PayPal withdraws from Libra / IKEA invoicing using Ethereum / NBA’s Sacramento Kings and Blockparty Reward Fans
October 9, 2019
We’re kicking off this week’s edition with the release of the Q3 2019 edition of the Blockchain for Infrastructure landscape map. But fear not, we have all the recent happening, education, and movements throughout Blockchain, DLT, and DApps as well.
IKEA starts us off strong as they begin allowing invoices to be paid via Ethereum. Libra is going through all sorts of changes beginning with its recent project updates, followed by Paypal making headlines withdrawing from the Libra Association, then a permissionless version called OpenLibra launches — all in the same week! The NBA’s Sacramento Kings push ahead further implement blockchain into their fan experience with a Blockparty partnership. As the week rounds out Binance announces their support for WeChat & Alipay for buying bitcoin in China. UNICEF launches the UNICEF Crypto Fund. If that wasn’t enough we dive deep into the future of proof-of-stake (PoS), Blockchain Compute, Dapper Labs’ Flow, the Invisible Protocol Thesis and we crammed in plenty of research along with insights on infrastructure, DApps, Bitcoin, Economics, and Stablecoins. For MORE and to keep you up to speed, here’s a snapshot of the top stories this week around the industry.
📖 IKEA just allowed an invoice to be paid via the Ethereum blockchain
Nordic retail giants IKEA accepted payment in digital currency using the ethereum blockchain to settle a transaction with Nordic Store, a local retailer, at its Reykjavik, Iceland branch. IKEA‘s foray into Ethereum is possible due to a landmark regulatory decision that allows Monerium to issue digital fiat for use within the European Economic Area…read more
📖 PayPal withdraws support for Facebook’s Libra cryptocurrency
PayPal has withdrawn from the Libra Association formed in June 2019 to oversee the cryptocurrency’s creation and eventual consumer rollout. The company did not provide a reason to The Verge but stated that it has decided to forgo further participation in the Libra Association at this moment and wants to continue to focus on existing business priorities. Further, Facebook Blockchain chief David Marcus stated in a statement in which he opposed PayPal for not having the fortitude to stick with something as complicated and demanding as Libra…read more
📖 New Libra Fork Will Create Permissionless Stablecoin Free of Corporate Control
Thirty different blockchain companies and nonprofit organizations plan to fork the Facebook-led Libra crypto project to build their own permissionless version, dubbed OpenLibra. Announced at the Ethereum developer conference Devcon by Lucas Geiger, co-founder of blockchain infrastructure startup Wireline, OpenLibra will function as a stablecoin pegged to the actual Libra cryptocurrency. Libra is currently scheduled to go live late next year.…read more
📖 Spring Labs Wins Deal to Follow Energy Loans Using Blockchain
US-based blockchain startup Spring Labs has announced it will create a registry to track liens in the $5.6 billion energy-efficiency loan market to cut fraud and improve lending. Ygrene Energy Fund California LLC and three other lenders under the PACE program are also participating in the system, which is set to begin in the first quarter of 2020…read more
📖 IUS Lawmakers Ask Fed to Consider Developing ‘National Digital Currency’
In a letter sent to Federal Reserve Chairman Jerome Powell, Rep. French Hill (R-Ark.) and Rep. Bill Foster (D-Ill.) are outlining concerns about risks to the U.S. dollar if another country or private company creates a widely used cryptocurrency, and asking the Federal Reserve to create ‘National Digital Currency’ of it own. The letter also details how the Fed has the right to create and manage U.S. currency policy…read more
📖 The 7 Biggest Technology Trends In 2020 Everyone Must Get Ready For Now
Bernard Marr of Forbes highlights the seven biggest technology trends for 2020 that will continue to drive the fourth industrial revolution — understanding that the key trends will allow businesses to prepare and grasp the opportunities…read more
📖 NBA’s Sacramento Kings to Reward Loyal Fans With Crypto Tokens
NBA’s Sacramento Kings, in partnership with Blockparty, a blockchain platform for live event ticketing, announced the rollout of their new ‘Kings Token’ for fan rewards. The Kings are also planning to put in the new reward program to the NBA’s first predictive gaming app known as “Call the Shot,” in time for the upcoming 2019–20 season…read more
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📖 Axon boosts encryption, weighs blockchain to tackle body-cam ‘deepfakes’
