BMW taps Coinweb and BNB chain for blockchain loyalty program
German car manufacturer BMW plans to integrate blockchain technology into its daily operations and create a blockchain loyalty program for its customers in Thailand. The popular carmaker has onboarded blockchain infrastructure firm Coinweb as its decentralized architecture provider and BNB Chain for settling transactions. The integration of blockchain technology into BMW’s workflow will take place […]
Algorand to support bank and insurance guarantees platform in Italy
Layer-1 blockchain platform Algorand has been chosen as the public blockchain to support an “innovative digital guarantees platform” to be used in Italy’s banking and insurance markets. The Algorand-supported platform is expected to be launched in early 2023. According to Algorand’s Dec. 13 announcement, this is the first time an EU Member State will use blockchain […]
Malta prepares to revise regulatory treatment of NFTs
The Malta Financial Services Authority (MFSA) is currently reviewing requests to revise the “regulatory treatment” of Non-Fungible Tokens (NFTs) within its Virtual Financial Assets Framework. Under the current regulatory framework, NFTs are included within the scope of the Virtual Financial Assets Act, which also includes virtual tokens, virtual financial assets, electronic money, and all financial […]
Aussie stock exchange abandons blockchain plans, leaving $170M hole
The long-anticipated plans by the Australian Securities Exchange (ASX) to use blockchain to bring its clearing and settlements system into the 21st century have just been canceled. In a Nov. 17 statement, ASX announced it had paused all current activities of its “CHESS replacement project” following an independent review from technology consulting firm Accenture, which […]
Nifty News: Royalty-enforcing NFTs a ‘new asset class,’ South Korea buys NFTs with CBDC, and more
Royalty enforcing NFTs to be a ‘new asset class’: Magic Eden CEO Jack Lu, the CEO of Solana-based nonfungible token (NFT) marketplace Magic Eden has floated the idea of NFTs designed to enforce royalties. Lu said in an address at Solana’s Breakpoint 2022 conference on Nov. 5 that these NFTs could “give rise to a […]
China floats idea of ‘Asian yuan’ to reduce reliance on US dollar
Researchers from a Chinese state-run think tank have floated the idea of an Asia-wide digital currency with the aim to reduce its reliance on a United States dollar-based economy. The views of researchers Liu Dongmin, Song Shuang, and Zhou Xuezhi from a unit of the Chinese Academy of Social Sciences (CASS) were published in an […]
Blockchain interoperability goes beyond moving data from point A to B — Axelar CEO Sergey Gorbunov
Cross-chain communication between blockchains is more than just moving data from point A to B, but how it can connect applications and users for enhanced experiences and fewer gas fees in Web3, outlined Sergey Gorbunov, Axelar Network co-founder and CEO, speaking to Cointelegraph’s business editor Sam Bourgi on Sept. 28 at Converge22 in San Francisco. […]