Richard Luftig’s Post

Hey Sobat BBID! 🌍 Big news coming your way! ZORIXchange, the licensed crypto exchange making waves in Europe, has just announced a strategic partnership with Coresky. This isn't just any partnership. It's a collaboration set to mentor and incubate the most promising blockchain projects out there. 🚀 Founded by David Pan, ZORIX isn't just about transactions; it's about transforming the crypto industry. 🔄 With a clear mission to address the gaps in the industry and a robust community of 100k Sob, they're here to change the game. Offering services in multiple currencies, a whopping daily trading volume of 13.9M USDT, and gearing up for the launch of its Initial Exchange Offering (IEO) and Staking features in Q4 2023, ZORIX is all about making crypto accessible for everyone. Plus with the option of digital or physical debit cards, convenience is at your fingertips. 💳🌐 Their recent event collaboration with Bloc Bash in Singapore, themed "Embrace the Dare to Dream," was a testament to their vision. 🌌 David Pan emphasized the importance of legitimacy and compliance, and with their strategic MOU with Coresky, the future looks bright for blockchain projects. 🌠 Now imagine if ZORIX also got licensed in Indonesia. 🇮🇩 The benefits? For the Indonesian Government, it would mean a boost in regulatory oversight, ensuring a safer and more transparent crypto environment. For our Sobat BBID, the Indonesian crypto traders and investors, it would mean access to a trusted platform with a proven track record, enhancing trading experiences and offering more investment opportunities. 💹 In a nutshell, ZORIX is more than just an exchange. It's a movement, bridging compliance gaps and making crypto accessible for all. So stay tuned Sob, because the future of crypto looks bright! 🌞 Highlights Summary: - ZORIX, a European licensed crypto exchange, announces partnership with CORESKY. - Significant angel investment from diverse sectors, including a Malaysian listed company. - ZORIX's mission: to be a compliance-focused crypto exchange addressing industry gaps. - Active community of 100k, offering fiat-to-crypto services in USD, EUR, and GBP. - Daily trading volume of 13.9M USDT, gearing up for IEO and Staking features in Q4 2023. - Collaboration with BLOC BASH for the official launch. - Emphasis on legitimacy and compliance in the crypto landscape. - Strategic MOU with Coresky for mentoring and incubating blockchain projects. - Community partnership with SFBX, expanding to Japanese and Korean markets. - Option for users to have digital or physical debit cards. #blockchain #Crypto #Kripto #Bitcoin #Ethereum #CEX #DEX #FIAT #Stablecoin #USDT #Solana #Cardano #Ripple #Token2049 *Note: This post is for informational purposes only and not financial advice. Always do your research.*📚

Many thanks to DMCC Crypto Centre for hosting the first No Pitch Tech Round Table where we met as individuals, without representing our companies, to discuss the major trends happening in the industry. The conversation continues this Friday from 2 to 4 PM. Limited seats available. Eventbrite event will be published soon. Discussion Points from last Friday: 1. Global Adoption: - Noted rise in adoption in South America. - Brazil's government has started issuing crypto licenses. - Rankings based on adoption and holdings:   • Nigeria and Turkey are #1 in terms of adoption rate.   • Brazil ranks within the top 10 for percentage holdings.   • In the UAE, 30% of the population holds cryptocurrency. 2. Trading: - Mention of robot trading through BitGap. - Binance has started flagging certain accounts, requiring a source of funds to avoid scams. - 80% of traders exit the trading scene within their first two years. 3. Services & Platforms: - Interaction with Tornado cash has been banned across several platforms. - Machine Learning can predict market behaviors with an accuracy of 85% or more. - The potential of the ERC6960 in turning illiquid assets like collectible cars into liquid assets. 4. Corporate Involvement & Data: - There's an initial excitement from corporations about storing data on the blockchain, but it wanes once the implications are understood. - The question of transparency vs. privacy in terms of adoption was raised. 5. Gaming & Web3: - Gaming could act as the "Trojan Horse" for web3 adoption. - There's a concern about new audiences who are primarily interested in monetization, as it could go against the gaming spirit. - It was highlighted that monetization exists even in Web2 games, such as gold trading in World of War Craft. 6. Web Integration & Evolution: - Debated on whether Web3 needs to replace Web2 or if Web2 can simply incorporate Web3 features to enhance its efficiency. - Smart wallets were discussed as a means to simplify blockchain complexities. 7. Practical Applications & Innovations: - Potential applications of blockchain in areas like medical records and licenses. - Off-chain tokens could shield these records. - RWA (Real World Assets) that do not need government approval may lead the path. However, a gap exists between potential and implementation, especially in areas where private firms can move faster. 8. Environment & Carbon Offsetting: - Blockchain could potentially solve the double accounting issue in carbon offsetting. - Mention of a Netflix documentary focusing on this double accounting problem. 9. AI & Blockchain Synergy: - The potential of AI in detecting patterns, aiding decisions, and generating smart contract code was acknowledged. - The combination could have predicted and saved users, for instance, if FTX was being monitored. - The question "What can blockchain do for AI?" was found particularly intriguing due to its potential in biometric recognition.  

