Global Crypto News by Killerwhale
Welcome to the Global Crypto News hub! Articles by Killerwhale go over the news you may have missed that involves crypto, but had a real world effect. Sit back, relax, and enjoy! News is gathered throughout the week and posted every Saturday!
X is getting closer to integrating crypto payments
Elon Musk's X obtaining a currency transmitter license in a US state raises the possibility that the social networking service, formerly known as Twitter, could soon enable the processing of payments made using both fiat and cryptocurrency. The Rhode Island currency transmitter license allows X to assist with the custody, transfer, and exchange of digital currencies, which is a legal requirement for money transfer companies.
Musk acquired X last year and has stated that he wants to make it an "everything app." He sees X as a key platform with endless possibilities for user communication, sharing, and payment processing. This includes the ability for users to send, receive, and store cryptocurrency directly on the platform.
The acquisition of this license is an important milestone for the cryptocurrency industry, as it could make digital currencies more accessible to everyday people. It remains to be seen what specific crypto payment features X will offer, but this could include allowing users to buy, sell, and trade cryptocurrencies directly on the X platform, as well as use crypto to pay for goods and services.
Although the platform will initially offer fiat currency transaction services similar to PayPal, the acquisition of this license is still encouraging for X's ability to support cryptocurrencies in the future. Musk has been a vocal proponent of cryptocurrencies, and this license is a step towards making X a more "cryptocurrency-friendly" platform. This could help to legitimize cryptocurrencies and make them more appealing to non-technical users.
The possibilities are endless, and it will be interesting to see how X ultimately integrates cryptocurrency payments. However, the acquisition of this license is a major step forward, and it could have a significant impact on the future of the cryptocurrency ecosystem.
Source: binance.com
ChatGPT founder’s project takes a divisive turn
One human every nine seconds. That's the incredible statistic from Argentina, where the Worldcoin project is breaking all records.
Since July 24, when the project launched its mission to scan as many human irises as possible across the globe in exchange for a handful of tokens, it's in Argentina that the Worldcoin teams have recorded the highest number of requests. Despite legitimate concerns about the system's reliability, data collection, and protection, Sam Altman's concept continues to attract volunteers and divide opinion. Investigations are underway around the world, and some countries have obviously banned it.
Nevertheless in Buenos Aires, citizens are still lining up to take part into a crypto Summer’s phenomena, so as to receive their World ID.
Worldcoin is a project that aims to create a global, decentralized digital identity system. The project uses a unique scanning technology to create a biometric identifier for each person, based on their iris. This identifier is then stored on a blockchain, and can be used to verify a person's identity for a variety of purposes, such as accessing financial services, voting, or travel.
There are a few reasons why Worldcoin has been so popular in Argentina. First, the country has a high rate of poverty along with unemployment, and many people are looking for ways to make a living. To remedy this problem, the Worldcoin project offers an appealing solution in the form of a small financial incentive, characterized by a token allocation so as to drive people to have their irises scanned.
Moreover, knowing that Argentina has a history of financial instability with several economic crises in recent years, as well as citizens getting a larger and more active cryptocurrency community, which has led to a loss of trust in traditional financial institutions, the Worldcoin project offers a means for people to store their money in a decentralized way, which may seems as more secure.
However, there are a number of concerns about the Worldcoin project. Most people worry about the privacy implications of having their irises scanned. Other worries are about the security of the system, and the potential for the data being hacked or being used for malicious or unethical purposes.
Additionally, some people believe through theories that the project is simply a way for the Worldcoin team to collect data on people around the world.
Although the project has faced a number of challenges, including regulatory scrutiny and public concerns about privacy, it has also attracted a lot of attention, especially in south America, and it could eventually become a major player in the digital identity space.
Source: journalducoin.com
The European Commission outlined their plans for the metaverse, confirming previously leaked plans that we would see new standards, and governance for virtual worlds
The commission is not proposing any new laws and is being vague about funding for what it sees as the next generation of the internet, but politicians are eager for the blockchain to make the most of a technology they see as having economic and ethical implications.
"Today, Europe is throwing its hat in the ring to become a world leader in Web 4.0 and virtual worlds," said Thierry Breton, the European Commissioner for the bloc's internal market, in a statement.“ Europe has what it takes to lead the next technological transition."
The EU executive, which estimates that virtual worlds could be worth 800 billion euros ($880 billion) globally by 2030, is planning to invest in research and development and work with industries to develop standards and governance for the metaverse.
A commission official, speaking on condition of anonymity, said that a new virtual worlds partnership under its science funding program, Horizon Europe, could receive funding of around 200 million euros. The official added that there is potential for investment via EU regional funds.
Political interest in the metaverse is high. In March, leaders of all 27 EU member states included "Web 4.0" on a list of technologies that the bloc needs to stay competitive, alongside artificial intelligence (AI), quantum computing, and 6G internet networks.
EU lawmaker Axel Voss believes that the metaverse raises a number of legal issues, such as giving avatars their own legal status, protecting copyright and patents, and dealing with virtual crime.
"There are a lot of questions that need to be answered, and I don't expect the commission to answer them all," Voss, a German Member of the European Parliament who spearheaded the EU's recent work on AI, said in an interview before he had seen the proposals.
Voss appears to favor going further than the commission, suggesting that existing laws such as the General Data Protection Regulation (GDPR) will need to be updated for the metaverse.
"The GDPR is totally not in line with new technologies," he said of the EU's landmark privacy rules, citing AI, blockchain, and cloud computing. "We need to modernize or update the GDPR and align it with new technologies."
Voss believes that the EU failed to tackle illegal content on social media early enough, and he worries that the bloc could make the same mistake with the metaverse.
"Old-fashioned people laughed about the internet, and then all of a sudden we had a totally different world," he said. "If we don't act now, if we don't act together, and if we don't act on priorities, I don't see how we can catch up."
Source: coindesk.com
