Blockchain technology is rapidly evolving, and new developments are being announced all the time. Here is a roundup of some of the latest news in the blockchain world, as of October 17, 2023:
Bank of America Says Regulation Is Key for Mainstream Adoption of Crypto
In a recent report, Bank of America said that regulation is key for the mainstream adoption of cryptocurrencies. The report noted that the lack of clear regulation is one of the biggest barriers to entry for institutional investors. However, the report also said that the regulatory landscape is evolving rapidly, and that there is a growing recognition of the potential benefits of cryptocurrencies.
Solana Foundation Joins Dubai's Crypto Centre
The Solana Foundation has announced that it is joining Dubai's Crypto Centre, a regulatory framework designed to support the development and adoption of blockchain technology and cryptocurrencies. The Solana Foundation will work with the Dubai Crypto Centre to develop educational programs and support startups building on the Solana blockchain.
Entre Launches on DeSo Blockchain as Web3 LinkedIn Competitor
Entre, a new social media platform for professionals, has launched on the DeSo blockchain. Entre describes itself as a "decentralized web3 LinkedIn competitor." Entre users can create profiles, share content, and connect with other professionals without having to worry about their data being controlled by a central authority.
Visa Will "Actively Contribute" to Web3 Development
Visa has announced that it will "actively contribute" to the development of web3, the next generation of the internet. Visa said that it is investing in web3 startups and developing new products and services for the web3 ecosystem.
ZELF Launches Anonymous Visa Debit Card with Crypto Top Up
US fintech firm ZELF has launched an anonymous Visa debit card with crypto top up. The ZELF card allows users to spend their cryptocurrency at any merchant that accepts Visa. ZELF does not require users to provide any personal information, and the card can be used without a bank account.
IDC Estimates $19 Billion Global Spending on Blockchain Solutions in 2024
A new update to the International Data Corporation's (IDC) Worldwide Blockchain Spending Guide estimates that global spending on blockchain solutions will reach $19 billion in 2024. The report noted that the financial services and manufacturing industries are the two biggest spenders on blockchain technology.
House of Lords Approve UK Crypto Bill
UK parliamentarians have taken a significant step towards regulating cryptocurrencies. The House of Lords has approved a new bill that would give the UK's financial regulator the power to oversee crypto exchanges and other crypto-related businesses. The bill is still expected to face some opposition in the House of Commons, but it is a positive sign that the UK is moving closer to regulating cryptocurrencies.
These are just a few of the latest developments in the blockchain world. As blockchain technology continues to mature and evolve, we can expect to see even more exciting news in the months and years to come.
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