Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 10-15-24
Good Afternoon Dinar Recaps,
IOTA UNVEILS IOTA LABS: A NEW ECOSYSTEM ARM TO PROPEL DEFI, WEB3, AND REAL-WORLD SOLUTIONS
▪️IOTA has launched a dedicated outfit to boost innovation in its ecosystem.
▪️The protocol plans to support all projects, irrespective of their technological and ecosystem leaning.
IOTA is advancing its push in the Web3 ecosystem by introducing IOTA Labs. As an independent arm of its broader ecosystem, IOTA Labs will help the protocol turbocharge its growth, drive adoption, and back innovators in Web3.
Right Time for IOTA Labs Launch
Almost every blockchain protocol, including Layer-1 and Layer-2 outfits, has a dedicated outfit to support ecosystem growth. This is essential to create useful Decentralized Applications (DApp) for the community.
According to IOTA Labs, its goal with the new outfit is modeled after the concept of Alchemy, which aims to transform the ordinary into something unique. The platform outlined five major elements of a thriving Web3 ecosystem, which will serve as a guide for its mission overall.
🎉 New @iotalabs_ account just launched! 🎉As IOTA’s new independent ecosystem arm, they’re here to fuel growth, drive adoption, and turn bold ideas into real-world solutions.
Be sure to follow them for the latest news #crypto, #DeFi & #Web3 from the #IOTA community https://t.co/VCQ8HIOC5w — IOTA (@iota) October 15, 2024
These elements include Community Building and Relationships, Developer Support and Collaboration, and Incentives to Drive Innovation. Additionally, the firm named Reliable Infrastructure for Seamless Access and Cross-Sector Collaboration to complete the top five elements.
It is worth noting that IOTA has worked effectively across all five elements in the past. As mentioned earlier in a CNF report, one research study from a Turkish University confirmed that the Tangle Protocol from IOTA is superior to other types of DLT, including traditional blockchains, for the Internet of Things (IoT). This is evident from its cross-sector collaboration and usage among innovators.
IOTA has a good track record of offering reliable infrastructure for seamless access. From powering the stablecoin market to facilitating trades across East Africa, the protocol is one of the most used blockchains for building transparent event-tracking databases.
Having played a key role in innovation over the past years, IOTA Labs is emerging to amplify cross-industry adoption. Overall, the essence of this push is to scale the IOTA ecosystem and empower its application to attain true autonomy.
The IOTA Labs Ideals: A Unified Approach
In the Web3 world, there is often fragmented innovation as everyone tries to showcase their uniqueness. As IOTA Labs noted, it is committed to supporting and enhancing every facet of the ecosystem.
Many industry investment funds are generally targeted at a specific niche. In an earlier CNF report, Aethir unveiled a $100 million fund to provide tailored support for AI and cloud gaming developers. With IOTA Labs, the fund allocation will benefit every developer, including those in gaming, Cloud services, AI, Decentralized Finance (DeFi), and driving Real-World solutions.
To begin with, IOTA Labs said it will commit $2 million as incentives in various campaigns over the next six months. As noted, besides developers, the incentive to bootstrap the IOTA Labs will also benefit users within the ecosystem.
@ Newshounds News™
Source: Crypto News Flash
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RIPPLE SWELL 2024 LIVE: CLO STUART ALDEROTY AND ADRIENNE HARRIS DISCUSS CRYPTOCURRENCY
Ripple Swell, the annual conference hosted by the payment firm Ripple, begins today in Miami, running from October 15 to 16. This event gathers Ripple’s partners and clients for discussions.
During the conference, Ripple’s General Counsel, Stuart Alderoty, shared the stage with Adrienne Harris, the chief of the New York Department of Financial Services (NYDFS).
Harris announced that the NYDFS has formed a dedicated team of approximately 60 professionals focused specifically on cryptocurrency.
Fox Business journalist Eleanor Terrett wrote on X, “Harris says the NYDFS now has a team of around 60 people focusing specifically on #crypto.”
Social media users noted an interesting coincidence as the company is currently awaiting regulatory approval from the New York Department of Financial Services (NYDFS) for this launch.
