRICS) create their own digital unit of exchange or, arguably, could we see the most pressing issue of our time - climate change - usher in a ‘green-backed’ digital currency? Full Article Here What exactly is Web 3.0? - open protocols developed the internet and undoubtedly its evolution has been remarkable. Web 1.0 paved the way for many of the internet's essential assets and platforms, the second generation of the web, branded Web 2.0, witnessed the growth of centralised systems allowed by closed protocols and the decentralised web, or Web 3.0, is a hot topic. One of the most significant components of Web 3.0 is the importance of the best use cases. Full Article Here CBDCs: the good, the bad and the ugly - central bank digital currencies have a tendency to polarise people, in that some are supportive of this new form of digital currency whilst others are outright hostile. There are grave concerns that a CBDC is a charter to undermine personal privacy, since those who run and control CBDCs could have the power to monitor who is spending what, where and with whom. The promise of a tool to help counter the shadow economy and reach out to the unbanked does indeed hold attractions - but at what cost? Full Article Here DAOs and the centralisation of voting power - decentralised autonomous organisations (DAOs) provide a novel way of governing by using smart contracts that automate voting in a trustless and transparent way. However, in many DAOs the voting power is overly concentrated to just a few members. We examine the reasons and consequences of concentration, together with the governance trade-offs that DAOs face. Full Article Here Non-fungible Tokens Course Offer: Having been continually asked for our thoughts on NFTs, we have decided to create a series of short videos and roll them into a course so as to help people have a better understanding about these tokens Click here to access it. As a subscriber to Digital Bytes, you can save 20% on our new NFT course. Normally $39.98 but using the discount code DBYTES20 you can get it for $31.98
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: Is the digitalisation of $100trillion of assets a lifeline for traditional stock exchanges? - the asset management industry is beginning to understand the benefits of digitalisation and is offering digital funds to investors. The underlying funds remain the same but are made available in a digital wrapper. These new digital funds enable greater transparency, stronger risk management and compliance controls as well as enabling some funds to be sold to new investors. Whilst being quoted on a variety of new digital exchanges, digital funds also offer a huge market for existing stock exchanges. Full Article Here How blockchain is changing the recruitment process - although the digital transformation that accompanied the pandemic hasn't had a significant effect on resume screening, modern solutions are facilitating recruitment processes and making them faster, easier and more efficient. Blockchain technology is being used to collate, manage and store CVs with some firms already using the metaverse to help recruit new staff. Full Article Here How blockchains are supporting renewable and fossil fuel producers of energy - the integration of a large power generation capacity from renewable sources is only one example of how the energy transition might benefit from blockchain technology's potential for managing complexity. Blockchains are also being used by major petrochemical companies to help improve the trading of oil and gas products, supply chains as well as overall efficiency. Full Article Here Nine myths about blockchain - adoption of blockchain/Web3 continues to be restrained by a number of myths and by conventional wisdom. ‘Who, what, and when’ have held back ‘why’ as to what should be the primary driver of this discussion. And when we get to ‘why,’ it also takes us down the ‘coopetition’ path, meaning that for blockchain/Web3 to scale it will take a global village working together in a pro-competitive effort – for the benefit of all. It is not about where we compete - it is about where we can agree. Full Article Here Non-fungible Tokens Course Offer: Having been continually asked for our thoughts on NFTs, we have decided to create a series of short videos and roll them into a course so as to help people have a better understanding about these tokens Click here to access it. As a subscriber to Digital Bytes, you can save 20% on our new NFT course. Normally $39.98 but using the discount code DBYTES20 you can get it for $31.98 Click below to listen to the latest Digital Bytes Show on Cyber.FM Digital Bytes Show
Adoption of blockchain/Web3 continues to be restrained by a number of myths and by conventional wisdom. ‘Who, what, and when’ have held back ‘why’ as to what should be the primary driver of this discussion. And when we get to ‘why,’ it also takes us down the ‘coopetition’ path, meaning that for blockchain/Web3 to scale it will take a global village working together in a pro-competitive effort – for the benefit of all. It is not about where we compete - it is about where we can agree. Full Article Here
How many of us check any email recipients’ physical addresses before hitting the send button? Whether they are in Mogadishu or Mexico City or Miami, as long as the recipients are connected to the internet, they’ll receive your message. Now imagine that same frictionless protocol applied to value - not just currency, but assets and information. Just as the internet up-ended government control over communication and information, blockchain technology will revolutionise ownership.
