31st July 2022 - Middle East

Over the past few years, we have constantly heard the term “Blockchain technology” when talking about Crypto and Bitcoin. In fact, some people may be asking themselves, “what is blockchain technology?” A blockchain can be seen as a distributed database whose information is stored across every node running the network.

Blockchain has given birth to thousands of new projects, ideas, and communities collectively worth trillions. But with such rapid success - the blockchain industry is now on par with some of the world’s biggest economies. Dubai has adapted rapidly to this ever-changing technology by having a strategy in place to move most of its operations on the Blockchain.?

While the use of blockchain technology is constantly growing over the last few years, some companies have yet to start adopting it. Staying ahead of the game is an important step for every company. Blockchain Technology can help revolutionize several industries however it still remains to see whether Satoshi Nakamoto’s Best invention was Bitcoin or its underlying blockchain.

Top news this week included DIFX partners with Crypto Oasis to further establish its foothold in the competitive global crypto market?and Commercial Bank International is the first UAE bank to be in the Metaverse.?UK to regulate stablecoins as a form of payment via new bill,?the Central Bank of Singapore will release a framework for regulating cryptocurrencies, and Japan's Ministry of Economy establishes a Web3 policy agency.

Evai Crypto Ratings Review and What's next for the market?by Matthew Dixon

Education:-?Smart contracts by Prof. Dr.?Fabian Sch?r

Latest Investment News:-?Oaziz

So here's what else happened this week in Crypto

In the News

JPMorgan asserts a rise in demand from retail cryptocurrency investors. JPMorgan Chase & Co. (JPM) said in a report on Thursday that demand among retail investors in the crypto market is improving, and that the "intense phase" of deleveraging appears to be over. Coindesk ?

DIFX partners with Crypto Oasis to further establish its foothold in the competitive global crypto market.?DIFX, a Blockchain-based cross-asset trading Platform, has announced that it has joined with Crypto Oasis as an Ecosystem Partner. Zawya ?

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Digital asset custody provider Komainu given a provisional license by Dubai’s VARA. Komainu is still in the due diligence phase as required by VARA, but it has been given permission to begin “operational readiness.” Nasdaq ?

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UK finance association labels crypto a ‘good alternative’ to traditional payments. A new study found that cryptocurrencies have the potential to complement traditional finance by acting as a “good alternative” to existing settlement processes. Finbold ?

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Ripple inks major partnership with Singapore-based payment institution. FOMO Pay will use Ripple’s On-Demand Liquidity product in order to increase the efficiency of payments. U.Today ?

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UK to regulate stablecoins as a form of payment via new bill. The bill aims to regulate stablecoins as a form of payment, bringing the burgeoning technology closer in line with existing financial services regulations. Blockworks ?

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Nigerian Central Bank Governor says Fintechs & Cryptos change the way financial systems function.?The Nigerian central bank governor, Godwin Emefiele, recently remarked that Fintechs and cryptocurrencies have forced banks and financial institutions to change the way they operate. According to Emefiele, this requires the central bank’s monetary policy committee to rethink how it regulates the financial system. Finbold ?

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Shiba Inu partners with longtime Marvel collaborators. Marvel’s go-to previsualization company, The Third Floor, has formed a high-profile partnership with the Shiba Inu. U.Today ?

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One of Switzerland's oldest business travel agencies now accepts Cryptocurrencies. Now business travelers using Kuoni can pay for services using cryptocurrencies. Currently, BitPay accepts payments made in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), Bitcoin Cash (BCH), Litecoin (LTC), and Wrapped Bitcoin (WBTC). U.Today ?

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A blockchain pilot project has been launched by the Saudi chemical manufacturer SABIC. The blockchain pilot is expected to reduce costs and time, improve data integration and streamline processes. Bitcoin News ?

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More young investors prefer cryptocurrencies over Gold, according to a trading expert. Regardless of the digital currency market's volatility in recent months, the sector is expanding because some young investors are now interested in investing in digital assets. Finbold ?

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UFC fighter to receive full salary in Bitcoin. Luana Pinheiro, a Brazilian UFC fighter, has become the first female athlete in Latin America to receive her entire salary in Bitcoin. Cointelegraph ?

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The Central Bank of Singapore will release a framework for regulating cryptocurrencies. The Central Bank will create a framework in order to ensure that businesses are properly regulated within its jurisdiction while still encouraging the growth of business. Bitcoin Magazine ?

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Sustainable Bitcoin mining power mix hits 59.5%: BTC mining council. Nearly 60% of the power used to run Bitcoin (BTC) mining equipment comes from environmentally friendly sources, according to the Bitcoin Mining Council's most recent Q2 2022 report. Cointelegraph ?

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To lower Ethereum costs, Polygon unveils a new scaling solution. Polygon's zkEVM is an Ethereum-compatible scaling solution that aims to process more transactions per second than Visa. DeCrypt ?

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Arte News?

