Kraken Becomes First US Crypto Bank / Mastercard Enabling CBDCs / Apple Pushing Back On DApps / Rise Of Social Tokens, NFTs, & Etherum 2.0
September 18, 2020
After a short break and releasing a ton of new research (see below), I’m back to our regularly scheduled programming! There is a ton to cover this week and we know this industry never sleeps so let’s dive right in.
Kicking us off, The State of Wyoming has awarded crypto exchange Kraken a license to create a crypto bank (Kraken Financial) in the state, making it the first US crypto exchange to create a bank. Brooklyn Nets point guard Spencer Dinwiddie announces Calaxy, short for “creator galaxy” a blockchain-enabled platform for community engagement between a new generation of influencers & creators launching this fall. Mastercard releases a new platform providing central banks a virtual testing environment to simulate the issuance, distribution, and exchange, and daily use of central bank digital currencies (CBDCs). BNP Paribas Securities is now creating DLT apps for ASX, HKEX with Digital Asset. Apple is accused of anti-competitive behavior against Ethereum DApps. Binance & Santander both launch new +$100 Million investment funds focused on investing in the future of finance. We take a look at the Metaverse from economics to new funding methods to social/personal tokens, digital art selling north of six-figures to NFTs. Turner Sports has launched a blockchain-supported gaming community in which users can create, train, and even trade digital athletes, called Blockletes. I sat down with Joseph Lubin, founder of ConsenSys for the latest Ethereum 2.0 updates, DeFi, & ConsenSys Quorum’s future with Enterprise. CB Insights acquires Blockdata to build out blockchain data offerings. Plus a ton more around industry research, releases, DApps, oracles and so much more! Enjoy!!
The state of Wyoming awarded crypto exchange Kraken a license to create a crypto bank in the state, which it is tentatively calling Kraken Financial. This makes Kraken the first US crypto exchange to create a bank. Specifically, a “Special Purpose Depository Institution,” which means that Kraken can hold custody over digital assets, operate payment systems and allow customers to easily switch between fiat and crypto. Kraken Financial’s customers, currently limited to US residents — and no New Yorkers — could pay bills and receive salaries in cryptocurrency, as well as hold cryptocurrency with the bank, once the bank launches…read more — Decrypt
🏀 Brooklyn Nets’ Spencer Dinwiddie Is Launching Calaxy, A Blockchain-Based App For Influencers
Brooklyn Nets point guard Spencer Dinwiddie, launching a blockchain-backed digital token in March was only the beginning of a more ambitious plan to use blockchain to launch a platform for community engagement around a new generation of influencers and creators. Dinwiddie and his team have created Calaxy, short for “creator galaxy,” a mobile app expected to go live in late October. On the app, creators and influencers will be able to sell digital blockchain-backed tokens integrated with digital contract company ChainLink…read more
Ethereum 2.0 is coming this year, and while enterprises won’t use it immediately, the rise of DeFi will play a significant role in organizations. While speculation around the exact release date remains, ethereum co-founder and founder of software company ConsenSys, Joseph Lubin, revealed in a recent interview that Ethereum 2.0 would indeed arrive soon: “Ethereum 2.0 is coming. We are now in the middle of what we believe to be the final testnet. We had many smooth operations on the testnet among many Ethereum 2.0 clients built by different teams.”…read more — Rachel Wolfson
🚨 📝 State of Blockchain Industry: Q3 2020
We are transitioning to a completely digitized economy and the activity in the blockchain industry during 2020 proves this more than ever. Now w/ 1,100+ companies building & funding ($30bn+!) the infrastructure layers that will make up this new economy. The full breakdown is now available including an in-depth overview of the landscape, new categories & business models, areas of opportunities, rising categories, use-cases, and view for the remainder of 2020 into 2021.
Payments giant Mastercard has released a platform that allows central banks to test central bank digital currencies (CBDCs). The virtual testing environment launched by MasterCard can simulate issuance, distribution, and exchange of CBDCs between banks and financial service providers and end-consumers purchasing everyday goods and services. The new protocol would help financial institutions understand the feasibility of CBDCs and allow them to explore new use cases, including issuance at a local or regional level. They can further evaluate compatibilities with existing payment rails such as payment cards…read more
👀 The Rise Of Social Tokens & NFTs Booming 🖼️:
Throughout these weekly posts, I like to call attention to categories within the broader Blockchain landscape that you need to be keeping an eye on. It began with decentralized applications (DApps) and finance (DeFi), then CBDCs, and China’s blockchain efforts, along with many others over the past months. Now it’s time to showcase two areas that are beginning to have a significant impact on our future digital selves — Social/Personal Tokens & NTFs/Digital Collectibles & Art.
The social token movement has more than just begun here in 2020, as the efforts being made have shown us a glimpse of our future in the way we interact and engage with our communities — regardless of size, geography, or platforms (go decentralization!). When combined with more personalized tokens we begin to witness a shifting paradigm in not only continuous income stream but also the widening opportunities of our individual (& not so far away) micro-economies driven by our digital selves. For many, this may seem like a far-out concept, when in fact we’re much closer than you may think. We’ll be covering this morning over the next few months, until then check out some great experts and voices in the category below.
Next week…NTFs/Digital Collectibles & Art and how they relate.
More For Your Week:
DApps (Decentralized Apps) Watch
Brian Armstrong, the co-founder, and CEO of Coinbase, has accused Apple of anti-competitive behavior against Ethereum DApps. Armstrong says: Here is the issue. Apple has told us we cannot add the following functionality in our iOS apps: (1) the ability to earn money using cryptocurrency and (2) the ability to access decentralized finance apps (sometimes called DeFi apps or DApps). We’ve tried discussing this through regular channels with Apple, and I reached out directly to leadership to request a dialog, but we seem to be at a dead-end…read more
📖 Will Chainlink’s Integration With E&Y And Microsoft Backed Baseline Make Ethereum Enterprise Ready?
The team behind the Baseline Protocol — enterprise-focused blockchain projects pioneered by EY, Microsoft, ConsenSys, and others that use the public Ethereum blockchain- has announced support for integration with decentralized oracle provider Chainlink. The announcement represents a significant milestone for both the baseline protocol and Chainlink as they both attempt to make inroads into the enterprise adoption of a public blockchain…read more
According to the Q2 high-risk DApps ecosystem report, TRON accounts for 94% of daily activity in the high-risk category across all protocols. DappRadar has shown a high-risk DApps category since early inception. Over 900 DApps listed on DappRadar are within the high-risk category, making it the 2nd most popular category after Gambling. Fundamentally High-Risk DApps are high-yield investment programs that promise a high return on investments, but these are usually not sustainable…read more
📺 Knowledge Drop #VCTV:
This week I sat down with investors to speak about the latest activity and investments happening throughout the Blockchain & FinTech landscapes on VCTV. Enjoy!
🎙️ Research: State of the DApps 2020:
Available now, for free is my latest research on Decentralized Applications or DApp “Stack” Landscape Map — the Q2 2020 edition. This map provides a full overview and taxonomy of the emerging DApps industry highlighting over 400 global companies teaching playing a vital role in building next-generation applications. As a bonus, I’ve included some of the ecosystem players and groups you need to be familiar with as you prepare to release your applications. If this is the first version you’ve seen of the landscape, consider it your guiding roadmap to further understanding not only the industry but all the core technology required to build a full or partial Decentralized Application (DApp).
📣 Want to stay up-to-date with all the headlines, investments, in-depth research, and latest landscapes on the Blockchain, DApps, DeFi, and FinTech industries? Subscribe and follow me on Twitter for weekly updates and more!
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