Will the Digital Yuan Become an International Staple in the Near Future?
宏观新闻 General News
How Artificial Intelligence Can Enhance Blockchain Platforms
“Projects involved in the space argue that decentralized apps have an opportunity to become far more advanced than they are now. Trading strategies could be informed by AI — and smart contracts could become infinitely more flexible. Blockchain platforms have the chance to offer a more convenient alternative to private keys — which can often be cumbersome to remember and store securely — with users gaining access to balances through facial recognition.
Together, AI and blockchain can also be leveraged in many other fields such as big data and IoT, insurance, manufacturing, healthcare, logistics, and many more. In all cases, AI plays an important role in processing data or automating human tasks to feed information into blockchain.
As the EU Blockchain Forum noted in a recent report, combining these two technologies isn’t just desirable… it is a necessity.”
The authors wrote:
“In the real world, especially in large-scale use cases, blockchain, AI and IoT are likely to work in concert. In a smart city, blockchain could be combined with IoT and AI on an infrastructure level to manage critical systems that cities depend upon, as well as improve quality of life for residents through safer and better designed urban environments.”
专业发展 Enterprise Development
Crypto Exchange FTX Launches NFT Marketplace
Crypto exchange FTX has launched a marketplace for non-fungible tokens (NFTs), with numerous NFTs already listed!
The marketplace is hosted on two websites: the main FTX exchange and the FTX.US exchange. Users of the marketplace will be able to buy, sell, and hold NFTs, with a 5% fee charged to both buyers and sellers. It appears that the tokens are based on Solana and Ethereum, and it is expected that users will be able to withdraw tokens to their personal wallets soon.
FTX is not the first to have done so, as other crypto exchanges such as WazirX and Korbit have also launched their own NFT platforms.
专业分析 Specialist Analysis
Study Shows NFT Sales Plummeted 90% Over the Last 30 Days, NFT Wallets Dip 70%
“Non-fungible tokens (NFTs) have been all the rage in 2021 and sales continue to this day. However, a recent study published by protos.com indicates that NFT sales have been dropping and NFT sale values have plummeted as well. The report shows that last month $102 million in NFTs were sold on May 3 and the latest seven-day data shows only ‘$19.4 million in NFT sales were processed in the past week.’
The protos.com study shows the NFT ecosystem saw a 90% drop from the May 3 high and only a few projects are continuing to sell. The study also shows that the number of active NFT wallets has slid from 12,000 per day to 3,900, which is a loss of close to 70%.”
大咖链语 Important Figures in Blockchain
Digital Yuan Will Be More Competitive Than Digital Dollar, says Bridgewater’s Ray Dalio
“Ray Dalio, a billionaire investor and the founder of the world’s largest hedge fund Bridgewater Associates, has said that the digital yuan will be more competitive than the digital dollar.
The digital yuan, on the other hand, will be more competitive in terms of pricing and return, said Dalio. It will be “a very viable alternative” to many investors if it is accepted internationally and comes with attractive interest rates, he said.
Currently, the dollar is the world’s largest reserve currency with a share of nearly 60%, according to data from the International Monetary Fund (IMF). China’s yuan currently has a share of about 2%, behind the euro, Japanese yen, and British pound, per the IMF data. But Dalio expects the yuan share to increase to around 10% to 15% in five to 10 years’ time.”
法律监管 Policy & Regulations
UK FCA buys another 9 months to review crypto companies’ registrations
“The United Kingdom’s Financial Conduct Authority (FCA) has extended the end date of crypto-asset companies’ temporary registration from July 2021 to March 2022.
The Temporary Registrations Regime, or TRR, was established last year to enable crypto businesses to continue trading while their registrations were still being assessed by the FCA. With the latest announcement, any crypto companies that applied before Dec. 16, 2020 have temporary registration until March 31, 2022.
According to the announcement, an ‘unprecedented number of businesses’ withdrew their applications due to their substandard operations regarding their money laundering regulations.”
“The extended date allows cryptoasset firms to continue to carry on business while the FCA continues with its robust assessment,” the announcement reads.