For claims, HARTi and Mitsui Sumitomo launch NFT insurance coverage. The company said its move allows all NFTs listed on the HARTi platform to be covered without charge to sellers. Business Insider ?

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Japan's Ministry of Economy establishes a Web3 policy agency. The new body will bring together financial regulators, representatives from the creative industries, and other interested parties to formulate policies for the Metaverse. Inveting.com ?

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Courses in the metaverse will soon be offered at the University of Tokyo. The company's project is intended to address the lack of skilled personnel working on rapidly evolving technologies in Japan. Cointelegraph ?

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By 2026, virtual real estate sales will grow by $5 billion. The report predicts that the growth of the metaverse will be fueled by a transition of these spaces into mixed reality environments, where people can utilize them. The Coin Republic ?

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Experts weigh in on whether NFTs may be used to solve ticketing problems. A major pain point in the events industry could be solved using blockchain and nonfungible tokens, according to industry leaders. Cryptosaurus ?

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Epic Games Store "definitely won't interfere" with devs who want to sell NFTs. Tim Sweeney, Epic Games CEO has said that the firm will not ban NFTs, as developers “should be free to decide how to build their games.” Games Radar ?

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Biggest metaverses unite with the launch of Open Metaverse Alliance for Web3 (OMA3). OMA3 will work with Web3 stakeholders to propose standards and facilitate collaboration. NFT Evening ?

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Dubai Police to roll out 2nd NFT collection during GITEX 2022. The first edition includes 150 free digital assets for police departments focused on the police force’s values of innovation, security and communication. Arabian Business ?

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Blockchain-based game Geopoly releases its alpha version. Players may play this game, enjoy the gameplay, and make money at the same time by interacting with the blockchain and their individual Geopoly non-fungible tokens. Bitcoin News ?

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Major K-pop artists, influencers, and fans may access Web3 entertainment platforms thanks to Fellaz. Through a Web3-native infrastructure, the project will assist users from the entertainment sector in making the move from Web2 to Web3. Cointelegraph ?

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As part of its metaverse business, LG TV is getting ready to issue and sell NFTs. LG plans to offer software for trading NFTs and cryptocurrencies, as well as services for wealth management, digital token brokerage, and TV. Finbold ?

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Three-dimensional functionality is bridged between metaverses through the 3D NFT market Through the MetaMundo marketplace, users will be able to examine and interact with the 3D files included with each NFT before making a purchase. Co-founder of MetaMundo Finn Hansen stated that the platform aims to lead NFT functionality across many blockchain projects. Times of Crypto ?

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One million dollars is raised as seed money for the Monopoly Millionaire game. The MMG team stated that it will utilize the money to further the MMG GameFi concept and draw more players to the Web3 games. Bitcoin News ?

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Coinbase will debut Bill Murray's biographical NFT project. Bill Murray is launching an inaugural NFT series with Coinbase, which will include “Anecdotes, observations, advice, memories and Murray-isms” from the iconic actor. Cointelegraph ?

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Commercial Bank International is the first UAE bank to be in the Metaverse. The virtual space also features a lounge where customers can learn about CBI's commitment to supporting the strategic vision and aspirations of the UAE toward digitization and innovation. Gulf News ?

Evai Crypto Ratings Review

What's next for the Market?- Matthew Dixon

What a difference a day makes in crypto. Just a short while ago it was all doom and gloom with traders coming to terms with a toxic macroeconomic environment of rocketing inflation, rising interest rates, and economic growth ‘falling off a cliff, against a backdrop of the continuing Russia-Ukraine conflict.

It seems like it was a case of “buy the rumor, sell the news” when US GDP figures were released on Thursday, expected 0.5%, actual -0.9% a total miss of 1.4% lower than expected. Catastrophic you might think but as the saying goes, “markets can stay irrational, longer than you can stay solvent”.

Bitcoin and crypto, in general, have rallied strongly following the news and the reason is that markets are forward-looking. If growth is falling, then easier monetary policy is likely in the pipeline, meaning that ‘easy’ money will flow into risk assets, hence the demand for crypto.

Interestingly, leading cryptos had reached strong support levels with some key Fibonacci extensions tested, proving that markets are not quite as random as some might think.

So, the $64,000 question, or should that be $64 billion with inflation? Where next for markets? At some point, intensified pressures from failing growth and rising inflation should prove an irresistible drag on asset prices but for the short-term, higher prices are quite likely as the bull trap is being set!

Learn to Earn

Smart contracts are digital agreements that allow parties to automatically execute specific actions. They are a crucial aspect of the?Ethereum ?Virtual Machine (EVM). Learn how they work with Prof. Dr.?Fabian Sch?r ?of the?Center for Innovative Finance (Universit?t Basel) .

Latest Investment News

Crypto Oasis Sentio announced the addition of Oaziz DAO, an exciting new project for the event industry.

Oaziz DAO is a platform that will introduce Web3 tools to the event sphere. With no division between all members and even possibilities for everyone, they clear the gap existing in centralized models.

Click here for more information:- oaziz.xyz

That's it for this week, see you next week.