Ghana set to catch up to Nigeria and Kenya in terms of crypto adoption: Chainalysis

As emerging markets take the lead in crypto adoption, Ghana, a country located in West Africa, may soon catch up to other African countries regarding cryptocurrency use.  In a report released by blockchain analytics platform Chainalysis, researchers found that Ghana has the potential to achieve crypto adoption levels similar to Kenya and Nigeria, countries which ranked 11th and 19th in the analytics firm’s global crypto adoption index. According to Ray Youssef, the CEO of P2P platform Paxful, the local population’s needs along with the current growth trends in Ghana show…

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China accounts for 84% of all blockchain patent applications, but there’s a catch

China accounts for 84% of all blockchain applications filed worldwide, according to the latest data shared by the country’s government official. China has steered clear of the cryptocurrency market. However, the Beijing government has been supportive of the underlying blockchain technology. The country has actively promoted the use of blockchain tech over the years, and thus the high percentage of blockchain patents isn’t surprising. President Xi Jinping has also played a key role in promoting the nascent blockchain technology. In 2019, the President called upon citizens, tech companies and stakeholders…

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It’s on! Where to catch the Ethereum Merge live

Ethereum (ETH) is heading for the most significant upgrade in its history, which is scheduled to happen at around 5:27am UTC on Sept. 15. Those wanting to watch the Ethereum network make its historic shift to proof-of-stake (PoS) in real-time will have plenty of options to choose from. The Ethereum Foundation has scheduled an Ethereum Mainnet Merge Viewing Party live stream ready to go live on YouTube around 4:00 am UTC, which is roughly an hour and a half before the estimated time of the Merge.  The Merge will take…

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Crypto assets are no longer niche and regulators need to catch up — IMF

The past few years have seen crypto assets moved from being “niche products” to having more of a mainstream presence, prompting the need for more comprehensive regulation of the space, according to the International Monetary Fund (IMF). In a new report authored by IMF capital markets director Aditya Narain and assistant director Marina Moretti, officials noted that crypto assets have firmly shifted away from being “niche products” to ones used for speculative investments, hedges against weak currencies, and payment instruments. The authors added that this, along with  recent failures of crypto…

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Built to fall? As the CBDC sun rises, stablecoins may catch a shadow

There’s a ferment brewing with regard to central bank digital currencies (CBDCs), and most people really don’t know what to expect. Varied effects seem to be bubbling up in different parts of the world.  Consider: China’s e-CNY has already been used by 200 million-plus of its citizens and a full rollout could happen as early as February — but will a digital yuan gain traction internationally? Europe’s central bank has been exploring a digital euro for several years, and the European Union could introduce a digital euro bill in 2023.…

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Ethereum price rises by 50% against Bitcoin in one month — but there’s a catch

Ether (ETH), Ethereum’s native toke, has been continuing its uptrend against Bitcoin (BTC) as euphoria around its upcoming network upgrade, “the Merge,” grows. ETH at multi-month highs against BTC On the daily chart, ETH/BTC surged to an intraday high of 0.075 on Aug. 6, following a 1.5% upside move. Meanwhile, the pair’s gains came as a part of a broader rebound trend that started a month ago at 0.049, amounting to approximately 50% gains. ETH/BTC daily price chart. Source: TradingView The ETH/BTC recovery in part has surfaced due to the…

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Uzbekistan warms up to Bitcoin mining, but there’s a catch

The National Agency of Prospective Projects (NAPP) in the 34-million nation of Uzbekistan enunciated its demands toward the crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies.  The normative act on the government page, dated June 24, prescribes the confirmation of “Guidelines on the registration of the crypto assets mining,” and sets the finalization date on July 9. The second article of the document offers an uncompromising wording: “Mining is being carried out only by the legal entity with…

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NFT ticketing may catch on faster in France after UEFA championship debacle

The disorder before the UEFA Champions League final game may lead to the widespread adoption of nonfungible tokens (NFTs) for ticketing at sports events in in France. The country previously stated that it intends to use NFT tickets during the 2023 Rugby World Cup and 2024 Paris Olympics.  Mass ticket counterfeiting was one of the causes of chaotic scene at the May 28 soccer championship. It turned into a major embarrassment for the country after police used tear gas to restore order and the match between Liverpool FC and Real…

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Japanese crypto exchanges aim to catch up with coin listings: Report

Japanese cryptocurrency exchanges are reportedly moving to increase competition with foreign crypto trading platforms by planning to simplify the process of listing new cryptocurrencies. The Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulatory body of 31 local crypto exchanges, is preparing to release a “green list” of 18 widely-accepted cryptocurrencies in late March, local news agency Nikkei reported on Tuesday. The green list aims to spare Japanese crypto exchanges from having to screen cryptocurrencies with the JVCEA each time before listing coins on their trading platforms. The digital…

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Report crowns Solana for using least energy per transaction, but there’s a catch

Solana (SOL), one of the most active proof-of-stake (PoS) blockchains, appears to be a PoS protocol consuming the lowest amount of electricity per transaction, according to a new report. The Crypto Carbon Ratings Institute (CCRI), a research startup focused on the environmental impact of cryptocurrencies, released on Wednesday a new report calculating the electricity consumption and carbon footprint of major PoS blockchains. The CCRI specifically analyzed PoS networks including Cardano, Solana, Polkadot, Avalanche, Algorand and Tezos. According to the CCRI’s findings, the Solana blockchain consumed 0.166 watt-hours (Wh) of electricity…

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