Jack Dorsey, a venture capital firm’s representative, has taken issue with Jack Dorsey’s ‘false’ idea of a decentralised Web3
Here’s a recap of it and other top stories you might have forgotten going into the holiday season
Jack Dorsey from Block shares his thoughts on the Bitcoin vs. dollar debate
Jack Dorsey, a former Twitter CEO and the current Block (previously Square), CEO had his opinion on the Bitcoin v Dollar topic. Responding to Cardi B’s Tuesday tweet asking whether Bitcoin would replace the dollar, the Bitcoin enthusiast was affirmativeIn his reply. His reply caused waves in crypto communities, attracting engagements from both sides.
It was not surprising that he stood out, given Dorsey’s passion for Bitcoin. He has previously stated that Bitcoin is the most important thing that he must work on during his lifetime. The Twitter co-founder resigned his post as CEO and will now be focusing on Block, his digital payments company and financial services firm.
Market changes led to a slight uptake in Bitcoin following the tweet. Concerns over the Omicron variant’s impact on the world’s largest cryptocurrency coin have led to a decline in the value of Bitcoin, which has been the reason for its recent drop. This week it became clear that Dorsey does not like Web3, or the technology’s control through venture capital firms.
The Bitcoin bull will be in action Tuesday tweetedWeb3 was, in fact, a centralised entity. Elon Musk joined the fray by asking if anyone had ever seen Web3. Dorsey replied“It’s somewhere between A and Z”, possibly implying that it is controlled or managed by venture capital company a16z.
Visa acquires international payment solution firm Currencycloud
Visa will be closed Monday confirmedIt had announced the acquisition of Currencycloud, a cross-border payments solution firm. The agreement was sealed in July for a sum of £700 million, which at the time, Visa said was part of its ‘network of networks’ strategy. Currencycloud also confirmed that it would keep its London headquarters.
Visa and Currencycloud are now able to offer clients and partners better control, flexibility, transparency, and control. Visa hopes to improve the customer experience and make it easier for clients to transact cross-border funds.
The deal is part a strategic partnership agreementIn an agreement that pledged cooperation, the two companies will cooperate starting in 2019. The goal was to promote innovation in transnational payment systems and offer Visa customers innovative digital-first travel payment services that will improve visibility, control and visibility of their money when they travel across different regions.
Currencycloud uses application programming interfaces (APIs), to provide currency exchange services for financial service providers. It provides virtual account management, instantaneous notification of foreign exchange transactions, and multi-currency management. The platform’s enterprise-class payments service is used by approximately 500 clients across the tech and banking industries in more than 180 countries.
The Paraguayan Senate approves a crypto regulation proposal
Last Thursday was the first time that a bill to regulate cryptocurrency mining and trading was introduced in the lower house by MP Carlitos Rejala. receivedThe Paraguayan Senate voted with a majority of 29 votes against 8 opposed votes. Senator Fernando Silva Facetti who championed the bill in the upper chamber, gave support to MP Rejala.
The bill’s main argument was the abundant amount of power that Latin America produces. Paraguay has a high production of hydroelectric power. It uses about five times as much as it produces, and most of that surplus goes to waste.
The regulation of the crypto sector, and the possibility for international miners to establish mining farms near power generation plants, would monetise overabundant power that otherwise would go unutilized. This proposal aims to establish clear regulation of the crypto sector. If it is implemented, it will validate crypto mining and recognize the mining of virtual currencies as “a digitally innovative industry”.
Entities interestedIn order to set up mining operations, you will need approval for industrial electricity usage before applying for a licence. While this is a significant win for crypto backers it is only the beginning of a long journey. The bill will be debated by the House of Deputies, which is the lower house, and voted on next year by them. After that, the President can make it law.
Crypto.com purchase an ad in the Super Bowl 2022
Crypto.com has no plans to slow down and seeks to be one of the most prominent consumer brands in America within the next three to five year. The Wall Street Journal reported Wednesday that the Singapore-based crypto exchange had made its last major financial move of the year. purchased ad space in the biggest sporting event in American television – the Super Bowl.
The 30-second commercial will air during the Super Bowl. It is reported that the exchange paid $6.5 million for it. The Super Bowl will be broadcast on February 20, 2022. This is a popular sports event that is known for its huge TV viewing figures. The Super Bowl had 96.4 million viewers this year, which is approximately one-third the American population. According to good publicity figures, the ad could be worth its cost.
Crypto.com has had a great year and has completed several major partnerships. The Associated Press announced that the. exchangeAngel City Football Club announced that it had signed a four year deal to be the team’s official NFT partner and crypto partner. Crypto.com was named a founding sponsor and partner of the new team. It plans to take advantage of this opportunity to increase awareness about crypto, blockchain, Web3 and other topics. A 20-year deal worth $700M was signed by the exchange for the naming rights to Staples Center Stadium.
Donald Trump, former US President, only wants crypto and not the dollar.
The former President of the United States Donald Trump spoke with Maria Bartiromo on Monday during Fox News’ Mornings With Maria TV show. While warning of the dangers of cryptocurrency, Trump was more supportive of Melania Trump’s NFT project.
The interview was published on Tuesday. Trump spoke about his preference to the Dollar and said he never liked crypto. Bartiromo told Trump that crypto was a very dangerous thing and could one day see an even bigger crash than the dotcom bubble collapse at the start.
He also referred to past combative comments he had made concerning digital assets such as the one he made when he was a child. remarkedIn June, crypto was deemed a scam and required heavy regulation. Trump however stated that Melania, the former First Lady, would be a great choice in her plans for launching an NFT project.
Melania announcedHer NFT venture was launched last Thursday with NFTs for 1 Solana (currently valued at $180). NFTs will be released at regular intervals with a portion going to charity. Aaron Dorfman, President of the National Committee for Responsive Philanthropy, stated that it was “a big red flag” that there is no clarity about the amount of money going to charity.