Axon Enterprise Inc. began shipping the Body 3 camera last week. It introduces additional security by rendering captured footage inaccessible for playback, download, or edit by default without a form of authentication such as a password. It also attaches a secure digital signature to videos to help track their provenance. The company claims that it also resolved the previous battery life and convenience issues…read more
📖 Binance to support WeChat and Alipay for buying bitcoin in China
Cryptocurrency exchange Binance is set to add two more channels to its fiat gateway — WeChat and Alipay, allowing users in China to buy bitcoin (BTC) with the two payment options. Binance CEO Changpeng Zhao “CZ” confirmed the move on Twitter on Wednesday. People familiar with the matter told The Block that the initiative is currently in a testing phase for Android users and will eventually be fully rolled out on iOS and Web.…read more
📖 $6 Billion United Nations Agency Launches Bitcoin, Ethereum Crypto Fund
After 14 months’ work at the imposing United Nations Plaza in New York, Christina Lomazzo and her international team, today announced the UNICEF Crypto Fund, a prototype that lets the agency accept bitcoin and ether donations and invest them directly into blockchain startups. In addition to investing cryptocurrency into early stage, open-source companies working with children, the fund represents the first time any UN agency, much less one that generated $6.7 billion revenue last year, will be able to accept bitcoin and ethereum donations. The prototype launched today (October 8th) with a donation of 1 bitcoin and 10,000 ether from the Switzerland-based Ethereum Foundation has already signed agreements with agencies from four nations, UNICEF USA, UNICEF France, UNICEF Australia, and UNICEF New Zealand to start accepting cryptocurrency donations immediately.…read more and the full UNICEF release here.
DApps (Decentralized Apps) Watch
📖 Layers (not eras) of blockchain computing
Jesse Walden of Andreessen Horowitz Crypto (a16zcrypto) shares a new model of thinking about the blockchain ecosystem — rather than distinct eras, suggests a better framing based on layers of Blockchain Computing. The model highlights how diverse architectures lead to specialization and a more dynamic, valuable stack…read more and be sure to check out more from Jesse Walden
📖 The Invisible Protocol Thesis: Tomorrow’s Crypto Unicorns
According to Outlier Venture, the Crypto cycle that followed the expansion of financial value in a handful of assets such as BTC and ETH has largely been based on speculation, further fuelled by the innovation of the ERC-20 tokens. Additionally, Hyperledger has scaled horizontally with parallel ledgers helping to grow capacity within the network, whereas others such as ethereum, Blockstack, Corda (The Corda Team), and Hashgraph (Hedera Hashgraph Team) are scaling vertically.…read more and be sure to check out more from Outlier Ventures
📖 Open Worlds on Flow
Within games and entertainment, non-fungible tokens (NFTs) are the most interesting building block to date in terms of business models. Just like any token or cryptocurrency, NFTs can have their scarcity, ownership, and provenance secured on the blockchain. They can be traded globally using decentralized exchanges, and any developer can build functionality for them without taking platform risk. However unlike any cryptocurrency, NFTs can be individually unique, each a special, indivisible, snowflake.…read more and be sure to check out more from Roham Gharegozlou & Dapper Labs
📖 China Merchants Bank International (CMBI) Partners with Nervos to Develop Decentralized Financial Services
Layered blockchain Nervos Network has announced a partnership with China Merchants Bank International (CMBI) to jointly develop decentralized applications for financial services, some of which will serve the bank’s retail customers. CMBI will help Nervos grow its blockchain network within the financial services industry and act as a strategic ecosystem partner.…read more
📖 From Cardano to Ethereum, 2020 Could Be Deciding Year for Proof-of-Stake
2020 will be the year proof-of-stake (PoS) blockchains finally break out. Maybe. Two of the industry’s most hotly anticipated PoS networks are scheduled to (re)launch in Q1 — namely ethereum and Cardano Foundation. The second-largest blockchain platform in the world by market capitalization, ethereum has been looking to shift to PoS since 2014. Co-founder Vitalik Buterin sees PoS as key to ethereum reaching maturity. “Ethereum 1.0 is a couple of people’s scrappy attempt to build the world computer; Ethereum 2.0 [with PoS] will actually be the world computer…read more
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PayPal withdraws from Libra / IKEA invoicing using Ethereum / NBA’s Sacramento Kings and… was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.