Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-8-24
Good Morning Dinar Recaps,
IOTA NEWS: COULD IOTA BE THE NEXT BIG PLAYER IN THE STABLECOIN ARENA?
▪️IOTA’s decentralized technology could serve as the foundation for a compliant stablecoin.
▪️The Trade and Logistics Information Pipeline enables secure and efficient exchange of electronic trade documents.
With Europe’s Markets in Crypto-Assets (MiCA) regulations reshaping the crypto landscape, IOTA’s decentralized and scalable technology could position itself as the foundation for a new, compliant stablecoin. IOTA’s feeless and efficient framework makes it an intriguing candidate in the search for the next big player in digital assets.
The launch of MiCA marks a new dawn of regulation in the EU crypto market, which will lead to a more accountable industry. This regulation addresses issues relating to digital assets in a bid to protect the consumer and ensure the stability of the market.
With platforms like Coinbase recently delisting the non-compliant stablecoins, the regulatory change paves the way for new entrants. Could IOTA fill this gap?
IOTA’s Tangle technology enables feeless, instant, and scalable transactions, which will be suitable for a stablecoin designed to function under the MiCA regulation. Such a network is capable of processing many transactions without congesting the network or incurring any costs, which could position it as a stablecoin giant.
How IOTA’s Technology Could Drive Stablecoin Efficiency
At the core of IOTA’s ecosystem is its Trade and Logistics Information Pipeline (TLIP). This decentralized platform is already responsible for securing global trade through the exchange of immutable data. The same principles could be applied to a stablecoin to guarantee the stability, openness, and effectiveness of digital transactions.
TLIP has played a big role in expanding the footprint of IOTA in the African region, especially in the trade industry. The system enables participants to exchange electronic trade documents including export declarations and airway bills safely and effectively.
The TLIP model demonstrates that IOTA can cut costs by half and make cross-border transactions up to 80% cheaper. This can mean huge savings in the stablecoin ecosystem and could be useful for industries looking for effective yet cheap financial tools.
Could IOTA’s Stablecoin Revolutionize Global Trade?
A MiCA-compliant stablecoin issued on the IOTA network could transform the world’s payments system through secure and efficient transactions.
Similarly, TLIP enhances the visibility and effectiveness of logistics, and stablecoin could enhance cross-border payments through quicker and more transparent systems. IOTA’s decentralized approach, coupled with MiCA’s legal certainty, sets the stage for the creation of a safe and sustainable stablecoin.
Collaborations with organizations like Tide Protocol have been instrumental in developing the IOTA EVM ecosystem and providing key technological advancements.
Furthermore, the collaborations between IOTA and Digimarc, as well as IOTA and Agro2Circular, implement environmental stewardship by mitigating agricultural plastic waste using the DPP.
In addition, IOTA has partnered with the European Commission to develop a new IPR management system that applies DLT, NFTs, and smart contracts. It is worth noting IOTA’s Total Value Locked (TVL) recently surpassed $5 million.
@ Newshounds News™
Source: Crypto News Flash
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U.S. GOVERNMENT SET TO AUCTION $4.4 BILLION IN BITCOIN AFTER MAJOR LEGAL WIN!
The U.S. Supreme Court has put an end to the legal battle over 69,370 Bitcoin that were seized from the Silk Road dark web marketplace. These BTC are worth around $4.4 billion.
By refusing to accept the case, the Court opened the way for the U.S. government to sell these bitcoin. Let’s explore what happened and what to expect next.
Battle Born’s Claim Falls Short
The legal tussle centered around a claim from Battle Born Investments, a company that argued it had legitimate rights to the seized Bitcoin. They built their case on the idea that they acquired the assets through a bankruptcy estate tied to a man named Raymond Ngan.
Battle Born believed that Ngan was the infamous “Individual X,” a hacker who had stolen Bitcoin from Silk Road before surrendering the stolen funds to the authorities. However, the federal and appellate courts dismissed these claims.
The Dark Web and the Bitcoin Connection
To help you understand the significance of this matter, let’s share a summary of this 2013 Silk Road case. Ross Ulbricht founded the SIlk Road platform in 2011 which was infamous as a hub for illegal activities.
The Tor network hosted the website, where people could buy anything illegal, from drugs to weapons, by paying in Bitcoin. At its peak, the Silk Road had millions of dollars in transactions. In 2013, the FBI shut down the marketplace and arrested Ulbricht.
The seized Bitcoin, tied to transactions on the platform, remained with the government, leading to this moment. Adding another twist to the tale, the IRS later traced several btc transactions to “Individual X,” the hacker who stole Bitcoin from Silk Road before authorities shut it down.
The U.S. government eventually seized those funds in what has become the largest cryptocurrency seizure to date.
What’s Next for the Seized Bitcoin?
Now that the Supreme Court has refused to hear the case, the U.S. government can sell the seized BTC. The U.S. Marshals Service would be overseeing the sale.
Some of the funds have already been moved to Coinbase Prime. Looks like they are ready to auction the bitcoin. This sale can bring broader implications not just for the crypto market but for the U.S. political environment.
During the Bitcoin Conference 2024 at Nashville, Presidential candidate Donald Trump has shared his plans regarding these seized Bitcoin. He shared his idea to use the seized btc to create a “strategic bitcoin reserve” for the U.S. He suggested the current administration to hold bitcoin instead of selling it like the German government.
@ Newshounds News™
Source: Coinpedia
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RIPPLE XRP HOLDERS THEY WANT TO END THE MIDDLE CLASS - SHOCKING UPDATE | Youtube
@ Newshounds News™
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🌍 WHICH COUNTRIES ARE WINNING THE CRYPTO RACE? | 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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