“QR codes are a fad,” read the headline of an article published in Fall 2012. A few years later, the overhyped technology was included in a list of “Biggest Tech Fads of the Last Decade.” But then COVID happened, and now QR codes are widely used. The use cases were already there, but the need for social distance and everyone having internet-enabled smartphones combined to create the conditions for widespread use. Today, blockchain technology needs its own “Covid” moment.PwC projected that in 2020, nearly every business would adopt blockchain 2025, boosting global GDP by US$1.76 trillion by 2030. Many analysts made similar predictions beginning around 2017. Yet today, blockchain products are not nearly as used as predicted. For a technology product to be widely used, it needs:people changing their behaviors,reasons for businesses to use it, andappropriate tools to produce or consume it (aka, infrastructure).As governments introduce digital identities and currencies, people will inevitably get used to blockchain products like digital wallets. Tackling climate change or automating business processes are reasons businesses use it. This article argues that one of the final pieces for PwC’s trillion-dollar prediction to materialize will be infrastructure products like Gora that connect blockchain smart contracts to real-world data.What are smart contracts?Blockchains are immutable, add-only databases where many independent parties maintain an identical copy of the database.Each record in the database can include data like a digital asset, such as Bitcoin or a digital Euro, a credential like a driver’s license, or lines of code. The records containing code (smart contracts) are executed in response to an event.For example, if a customer with a flight delay insurance smart contract asks to claim their payout, a smart contract would first check if the flight in question is delayed past the agreed threshold. If so, it would initiate a transaction to transfer the agreed payout amount to the customer. But since smart contracts don’t have access to real-world data, such as flight departure times, it need specialized software to provide this information. This specialized software is known as Oracles.When someone wants to send a transaction or present their digital credentials, they must sign it with a ‘private key.’ A private key is like a hard-to-remember phrase to create a practically impossible-to-forge signature. This ensures that only the person accessing the private key could have interacted with the record.Changing People’s BehaviorsFor blockchain to be widely adopted, people should be comfortable managing their digital keys. Digital wallets make this easy by abstracting away the private key and providing mechanisms to recover lost keys. Many countries in Europe and worldwide have already begun rolling out digital identity products and digital currencies.Once people are more knowledgeable about storing their own digital identities, owning their own data, such as their web browsing habits, will begin to make sense. Data ownership has great benefits, such as preserving privacy and increasing consumer bargaining power. Products like Gora will be necessary to get that data onto the blockchain.Blockchains are currently well suited for financial and identity products, like transferring digital assets or issuing and verifying credentials. However, blockchains can help tackle some of the world’s biggest problems, such as climate change.Around 50,000 businesses in the EU will need to begin reporting verifiable data on their emissions starting in 2024. To comply, businesses can use IoT devices and sensors to collect real-time emission data. They can use software like Gora to create verifiable records of this gathered information on a blockchain.Blockchains can also give consumers more bargaining power and privacy. Europe and North America are expected to reach 84.5 million telematic insurance policies by year-end 2025. Telematic insurance is where insurance companies price policies based on a driver’s behavior, as measured by the sensors in their cars. The problem here is that it: provides an insurer with way too much information, such as where you go and when, and the data is kept with one insurer; you might have to build a driving profile again if you switch.Only 25% of drivers are willing to use the technology if it would save them money. Software like Gora can take sensor data from vehicles, parse the needed information while keeping it private, and store only the insights on a blockchain (i.e., whether the driver is a good driver or not). This gives ownership of a user’s driving history to the driver, which protects their privacy and allows them to use the data with any provider. This could make the number of telematic insurance policies much higher than 84.5 million.There are several more examples of billion-dollar industries, such as crop monitoring or cold chain verification, that blockchain products could improve. The common theme between all these use cases is the need for sophisticated software like Gora to connect real-world sensors to smart contracts.Are smart contracts necessary?Businesses already have software doing much of the above, so, are blockchain and smart contracts necessary? A regular database is enough if the data is for internal use, like how much of something is in stock. Blockchain is also unnecessary if data can only be verified through traditional audits, such as public financial statements. Blockchain products can be a perfect tool when organizations need greater trust in the accuracy of the data they share externally from a verifiable source.Policymakers struggle to create policies that protect consumers and the planet, without affecting companies’ profitability. 