Apple want its own cut (30%) from Web3 ??
Now here’s a crypto use case that we haven’t thought about;
“Husbands are hiding millions in cryptocurrency from their wives in divorce proceedings.”
Bet you didn’t see that one coming.???
Now the stories of the week!
IN THIS ISSUE:
?THE BIG IDEA
Apple want its own cut from Web3
Apple, the world's most valuable company, has been in the news recently for its 30% commision (the Apple Tax), with the world’s richest man Elon Musk saying he'd rather "go to war" than pay Apple's 30% platform fee.
Now…
Coinbase Wallet iOS users can no longer send NFTs to each other because Apple is asking for a 30% cut of gas fees on mobile transactions.
Apple's claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee," Coinbase Wallet shared in a tweet.
What makes this episode complicated is that Coinbase can’t comply with the requirement even if it tried as the iPhone maker's proprietary in-app purchase system does not support crypto. Coinbase has also likened the Apple Tax to Apple trying to take a cut of fees for every email that gets sent over open internet protocols.
The Apple Tax will also affect other popular mobile wallets such as Rainbow and MetaMask, with the CEO of MetaMask?openly condemning?Apple.
But…
Not everyone is openly interested in putting up a fight against this. Instagram, which recently launched in-app NFTs, will implement Apple’s 30% tax on every NFT sale.
Zoom out:?The Apple Tax is another hurdle for web3 players, making mobile purchases much less appealing to users. The 30% fees has been a?contentious point?between Apple and other app developers like Spotify and "Fortnite" maker Epic Games, which have accused the company of misusing its "monopoly."
Will web3 companies win this fight against Apple or fall in line?
QUIZ
What does it mean to bake a blockchain?
(Answer at the end)
Telegram is building a crypto exchange and wallet
“The blockchain industry was built on the promise of decentralisation but ended up being concentrated in the hands of a few who began to abuse their power.”
Earlier this week, Telgram's CEO, Pavel Durov?said?the company will build a decentralised exchange and non-custodial wallet.
领英推荐
Hmm, that’s a new one
Not exactly as Telegram, which has over 700 million active users, isn't new to the blockchain game. In 2018, the company raised $1.7 billion from investors like Sequoia and Lightspeed to build a blockchain called the Telegram Open Network (TON)
Telegram?abandoned?the project under regulatory pressure in 2020 and later?returned?to after its community kept it alive. $TON, the native token of the network, has a $2 billion market cap today.
A crypto play by Telegram which is one the biggest messaging apps in the world could be a huge boost for the crypto ecosystem.
Zoom out:?Recently, the TON foundation announced a $126 million rescue fund to support crypto projects weathering the fallout of the FTX collapse.
As the cryptocurrency industry reels from the collapses of some of its former leading companies, Telegram is looking to capitalise on the growing distrust in centralised intermediaries.?
In other related news, Stripe?launched?a new product that makes it easier to hold cryptocurrencies without signing up to a cryptocurrency exchange.
Number speak?
3 crypto billionaires?
November was a spooky month with the whole FTX saga and the?death of three crypto billionaires.
Who died?
Russian crypto billionaire and founder of the Forex Group, a multi-billion dollar trading conglomerate, Vyacheslav Taran.
Taran, a veteran pilot, died in a helicopter crash. What’s weird about this crash is that it happened on a day with clear skies and good weather. A second passenger booked for the flight cancelled at the last minute.
Last week, 30-year-old Tiantian "TT" Kullander, co-founder of the Amber Group and its WhaleFin digital asset platform, died unexpectedly in his sleep.
Last month it was 29-year-old Nikolai Mushegian. The co-founder of DeFi lending platform MakerDAO who drowned in Puerto Rico. Mushegian died only hours after tweeting that he heard the CIA and Mossad, America and Israel’s national intelligence agencies, were going to murder him.
These deaths might not be connected but they sure do raise concerns around what crypto billionaires get themselves into.
Answer
The process whereby individuals append new blocks of transactions to the Tezos Blockchain.?
Baking is the process of solving complex mathematical problems that will lead to the creation of a new block on the Tezos blockchain.
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