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: Crypto infrastructure maturing, but what are the institutions really focused on? - global financial institutions have built the infrastructure to buy, sell and store cryptocurrencies. However, given that cryptos are relatively small in terms of adoption and market capitalisation, is there a hidden agenda as we see the financial services sector digitally transforming its products and services? Full Article Here How to invest in the metaverse - aside from its promising market spectrum, large companies and professional VC and PE firms are increasingly pouring capital into the metaverse. This year Microsoft made its biggest ever acquisition of $70billion, acquiring Activision Blizzard as a move into securing a major spot in the metaverse. Meta (Facebook’s new name) has invested $10billion to acquire and develop its hardware and software offerings with a strong focus on virtual reality (VR) capabilities within the metaverse. So, with VC and PE investors allocating capital to the metaverse, maybe you ought to find out more about the metaverse and see if you ought to buy into it as well…. Full Article Here How blockchain is set to impact manufacturers - the size of the blockchain technology market is predicted to grow in value by 87% p.a. and be worth over $1.59trillion by 2030. There already exist a number of manufacturers using blockchains so as to improve efficiency in supply chains, help reduce fraud and give greater transparency. Blockchains are providing the ability to track and trace goods from their raw materials to the final distributor/retailer in almost real-time, so engendering higher levels of confidence and trust - two key attributes in highly complex international multi-jurisdictional supply chains. Full Article Here Why diplomats and governments need to pay attention to crypto - how many of us check any email recipients’ physical addresses before hitting the send button? Whether they are in Mogadishu or Mexico City or Miami, as long as the recipients are connected to the internet, they’ll receive your message. Now imagine that same frictionless protocol applied to value - not just currency, but assets and information. Just as the internet up-ended government control over communication and information, blockchain technology will revolutionise ownership. Full Article Here New non-fungible Tokens Course Offer: Having been continually asked for our thoughts on NFTs, we have decided to create a series of short videos and roll them into a course so as to help people have a better understanding about these tokens Click here to access it. As a subscriber to Digital Bytes, you can save 20% on our new NFT course. Normally $39.98 but using the discount code DBYTES20 you can get it for $31.98
Traditional and decentralised finance are no longer the strangers they once were. These two once disparate worlds are colliding whilst at the same time multiple new technologies are converging to fundamentally change the future of finance. But what does the ‘era of convergence’ mean today? How are traditional firms embracing the digital asset revolution? And why are blockchain and crypto firms also beginning to look to traditional finance for some key aspects?
James and Jonny, guest free, guilt free, and .... maybe thought free!  The metaverse is disappointing certain people, is it worthy?  Is Meta the Metaverse?
The role of blockchains for supply chain management in the food industry - the supply chain management process plays a critical role in the food industry. Blockchain technology offers the food industry new tools to improve food safety, reduce waste, offer provenance of supplies and bring together diverse stakeholders over what can be complex global supply chains. Blockchain technology is also being used in the food industry by firms such as Starbucks to make loyalty programs more attractive and engaging. Full Article Here The challenges with digital assets being hacked - news about digital assets being hacked used to be a once-in-a-while event. After all, one of blockchain technology’s most lauded qualities was indeed the low chance of its security being breached. Now, desperation of hackers and thieves have taken a new turn and hacks occur with increasing regularity. This article will proffer answers to the following questions: Why are news of hacks becoming more prominent? Why and how do they happen? And, how can owners protect themselves? Full Article Here Central bank digital currencies (CBDCs) - many people feel that conventional or fiat currencies may one day become obsolete and be replaced with central bank digital currencies. It is likely that CBDCs will initially be used by institutions and coexist alongside traditional fiat currencies as there are grave concerns around the privacy of private citizens’ spending to be tracked and traced with a CBDC. However, as our lives and business become more digital, will the alure of CBDCs become too attractive? Full Article Here Traditional and decentralised finance: the era of convergence? - traditional and decentralised finance are no longer the strangers they once were. These two once disparate worlds are colliding whilst at the same time multiple new technologies are converging to fundamentally change the future of finance. But what does the ‘era of convergence’ mean today? How are traditional firms embracing the digital asset revolution? And why are blockchain and crypto firms also beginning to look to traditional finance for some key aspects? Full Article Here New non-fungible Tokens Course Offer: Having been continually asked for our thoughts on NFTs, we have decided to create a series of short videos and roll them into a course so as to help people have a better understanding about these tokens Click here to access it. As a subscriber to Digital Bytes, you can save 20% on our new NFT course. Normally $39.98 but using the discount code DBYTES20 you can get it for $31.98
- blockchain, along with its close friend, AI, and their ‘children’ - DAOs, NFTs and metaverses - are being watched globally to see if they will be the next panacea for the world’s crises. Whilst being no magic bullet, blockchain technologies have the unique capacity to provide automated solutions that certainly support many of the United Nations’ (UNs’) ESGs. Full Article Here Reach out to Marco Aniballi at https://block-blox.com
