Blockchain

Some of DeFi's biggest names have backed a new play-to-earn (P2E) blockchain game that aims to replicate the addictive success of 2013 mobile phenomenon Flappy Bird.&nbsp;
This week, Synthetix's Kain Warwick, Aave's Stani Kulechov, Barnbridge's Tyler Ward, angel investor Santiago Santos (ex-ParaFi Capital), and Sushi's 0xmaki joined a pre-seed round for the upcoming Fancy Birds, which is set to launch in about a month. &nbsp;
Fancy Birds is a single-player mobile game with 8,888 completely random NFT characters that start out with customization options and fight their way through levels to become "the fanciest bird in the nest."&nbsp;
Prolific players receive 40% of the Fancy (FNC) token supply, and upgrades will allow the game to release multiplayer mode, with breeding, staking, and tournaments planned. The team is working on launching it on the Ethereum NFT scaling layer 2 project Immutable X.&nbsp;
&nbsp;&nbsp;
Fancy Birds, like a number of other potentially big meme projects, appeared out of nowhere on Twitter a few weeks ago after Illuvium founder Kieran Warwick wondered on Twitter: "How hasn't someone created a play to earn Flappy Bird?" He stated to Cointelegraph:&nbsp;
&ldquo;It's not complex, just super addictive and a lot of fun and at its peak it had 100 million users daily. Turns out someone is actually building it and it&rsquo;s in beta now."&nbsp;

Some of DeFi's biggest names have backed a new play-to-earn (P2E) blockchain game that aims to replicate the addictive success of 2013 mobile phenomenon Flappy Bird.This week, Synthetix's Kain Warwick, Aave's Stani Kulechov, Barnbridge's Tyler Ward, angel investor Santiago Santos (ex-ParaFi Capital), and Sushi's 0xmaki joined a pre-seed round for the upcoming Fancy Birds, which is set to launch in about a month.

Major DeFi founders support a play-to-earn game that aspires to be the next Flappy Bird.

The French central bank is still actively investigating a central bank digital currency (CBDC), having completed a significant trial of a blockchain-based CBDC in the country's debt market.&nbsp;
According to The Financial Times, over 500 institutions in France took part in a 10-month experiment testing a CBDC issued by the Banque de France for government bond deals.&nbsp;
Euroclear, a Belgian financial services firm, led the CBDC trial, which used a system developed by American technology giant IBM. The CBDC test also included the French public debt office, the central bank, and a consortium of major French financial institutions.&nbsp;
Participants in the trial traded government bonds and security tokens, settling them with a CBDC provided by the central bank. The project tested CBDC use cases in a variety of everyday activities, including issuing new bonds, using them in repurchase agreements, and paying coupons and redeeming deals.&nbsp;
"We have successfully measured the inherent benefits of this technology, concluding that central bank digital currencies can settle central bank money safely and securely," said Euroclear executive Isabelle Delorme.&nbsp;
According to Soren Mortensen, IBM's global director of financial markets, the project "went far beyond previous blockchain initiatives" because it successfully trialed "most central securities depository and central bank processes" while eliminating existing intermediary steps such as reconciliation.&nbsp;
Following the launch of an experimental CBDC program in March 2020, the French central bank has been experimenting with various CBDC use cases on a regular basis. In collaboration with Swiss cryptocurrency bank SEBA, Banque de France tested a CBDC in June to simulate the settlement and delivery of listed securities.&nbsp;

The French central bank is still actively investigating a central bank digital currency (CBDC), having completed a significant trial of a blockchain-based CBDC in the country's debt market.

The French central bank is testing a blockchain-based CBDC for the debt market.

Bitkraft VC, an e-sports investment platform, has launched a $75 million token fund to invest in blockchain gaming and digital entertainment.&nbsp;
The fund employs a "stage-agnostic" strategy, which means it will invest in businesses and startups at any stage of growth. Aside from equity, the token fund will invest in cryptocurrencies and nonfungible tokens (NFTs).&nbsp;
Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021 in order to provide regulated investment opportunities.&nbsp;
Piers Kicks, a founding partner in Delphi Digital's investment arm, is in charge of the new token fund. Kicks joined Bitkraft earlier this year to lead the company's crypto and NFT investment efforts&nbsp;
According to Bitkraft, the fund has already closed six investments, including Yield Guild Games (YGG), Immutable, Alethea AI, and Horizon Games. Kicks told Cointelegraph that YGG and Alethea are both direct token investments. "We were only able to announce the funding after the final closing," he added, "but we have been actively deploying from it.&nbsp;
While the fund has primarily invested in startups based on the Ethereum blockchain, Kicks stated that "we take a chain-agnostic approach and evaluate each project on a case-by-case basis." We're starting to see some exciting activity on Solana, and we'll be keeping a close eye on the early gaming projects in that ecosystem."&nbsp;
According to Jens Hilgers, Bitkraft Ventures' founding general partner, the fund plans to invest in approximately 25 more companies by the end of 2022. As of Oct. 1, 2021, the venture capital firm had more than $540 million in assets under management, with a portfolio that included more than 60 companies from North America, Europe, and Asia.&nbsp;
With many new use cases for DeFi and NFTs, the gaming industry has proven to be prime territory for digital currencies adoption. Axie Infinity, a blockchain game, has become one of the most prominent Ethereum-based NFT games this year, with its native token AXS reaching a new all-time peak above $155 on Monday. DeFi Land, a blockchain gamification platform, raised $4.1 million in September to launch a new DeFi game on Solana.&nbsp;

Bitkraft VC, an e-sports investment platform, has launched a $75 million token fund to invest in blockchain gaming and digital entertainment.