Lessons from Eigenlayer's Stakedrop Saga in the Crypto Space 🚀📉 In the fast-paced world of cryptocurrency, few events go unnoticed, especially when they involve significant players like Eigenlayer. Recently, Eigenlayer, Ethereum's second-largest protocol, made headlines with its announcement of a stakedrop. However, what was intended as a strategic move to engage the community and bolster participation has instead sparked controversy and raised pertinent questions about transparency and fairness within the DeFi ecosystem. The Stakedrop Details: 📊 Eigen Foundation's decision to allocate 15% of EIGEN's token supply to the community seemed promising at first glance. However, the inclusion of a non-transferable token structure and aggressive geo-restrictions left many stakeholders feeling marginalized and frustrated. The imbalance in token allocation, with only 5% reserved for early users from Season One, further exacerbated tensions. Snapshot Surprise and Suspicious Activity: 🕵️♂️ The unexpected snapshot taken on March 15, 2024, caught stakers off-guard, leading to accusations of a lack of transparency and fairness. Moreover, reports of suspicious wallet activity, particularly a surge in movement just before and after the snapshot, fueled allegations of insider trading. Such incidents raise concerns about the integrity of the stakedrop process and the safeguarding of investor interests. Geo-Restrictions and Community Reactions: ���🚫 Eigenlayer's initial allowance of deposits from users in banned jurisdictions, later revealing their ineligibility for stakedrop rewards, underscored a glaring lack of accountability. This, coupled with overwhelmingly negative reactions from the community, reflects a broader sentiment of distrust and dissatisfaction. Users' concerns over perceived rigged elements, unfair token allocations, and high fees highlight the importance of fostering transparency and fostering trust within the crypto community. A Stark Warning Against Misleading Jargon: 🔍 Emin Gün Sirer's critique of projects like Eigenlayer emphasizes the need for clarity and transparency in blockchain innovations. The use of complex jargon, he warns, can obscure substantive progress and mislead stakeholders about a project's true potential and utility. This serves as a timely reminder that real innovation should prioritize simplicity and clarity. The Implications for the DeFi Sector: 💡⚠️ Eigenlayer's stakedrop strategy, if mishandled, risks undermining trust across all restaking platforms. Prolonged lock-up periods, minimal returns, and the acceptance of deposits from banned jurisdictions signal potential instability within the broader DeFi ecosystem. 🔗 Moving forward, the entire DeFi sector must learn from these events and strive for greater accountability and clarity in all community engagements and announcements. 🔄📈 Abhay Mishra Abhay Tandon Anuj Kumar Haedarah Ali Saumya Singh

MiCA: Are European crypto firms ready? 🤔 As the cryptocurrency industry continues to grow and evolve, regulators are working to develop policies and regulations that protect consumers and encourage innovation. One of the most promising regulatory frameworks currently under consideration is the Markets in Crypto Assets (MiCA). Therefore, we'll explore the enormous potential of the MiCA and what it could mean for the future of the cryptocurrency industry. The MiCA regulation, which was introduced by the European Commission in September 2020, aims to establish a comprehensive regulatory framework for crypto assets, including cryptocurrencies, stablecoins, and utility tokens (excluded: security tokens and true NFTs). Consequently, the future regulation includes provisions for licensing requirements, conduct of business rules, and governance standards for crypto asset service providers. One of the most significant benefits of MiCA is that it would create a level playing field for crypto asset service providers operating within the European Union. Proof of this it will establish clear regulatory standards, MiCA would help to promote competition and innovation within the industry while also protecting consumers from fraud and other forms of misconduct. Another key feature of the regulation is that it would help to promote cross-border activities and transactions. Consequently, under the proposed regulation, crypto asset service providers would be able to offer their services throughout the EU without the need for additional licenses or authorizations in each member state. This would help to reduce regulatory fragmentation and promote a more