Key Insights on Digital Assets and Tokenization
Andrew Czupek, Senior Vice President and Head of Digital Assets at Northern Trust, spoke about the importance of traditional technology infrastructure in unlocking the full potential of digital assets.
He compared the current situation to the electronic trading revolution of the 1980s, explaining that mass adoption of digital assets will take time.
In a panel discussion alongside James Wallis, Graham, CEO of Archax, discussed the impact of digital ETFs on the market. He pointed out that while tokenization took a while to gain traction, it is now evident that real-world use cases are starting to emerge, with users around the globe beginning to experience the benefits.
@ Newshounds News™
Source: CoinPedia
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RIPPLE REVEALS FIRST PARTNERS FOR RLUSD STABLECOIN WITH TOP EXCHANGES AND PLATFORMS, PLANS LAUNCH ON XRP LEDGER AND ETHEREUM
▪️Ripple aims to position RLUSD as a leading stablecoin in the rapidly growing $170 billion market, focusing on regulatory compliance and utility in cross-border payments.
▪️The RLUSD stablecoin will be backed by short-term U.S. Treasuries and cash equivalents, with testing currently ongoing on the XRP Ledger and Ethereum networks.
In the latest push for its USD-pegged RLUSD stablecoin, blockchain startup Ripple announced its exchange partners and market maker partners during the Ripple Swell 2024 conference in Miami, Florida, on Tuesday.
In its official announcement, Ripple has named exchange partners such as Bitstamp, Uphold, Bitso, Independent Reserve, MoonPay, CoinMENA, and Bullish, for hosting its RLUSD stablecoin.
Similarly, its market maker partners include Keyrock and B2C2 which will provide liquidity support to the RLUSD stablecoin during the launch period.
Moreover, Ripple has appointed former FDIC chair Sheila Bair and David Puth, ex-CEO of Centre, the consortium behind USD Coin (USDC), to the advisory board for its stablecoin. Speaking on this development, Ripple CEO Brad Garlinghouse said:
With our initial exchange partners, clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins. “Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments.
Although the official date for the launch of RLUSD stablecoin is not clear, Garlinghouse said last month that it would happen in “weeks, not months” from now. He also warned users to be vigilant about any RLUSD scams and only wait for the official announcement from the firm, reported CNF.
Ripple’s RLUSD Eyes Big Pie of the Stablecoin Market
The announcement follows Ripple’s earlier plans to launch its stablecoin, aiming to capture a share of the rapidly expanding $170 billion stablecoin market.
Stablecoins play a crucial role in the crypto economy, acting as a link between traditional government-issued currencies and blockchain-based digital assets. Also, the stablecoin market is likely to grow to a trillion dollars by 2030. Thus, Ripple’s RLUSD will be pitching direct competition to giants like USDT and USDC through its institution-first approach, reported CNF.
President of Ripple Labs, Monica Long, said that the company is operationally ready from their end. Through the stablecoin, Ripple intends to capitalize on its established role in payments and serve as a crucial bridge for the tokenization of real-world assets, Long stated. In the last 24 hours, Ripple has already minted 4.5 million RLUSD stablecoins, reported CNF. Speaking on the matter, Long said:
For RLUSD and stablecoins generally, we definitely have validated the utility of them with payments. We’re also believers in this broader trend of real-world asset tokenization.
When we think beyond tokenizing money to different instruments and capital markets like securities and bonds, real estate and other assets, you need a stable coin that’s trusted and very reliable, very robustly managed for on and offramps as well.
RLUSD’s value will be supported by short-term U.S. Treasuries, dollar deposits, and cash equivalents. It is currently undergoing testing on the XRP Ledger and Ethereum networks. The company plans to publish independent monthly attestations of its reserves, which will be conducted by the San Francisco-based accounting firm BPM.
@ Newshounds News™
Source: Crypto News Flash
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🌍 NAVIGATING FINANCIAL UNCERTAINTY: PROTECT YOUR 401(K) AND ASSETS! Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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