Bitkraft, a gaming venture capital firm, has launched a $75 million investment fund for blockchain gaming.

National authorities in Japan are cracking down on cryptocurrency investors who have been evading taxes. According to local reports, a large-scale tax audit on individuals discovered tax evasion to the tune of 1.4 billion yen, or nearly $12 million.&nbsp;
It was reported that several people profited from trading ADA during its rise. In this case, the tax issues reportedly totaled 670 million yen ($6 million). Cardano reached an all-time high of around $3 this year and returned nearly 150 percent on a monthly basis.&nbsp;
The &ldquo;Ethereum killer&rdquo; is well-known in Japan following its initial coin offering (ICO) in the country. Furthermore, authorities will focus on &ldquo;tax-saving measures&rdquo; that are legally ambiguous and have reportedly become popular among businesses and individuals.&nbsp;
The news comes on the heels of reports that Japan, unlike other countries, is unable to track personal cryptocurrency transfers. It was stated that &ldquo;personal transactions bypass formal exchanges,&rdquo; and Japan is attempting to solve the problem. A Chainalysis analyst also discovered several payments that used channels to conceal the destination of transfers.&nbsp;

National authorities in Japan are cracking down on cryptocurrency investors who have been evading taxes. According to local reports, a large-scale tax audit on individuals discovered tax evasion to the tune of 1.4 billion yen, or nearly $12 million.

Cardano traders in Japan are being investigated for possible tax evasion.

According to a recent local report, Vault Digital Funds has introduced a new fund for New Zealand investors called the Vault International Bitcoin Fund.&nbsp;
&nbsp;They would be able to add the asset class to their portfolio without having to own it directly through it. Vault Digital Funds Co-Founder Janine Grainger commented:&nbsp;
&ldquo;We see this as a great way for people to get that exposure without having to do all the more complicated and technical parts of it themselves.&rdquo;&nbsp;
&nbsp; She mentioned that the initiative would be a little distinct than most conventional investment funds. It would be suitable for users with a ten-year investment plan.&nbsp;
Nonetheless, Vinnie Gardiner, CEO and Co-Founder of Vault Digital Funds, advised people associated with cryptocurrencies about the risks:&nbsp;
&ldquo;Bitcoin isn&rsquo;t appropriate for everyone. This is something that people should not be taking lightly.&rdquo;&nbsp;
&nbsp; Darcy Ungaro, host of the NZ Everyday Investor and a licensed financial advisor, also weighed in on the move. He noted that, despite widespread belief that bitcoin is a "scam or fad," locals have recently demonstrated a growing appetite for cryptocurrencies:&nbsp;
&ldquo;Over the past three years, I have been having conversations where people say bitcoin is a scam, or a fad, something to be avoided. But recently I have been helping more and more people allocate a portion of their portfolio towards it.&rdquo;&nbsp;
In fact, the most serious risk is not if bitcoin is a scam, but rather how people hold and store their cryptocurrency holdings. Ungaro expressed optimism that the Vault International Bitcoin Fund would provide investors with the necessary level of security &ldquo;because it handles all custody issues.&rdquo;&nbsp;

According to a recent local report, Vault Digital Funds has introduced a new fund for New Zealand investors called the Vault International Bitcoin Fund.

New Zealand Has Introduced First Ever Bitcoin-Only Investment Fund

RealX, a native financial technology firm, started up in 2020 but then was forced to halt operations due to the COVID-19 outbreak has launched a Blockchain-based property ownership system in India. &nbsp;
The company recently teamed up with Tripvillas, a vacation property rental service, to combine the stake of vacation properties based on usage and yield. Tripvillas will also be in charge of managing the portfolio of vacation properties intended for co-investment on the RealX platform. The RealX blockchain-based platform allows Indian investors to trade holiday homes with &ldquo;direct deeded co-ownership.&rdquo; Using a smart contracts registry, investors can invest in high-yield, high-return rental homes digitally.&nbsp;
Manish Kumar, co-founder and CEO of RealX, stated that while the pandemic was devastating, it also provided an opportunity for RealX to revitalize its strategic plan.&nbsp;
Neera Inamdar, co-founder and COO, stated:&nbsp;
<h5>&ldquo;During the pandemic, we got a lot of insights from our customers as well as developers. We realized that while developers were in distress, customers still did not have a way to participate in the property market as an investor. We set out to cover this gap and in turn create a win-win solution for both.&rdquo;&nbsp;</h5>
She also mentioned that their investment procedure is simpler and distinct from that of other players in the space. &ldquo;We offer &lsquo;direct deeded property co-ownership,' and it is in the best interests of investors to become direct co-owners of the property,&rdquo; Inamdar clarified.&nbsp;

RealX, a native financial technology firm, started up in 2020 but then was forced to halt operations due to the COVID-19 outbreak has launched a Blockchain-based property ownership system in India.