cohesive European market for crypto assets. However, MiCA is not without its challenges. Some critics have argued that the proposed regulation could stifle innovation and hinder the development of new technologies and business models within the cryptocurrency industry. Nevertheless, others have raised concerns about the potential impact of the regulation on smaller players in the market, who may struggle to comply with the regulatory requirements. Despite these challenges, the potential benefits of the regulation are too significant to ignore. By the same token with a clear and comprehensive regulatory framework for the cryptocurrency industry, MiCA could help to unlock the full potential of this exciting ecosystem. In conclusion, MiCA has the potential to be a game-changer for the cryptocurrency industry, so it will create a level playing field for crypto-asset service providers and promoting cross-border activities and transactions. As a rule, this new regulation could help to unlock the full potential of this new emerging (DLT) technology. Ready, Steady, Go! 🏃♂️💨 “I said, ooh, I'm blinded by the lights No, I can't sleep until I feel your touch I said, ooh, I'm drowning in the night Oh, when I'm like this, you're the one I trust…” 🎶 ☀️😴☕️🍫

MiCA: Are European crypto firms ready? 🤔🇪🇺 As the cryptocurrency industry continues to grow and evolve, regulators are working to develop policies and regulations that protect consumers and encourage innovation. One of the most promising regulatory frameworks currently under consideration is the Markets in Crypto Assets (MiCA). Therefore, we'll explore the enormous potential of the MiCA and what it could mean for the future of the cryptocurrency industry. The MiCA regulation, which was introduced by the European Commission in September 2020, aims to establish a comprehensive regulatory framework for crypto assets, including cryptocurrencies, stablecoins, and utility tokens (excluded: security tokens and true NFTs). Consequently, the future regulation includes provisions for licensing requirements, conduct of business rules, and governance standards for crypto asset service providers. One of the most significant benefits of MiCA is that it would create a level playing field for crypto asset service providers operating within the European Union. Proof of this it will establish clear regulatory standards, MiCA would help to promote competition and innovation within the industry while also protecting consumers from fraud and other forms of misconduct. Another key feature of the regulation is that it would help to promote cross-border activities and transactions. Consequently, under the proposed regulation, crypto asset service providers would be able to offer their services throughout the EU without the need for additional licenses or authorizations in each member state. This would help to reduce regulatory fragmentation and promote a more cohesive European market for crypto assets. However, MiCA is not without its challenges. Some critics have argued that the proposed regulation could stifle innovation and hinder the development of new technologies and business models within the cryptocurrency industry. Nevertheless, others have raised concerns about the potential impact of the regulation on smaller players in the market, who may struggle to comply with the regulatory requirements. Despite these challenges, the potential benefits of the regulation are too significant to ignore. By the same token with a clear and comprehensive regulatory framework for the cryptocurrency industry, MiCA could help to unlock the full potential of this exciting ecosystem. In conclusion, MiCA has the potential to be a game-changer for the cryptocurrency industry, so it will create a level playing field for crypto-asset service providers and promoting cross-border activities and transactions. As a rule, this new regulation could help to unlock the full potential of this new emerging (DLT) technology. Ready, Steady, Go! 🏃♂️💨 “I said, ooh, I'm blinded by the lights No, I can't sleep until I feel your touch I said, ooh, I'm drowning in the night Oh, when I'm like this, you're the one I trust…” 🎶 ☀️🚗☕️🧊😴