64% of German CEOs did not believe governments’ regulations have “increased consumer trust while maintaining business competitiveness.”VW has sophisticated reporting hardware and software in their vehicles, yet they still lie about how much nitrous oxide their vehicles emit. If sensors reported the emissions to the blockchain while the vehicles were in use, VW would have likely avoided the deception altogether.Policies around data protection in the EU have media companies there facing an existential dilemma:make users pay for their service or show non-targeted ads.The former makes most users stop using the service, while the latter significantly reduces operating revenues. Many Companies, like Meta (formerly Facebook), are getting around this by offering consumers the option to either pay a monthly fee or accept personalized ads.Accepting ads means the collection of a lot of personal information. But the European Center for Digital Rights says this is wrong and has lodged complaints against several media companies. But there can be another option – using products like Gora to anonymize a user’s data and give marketers only the topics they want to see ads about.Infrastructure is falling shortSoftware that connects smart contracts to real-world data is expensive to build. It needs to be as secure as blockchains but handle much more data and computations than they can. This requires hiring people skilled in cryptography and distributed systems engineering and spending months, if not years, in development. Instead, businesses can purchase existing solutions that are more than ten times cheaper and faster than building their own.However, businesses find the current products too specialized for their needs. The majority of products either only provide financial data (e.g., currency exchange rates) or need so much customizations that the business may as well develop their product. Gora focuses on enterprise needs by: exposing APIs for businesses to integrate their data sources with, providing an App Marketplace for businesses to find already-developed products and allowing for custom and private networks with controls on who can access data.Blockchain products should integrate into a business’s current software systems rather than replace them. Gora provides a marketplace for developers with industry-specific knowledge to sell premade products, such as insurance or emissions monitoring apps that integrate with companies’ ERP systems. Finally, Gora allows enterprises to self-host private networks while accessing personalized, on-demand support.ConclusionAdopting any technology is like a triangle, with behavior, use cases, and infrastructure as the three connecting lines. In the QR code example, the use cases were there, but it was not until the infrastructure and people’s behavior changed that it became widely used.With blockchain, the use cases are clear, and digital identity will likely be the use case that brings about behavioral changes (i.e., managing digital keys). Software that connects real-world data to blockchain, such as Gora, is one of the key pieces remaining for blockchain to become widely adopted by organizations.#QR #learnwithDLabs

Stepping into 2024, the dynamic world of cryptocurrencies continues to evolve, presenting a variety of altcoins that hold promise beyond the dominant Bitcoin. These digital assets, each with unique functionalities and potential use cases, offer a spectrum of opportunities for those interested in the crypto market. Here are ten altcoins that merit attention in 2024, each offering distinct features and developments that could shape their trajectory in the ever-changing landscape of cryptocurrency.Ethereum (ETH):Ethereum continues to be a central figure in the crypto world, primarily due to its platform’s ability to host decentralised applications and smart contracts. Its transition to Ethereum 2.0, aiming for increased efficiency and scalability, could further solidify its position. Ethereum’s potential in various sectors, from finance to gaming, makes it a key altcoin to watch.Cardano (ADA):Cardano is recognised for its scientific approach and strong focus on sustainability and scalability. Its proof-of-stake mechanism positions it as an energy-efficient alternative to traditional cryptocurrencies. With ongoing developments aimed at enhancing its ecosystem, Cardano could see increased adoption and utility.XRP (XRP):XRP stands out for its fast and cost-effective cross-border transaction capabilities. Its backing by Ripple Labs and recent legal victories add to its credibility. XRP’s growing adoption in the payment processing sector makes it a noteworthy contender.Binance Coin (BNB):As the native token of one of the world’s largest cryptocurrency exchanges, Binance Coin has a vast range of applications, from trading fee discounts to payment processing. Its continuous burning mechanism, which reduces supply and potentially increases value, makes BNB an interesting altcoin.Solana (SOL):Known for its high throughput and low transaction costs, Solana offers an efficient platform for decentralised applications. Its unique hybrid consensus mechanism contributes to its scalability, making it an attractive platform for developers and investors alike.Dogecoin (DOGE):Initially started as a meme, Dogecoin has garnered a massive community and notable attention from influential figures. Its growing use in transactions and payments, coupled with its cultural impact, keeps DOGE in the spotlight.Akash Network (AKT):As AI continues to influence the crypto narrative, Akash Network’s focus on decentralised cloud computing aligns with current tech trends. Its substantial growth in 2023 positions AKT as a potential leader in the AI-driven crypto space.Render (RNDR):Render’s role in the emerging field of decentralised graphics rendering, integral to AI and virtual reality applications, marks it as an innovative player in the altcoin market. Its impressive performance in 2023 suggests a bright future.Immutable X (IMX):With its focus on NFTs and blockchain gaming, Immutable X taps into the burgeoning GameFi sector. Its solution for scalable and gas-free transactions on Ethereum makes IMX a key asset in the evolving gaming and digital collectibles space.Ronin (RON):As the blockchain behind the popular game Axie Infinity, Ronin’s success in the GameFi arena is notable. Its ability to handle high transaction volumes at lower costs positions it as a promising platform for blockchain gaming.Crypto expert Michaël van de Poppe explained in a tweet that understanding market trends is crucial for crypto enthusiasts. He emphasises the need for critical thinking in investment choices, especially in a market driven by hype and sentiment cycles. These altcoins are diverse and innovative directions the market could take in 2024. However, as with any investment, it’s essential to conduct thorough research and consider market risks before making decisions.#learnwithDLabs #Decryptedlabs #BTC #etf Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this post/article includes personal opinions. Readers are encouraged to do thorough research before making any investment decisions. Decrypted Labs is not responsible for any financial losses.