RealX, a financial technology firm, has launched a Blockchain-based property ownership system in India.

Texas has reaped the benefits of China's decision to halt bitcoin mining, which triggered the &lsquo;Great Mining Migration' to Austin, Texas. The Texas Blockchain Council now has 70 members and has been led by Lee Brachter, the organization's President. And, on Friday, 8th October he will conduct the Texas Blockchain Summit, which could be the biggest state blockchain one-day conference ever.&nbsp;
Texas Governor Greg Abbott has already met twice with the Texas Blockchain Council. Abbott recently stated on Twitter, "Texas will be the crypto leader." Cryptocurrency is now coming to Texas grocery stores.&rdquo; Abbott was relating to H-E-decision B's to install cryptocurrency kiosks in chosen Texas supermarkets.&nbsp;
Lee Brachter, President of the Texas Blockchain Association, mentioned &nbsp;
<h3>"Texas is poised to become the jurisdiction of choice for blockchain innovation for several reasons including; the business-friendly climate that has been cultivated in Texas for many years, the efforts of our Texas Blockchain Council working alongside lawmakers like Representative Tan Parker and Senator Angela Paxton to create legal and regulatory frameworks that allow for entrepreneurs to innovate."&nbsp;</h3>
Texas House Bills 1576 and 4474 went into effect on September 1, 2021, after being enacted by Governor Greg Abbott in June of that year. Texas House Bill 1576 creates a blockchain-based working group. HR 4474 was a bill that updated the Uniform Commercial Code to understand cryptocurrency, making New York, along with Rhode Island and Wyoming, the third state to do so. Meanwhile, the Texas Department of Banking Commissioner released a notice permitting all Texas state-chartered banks to hold bitcoin and other cryptocurrencies.&nbsp;

Texas has reaped the benefits of China's decision to halt bitcoin mining, which triggered the ‘Great Mining Migration' to Austin, Texas. The Texas Blockchain Council now has 70 members and has been led by Lee Brachter, the organization's President. And, on Friday, 8th October he will conduct the Texas Blockchain Summit, which could be the biggest state blockchain one-day conference ever.

Texas  looks set to become a global leader in bitcoin and blockchain technology.

DC Comics is the latest to join the NFT craze, announcing on September 29 that it would collaborate with Palm NFT Studio to release its first set of NFTs. The NFTs will be available on October 5th as a thank you to those who have signed up for the DC&nbsp;FanDome&nbsp;2021.&nbsp;
DC publisher and Chief Creative Officer Jim Lee will curate the NFT series. They will be created with Palm NFT Studio's proprietary system, which is described in the press release as an environmentally sustainable and energy-efficient technology. Many NFT projects are taking this issue seriously.&nbsp;
The assets will highlight the company's history, as well as its various characters and "diversity of storytelling."&nbsp;
If they enroll in the year's global virtual event, all registrants will be able to collect an NFT for free. They can get a second one if they share it on social media.&nbsp;
Among the many characters in DC's legendary roster are Batman, Superman, Wonder Woman, Green Lantern, and Harley Quinn, as well as many well-known villains and anti-heroes. Fans will be able to collect three covers for each character at three different levels of rarity as part of the NFT drop. These rarities are divided into three categories: common, rare, and legendary.&nbsp;

DC Comics is the latest to join the NFT craze, announcing on September 29 that it would collaborate with Palm NFT Studio to release its first set of NFTs. The NFTs will be available on October 5th as a thank you to those who have signed up for the DC FanDome 2021.

DC Comics will release its first NFT collection.

