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Month: February 2024

ThursdayFeb 29, 2024 12:00 pm

Binance Updates Web3 Wallet, Adds Inscriptions Marketplace

Recently, Binance announced that it had updated its Web3 Wallet to support ERC-404 tokens. ERC-404 is a new standard for digital assets on the ethereum blockchain. It combines the characteristics of non-fungible tokens (NFTs) and fungible tokens. The aim of this new standard is to bring liquidity and fractionalization to non-fungible tokens. Binance also revealed that it had introduced an Inscriptions marketplace. Binance is the leading cryptocurrency exchange globally in terms of daily trading cryptocurrency volume, catering to more than 160 million registered users in some 180 nations. These updates are part of the company’s efforts to simplify asset management…

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TuesdayFeb 27, 2024 10:30 am

Japan Cabinet Approves Bill Allowing VCs to Invest in Web3 Cryptocurrency Tokens

Japan’s cabinet has approved a bill that would allow limited liability partnerships (LLPs) including venture capitalist (VC) firms to invest in Web3 cryptocurrency tokens. Called the Industrial Competitiveness Enhancement Act, the measure is meant to advance the creation of new business and investment in Japan’s industries. If the legislation passes, it would loosen Japan’s strict VC cryptocurrency investment rules and finally grant Web3 startup firms that only issue cryptocurrencies access to venture capitalist funding. Local media reported that the national cabinet approved certain revisions to the proposed measure such as adding cryptocurrency assets to the list of assets that can…

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ThursdayFeb 22, 2024 11:30 am

How Public, Private Entities Can Bolster Cybersecurity as Web3 Gains Traction

Web3’s future will depend on the deployment of precise and effective cybersecurity to ensure digital transactions and assets are secure. Considered the next iteration of the internet, Web3 is built on decentralized blockchain technology and is controlled by users communally. With the global digital landscape predicted to develop and expand rapidly in the coming years, cybersecurity is becoming even more crucial. However, the nascent Web3 industry still struggles to maintain comprehensive security and has dealt with cyber threats several times in the past. In most cases, unscrupulous players and general human element are responsible for the cyber threat against Web3…

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TuesdayFeb 20, 2024 10:15 am

How Web3 Is Revolutionizing Japan’s Gaming Industry

Japan’s gaming sector was once the most dominant on the globe as companies such as Sega and Nintendo captured the majority of the console game industry and released hundreds of classic games. Cultural icons such as Pokemon emerged from China and were among the first games to blur the line between the digital and physical world. The industry began to decline more than a decade ago with the introduction of stronger game consoles such as the Xbox. Japanese developers had trouble adapting to consoles with PC architecture while Western developers were already well versed in developing games for PC, giving…

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ThursdayFeb 15, 2024 11:30 am

Next Phase of Web3 to Rely on Zero-Knowledge Technologies

Since 2023, the zero-knowledge industry has grown, with ongoing developments bringing us closer to accessing the full benefits of decentralized virtual platforms. This comes at a time when decentralized finance platforms have demonstrated vulnerabilities to data breaches and technical inefficiencies have constrained the development of decentralized systems. It is expected that continued growth will see a proliferation and diversification of use cases, such as advancements in compliance, privacy and data protection. By affording blockchain developers more efficient and secure tools, we will start to realize the benefits of zero-knowledge technology, particularly in 2024 as the tech is applied in more…

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TuesdayFeb 13, 2024 11:15 am

2023 Saw Investment in Web3 Record $9B in Inflows

Data from last year shows signs of recovery in Web3, despite the hype around artificial intelligence and the crypto bear market. Considerable investments have also been observed moving into the Asia-Pacific region. This, together with lower rates of failure of crypto projects, demonstrates signs of a maturing Web3 space. A report published earlier this week highlights the developments in Web3 inflows for last year. In 2023, total fundraising in this sector surpassed the $9 billion mark, with November being the month with the highest inflows at $1.3 billion. This demonstrates progressive recovery and growth trajectory, particularly in the fourth quarter,…

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ThursdayFeb 08, 2024 1:30 pm

2024 Democratize Summit to Explore Convergence of Web3 and AI

The upcoming Democratize Summit 2024 in San Francisco will explore how artificial intelligence (“AI”) and Web3 will converge and help shape the future of the digital horizon. Featuring more than 1,000 forward-thinking industry leaders, the event will run from March 20–21, 2024, and promises to deliver a blend of strategic networking, actionable insights and discussions to the tech hub of San Francisco. Artificial intelligence has come a long way in the past few years, thanks to major advancements in software and hardware. The technology became widely accessible to the public with the release of OpenAI’s ChatGPT, a free-to-use language model.…

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