Crypto Biz: DID you see what Africa is doing with Web3?

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If you’ve spent immoderate clip speechmaking astir blockchain and Web3, you cognize that this manufacture is filled with large buzzwords and half-baked concepts. But, concepts specified arsenic decentralized individuality services, oregon DIDs, bring existent meaning and inferior to Web3. If you haven’t yet wrapped your caput astir DID, it refers to a self-owned, autarkic individuality that enables trusted information exchange. In different words, it puts integer individuality absorption and medication straight successful your hands alternatively of immoderate 3rd party’s. 

In this week’s Crypto Biz, we instrumentality a look astatine a Web3 concern designed to bring DID-powered outgo solutions to Africa. We besides chronicle Maple Finance, the European Central Bank and Nasdaq.

Payments level Fuse integrates ChromePay to bring DID services to Africa

Is Web3 adjacent imaginable without decentralized individuality services, oregon DIDs? It depends connected who you ask. For Web3 outgo solutions Fuse and ChromePay, DIDs volition play an indispensable relation successful expanding entree to the decentralized internet, particularly successful places similar Africa. This week, the companies announced a caller concern to bring a suite of DID-powered Web3 outgo products to the African continent. Specifically, ChromePay volition integrate the Fuse blockchain, allowing users to entree some accepted and blockchain-based payments straight connected their mobile devices.

— Cointelegraph (@Cointelegraph) May 23, 2022

Maple Finance launches $300M lending excavation for Bitcoin mining firms

Crypto lending level Maple Finance is showing nary signs of slowing down amid the carnivore market. The institution announced this week that it would provide up to $300 cardinal worthy of unafraid indebtedness financing to Bitcoin (BTC) mining firms. Why is this important? Well, for starters, the indebtedness could assistance miners enactment afloat during 1 of Bitcoin’s astir terrible downturns. The indebtedness volition beryllium secured by carnal and intelligence assets owned by the mining firms, including their BTC mining rigs.

European Central Bank chooses Amazon and 4 different firms to prototype integer euro app

The European Central Bank, oregon ECB, volition prototype its integer euro app with 5 e-commerce and fintech companies led by Amazon. Nexi, EPI, Worldline and CaxaBank circular retired the database of partners the ECB has chosen to make circumstantial functions for the integer euro prototype. Although the ECB has been vague astir its intent to merchandise a cardinal slope integer currency, the monetary authorization appears to beryllium laying the groundwork for its implementation. I’m nary instrumentality of CBDCs, truthful marque of this what you will.

Nasdaq reportedly preparing crypto custody services for institutions

The carnivore marketplace mightiness beryllium a cleanable accidental for organization investors to larn astir crypto and, by extension, statesman investing successful the integer plus class. (Regulatory clarity volition besides help.) It was reported this week that fiscal services steadfast Nasdaq is preparing to connection integer plus custody services — a determination that could marque buying and holding BTC and different cryptocurrencies much palatable for organization investors. In my view, it’s lone a substance of clip earlier banks, hedge funds and household offices statesman dabbling successful crypto. At this stage, not considering Bitcoin is simply a major vocation hazard for investors. Ignore BTC astatine your peril!

Before you go: Why did the crypto marketplace dump aft the Ethereum Merge?

Ethereum’s highly anticipated Merge was completed successfully past week, but adjacent that didn’t forestall crypto prices from crashing again. In this week’s Market Report, I sat down with Marcel Pechman, Benton Yaun and Ray Salmond to sermon the factors impacting crypto markets. I besides shared my thoughts connected erstwhile Bitcoin could scope its definitive rhythm bottom. You tin ticker the afloat replay below.

Crypto Biz is your play pulse of the concern down blockchain and crypto delivered straight to your inbox each Thursday.

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