EMURGO, a blockchain technology firm, has made a significant investment in the Cardano (ADA) ecosystem.&nbsp;
In a tweet, EMURGO announces a $100 million c into the Cardano ecosystem through an investment vehicle to accelerate development in several key areas, including decentralized finance (DeFi) and non-fungible token (NFT) technology.&nbsp;
&ldquo;EMURGO will invest $100 million in the Cardano ecosystem to speed up DeFi, NFT solutions, and blockchain education!&rdquo;&nbsp;
The Cardano ecosystem's investment vehicle will be divided into two entities, EMURGO Africa and EMURGO Ventures, each with a distinct focus area.&nbsp;
&ldquo;EMURGO Africa aims to support over 300 regional startups with seed funding and incubation, with the goal of eventually having Cardano's blockchain adopted as the technological platform standard in Africa for socially impactful solutions.&nbsp;
EMURGO Ventures will focus on other developed markets to facilitate the development of Cardano-based solutions and services, with capital allocated for seed investments in a variety of Cardano-focused startups and middleware solutions companies, including those developing decentralized financial services (DeFi), non-fungible token (NFT) projects, blockchain developer education tools, and other decentro-based solutions.&nbsp;
According to Cardano founder Charles Hoskinson,&ldquo;EMURGO's investments will help to shape the future of the Cardano ecosystem by expanding smart contract capabilities and global partnerships.&rdquo;&nbsp;
To expand the Cardano ecosystem on the African continent, EMURGO Africa has partnered with Africa-focused firms Adanian Labs and Adaverse. Adanian Labs operates a venture development studio, and Adaverse is a Cardano-focused accelerator program.&nbsp;
Meanwhile, Emurgo Ventures has made a seed investment in Milkomeda, a Cardano sidechain project.&nbsp;

EMURGO, a blockchain technology firm, has made a significant investment in the Cardano (ADA) ecosystem. In a tweet, EMURGO announces a $100 million investment into the Cardano ecosystem through an investment vehicle to accelerate development in several key areas, including decentralized finance (DeFi) and non-fungible token (NFT) technology.

Cardano Secures $100 Million Investment to Accelerate the Expansion of DeFi and NFT Solutions

COTI, a blockchain-powered crypto payment ecosystem, has today announced the launch of its COTI bank account and VISA debit cards.&nbsp;
&ldquo;We have been working with our close partner, Simplex, to provide our users with COTI bank accounts and debit cards, and we are happy to have successfully achieved this important milestone.&rdquo;&nbsp;
&ndash; The COTI Team&nbsp;
Debit cards and bank accounts are critical components of COTI's all-encompassing financial ecosystem, allowing for a smooth transition between the fiat and crypto worlds. COTI is the first to list on this program as a Simplex design partner, and the COTI community will be the first to own a branded COTI Pay debit card.&nbsp;
COTI customers will be able to open a new account in their name with an IBAN, store fiat natively in their COTI Pay wallet, and invest their balance globally at any trader that wants to accept VISA cards, both online and in-store, by using the crypto-friendly bank account.&nbsp;
Because Simplex is a founding member of VISA, these debit cards are far more long-lasting than other crypto cards. You will be able to use the card indefinitely once you receive it.&nbsp;
In the future, this banking program will be part of the COTI Pay Business suite offered to merchants, significantly increasing their usage volume and thus increasing the rewards for COTI's stakeholders.&nbsp;
The initial COTI account version rollout includes the following features:&nbsp;
<ol>
<li data-leveltext="%1." data-font="Calibri" data-listid="2" aria-setsize="-1" data-aria-posinset="1" data-aria-level="1">Opening and using an IBAN COTI's VISA debit card to open a bank account&nbsp;</li>
</ol>
<ol>
<li data-leveltext="%1." data-font="Calibri" data-listid="2" aria-setsize="-1" data-aria-posinset="2" data-aria-level="1">Converting cryptocurrency to fiat and spending it anywhere in the world with the COTI debit card, online or in-store&nbsp;</li>
</ol>
<ol>
<li data-leveltext="%1." data-font="Calibri" data-listid="2" aria-setsize="-1" data-aria-posinset="3" data-aria-level="1">The card must be activated. Receiving a secure PIN, checking your balance, and viewing your transactions&nbsp;</li>
</ol>
<ol>
<li data-leveltext="%1." data-font="Calibri" data-listid="2" aria-setsize="-1" data-aria-posinset="4" data-aria-level="1">Make withdrawals from an ATM, SWIFT, or SEPA system.&nbsp;</li>
</ol>
<ol>
<li data-leveltext="%1." data-font="Calibri" data-listid="2" aria-setsize="-1" data-aria-posinset="5" data-aria-level="1">Loading the account by selling cryptocurrency, swift, SEPA, and credit cards&nbsp;</li>
</ol>
There are 3,000 cards in the first round. They will be sent first to those who have previously registered. The second round will begin in a month and will include 5,000 more cards.&nbsp;

COTI, a blockchain-powered crypto payment ecosystem, has today announced the launch of its COTI bank account and VISA debit cards.

COTI bank accounts are now available, and crypto debit cards are being shipped.

