Category: Blockchain

The sale of virtual lands happens daily in Decentraland, but a recent purchase by property investors took virtual land investment to a whole new level. According to Yahoo Finance, …

By NuWire

The sale of virtual lands happens daily in Decentraland, but a recent purchase by property investors took virtual land investment to a whole new level. According to Yahoo Finance, 259 parcels or 16 acres of digital land bought by Republic Realm cost more than $900,000, the most expensive purchase of NFT land ever. NFTs, also known as non-fungible tokens, have been a hot financial investment topic in the art industry. However, in recent months NFTs have become increasingly popular in the real estate investing sector. The ability to buy and sell property on blockchain-based platforms like Cryptovoxels and Decentraland indicates that blockchain is reshaping the real estate market. If you’re looking to invest in this blockchain-based real estate trend, read on to learn how NFTs could transform property investing.

The United States is rapidly embracing decentralized finance, the cryptocurrency sector and the innovative industry of blockchain technology.

We have some great news coming out of the United States on the cryptocurrency industry this month with potentially more good news coming later this fall.

On Oct. 6, Gary Gensler, head of the U. S. Securities and Exchange Commission (SEC), confirmed during a House Committee on Financial Services hearing that the regulator will not ban cryptocurrency, potentially blazing the path for the world’s largest economy to become the global leader in the development of decentralized finance (DeFi) and blockchain technologies.

Gensler, who taught a class on cryptocurrency at MIT, also said that prohibiting cryptocurrency doesn’t fall under the SEC’s mandate and the only way to legally ban digital assets would be through Congress.

“It’s a matter of how we get this field within the investor consumer protection that we have and also working with bank regulators and others — how do we ensure that the Treasury Department has it within Anti-Money Laundering, tax compliance,” Gensler said. He also added:

Governments will not only use blockchain for fundamental services such as identity and voting but as a framework for economic growth. 

Governments are tasked with bringing fair and efficient services to the public. Unfortunately, providing transparency and accountability often results in a reduction in efficiency and effectiveness or vice versa. Governments are usually forced to choose to improve one at the cost of the other. On rare occasions, technology comes along that enables governments to improve fairness and efficiency.

The move from paper-based record keeping to computer databases was one such technology. The internet was another. Blockchain is the next. Like the internet before it, blockchain will not only improve how the public interacts with government services, it will have broad economic and social implications.

NFTs, metaverses and ‘play-to-earn’ are upending gaming’s traditional revenue model. Shreyansh Singh of Polygon explains blockchain gaming’s business potential.

In recent years, various forms of in-game purchases and microtransactions have become the norm for many games. Free-to-play games that generate income from these revenue sources have also grown in popularity, but many gamers remain unconvinced. Now, thanks to developments in blockchain and novel software development kits (SDKs), developers can bring NFT-powered items and transactions into their games — even existing ones — for the first time. This stands to bring in a new era of gaming that benefits both developers and players alike.  

The superior power of quantum computing poses a threat to blockchain technology and the cryptocurrency segment. However, Cambridge Quantum, the quantum software leader in the UK, might prevent that from happening.

Cambridge Quantum has recently released a new study and its partners from the Inter-American Development Bank (IDB) and the Monterrey Institute of Technology (TEC de Monterrey). In the new report, now available in the preprint repository arXiv, researchers demonstrate a new blockchain technology that can supposedly resist attacks even from a quantum computer.