Crypto Recap: A crypto wallet on Twitter?







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A graduate of Montpellier Business School and Paris 1-Sorbonne, with experience in the worlds of banking and insurance, Laurent Pignot maintains such a passion for cryptocurrencies that he aims, one day, to launch a medium dedicated to the popularization of these alternative assets. What attracts this fan of sport and gastronomy? As a good representative of his generation, the decentralized and disintermediated dimension of these currencies. What drives it? Adrenaline is linked to the investment game.








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Crypto Recap Google leader in crypto blockchain investment

The cryptosphere is full of crisp news daily. To keep you up to date with the main information revolving around this sector, I have condensed for you the essentials of the most important news of recent days.

  • Is Twitter building a crypto wallet? In any case, this is what a blogger, Jane Machun Wong, who covers technological topics on the Web. The blogger, who has a habit of combing through the accessible public codes of tech companies, revealed on Twitter that the company was developing a “crypto wallet” who would take care of “the deposit and withdrawal of cryptocurrencies.” Note, however, that Twitter has yet to publicly announce such a product, and it’s unclear where Wong got the information. On the other hand, taking a step back, we note that it would not necessarily be surprising for the company to announce such a service. Twitter has introduced various cryptocurrency-related features over the past year. In September 2021, it introduced tipping in crypto. In November 2021, it started integrating decentralized Web3 applications. In January, it started allowing users to add NFTs as profile pictures. We’ll see in the coming weeks whether or not Twitter will step up to the crypto sphere by offering a dedicated wallet for it, unless Elon Musk decides otherwise, although he’s not the last to give bitcoin credit and consorts. Soon dogecoin everywhere on Twitter?
  • Apple this week codified its rules for iOS apps that handle non-fungible tokens (NFTs). Transactions offering in-app NFTs (in-app purchase) must use Apple’s rails for transactions and various operations, where Apple will charge a 30% commission rate. Otherwise, the update released on Monday also prohibits apps from offering exclusive access to NFT owners, or linking their users to third-party sites where they could buy and sell outside of the Apple ecosystem – thereby avoiding “Apple tax” charges. We are moving away here a little from the very nature of NFTs which should in theory allow content creators to receive more favorable and fairer remuneration than in Web2. We are also moving away from the decentralized nature of NFTs, which should be able to be traded on various platforms, and not only be restricted at Apple. Finally, the most interesting cases of NFTs allow their owners to have privileged access to different services, whereas here Apple confines itself to the artistic aspect and collection of NFTs. Despite these announcements, at the same time, Internet users see it as an opportunity to offer a portfolio Ethereum to more than 1 billion Apple customers worldwide, generating a lot of traffic on the Ethereum ecosystem. We can expect that many creators will still choose to offer their NFTs on the Apple Store, despite the large commissions, to address the billion users of the Apple brand.
  • Rishi Sunakthe new British Prime Minister, is a fan of cryptocurrencies. During his tenure as finance minister, Sunak disclosed his intention to transform the country into an international cryptocurrency hub. He claimed earlier this year on Twitter that he viewed cryptocurrencies as “fundamental for the companies of tomorrow”. Sunak notably pushed the Financial Services and Markets Bill, which, if passed, could give local regulators greater power over the crypto-asset industry, especially through the integration of assets like stablecoins (cryptocurrency that replicates the price of a currency) within the scope of nationwide payments regulation. Announcements from the British Prime Minister which come after our Minister of the Economy, Bruno Le Maire, announced want to make France the “European crypto-asset hub”. Anyway, before exploring the opportunities in the crypto ecosystem, youngest prime minister in contemporary UK history will first have to restore order within his party, deal with inflation and prevent the country from falling into recession.
  • This week L’Oreal, Meta and HEC Paris have announced that they are joining forces to launch a startup acceleration program dedicated to creativity in the metaverse. The program will support at least five startups specializing in 3D production, augmented reality (AR), virtual reality (VR), mixed reality, creation of avatars, portability in user experience, token economy or other topics related to the metaverse and Web3. It will be hosted in the Meta space of Station F, in the 13th arrondissement of Paris, which presents itself as the largest startup campus in the world. Recall that Meta CEO Mark Zuckerberg said he expects investments in the metaverse to take about a decade to bear fruit. While at the same time investors send the signal to Mark Zuckerberg that he should slow down the ambitions and the costs associated with the Metaverse which weigh heavily on the company’s balance sheet. We haven’t finished hearing about the Californian boss and his determination to establish his 3.0 world, whatever the cost…
  • We stay in the Metaversewith publication of a 116-page report on this subject which had been requested by the Minister of Economy and Culture. Lhe document describes thehe opportunities and challenges presented by the metaverse and how France should approach the advent of virtual worlds. The mission was led by Camille François, a researcher at Columbia University; Adrien Basdevant, lawyer at the Paris Bar; and Rémi Ronfard, researcher at the National Institute for Research in Digital Sciences and Technologies. Broadly speaking, the researchers say there is a need to “start now” to develop frameworks such as the General Data Protection Regulation (GDPR) of the European Union and the Digital Services Act (DSA) to cover data collection and user protection in the metaverse. And that to create “a European metaverse” as Emmanuel Macron mentioned during his presidential campaign, it will be necessary to bring together companies linked to augmented reality, 3D content, virtual and mixed reality with companies from the crypto ecosystem, “otherwise the place will quickly be taken by the industrial lobbies”, indicates the report. A lot of practical and ethical questions revolve around this subject, we will come back to it more widely in dedicated articles on Zonebourse.
  • Young Americans love cryptocurrencies. A investigation conducted by brokerage firm Charles Schwab revealed that nearly half of Gen Z and millennials want to hold cryptocurrencies as part of their 401(k) retirement plans. The pension support mainly used across the Atlantic to build up assets for retirement. 45% of those under 25 want to integrate crypto-assets into the 401(k) while 11% of those aged 60 or over are of the same opinion. These figures join those we saw last week, where a study of the Bank of America specified that age was the investment determining factor with regard to interest in this asset class.
  • The financial services giant Fidelity found that more institutions were investing in cryptocurrencies compared to a year ago, despite the market slowdown. Investigation includes 1,052 institutional investors in Asia, Europe and the United States. Fidelity reveals 58% of investors surveyed said they owned digital assets in the first half of 2022, representing a 6% year-over-year increase, according to Fidelity’s fourth annual Institutional Investor Digital Asset Study Digital Assets released Thursday. Around 35% of respondents think digital assets should be considered an independent investment class, up from 23% in 2021. Finally, 74% of institutions surveyed said they plan to purchase digital assets in the future. What is unprecedented in the short history of cryptocurrencies is this institutional craze for this asset class during a bear market period when it was completely neglected in previous cycles.

The evolution of the Top 20 cryptocurrencies in terms of capitalization over a week.
(Click on the heat map below to better visualize the variations)

Crypto Recap A crypto wallet on Twitter

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Readings:

Chaotic Crypto Launch Reveals How Hard It Is To Beat Ethereum (Wired)

Is AI stealing the thunder from Web3? Most Promising Crypto Startups (The Information, in English).

The political crypto megadonor shut down his wallet (The Atlantic, in English).

Zonebourse.com 2022

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Crypto Recap: A crypto wallet on Twitter?


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