Web3.0

Optimism Among Web3 Professionals

Tuesday. September 10 at 7:00 PM

1 min. read

Despite regulatory uncertainty ahead of the 2024 US presidential election, over 86% of Web3 professionals are optimistic about the industry's future, as per a Consensys report. The optimism stems from the belief that Web3 offers the potential for professionals to make a meaningful impact in the world. A significant portion of the workforce remains employed in Web3 due to the promising prospects of blockchain technology. Interestingly, most professionals prefer to receive a combination of fiat and cryptocurrency as their salary. The survey, conducted by YouGov, revealed that the Web3 workforce is predominantly global, with a majority identifying as digital nomads. This lifestyle aligns well with the industry's values of decentralization and autonomy, providing new opportunities and greater control over employment status for professionals in the field.

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Expansion of Transak's Crypto Services in the US

Thursday. October 3 at 7:30 PM

Transak, a provider of Web3 payments infrastructure, has obtained a Money Transmitter License (MTL) from the Alabama Securities Commission. This license allows Transak to conduct cryptocurrency transactions legally in Alabama, marking a significant milestone in the company's expansion into the United States. While Transak is now licensed to operate in 46 states, there are still some regulatory hurdles to overcome before it can cater to all US users. Obtaining state-level licenses is crucial for Transak to offer its services to US residents as a registered Money Service Business. The recent license acquisition aligns with Transak's commitment to complying with US financial regulations and ensuring the safety of all crypto transactions. By enhancing its services in Alabama, Transak aims to provide faster transactions and improved request fulfillment to residents. The company's focus on regulatory compliance reflects the increasing stringency of US market requirements, with the latest license enabling Transak to meet these demands and expand its offerings to decentralized applications in states like Alabama.

Web3.0

Evolution from Web 2.0 to Web 3.0

Wednesday. October 2 at 6:30 PM

The transition from Web 2.0 to Web 3.0 marks a significant shift in internet technology. While Web 2.0 focused on centralized data storage and control by big companies like Facebook and Google, Web 3.0 embraces decentralization through blockchain technology. This shift empowers users to own and control their data, enhancing privacy and security. Web 3.0 applications, built on distributed networks, eliminate the need for intermediaries, unlike Web 2.0 services. The use of smart contracts in Web 3.0 ensures automated transactions without intermediaries, enhancing security and transparency. By dispersing data across a blockchain network, Web 3.0 reduces the risk of cyberattacks compared to the centralized servers of Web 2.0. This evolution towards decentralization and user ownership signifies a paradigm shift towards a more secure and user-centric digital ecosystem.

Web3.0

Record-Breaking Token2049: Crypto Industry Converges in Singapore

Wednesday. October 2 at 1:30 PM

The 2024 edition of Token2049 in Singapore attracted 20,000 attendees to the main conference and over 800 side events, making it the world's largest Web3 and crypto conference. Key speakers included Vitalik Buterin, Anatoly Yakovenko, and Edward Snowden. Highlights featured the Solana Seeker cryptophone and BitGo's USDS stablecoin launch, along with appearances by Formula 1 drivers. Buterin emphasized the importance of mainstream adoption while maintaining decentralization values, suggesting the use of smart multisig wallets. Snowden criticized the arrest of Telegram's founder, advocating for apps without a central figure. Rapper Iggy Azalea discussed meme coins, highlighting their cultural significance. The event concluded with an official afterparty at Marina Bay Sands. The next Token2049 event in Dubai aims to provide an even more immersive experience for the crypto community in 2025.

Web3.0

Impact of Europe's MiCA Bill on Web3 Firms

Saturday. September 28 at 9:30 AM

Europe's forthcoming cryptocurrency regulatory framework, known as the Markets in Crypto-Assets (MiCA) bill, is anticipated to bring both positive and negative effects to the industry. While MiCA is hailed as a significant step towards legitimizing the crypto ecosystem, it also poses a threat of consolidation among crypto firms in the region. According to Anastasija Plotnikova, CEO of Fideum, the bill could lead to centralization concerns and potentially overpower smaller firms. The MiCA framework, set to be fully implemented by December 30, has already prompted large European financial institutions to prepare their digital asset offerings. This shift towards regulation may make the Web3 industry more similar to traditional finance, potentially hindering smaller firms with limited resources from scaling. Despite these challenges, major banks like Societe Generale are gearing up to comply with MiCA by launching MiCA-compliant stablecoins, signaling a significant transformation in the financial landscape.

Web3.0