MiCA: Are European crypto firms ready? 🤔🇪��� As the cryptocurrency industry continues to grow and evolve, regulators are working to develop policies and regulations that protect consumers and encourage innovation. One of the most promising regulatory frameworks currently under consideration is the Markets in Crypto Assets (MiCA). Therefore, we'll explore the enormous potential of the MiCA and what it could mean for the future of the cryptocurrency industry. The MiCA regulation, which was introduced by the European Commission in September 2020, aims to establish a comprehensive regulatory framework for crypto assets, including cryptocurrencies, stablecoins, and utility tokens (excluded: security tokens and true NFTs). Consequently, the future regulation includes provisions for licensing requirements, conduct of business rules, and governance standards for crypto asset service providers. One of the most significant benefits of MiCA is that it would create a level playing field for crypto asset service providers operating within the European Union. Proof of this it will establish clear regulatory standards, MiCA would help to promote competition and innovation within the industry while also protecting consumers from fraud and other forms of misconduct. Another key feature of the regulation is that it would help to promote cross-border activities and transactions. Consequently, under the proposed regulation, crypto asset service providers would be able to offer their services throughout the EU without the need for additional licenses or authorizations in each member state. This would help to reduce regulatory fragmentation and promote a more cohesive European market for crypto assets. However, MiCA is not without its challenges. Some critics have argued that the proposed regulation could stifle innovation and hinder the development of new technologies and business models within the cryptocurrency industry. Nevertheless, others have raised concerns about the potential impact of the regulation on smaller players in the market, who may struggle to comply with the regulatory requirements. Despite these challenges, the potential benefits of the regulation are too significant to ignore. By the same token with a clear and comprehensive regulatory framework for the cryptocurrency industry, MiCA could help to unlock the full potential of this exciting ecosystem. In conclusion, MiCA has the potential to be a game-changer for the cryptocurrency industry, so it will create a level playing field for crypto-asset service providers and promoting cross-border activities and transactions. As a rule, this new regulation could help to unlock the full potential of this new emerging (DLT) technology. Ready, Steady, Go! 🏃♂️💨 “I said, ooh, I'm blinded by the lights No, I can't sleep until I feel your touch I said, ooh, I'm drowning in the night Oh, when I'm like this, you're the one I trust…” 🎶 ☀️🚗☕️🧊😴

MiCA: Are European crypto firms ready? 🤔 As the cryptocurrency industry continues to grow and evolve, regulators are working to develop policies and regulations that protect consumers and encourage innovation. One of the most promising regulatory frameworks currently under consideration is the Markets in Crypto Assets (MiCA). Therefore, we'll explore the enormous potential of the MiCA and what it could mean for the future of the cryptocurrency industry. The MiCA regulation, which was introduced by the European Commission in September 2020, aims to establish a comprehensive regulatory framework for crypto assets, including cryptocurrencies, stablecoins, and utility tokens (excluded: security tokens and true NFTs). Consequently, the future regulation includes provisions for licensing requirements, conduct of business rules, and governance standards for crypto asset service providers. One of the most significant benefits of MiCA is that it would create a level playing field for crypto asset service providers operating within the European Union. Proof of this it will establish clear regulatory standards, MiCA would help to promote competition and innovation within the industry while also protecting consumers from fraud and other forms of misconduct. Another key feature of the regulation is that it would help to promote cross-border activities and transactions. Consequently, under the proposed regulation, crypto asset service providers would be able to offer their services throughout the EU without the need for additional licenses or authorizations in each member state. This would help to reduce regulatory fragmentation and promote a more cohesive European market for crypto assets. However, MiCA is not without its challenges. Some critics have argued that the proposed regulation could stifle innovation and hinder the development of new technologies and business models within the cryptocurrency industry. Nevertheless, others have raised concerns about the potential impact of the regulation on smaller players in