With success comes a survivor bias ― the logical error of concentrating on people or things that made it past a selection process while overlooking those that did not ― as well as, potentially, a superiority complex ingrained in those who survived. This has led to a preponderance of financial products in crypto because of their successes thus far, but a paucity of products and marketplaces for real trade. Entrepreneurs in the blockchain space do not cater to what was supposed to be the most common class of user, and those who do often end up shipping products that fail …
Though seemingly coming from nowhere for many, the themes behind the Reddit-fueled r/Wallstreetbets pump of GameStop feel familiar. Watching it unfold, I tried to figure out just why it had captured my interest to such a degree, and, to me, it was a spillover into the traditional markets of some pervasive themes driving crypto. Despite some competition in the narrative, I view the motivating force — and by it, I mean the social media-fueled spread of the message that drew enough widespread interest to have an impact in the market — behind the GME pump as analogous with what, at …
Within a few years, a younger generation of financial services customers are going to be able to walk into a bank and gain access to credit products, savings accounts and investments that can host both crypto and fiat assets. In fact, the inroads that will allow for all of this to happen are already breaking ground. You probably already know that Kraken, a cryptocurrency exchange based out of San Francisco, is now the first-ever cryptocurrency business in the United States to become a bank. For now, being an officially chartered bank means that Kraken will be able to offer more …
IOV Labs, a startup that constructs financial solutions based on Bitcoin's blockchain, has introduced another layer of scaling. "IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution," said a statement provided to Cointelegraph, which added: Lumino Payments Network enables off-chain payment capabilities for any current or future ERC20-compliant token deployed on the RSK and RIF blockchain networks." Bitcoin-based decentralized finance Ethereum made a name for itself as a smart contract-enabled network primed for project building. Thanks to a sidechain solution called Rootstock (RSK), however, projects can work with smart contracts …
Tokenization platforms are “overwhelmingly centralized” and lack the scalability needed to be a force in the open finance movement, according to developers behind a new protocol. AMPnet says there is no shortage of innovative projects that are making their vision for a more inclusive financial future — but crucial pieces in the puzzle are currently missing. “Houses, apartments, renewable energy power plants, land, traditional financial instruments, company equity and much, much more are all locked away — not to be used or seen by the blockchain market. Five hundred trillion dollars in assets — just waiting to be brought to …