Crypto

Shiba Inu owners may be in for a pleasant surprise. According to rumors, Tesla may add the contentious meme token as a payment option.&nbsp;
The rumor is based on an examination of the Tesla website source code, which shows $SHIB as a payment type. However, no official word has been received from the EV company on this.&nbsp;
When Tesla announced a $1.5 billion Bitcoin purchase and the addition of Bitcoin as a payment option in early February, the leading cryptocurrency experienced a 23 percent increase on the day. According to some analysts, this event was the primary driver of Bitcoin's mid-April highs.&nbsp;
According to Sawyer Merritt, the Shiba Inu is listed in the "inspect element" section during checkout on the Tesla website source code.&nbsp;
Merritt admits that he has no idea what this means because he has no coding experience. Merritt also has no professional background in cryptocurrencies as the co-founder of Twin Birch, a sustainable clothing line. (SHIB) as remuneration.&nbsp;
&ldquo;So it appears the Tesla website source code shows SHIBA (aka $SHIB) under the payment type section in the code when clicking &lsquo;inspect element&rsquo; during checkout. It&rsquo;s not live however. Since I am not a coder or anything, I&rsquo;ll let ya&rsquo;ll figure out what the heck this means lol.&rdquo;&nbsp;

Shiba Inu owners may be in for a pleasant surprise. According to rumors, Tesla may add the contentious meme token as a payment option.

According to a website leak, Tesla is about to accept Shiba Inu (SHIB) as payment.

Users of the AAX cryptocurrency exchange can now withdraw money Wrapped Ether (wEth) tokens directly from the AAX exchange and to other supported crypto networks, as well as trade Ethereum with other ERC-20 compatible tokens on the platform.&nbsp;
The exchange announced the launch yesterday, claiming that the new move will simplify transactions and interoperability between Eth and other ERC-20 compatible tokens. It will also allow Ethereum miners on the Australian-based Ethermine mining pool to make real-time and low-cost withdrawals of their mining proceeds to the AAX exchange via the Polygon network.&nbsp;
&ldquo;While wETH has always dominated the conversation among Ethereum miners as one of the most popular payout options for their mining efforts on Polygon Network, Ethermine, an Austrian mining pool run by Bitfly blockchain technology firm, is currently the largest mining pool for Ethereum.&rdquo;&nbsp;
As a result of the integration, the exchange has become the first and only cryptocurrency exchange to support wrapped Ethereum tokens.&nbsp;
Customers can use wrapped Eth to withdraw any cryptocurrency directly from the exchange and deposit it to any supported mining pools, decentralized applications, and other platforms without first converting the cryptocurrencies they want to deposit or withdraw, which consumes a portion of the amount in transaction fees.&nbsp;
The AAX exchange backs the wEth token at a 1:1 ratio in Etherum reserves.&nbsp;
A wrapped Ether is an ERC-20 token that is technically distinct from the Ethereum cryptocurrency but is used to represent the standard Ethereum in any transaction on a 1:1 basis. To wrap Ethereum in this manner, a user sends an equivalent amount of Ethereum to smart contracts in exchange for an equivalent amount of the wEth token. Ethereum in its native form is incompatible with ERC-20 tokens that run on the blockchain or other chains, despite the fact that these many tokens power so many decentralized finance applications.&nbsp;

Users of the AAX cryptocurrency exchange can now withdraw money Wrapped Ether (wEth) tokens directly from the AAX exchange and to other supported crypto networks, as well as trade Ethereum with other ERC-20 compatible tokens on the platform.

AAX is the first cryptocurrency exchange to support wrapped ether.

With the latest permission of bitcoin futures ETFs, total inflows into ETFs reached $1.24 billion. As of October 26, 2021, digital investment products had received $1.47 billion in digital asset inflows, with Bitcoin receiving the majority of the inflows, followed by altcoins from Solana, Cardano, and&nbsp;Binance. According to the survey, the percentage of advisors who included cryptocurrency in their clients' investment portfolios increased from 6.3 percent to 9.4 percent.&nbsp;
Because of trends such as inflation, there is a middle-market where financial advisors manage approximately $20T where there is no optimal investment in non-crypto asset classes, and this is where the futures ETF may come up trumps.&nbsp;
In a recent survey, up to a quarter of advisors saw bitcoin as a hedging tool, a 16 percent increase from the previous year.&nbsp;
According to Simeon Hayman of&nbsp;ProShares, the abundance of regulation in the futures market, combined with the ease and structure of an ETF, will drive investment by people looking to get into bitcoin.&nbsp;
The Chicago Mercantile Exchange (CME) and the Commodity Futures Trading Commission (CFTC) work together to prevent futures market manipulation. In a commodities market, the futures market, not the spot market, ultimately determines the price. Futures appear to have much more liquidity, and the CME market trades at roughly 40% more volume than the largest U.S. spot market exchange.&nbsp;
The Valkyrie Bitcoin Strategy ETF is an active funds that invests in front-month bitcoin futures, treasuries, corporate bonds, and cash. Valkyrie Funds' chief investment officer, Steven McClurg, believes a spot bitcoin ETF will not be available until the middle of 2022. Van Eck's proposal for a physical bitcoin ETF must be denied or approved by the SEC by November 14, but they have filed for a bitcoin futures ETF in the meantime.&nbsp;
&nbsp;

With the latest permission of bitcoin futures ETFs, total inflows into ETFs reached $1.24 billion. As of October 26, 2021, digital investment products had received $1.47 billion in digital asset inflows, with Bitcoin receiving the majority of the inflows, followed by altcoins from Solana, Cardano, and Binance. According to the survey, the percentage of advisors who included cryptocurrency in their clients' investment portfolios increased from 6.3 percent to 9.4 percent.