the market, who may struggle to comply with the regulatory requirements. Despite these challenges, the potential benefits of the regulation are too significant to ignore. By the same token with a clear and comprehensive regulatory framework for the cryptocurrency industry, MiCA could help to unlock the full potential of this exciting ecosystem. In conclusion, MiCA has the potential to be a game-changer for the cryptocurrency industry, so it will create a level playing field for crypto-asset service providers and promoting cross-border activities and transactions. As a rule, this new regulation could help to unlock the full potential of this new emerging (DLT) technology. Ready, Steady, Go! 🏃♂️💨 “I said, ooh, I'm blinded by the lights No, I can't sleep until I feel your touch I said, ooh, I'm drowning in the night Oh, when I'm like this, you're the one I trust…” 🎶 ☀️😴☕️🍫

🚀 Bitcoin Soars, SEC's Peirce Pushes for Innovation, & Prometheum Tests Regulations: A Big Week for Crypto! 💡🔍 1️⃣ Bitcoin's Stellar Leap 📈: Bitcoin surged beyond $47,000, reaching a one-month high, buoyed by steady inflows into a series of United States funds and increased focus on the upcoming halving in April. 🌕 With a year-to-date increase of 11%, Bitcoin outpaces even the largest tech stocks. Nine US spot Bitcoin ETFs launched on January 11, enhancing the token's investor base. Despite a $6 billion outflow from the Grayscale Bitcoin Trust, the trend is slowing. Experts suggest Bitcoin's rise will continue, potentially surpassing $50,000 soon, driven by the halving event. 💰 Past halvings have led to significant price increases. Bitcoin's journey remains a watchful one, especially as it remains about $22,000 below its 2021 peak. 2️⃣ Hester Peirce's Vision for Crypto 🏛️: U.S. Securities and Exchange Commission commissioner, Hester Peirce, advocates for a revised Token Safe Harbor Proposal, emphasizing the need for a version 3.0 to foster crypto innovation in the United States. 🇺🇸 With 74% of crypto developers based outside North America, Peirce highlights the need for clear regulations to prevent talent migration and encourage innovation within the U.S. crypto sector. Her commitment to developing a legal framework that balances crypto-skeptics' concerns with innovators' needs shines a hopeful light on the future of blockchain development. 3️⃣ Prometheum's Regulatory Challenge ⚖️: At the forefront of a pivotal moment in cryptocurrency regulation, Prometheum is testing the waters with its registration with the U.S. Securities and Exchange Commission (SEC). This move is a litmus test for both the company and the broader crypto industry, challenging the longstanding debate on crypto's alignment with stringent SEC requirements. The outcome could redefine the regulatory landscape for digital assets in the U.S., particularly for Ethereum (ETH), and set a precedent for future classifications. 🧐 The industry watches closely as Prometheum's next steps could impact the regulatory approach toward cryptocurrencies. --------------- 🌟 Download the EnlightMe app for more Crypto News ➡️ https://lnkd.in/dESWNncw 🎧 Or tune into our Innovation Pulse podcast on Spotify: https://lnkd.in/d9cWuJuV #EnlightMe #enlightmenews #TechNews #Innovation #CryptoNews #Blockchain #Bitcoin #Ethereum #SEC #Cryptocurrency #Innovation #Regulation #Finance #Technology #CryptoCommunity #DigitalAssets #Investment #BitcoinETF #CryptoRegulation #TechNews

BITPACS: Emulating DAO in Bitcoin https://lnkd.in/dKiJFnTr I wished to share some ideas on a seemingly missed innovation that got here to Bitcoin over the past 12 months, known as Bitpacs. Bitpac stands for Bitcoin-Primarily based Publicly Auditable Cooperative. Bitpacs are primarily common bitcoin multi-signature wallets with the added introduction of public auditability. Historically, in a multi-signature setup, the multi-signature individuals are usually not revealed. In a multisig Bitpac, individuals are deliberately made public, permitting for clear auditability. With this transparency, it’s potential to create distinctive options, instruments, guidelines, and transactions. Bitpacs' purpose is to emulate the acquainted DAO expertise on different chains. DAOs are marketed as Decentralized Autonomous Organizations. Nevertheless, Ethereum and different altcoin-based DAOs solely inherit the “decentralization” of their chain, so they won’t be as decentralized as the identical expertise constructed on Bitcoin. DAOs are additionally not autonomous, as people management and form the choices they make. Bitpac's definition is a