Substack: Weekly Roundups
Decoding the Tech Wave: AI, Blockchain, and Web3
Hello Subscribers,
This week we dive once again into the ever-evolving world of blockchain, AI, and Web3 technologies. Our narrative web spreads from Microsoft's AI and Blockchain endeavours, Qualcomm's AI boost, all the way to China's digital Yuan challenging US dollar dominance. So, without further ado, let's unveil the intricate happenings this week.
Aptos At The Tech Intersection
Jumpstarting our tech recap, Aptos - in alliance with Microsoft, has created ripples in the AI and blockchain domains. The duo has initiated the deployment of new products, leveraging the power of AI and Blockchain. One such product is their chatbot, aptly named the Aptos Assistant, designed to guide the users about the Aptos ecosystem. [Source]
The Tokenization Trend
Moving along, the U.S SEC has granted an exemption to Maple Finance's short-term treasury bonds. This allows their tokenized bonds to be accessible to US investors - an indicative leap towards the practical integration of traditional finance with decentralized technology. [Source]
Bet on BitMEX
Crypto exchange BitMEX is poised to launch SEI and CYBER futures contracts with USDT as margin. Scheduled to debut on August 10, 2023, these financial instruments will offer a maximum leverage of 20 times. [Source]
Fantom Takes Optimistic Jump
In a promising turn of events, Fantom is considering integrating Optimistic Rollup to bridge itself with Ethereum. Andre Cronje, the pioneer behind the Fantom, suggests that adopting the Optimistic Rollup could benefit Fantom users by providing a complete transaction history. [Source]
The AI Gold Standard: Nvidia and Parcha AI
Meanwhile in the world of AI, Nvidia announced an advanced AI chip designed to speed up content creation, terming it as AI’s “iPhone moment”. In a different side of the universe, Parcha AI - a generative AI financial technology startup, successfully procured a $5 million seed round. Led by a former Coinbase senior product director, the fresh funds are destined to spearhead the startup's growth. [Source Nvidia] [Source Parcha AI]
US Defense Dives into AI
Even the US Department of Defence is acknowledging the potential of AI. The Deputy Security of Defense has approved “Task Force Lima” to explore how generative AI can enhance national security and defense initiatives. The prospect of AI acting as an aide to traditional defense mechanisms is thrilling, to say the least. [Source]
PayPal’s Stablecoin and Alchemy Pay's Roadmap
PayPal recently announced the launch of its stablecoin PYUSD in partnership with Paxos – literally raising the stakes for the digital currency sphere. In other fintech news, Alchemy Pay has unveiled the roadmap for the second half of this year. Their big plans include the introduction and integration of Alipay+, and the launch of a Telegram Bot, amongst others. [Source PayPal] [Source ACH]
Future Web and Global AI Adoption
Coin98 announced its recent investment by DWF Labs as it prepares to accelerate Web3 adoption worldwide. Alongside, celebrated filmmaker Stephen Chow announced his entry into the futuristic realm of Web3+AI and intrigued the fans with his interaction with OKX. [Coin98] [Stephen Chow]
Challenging Dollar Dominance: Yuan on the Blockchain
A major global financial shift may be on the horizon as China, Thailand, Hong Kong and the UAE collaborate on the mBridge project. The bold intention of issuing Yuan on the blockchain is not merely an experiment, but a move that challenges the US dollar's supremacy in international settlements. [Source]
Ethereum’s Ongoing Success
In additional positive revelations, Ethereum's beacon chain recently received a net inflow of nearly 5.73 million ETH, following a successful upgrade in Shanghai. The pledged amount exceeded 25 million ETH, reflecting the robust network strength. [Source]
Enter Web-Communication: Etherscan
Web3 communication takes a new turn as Etherscan launches the Blockscan Chat Mobile App. This development aspires to meet users' Web3 communication needs, offering seamless and encrypted conversations between Web3 addresses. [Source]
The Coinbase Success
Coinbase Base, within days of the mainnet launch, reached impressively over 136,000 daily active users. Base L2 notched close to 42,000 new users, and BaseSwap contributed almost half of Base's TVL, which stands strong at $175M. [Source]
SEC Penalties
In regulatory news, the US Securities and Exchange Commission has imposed heavy penalties totalling $289 million on 11 Wall Street firms for failing to store electronic communication records. This move signifies emphasis on compliance and record-keeping in the financial arena. [Source]
Cyber Paycheck: Twitter
In a final note, Twitter's recent revenue-sharing announcement seems to be revolutionizing the social media landscape. Certain content creators have the potential to earn as much as $15,000, making Twitter an attractive place for online financial growth. [Source]
Honorable Mentions
A few other standouts from the week deserve honorable mentions:
DeBank announced the launch of DeBank Chain based on OP Stack, with the mainnet scheduled for next year. The integration by Rabby Wallet with DeBank's test network allows users to explore the new functionalities. [Source]
The NFT aggregation platform Dew announces plans to issue airdrops, offering traders and event winners a chance to earn tokens coveted in the NFT space. [Source]
HUAWEI CLOUD TechWave Web3 Special Day is announced, co-organised by Hong Kong Cyberport, Hong Kong Web3.0 Association, and Techub News. It aims to shine light on vast possibilities of Web 3.0. [Source]
Wrapping Up
This concludes this week's roundup of exciting developments in the tech world with a high focus on AI, Blockchain, and Web3 advancements. As we begin to unravel these ideas, it's evident that technology's blended future will be rewarding. Stay updated to decode the mystery that Web3, Blockchain, and AI present, and remember: the future is now.
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