The R Roundup: BMW Goes Blockchain With BNB — Issue #69
Car manufacturers have expressed interest in blockchain with the emergence of domains and several customer interaction methods using blockchain technology to enhance business-to-customer relations.
BMW has equipped itself with the necessary tools to continue its nature of sector dominance with the expression of plans to employ the BNB Chain and Coinweb as its blockchain infrastructure firm. BMW aims to launch a blockchain loyalty program and use blockchain for everyday execution.
BNB’s involvement includes finalizing transactions, while Coinweb objectifies a decentralized architecture for BMW.
Coinweb CEO added the following quote:
“Customers will be rewarded with loyalty points, and they will be able to spend within the ecosystem. Our hope is that there will be a future global rollout, but currently, our partnership is for Thailand.” — Toby Gilbert, Coinweb CEO
Japan To Reinstate Stablecoins🇯🇵
Stablecoins have taken a beating concerning their sentiment ever since the collapse of $UST; however, that didn’t stop Japan from recognizing stablecoins as digital money earlier in June. The bill had some limitations in that the stablecoins had to be backed by Yen or other Japanese legal tenders, which led to stablecoins like Tether being inaccessible.
This is set to change following reports suggesting that the Japanese Financial Services Agency intends to revert the ban on stablecoins backed by other fiat currencies like $USDT/$DAI/$USDC.
With the country already planning to expand into the Metaverse & further plans to ease crypto taxation policy, lifting the stablecoin ban could increase Japan's crypto dominance.
Microstrategy Bear Buying Bitcoin🍊
Microstrategy is no stranger to the crypto market. Its relevance during the bull market cannot be understated, with founder Micheal Saylor being seen as one of the most prevalent Bitcoin bulls.
However, the bear hasn’t seemed to shake out Microstrategy despite reporting a near $1bn loss on $BTC; they recently accumulated 2,500 Bitcoin for $41 million. This would put the firms' holdings at 132,500 $BTC, which were acquired for $4.03b.
China Launches Regulated NFT Platform🇨🇳
China hasn’t always been known to have the kindest relationship with crypto; however, as technology advances, we may see a change of stance from many of these global superpowers.
Following a province from China expressing its plans to construct a metaverse industry worth more than $28.7b by 2025, a local media publication claims that China is set to launch a regulated NFT platform on January 1st, 2023!
Starting the new year with innovation will see an NFT platform launched, created by the state-owned Chinese technology exchange, the Art Exhibitions China and Huban Digital Copyrights LTD.
The exact details of the platform are yet to be fully expressed however it will certainly be interesting to see how this advances.
Binance X Apple Pay X Google Pay 📲
Binance, which has extended its market dominance in 2022 with the fall of significant competitor FTX, has continued its #BinanceBuild initiative with a new extension to buying crypto.
The latest update allows users to buy crypto using Apple Pay and Google Pay to increase the accessibility of their services. The misconception is that purchasing crypto is a complicated process; however, Binance aims to increase mainstream adoption, with Apple Pays 43.9 million users and Google Pays 25 million users!
RR: A Year In RReview 🗓
As you may know, we LOVE giving away as much alpha & information for free as possible, which is why we recently published our Year In RReview!
2022 has been such a challenging year to keep up with the news, so we decided to aggregate all of our top news headlines into one thread for you guys.
If you have been disengaged with the markets, now is your chance to keep up with everything that happened this year.
This is a gift from us to you. We will continue putting in all the work needed to keep bringing high-level research & news to the market where we can! Crypto prices may change, but our commitment stays the same💙
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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NFA Disclaimer: https://docs.google.com/document/d/1AoWc3qanyzmzSiZFCGUaG1oiKRHmxvGj02JY3ibnIqg/edit?usp=sharing
