Ep. 102: Thirty One Billion (Weekly News)
Recorded live on đť•Ź Spaces November 29th, 2023
In this episode we dive into a few important breaking stories like EDF launching their new PoC on Hedera to automate the tracking and management of renewable energy certificates, the UKs intensive moves in the crypto space, new waves of Hedera FUD, a possible re-brand of the Hedera Consensus Service, COP28 details and rumours, a Hyundai & LG partnership, new use cases, rumours and more!
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Top Stories of The Week
1. EDF Uses Hedera for New PoC
EDF, REDEX, and Rekursive Labs have collaborated on a Proof-of-Concept using Hedera's technology to automate the tracking and management of Renewable Energy Certificates (RECs), enhancing the transparency and efficiency of green energy usage, particularly in electric vehicle charging. This project represents a significant step in digitalizing and automating the REC lifecycle, aligning with the European Union's Carbon Border Adjustment Mechanism (CBAM) and supporting global sustainable energy efforts. Read the full article.
2. COP28 & Hedera
COP28, scheduled for November 30 to December 12, 2023, in Dubai, is a major event in global climate change efforts, aiming to foster collaboration to meet the Paris Agreement's goals. The conference will feature discussions on the role of digital technologies like AI, blockchain, and cloud computing in enhancing carbon removal efforts, with Hedera and the HBAR Foundation playing a part in these discussions, particularly through the Global Climate Registry developed on Hedera, which aims to streamline carbon credit registration and verification. Read post from Hedera.
3. Hedera on Capitol Hill
Hedera, as part of the Blockchain Association, participated in a summit on Capitol Hill, discussing digital asset regulations with U.S. Congress members. The key focus was a letter from national security professionals in the digital asset industry, addressing misconceptions about cryptocurrency use in illicit activities and offering expertise to ensure balanced regulation that doesn't harm the U.S. digital asset industry or national security.
4. New Waves of Hedera FUD
As the network grows, so will the FUD and misinformation regarding Hedera, it's path to decentralization and confusion surrounding how the network and governance functions. Sometimes, this can flare up debates and discussions that extend for days and result in frustration, especially if the individual challenging the premise of Hedera hashgraph isn't receptive to new information or ideas that challenge the conventions of what's expected in the crypto industry. I talk about some of what's happened recently. One silver lining though is we got an excellent breakdown illustration.
5. Branding of HCS
I've noticed that the naming of the Hedera Consensus Service (HCS) might lead to misconceptions, especially among retail investors conducting preliminary research. While HCS transactions are indeed paid transactions by external parties and not internal messages between validators, the name 'Hedera Consensus Service' unfortunately leads some to assume they are 'fake' validator communications, a misunderstanding that could potentially hinder Hedera's adoption in a market driven more by narrative than technical details. I broke down my thoughts in this post and shared some of the alternative names for HCS in this post.
6. UK Regulator Wants Tokenization
The UK government is urging crypto users to voluntarily disclose any unpaid taxes on capital gains or income from cryptoassets to avoid penalties, with guidance provided on how to pay these taxes. Meanwhile, the UK's Financial Conduct Authority (FCA) has approved the development of blockchain-based tokenized funds by investment managers, signaling a significant step towards integrating traditional financial principles with blockchain technology for more efficient and transparent asset management. A double-sided story...
7. Online Payments with Wix & Hedera
BodyMindLife Byron Bay has implemented a revolutionary ""pay everyone at once"" payment system, where payments from students attending classes are instantly distributed to teachers, landlords, and other stakeholders, powered by Wix Studio Booking and Hedera blockchain. This system, currently in beta, marks a significant step towards efficient closed-loop systems for communities, aiming to boost their competitiveness by reducing costs, risks, and saving time. This LinkedIn post has more info.
8. Circle & Hedera Breadcrumbs
We explore the possible connections between Circle and Hedera with recent activities on social media, most notably with the release of Calaxy's ""send crypto in DMs"" feature, demoed on CNBC, that was highlighted by Circle's CEO. Furthermore, Hedera governing council representative Rob Allen mentioned that he had a great conversation with Circle's CEO regarding Hedera. This leads us to start piecing together some breadcrumbs.
9. Hyundai & LG Team Up
LG Electronics is partnering with Hyundai Motor Group to integrate its webOS for Automotive into the new Genesis models, marking LG's first venture into the automotive content platform sector and expanding the webOS success from Smart TVs. This collaboration also involves a partnership with YouTube, enhancing in-vehicle infotainment systems to offer experiences akin to home TV, and ties in with LG's recent initiatives like NFT trading on smart TVs and the development of the Wallypto crypto wallet for the Hedera network. We talk about all the things this announcement could imply...
10. SaucerSwap V2 Hurdles
SaucerSwap temporarily paused the creation of new positions in V2 liquidity pools due to minor transaction inconsistencies and to address withdrawal issues for some users. Over the course of several days, they identified and fixed the root cause, eventually deploying an updated nonfungiblePositionManager contract to ensure safer management of NFT liquidity positions, and fully restored the functionality of their V2 pools, including options for users to migrate to the new contract.
Also…
Ledgerworks Sentry service is being discontinued
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