Ep. 101: Resistance is Futile (Weekly News)
Recorded live on đť•Ź Spaces November 22nd, 2023
This week on the show, we delved into exciting developments in the cryptocurrency world, notably Calaxy's new feature for crypto transactions via direct messages, powered by Hedera hashgraph. My interview with John Wingate from BankSocial highlighted their innovative use of Hedera's technology.
We also covered SaucerSwap V2's launch, Binance's legal challenges alongside its Japan arm listing HBAR, and Bittrex's upcoming closure. The focus then shifted to Hedera's advancements in Hashgraph technology and the need for secure data storage solutions like Taekion's TFS Lite, amidst the rising costs of data breaches in the US. This is a juicy one, so strap in!
Tune in live on đť•Ź Spaces Wednesdays at 12pm ET / 9am PT for the weekly news. Recordings available on Spotify, Apple Podcasts, Google Podcasts, YouTube and other major platforms the following day.
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Top Stories of The Week
1. Calaxy DMs Go Live on CNBC
Recently, the cryptocurrency world experienced a significant development that could pave the way for widespread adoption. Solo Ceesay and Spencer Dinwiddie, the co-founders of Calaxy, showcased a new feature on CNBC. This innovation enables users to send and receive cryptocurrency through direct messages. This advancement, which is powered by Hedera hashgraph, has created a buzz in the crypto community. Read the full article.
2. My Feed is Full of HBAR Charts
As I browse my social media, I'm noticing a significant change. Key players in the cryptocurrency sector, including traders, analysts, influencers, and media figures, are increasingly discussing Hedera and its HBAR token. Recent developments have attracted more attention to the hashgraph technology, sparking excitement and heightened interest.
3. SaucerSwap V2 Launches
SaucerSwap V2, launched on November 17, 2023, introduced significant upgrades including a concentrated liquidity market maker protocol, NFT-based liquidity positions, a multi-tiered fee structure, and support for MetaMask. These enhancements, along with the Liquidity-Aligned Reward Initiative and changes in tokenomics, aim to improve the utility and value of SAUCE tokens by incentivizing efficient liquidity provision and implementing a fee allocation strategy that includes token buybacks. Get all the details here.
4. Hedera Writes to the US Gov
Hedera Hashgraph LLC's response to a U.S. government RFI showcases their commitment to open-source software security and collaboration with government agencies, suggesting initiatives like an Open Source Program Office and standards for software security, reflecting their proactive role in the crypto industry's development and security. View the full PDF here.
5. Bank Social Announces DEFY
I have an in-depth exclusive conversation with John Wingate from BankSocial where he shares all the alpha! BankSocial's proposed DEFY Federal Credit Union, leveraging Hedera's technology, aims to revolutionize global finance with a digital-first, self-custody approach and innovative tools like decentralized key recovery and real-time payments, blending traditional finance values with modern blockchain solutions. Get the full press release here.
6. More Big Exchange Shakeups
Binance is grappling with significant legal issues, including a $4.3 billion fine and its founder, Changpeng Zhao, stepping down as CEO amid criminal charges related to illegal transactions and anti-money laundering violations. Meanwhile, Binance Japan plans to list HBAR for trading, independent of its parent company's troubles, and in another development, Bittrex is set to close its doors on December 4th.
7. Dell’s Paper on DLT & Edge
In 2018, enterprises recognized the potential of DLT but it wasn't ready for widespread adoption. Since then, Hedera has been laying the groundwork for Hashgraph technology, and in the coming years, it's expected to achieve significant transaction speeds, surprising a market that has been unaware of the ongoing, crucial developments. This recent paper from Dell Technologies pulls back the curtain on how the network functions.
8. Governing Council Meeting
During a three-day event in Singapore, Rob Allen attended his first in-person GC meeting, where all committees, especially CorpCom, reported strong attendance and involvement. Key highlights included the HBAR Foundation's exciting updates, Hedera LLC's significant policy work, and the sharing of use cases by external partners like Hyundai, underscoring the organic enterprise adoption and the steadfast, humble leadership of Mance and Leemon. Additionally, Rob Allen announced his new role with Australian Payments Plus and his return to the governing council.
9. Hedera Writes to the IRS
Hedera is advocating for clearer regulations to ensure Layer 1 blockchain infrastructure providers like themselves are not misclassified as ""brokers,"" fearing that current rules could impose inappropriate burdens and hinder their operations. They emphasize the distinct nature of activities like staking and message validation in blockchain technology, arguing these should not be subject to broker regulations to avoid stifling industry growth and innovation. Read the submission here.
10. Taekion Funded by US Gov
In the US, data breaches cost an average of $9.4 million, and with the big data market projected to reach $229.4 billion by 2025, the need for secure data storage solutions like Taekion's TFS Lite is crucial. Leveraging Hedera's blockchain technology, TFS Lite offers enhanced security through encryption, immutability, and tamper-proof features, and has been rigorously tested in high-stakes environments, including with the U.S. Air Force. Full announcement here.
Also…
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