The $20 trillion middle market is expected to drive the crypto ETF niche.

The IOHK team, led by Charles Hoskinson, has been in Africa this month, meeting with entrepreneurs and politicians in an effort to advance the Cardano cause.&nbsp;
In doing so, Hoskinson and the team "dropped by" Ethiopia's Ministry of Education to check in on the student credential system, which was first mentioned in August.&nbsp;
"I stopped by the Ministry of Education today to talk about the digital transformation of Ethiopia's educational credentials." Five million students will be enrolled on time.&nbsp;
The credential system aimed to overhaul the academic records of 5 million students by storing information like attendance and grades on the blockchain in order to capture data and provide a digital identity system. &nbsp;
According to Hoskinson, this is the program's initial phase. Later on, the plan is to use it as a springboard to launch the country's national ID system. This would result in an increase in user numbers to 110 million.&nbsp;
&ldquo;It&rsquo;s our intention to compete amongst others for the whole national ID system, which is about 110 million people.&rdquo;&nbsp;
The Project Management Institute ranked Ethiopia's Cardano Atala Prism project as the 14th (out of 50) most influential project in 2021. (PMI).&nbsp;
&ldquo;As the largest blockchain deal ever signed by a government, the project is demonstrating how crypto assets can help drive positive socioeconomic change across Africa and beyond.&rdquo;&nbsp;
The PMI characterized the project as a difference maker with the opportunities to enhance Ethiopian students' educational outcomes.&nbsp;
According to IOHK's Director of African Operations, John O'Conner, there was initial governmental opposition to the project. However, the government has begun to recognize that digital identity and blockchain technology are not as disruptive as previously thought.&nbsp;
According to O'Conner, Atala Prism enables governments to meet their documentation obligations while also progressing toward further digitalization.&nbsp;

The IOHK team, led by Charles Hoskinson, has been in Africa this month, meeting with entrepreneurs and politicians in an effort to advance the Cardano cause. In doing so, Hoskinson and the team "dropped by" Ethiopia's Ministry of Education to check in on the student credential system, which was first mentioned in August.

Cardano (ADA) is well on its way to completing Ethiopia's "digital transformation."

The Australia Securities and Investments Commission (ASIC) has released its reaction to the public consultation on crypto exchange-traded products (ETPs), as well as new industry guidance.&nbsp;
Following months of industry consultation that began in late June, the regulator released a set of regulatory requirements for funds looking to offer crypto ETPs, including exchange-traded funds (ETFs) and structured products, on Oct. 29.&nbsp;
According to the official guidance, ASIC has so far approved ETPs based on major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), and it anticipates that more crypto assets will be used as a foundation for ETPs in the future:&nbsp;
The guidance states that in order to be a proper basis for a crypto ETF, crypto assets must have a high level of institutional support, a mature spot market, a regulated futures market, reputable and experienced service providers, and transparent pricing mechanisms.&nbsp;
Licensed exchanges must evaluate whether the issuer is capable of fulfilling its obligations in relation to the product, such as providing safe and secure custody and obtaining relevant licenses, for each crypto ETF product application.&nbsp;
The ASIC also stated in a response to public consultation that it does not require domestic crypto custody for entities issuing crypto ETFs, stating that such restrictions would unfairly limit competition.&nbsp;
"While we acknowledge respondents' worries about overseas-based possession of crypto assets, such as the potential for difficulties in recovering assets across jurisdictions," the document states, "we believe it would be inappropriate to mandate a domestic custodian requirement."&nbsp;
&nbsp;

The Australia Securities and Investments Commission (ASIC) has released its reaction to the public consultation on crypto exchange-traded products (ETPs), as well as new industry guidance.

The Australian Securities and Investment Commission has issued guidelines for crypto ETPs.

