Unlocking agriculture’s power 🌾, China & Singapore 🤝, 5 emerging trends in AI ♨️
Daily Crypto, Blockchain & Web3 Update 2023-04-23
BITCOIN
Bitcoin traders call for calm as BTC price slips 10% in a week (3 min read)
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD barely preserving the $27,000 mark after the Wall Street trading week ended on a sour note. While U.S equities saw some modest gains on April 22, Bitcoin continued to suffer, and analysts cautioned that it may drop to $25,000.
With that, BTC/USD was down 10% for the week and 4% in April overall, according to data from monitoring resource Coinglass, amid a dramatic turnaround in fortune versus much of Q1.
Over 30% of TikTok videos on crypto investments are misleading: Research (2 min read)
Many people now rely on TikTok as their first source of information rather than going to Google for answers, but the recent study from daapGamble alleges that many influencers are sharing unvetted misinformation about crypto investments, often trying to convince unwary viewers to put their, or their parents’, hard-earned money into cryptocurrencies that will lose them money.
Many TikTok influencers use the hashtag “#cryptok” while posting crypto-related content. The research also found that just one out of 10 “cryptok” accounts or videos contained some form of disclaimer that warned users about the risks of investing.
ETHEREUM
SafeMoon hacker agrees to return 80% of stolen funds: Finance Redefined (2 min read)
According to a blockchain message from SafeMoon on April 18th, the individual responsible for stealing $8.9 million in Binance Coin from the platform has agreed to return 80% of the funds.
SafeMoon operates as a decentralized finance (DeFi) protocol on the Binance Smart Chain. It was hacked on March 28, resulting in a loss of 27,000 BNB, worth $8.9 million at the time.
BLOCKCHAIN
Unlocking agriculture’s full potential with blockchain and innovative tech (5 min read)
The agricultural sector can join the tech revolution to upgrade every aspect that has to do with transactions and data. For example, blockchain could streamline processes related to the supply chain by increasing traceability and bringing automation to the table.
InsightAce Analytics' report reveals that the market for blockchain in agriculture and food supply chains is worth over $280 million, and is estimated to increase to $7 billion with an annual growth rate of 43.76% by 2031.
NFTS
Nifty News: Yuga Labs scores court battle win, Mandala Metaverse to drop on Polkadot and more… (4 min read)
Bored Ape Yacht Club (BAYC) creator Yuga Labs has scored a key victory in its long-running court battle with Ryder Ripps, the co-creator of copycat nonfungible token (NFT) project RR/BAYC.
Mandala Metaverse to drop on Polkadot: Upcoming cross-chain augmented reality (AR) game Mandala Metaverse has chosen Polkadot parachain Astar Network to host its first major NFT drop on April 28.
Square Enix partners with Elixir Games: Final Fantasy developer Square Enix has partnered with Web3 infrastructure firm Elixir Games to bring blockchain gaming to the mainstream.
NFT cricket game on Tezos: A free-to-play multiplayer NFT cricket strategy game called Cricket Stars has been launched on the Tezos blockchain.
BUSINESS
China and Singapore team up to scale green and transition financing (2 min read)
Major Asian economies, including China and Singapore, have set up a task force to deepen bilateral cooperation in green and transition finance. The move is aimed at facilitating greater public-private sector collaboration for a low-carbon future in the region.
The Monetary Authority of Singapore (MAS) announced its collaboration with the People’s Bank of China (PBC) in establishing the China-Singapore Green Finance Taskforce (GFTF).
Trust Wallet to reimburse users after $170,000 security incident (2 min read)
Trust Wallet found out about the issue through its bug bounty program.
The breach resulted in two exploits that led to a total loss of nearly $170,000. Approximately 500 vulnerable addresses remain, with an $88,000 balance, according to a postmortem report. Affected users will be offered a refund and gas fee assistance to cover the costs of fund transfers.
Gemini to launch derivatives platform outside the United States (3 min read)
The move comes amid a tightening and uncertain regulatory environment for crypto firms in the country. The platform’s first derivatives contract will be a Bitcoin perpetual contract denominated in Gemini Dollar (GUSD), followed by an ETH/GUSD perpetual contract shortly after.
Eligible customers will be able to trade both spot and derivatives products, as well as convert U.S. dollars and USD Coin into GUSD on a 1:1 basis. Fees, profits, and losses will also be processed in GUSD.
DEFI
How is artificial intelligence revolutionizing financial services? (5 min read)
AI is playing an increasingly vital role in the financial services industry. AI's ability to help financial firms understand and anticipate client demands, preferences, and behaviors through predictive analytics is widely recognized. They can then use this information to create goods and services that are more individually tailored.
AI is also being utilized to enhance risk management and fraud detection in the financial services industry. It is being used for portfolio optimization and financial forecasting.
5 emerging trends in deep learning and artificial intelligence (3 min read)
Deep learning and artificial intelligence (AI) are rapidly evolving fields with new technologies emerging constantly. Five of the most promising emerging trends in this area include federated learning, GANs, XAI, reinforcement learning and transfer learning.
New advancements in technology can revolutionize the way machine learning is used, from image recognition to gaming, and provide exciting opportunities for developers and researchers.
How to Copy Michael Saylor and Create Your Own Bitcoin Lightning Email Address (3 min read)
Employees of business software company MicroStrategy can now receive Bitcoin payments to their corporate email addresses.
The Lightning Network, Bitcoin's speedier and more scalable cousin, fixes Bitcoin's scalability problems. Traditionally, when someone wants to receive a Lightning payment, they generate a Lightning invoice, a long scrambled string of characters that isn't human-readable.
To counter this, The Lightning Address standard is spreading across the industry, replacing the long, ugly invoice with what looks like a familiar email address.