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: The music industry has digitally transformed and now that the asset management sector is too - many industries have put a digital wrapper around their businesses, promoting themselves online via their websites, emails, artificial intelligence, cloud computing, etc. However, digital transformation is about business transformation and not merely about having the ability to digitally interact with clients and suppliers. We have witnessed the music industry digitally transform and now we are seeing the asset management industry follow suit as more digitised/tokenised funds are being created. Full Article Here How blockchain technology can help fight fake news - as digital disinformation and misinformation increase, the media industry faces a profound crisis of confidence. At the centre of this problem is a disconnection with the audience in the era of social media. To mitigate this, tech companies have stepped in as the gatekeepers of information - proposing several solutions. Of these, there is an emerging technology with the potential to address most of the root causes of (and risks associated with) misleading and manipulated media - that is, blockchain. However, the question of exactly how the blockchain technology limits the spread of fake news should be addressed. Full Article Here How the metaverse is changing business - the size of the global metaverse market is predicted to reach $426.9 billion by 2027 (currently it is valued at $61.8 billion). Global brands such as Nike, KPMG and Accenture have already embraced the metaverse and we have also seen firms such as Facebook (which rebranded as Meta in 2021), Microsoft, Google and Apple pouring capital into it. Easy to dismiss the metaverse in the same way as some did with mobile phones or the internet but, as the virtual and physical worlds become blended, it does seem the metaverse is set to change businesses in many ways. Full Article Here Blockchains and sustainable development - blockchain, along with its close friend, AI, and their ‘children’ - DAOs, NFTs and metaverses - are being watched globally to see if they will be the next panacea for the world’s crises. Whilst being no magic bullet, blockchain technologies have the unique capacity to provide automated solutions that certainly support many of the United Nations’ (UNs’) ESGs. Full Article Here
- despite the recent downturn in many asset classes, there is an ongoing interest in having exposure to digital assets. Arguably, this is best achieved via professional managed funds as there undoubtably remain challenges as well as opportunities presented by having exposure to this exciting, but volatile, asset class. Full Article Here
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: How will the metaverse impact e-commerce? - to most people, the metaverse is all about gaming and entertainment. But much more than gaming and entertainment, the metaverse has a notably important role to play in the business world. We all know the internet has changed the way we connect, live, shop and much more. It has totally changed the way retail businesses operate around the world through massive digitalisation, and now the metaverse, too, is set to have a profound impact on e-commerce. Full Article Here Fashion in the metaverse - digital fashion's basic concept might be confusing to some, mainly because it involves purchasing and trying on outfits that do not exist outside of a computer screen. Nonetheless, many industry insiders are starting to embrace the metaverse as part of the way they engage with customers, undoubtedly now altering the future of fashion industry. Will the fashion publication, Esquire, prove to be correct? Full Article Here How blockchain technology and digital assets impact sport - blockchain and digital assets are increasingly being used by sports teams across the world to tackle some of the challenges around ticketing, as well as being used to explore new ways to commercialise the intellectual property owned by clubs and players alike. Using smart contracts and NFTs, sporting memorabilia can become long-term revenue generators as opposed to the one-off sales they have been historically. Full Article Here Managing digital assets: opportunities and challenges - despite the recent downturn in many asset classes, there is an ongoing interest in having exposure to digital assets. Arguably, this is best achieved via professional managed funds as there undoubtably remain challenges as well as opportunities presented by having exposure to this exciting, but volatile, asset class. Full Article Here
- in a society that strives to be woke, inclusive and mindful of its ESG credentials, the world’s disabled are often ignored. An app to reward both the able-bodied and disabled while they exercise has been established and pays its users in crypto tokens, which can be used to pay for equipment and future workshops. How inclusive is your company really and has it ignored this huge market? Full Article Here
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: NFT and copyright challenges - since the explosion of non-fungible tokens (NFTs) in 2021, copyrights have been a major problem in the industry as many fake and cloned NFTs have been sold to individuals who have little or no knowledge about them. Although there are many authentic tokens which have been sold for substantial amounts, the internet is full of copied products of several authentic NFTs. In the US, internet copyrights are very clear and infringements can result in fines of up to $150,000. So to some extent, NFTs are, at least and in essence, afforded some protection. Full Article Here Challenges of keeping your digital assets private - in theory, using blockchain technology to issue digital assets has offered greater privacy and enabled transactions to be carried out in a highly confidential manner using crypto graphic security, meaning that a third party such as a bank was no longer required or could know what the nature of the transaction was. Given that, in some countries it is illegal to spend more that €1,000 in cash, could we see transactions using stablecoins or CBDCs being challenged? Would you be happy if customs officers seized your phone at an international border and could review your digital assets? Full Article Here Adoption of digital assets in the US - the US FED is considering the merits of issuing its own CBDC and is one of the most vocal countries with respect to digital assets. But the US itself is not actually as fast in adopting digital assets. The crash of Terra Luna has strengthened some concerns expressed by lawmakers regarding this asset class and has arguably stemmed the tide on further widescale embracement of digital assets. Full Article Here One billion disabled people globally: is your business ignoring them too? - in a society that strives to be woke, inclusive and mindful of its ESG credentials, the world’s disabled are often ignored. An app to reward both the able-bodied and disabled while they exercise has been established and pays its users in crypto tokens, which can be used to pay for equipment and future workshops. How inclusive is your company really and has it ignored this huge market? Full Article Here
The global economy stutters, but maybe we will see lower electricity prices - An analysis of the current economic backdrop of rising inflation, lower economic growth and the prospect of interest rates increasing further. Coupled with this we have seen the prospect of utility bills rising substantially, particularly in Europe and the UK. However, help may indeed be at hand. If Europe can weather this winter, then more time can be created to source alternative energy supplies.  Borrowings, which are forecasted to escalate further for the EU and UK governments, may result in being less and therefore put a halt to the surging value of the US$.