Following Facebook's rebranding announcement, several Metaverse-focused crypto projects have surged. On Thursday, the Big Tech behemoth announced a name change to "Meta," explaining that it will shift its focus from traditional social media to the creation of the Metaverse.&nbsp;
"Our mission remains the same; it's still about bringing people together," said Facebook CEO Mark Zukerberg during a 90-minute presentation on the company's future. "We are still the company that designs technology with people in mind." But we now have a new North Star: to assist in bringing the Metaverse to life."&nbsp;
While several projects have risen in response to the news, the virtual world Decentraland is currently leading the charge, with the game's MANA token increasing by more than 46% since the announcement.&nbsp;
Other Metaverse and NFT gaming projects have made significant progress as well. Axie Infinity, the play-to-earn blockchain game that swept the crypto space this summer, rose more than 17 percent before dipping slightly.&nbsp;
&nbsp;&nbsp;
Enjin, another NFT gaming project, has also seen a boost, increasing by more than 11%. Enjin is a play-to-earn gaming platform that allows users to mint in-game items on Ethereum and transfer them between games on the platform in what the company refers to as the "multiverse."&nbsp;
The Sandbox, a mobile Metaverse game in the style of Minecraft, has also benefited from Facebook's announcement. The SAND token in the game is up 23% today, extending its week-long rally.&nbsp;
The Metaverse is a future version of the Internet in which shared virtual spaces are linked together to form a perceived virtual universe in which users can meet, play games, and socialize.&nbsp;
According to Zuckerberg, the Metaverse will be the "successor of the mobile Internet," allowing users to create digital worlds using VR and augmented reality. As part of his announcement yesterday, he hinted that his company would support NFTs in the future. Earlier this week, the company announced a $10 billion investment in Metaverse construction this year.&nbsp;
&nbsp;

Following Facebook's rebranding announcement, several Metaverse-focused crypto projects have surged. On Thursday, the Big Tech behemoth announced a name change to "Meta," explaining that it will shift its focus from traditional social media to the creation of the Metaverse.

On Facebook's Rebrand News, Metaverse Tokens are skyrocketing.

According to the report, Li Ming, director of the blockchain research office at the China Electronics Standardization Institute, an agency under the Ministry of Industry and Information Technology, stated that the office is participating in the development of a national standard for blockchain technology, which is expected to be released next year. A standard, according to Li, is fundamental to an industry, and they must meet certain standards to connect to a network, just like WiFi and Bluetooth.&nbsp;
According to Li, it is necessary to investigate the technical, application, and industry aspects of the technology in order to determine the entities subject to standardization as well as the relevant range.&nbsp;
Li went on to say that the office will create an evaluation mechanism to help build an effective ecosystem based on the standard.&nbsp;
While China tries harder than ever to annihilate the cryptocurrency industry, national and provincial governments are looking for new ways to expand blockchain, the underlying technology.&nbsp;
Earlier in the month, the Central Cyberspace Affairs Commission and 17 other central agencies &mdash; including banking, education, prosecutorial, legal, health, energy, and foreign exchange authorities &mdash; issued a joint notice urging local government entities across different sectors to submit a request for blockchain pilot projects in order to discover more use instances for the new technology.&nbsp;
Meanwhile, China is beginning to transform its Blockchain-based Service Network (BSN), a public-private nationwide infrastructure project to spur mass adoption of blockchain technology, as well as what has seemed to be a soft relaunch of the country's digital currency, digital yuan, or e-CNY.&nbsp;

According to the report, Li Ming, director of the blockchain research office at the China Electronics Standardization Institute, an agency under the Ministry of Industry and Information Technology, stated that the office is participating in the development of a national standard for blockchain technology, which is expected to be released next year. A standard, according to Li, is fundamental to an industry, and they must meet certain standards to connect to a network, just like WiFi and Bluetooth.

China's national blockchain standard could be announced next year.

The nation's top banking regulators are working together to develop a framework that will allow banks and other financial institutions to hold cryptocurrencies.&nbsp;
The chairman of the FDIC has disclosed that regulators are &nbsp;cross-pollinating suggestions for a blueprint that will allow banks to offer crypto services to their customers. If the plan comes to fruition, it could make cryptocurrencies more accessible to a broader range of retail and institutional investors.&nbsp;
The nation's top banking regulators are working together to develop a framework that will allow banks and other financial institutions to hold cryptocurrencies. Since May, the FDIC, Federal Reserve, and Office of the Comptroller of the Currency have been working together to chart a clear path for the future of banks and cryptocurrencies.&nbsp;
"I believe we need to allow banks in this space while appropriately managing and mitigating risks," says FDIC Chairman Jelena McWilliams. "If we don't bring this activity inside the banks, it will grow outside of the banks." She went on to say that if cryptocurrencies are allowed to develop outside of banks, federal regulators will face a herculean task in reining in this asset class.&nbsp;
"My goal in this interagency group is to basically provide a path for banks to be able to act as custodians of these assets, using crypto assets and digital assets as some form of collateral," the FDIC chairman says.&nbsp;
"At some point, we'll look at how and under what conditions banks can keep them on their balance sheets."&nbsp;
Leading to the advent of the big regulators' collaboration, the Office of the Comptroller of the Currency took the bull by the horn and allowed banks to use stablecoins for transaction settlements.&nbsp;

The nation's top banking regulators are working together to develop a framework that will allow banks and other financial institutions to hold cryptocurrencies.

Banks in the United States are debating how to hold crypto assets, according to US regulators.