extra trustworthy rationalization of the expertise concerned and I believe it would ultimately be a greater expertise for customers. Why ought to bitcoiners care about DAOs? As of February 18, 2024, DAOs on Ethereum have over $35 billion in treasury funds. There have been tens of millions of DAO voters and proposal creators, and tons of of tens of millions of {dollars} in transactions have been made by means of DAO governance. (supply) There’s a clear demand for on-chain governance and neighborhood administration, Bitpacs permits this to come back to Bitcoin. How can Bitpacs really work? Whereas Bitpacs don’t immediately use good contracts on the Bitcoin blockchain, they obtain DAO-like performance by means of a mixture of multi-signature wallets and thoroughly designed Bitcoin transactions. The buildings potential with this cowl most of what a DAO does: Multisig ensures that nobody has unilateral management of Bitpac funds, requiring a quorum threshold to spend something. Signature thresholds that mandate what number of signatures are wanted to finalize a transaction (3 out of 5 or 6 out of 10, for instance) can alter the required voting thresholds in line with the necessities outlined by the Bitpac consensus. Time limitations could also be utilized to voting rounds, ending the signing course of for proposals that haven’t met a signature threshold on the finish of the voting interval. Bitpacs membership primarily based on sure standards might be carried out on the platform degree, akin to distinctive belongings held, bitcoins contributed to treasury, or identified pockets addresses, all of which might be verified on-chain. All of those dynamics that can not be enforced by means of Bitcoin scripts

BITPACS: Emulating DAO in Bitcoin https://lnkd.in/db5x9HUs I wished to share some ideas on a seemingly missed innovation that got here to Bitcoin during the last yr, referred to as Bitpacs. Bitpac stands for Bitcoin-Based mostly Publicly Auditable Cooperative. Bitpacs are basically common bitcoin multi-signature wallets with the added introduction of public auditability. Historically, in a multi-signature setup, the multi-signature individuals should not revealed. In a multisig Bitpac, individuals are deliberately made public, permitting for clear auditability. With this transparency, it’s attainable to create distinctive options, instruments, guidelines, and transactions. Bitpacs' objective is to emulate the acquainted DAO expertise on different chains. DAOs are marketed as Decentralized Autonomous Organizations. Nevertheless, Ethereum and different altcoin-based DAOs solely inherit the “decentralization” of their chain, so they won’t be as decentralized as the identical expertise constructed on Bitcoin. DAOs are additionally not autonomous, as people management and form the selections they make. Bitpac's definition is a extra sincere rationalization of the expertise concerned and I feel it is going to ultimately be a greater expertise for customers. Why ought to bitcoiners care about DAOs? As of February 18, 2024, DAOs on Ethereum have over $35 billion in treasury funds. There have been tens of millions of DAO voters and proposal creators, and tons of of tens of millions of {dollars} in transactions have been made by DAO governance. (supply) There’s a clear demand for on-chain governance and group administration, Bitpacs permits this to come back to Bitcoin. How can Bitpacs truly work? Whereas Bitpacs don’t straight use sensible contracts on the Bitcoin blockchain, they obtain DAO-like performance by a mixture of multi-signature wallets and thoroughly designed Bitcoin transactions. The constructions attainable with this cowl most of what a DAO does: Multisig ensures that nobody has unilateral management of Bitpac funds, requiring a quorum threshold to spend something. Signature thresholds that mandate what number of signatures are wanted to finalize a transaction (3 out of 5 or 6 out of 10, for instance) can regulate the required voting thresholds in keeping with the necessities outlined by the Bitpac consensus. Time limitations could also be utilized to voting rounds, ending the signing course of for proposals that haven’t met a signature threshold on the finish of the voting interval. Bitpacs membership primarily based on sure standards will be performed on the platform degree, similar to distinctive belongings held, bitcoins contributed to treasury, or identified pockets addresses, all of which will be verified on-chain. All of those dynamics that can’t be enforced by Bitcoin scripts or pre-signed