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: How blockchain technology can support corporate ESG credentials - due to its tamper-resistant nature, blockchain fits as an assurance of accuracy and transparency of data. This decentralised database of records is designed to facilitate raw data authentication problems. The technology acts as a light node to transfer the data of smart infrastructure or devices to the blockchain network, thus offering greater transparency whilst maintaining privacy of data. As mandatory corporate and sustainability reporting becomes more common, accurate and verified documentation to support transparency becomes essential. Therefore, to comply with ESG standards, blockchain technology could prove to be a valuable tool. Full Article Here Challenges of losing your digital assets - digital assets are valuable but need to be handled carefully. In many cases, once lost, they cannot be recovered or replaced (unlike other assets, such as if you lose the deeds to your house or your share certificates). The loss of cryptocurrencies and other digital assets powered by blockchain technology can equally be a real challenge when people die and have not left a password to their beneficiaries. Recovering lost, stolen or hacked blockchain-based assets may not be possible if the private key to retrieve them is nowhere to be found. It is therefore advisable to keep a copy of your password in a secure place, as well as ensuring the assets themselves are not easy to access. Full Article Here Smart contracts: their impact on business and your savings - smart contracts are changing the way in which business is being transacted, ushering in new, more competitive and efficient markets based on merit as opposed to global brand recognition. Smart contracts can be programmed to search out and select the most competitive returns on saving products as well as being used in many different industries, automating processes, and cutting costs as well as enabling smaller companies access to markets and consumers. So, how will smart contracts effect your company and/or your savings in the future? Full Article Here SSI vs SBTs vs Web5 - since Jack Dorsey’s announcement of Web5 straight after Vitalik Buterin’s introduction of the soulbound tokens (SBTs), the decentralised web has been buzzing and making waves in the mainstream media. Although these are two separate announcements, both have been essentially putting the decentralised digital identity technology - self-sovereign identity (SSI) - in the spotlight. This article compares SSI to SBT and argues that SSI has been repackaged as Web5. Full Article Here
Welcome to this week’s Digital Bytes. This week we have analysis on the following topics: Ethereum’s: the Merge - Ethereum’s (ETH) long waited upgrade, ‘the Merge’, has heralded an exceptional occurrence in the crypto space because its success could kickstart a number of chain reactions. But a lot has happened since the Ethereum network began merging with Beacons Chain, raising many questions for both members and non-members in the crypto space, such as: Is the reduction in energy consumption the only benefit, and what does this spell for the Ethereum network? Full Article Here How blockchains are helping governments and the public sector - since 2008, blockchain technology has evolved and found various areas of applications where ‘trust’ is a challenge. The public sector has become a principal area of application in which governments and public sectors have announced several use cases all around the world. Digital currency/payments, creation of smart cities, supply chain traceability, public sector procurement, data management, taxation, voting, and legal entities management are some areas where blockchain technology is being used to help governments and public sectors be more transparent and more efficient. Full Article Here NFT’S: a beginner’s guide - Mainstream society doesn’t always properly comprehend innovation and this too seems to be the case with NFTs. NFTs are being embraced increasingly by global brands and organisations and are predicted to be the way that value is transferred as well, and goods and services will be paid for in the metaverse. NFTs have captured the imagination and indeed the headlines as with any asset class it has also attracted its fair share of nefarious characters. In essence we are only really beginning to understand how NFTs can be used in a variety of situations. Full Article Here Open-source ERC3643 brings standardisation and interoperability to digital securities - standardisation is an essential component in the steps towards mainstream adoption since it brings interoperability, security, and efficiency. In the blockchain world, token smart contract standards serve the same purpose. There are token standards for minting different types of tokens, such as ERC20 for utility tokens, ERC721 for NFTs, and ERC3643 for permissioned tokens (digital securities, stablecoins, etc.). These standards are open-source, allowing any developer to use and build their projects on top of them freely. Full Article Here
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