Raul Jordan, an Ethereum core developer, announced on October 27 that the Altair upgrade on the Beacon Chain had been successfully deployed.&nbsp;
Because the improvements were made in the background, Ethereum stakeholders did not need to take any action, but validators did need to pay attention. The Altair upgrade brings us one step closer to the full release of ETH 2.0, Phase 0, and the much-anticipated "merge."&nbsp;
&nbsp;
<blockquote class="twitter-tweet">
The first network upgrade on the Ethereum proof-of-stake chain, Altair, was successful! Really proud of the rockstar devs I get to learn from at <a href="https://twitter.com/prylabs?ref_src=twsrc%5Etfw">@prylabs</a> and everyone involved in Ethereum that made this happen. You can follow the block explorer here <a href="https://t.co/AvgfGaQ2tp">https://t.co/AvgfGaQ2tp</a>
&mdash; Raul Jordan (@rauljordaneth) <a href="https://twitter.com/rauljordaneth/status/1453321268862799878?ref_src=twsrc%5Etfw">October 27, 2021</a></blockquote>
The upgrade comes nearly a year after the Beacon Chain was activated and staking began. Preston Van Loon, an Ethereum client developer, commented:&nbsp;
&ldquo;Finality was uninterrupted and participation dropped as low as 93.3% in the first Altair epoch (exact number to be confirmed). Participation is now above 95%,&rdquo;&nbsp;
According to a previous this year Ethereum Foundation (EF) release, Altair is an upgrade that adds light client support, minor changes to incentives, and per-validator inactivity leak accounting. It also increases the severity of slashing and cleans up validator rewards to account for simplified state management. &nbsp;
The majority of its features are behind-the-scenes improvements that can now be implemented following 11 months of successful Beacon Chain operations. The EF has described it as a "warm-up upgrade" for the chain and clients.&nbsp;
Ethereum&rsquo;s proof-of-stake system has run quite smoothly since genesis, but before performing the high-stakes merge, client teams want to go through the process of a live upgrade to further test and ready their codebases and the live system.&rdquo;&nbsp;
There will be no major changes to the blockchain after Altair until "the merge," which is expected in Q1 or Q2 2022. The existing Ethereum 1.0 blockchain is docked with the ETH 2.0 chain at this point.&nbsp;
At the time of writing, the Beacon Chain had just over eight million ETH staked. This is worth around $32 billion at current prices.&nbsp;

Raul Jordan, an Ethereum core developer, announced on October 27 that the Altair upgrade on the Beacon Chain had been successfully deployed.

The Ethereum 2.0 Altair upgrade was a success.

Andreessen Horowitz crypto General Counsel Miles Jennings suggested in a series of Tweets that DAOs register as Unincorporated Nonprofit Associations (UNA). He explained the benefits of registering as UNAs for DAOs in a summary of the study conducted with fellow crypto legal expert David Kerr.&nbsp;
In exercise, DAOs govern blockchain-based societies such as decentralized exchanges (DEX). Despite their "potential to revolutionize how people organize, collaborate, and coordinate," Jennings laments that most DAOs are incongruent with US legal frameworks.&nbsp;
Traditional structures, such as corporations, partnerships, LLCs, and trusts, are ineffective for most DAOs due to their distinct attributes. These are primarily at odds with DAOs' emphasis on privacy, the lack of proper legal consent from members, and their overall emphasis on decentralization. As a result, they are exposed to liability and are unable to file tax returns, pay revenue taxes, or enter into legally binding contracts.&nbsp;
The crypto legal experts did, however, discover a potential solution in the form of UNAs. The Uniform Unincorporated Nonprofit Association Act (UUNAA) defines an unincorporated nonprofit association as "consisting of [two] or more members joined under an oral, written, or imputed agreement."&nbsp;
The Uniform Unincorporated Nonprofit Association Act (UUNAA) defines a DAO as "consisting of [two] or more members joined under an agreement that is oral, in a record, or implied from conduct, for one or more common, nonprofit purposes," according to Jennings.&nbsp;
UNAs have a simple formation process and flexible governance requirements, making them ideal for DAOs. In many states, UNAs are legal entities distinct from their members, capable of "determining and enforcing rights, duties, and liabilities in contract and tort," as well as opening bank accounts and owning property. Although many DAOs do not meet the definition of "non-profit," many do have the potential to do so.&nbsp;
In relation to real estate appreciation, ennings uses the example of a Homeowners Association. The fact that their actions may increase the value of members' real estate holdings does not imply that they are for-profit enterprises. Jennings contends that the same could be said of DAO governance tokens.&nbsp;
DAOs that register as UNAs may be able to provide their members with limited liability protections as well as the ability to pay taxes and enter into contracts with third parties. Furthermore, Jennings suggests that the US could enhance the benefits of DAOs by enacting "more flexible and permissive UNA statutes." This, he claims, has the potential to "establish the United States as the world's DAO capital."&nbsp;

Andreessen Horowitz crypto General Counsel Miles Jennings suggested in a series of Tweets that DAOs register as Unincorporated Nonprofit Associations (UNA). He explained the benefits of registering as UNAs for DAOs in a summary of the study conducted with fellow crypto legal expert David Kerr.