The onset of 2024 has presented unexpected challenges for Ripple (XRP) as it reached a three-year price low against Bitcoin on Jan. 3. This sudden decline was instigated by a widespread sell-off prompted by speculations surrounding the potential rejection of spot Bitcoin exchange-traded funds by the US Securities and Exchange Commission (SEC). The resulting turmoil in the market caught traders by surprise, leading to the disturbance of trading portfolios and the elimination of the previously steady accumulation phase that XRP had been undergoing.Recent Performance of XRPOn Jan. 4, XRP showed signs of a modest recovery, recording a gain of 0.88%. This partial reversal followed a 6.68% decline on Jan. 3, culminating in XRP closing the day at $0.5879. The crypto market is on high alert, closely monitoring XRP’s movements in light of the continually evolving regulatory landscape.XRP Price Projection for January 2024Analyzing the price fluctuations of Ripple XRP from the beginning of 2023, crypto experts have formulated a price forecast for January 2024. The anticipated average rate is expected to hover around $0.688. Additionally, the forecasted range of $0.583 as the minimum, and $0.792 as the maximum is also set. However, these projections are made against a backdrop of heightened uncertainty, considering the recent market volatility.Weekend Price AnticipationTaking a specific look at the approaching weekend, Changelly, a renowned crypto exchange platform, presents an optimistic outlook for XRP. The altcoin is predicted to undergo a bullish turnaround, surging by 5% on January 6, reaching a peak of $0.619769. This upward trajectory is expected to extend into Jan. 7, with a substantial 21% increase that would propel XRP to a high of $0.714077.Additionally, the weekend price prediction comes at a crucial juncture for XRP. The asset has been contending with regulatory challenges, including an ongoing lawsuit by the SEC. The market sentiment impacted by Ripple’s legal battles has contributed to the recent price volatility. This further underscores the importance of maintaining vigilance in the face of regulatory uncertainties.Caution for InvestorsInvestors and traders are cautioned to approach XRP with care, given the unpredictable nature of the crypto market. This is particularly true during periods of regulatory ambiguity. The weekend surge projected by Changelly might provide temporary relief. However, sustained stability is likely contingent on regulatory developments and broader market conditions.As the altcoin braces for a weekend marked by expected price fluctuations, the cryptocurrency market remains on edge amid regulatory uncertainties. The recent market turbulence emphasizes the need for investors to stay informed and exercise caution. While short-term predictions hint at a bullish turn for XRP, the broader outlook hinges on regulatory developments and the industry’s adaptability to the evolving crypto landscape.#learnwithDLabs #Decryptedlabs #Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this post/article includes personal opinions. Readers are encouraged to do thorough research before making any investment decisions. Decrypted Labs is not responsible for any financial losses.

Because many people asked for it, i decided to build a list of the best #gaming gems to buy & HODL for the bullrun!Let’s get it started:1: $ARCADE @ArcadeFi_ With ArcadeFi, you can play their online games or host your own. I’m extremely bullish on this project and they have alot of BIG updates coming up, which is why i think this is an easy 200x to 500x in the bullrun. Market cap is currently under 1m. 2: $DGI @DgiGameA pioneering project in the gaming guild space. Team focus is giving the rewards back to the token holders. The Guild DGG owns and operates millions of dollars in gaming assets, including a significant stake in the Big Time Game. Easy 30-40x in the bullrun. 3: $NAKA @NakamotoGamesNakamoto Games is a play-to-earn gaming platform offering multiple fun and addictive crypto games. The platform will bring massive earning opportunities to both gamers and non-gamers as we expect crypto gaming will continue to grow. Easy 20-30x.4: $MYRIA @MyriaMyria is an Ethereum Layer 2 scaling solution, purpose built to scale NFTs, blockchain gaming and more. Myria's scaling solution, built in partnership with StarkWare, offers instant trade confirmation, 0 gas fee when minting and trading NFTs without compromising the security of users' assets. Easy 20-30x. 5: $MAVIA @MaviaGameHeroes of Mavia is a mobile free-to-play Web3 MMO Strategy game developed by Skrice Studios. The game takes place in a fantasy-themed island called Mavia, where players build bases on plots of land and battle neighboring bases and armies to earn in-game resources, such as Gold, Oil and Ruby. Easy 10-15x. 6: $ALU @AlturaNFT Altura's API and SDKs allow you to create, update, and transfer NFTs in-game without technical complexity or costly investment. Easy 20-30x. 7: $GSWIFT @GameSwift_io GameSwift is a modular blockchain network comprising the gaming-optimized Layer 1 and zkEVM rollups designed on demand for specific games. By leveraging zkEVM, developers can reduce gas costs, optimize contract execution speed, and enable confidential computation. Easy 15-20x. 8: $RON @Ronin Network Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Easy 10x. That’s it, i hope you guys liked it.#Decryptedlabs #learnwithDLabs #TrendingTopic