USDC can be exchanged over the payment network to pay for the transactions made in fiat by Visa partners.

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In fact, they are piloting this new feature on the Ethereum blockchain to clear a transaction in fiat. Visa made a statement on Monday explaining its partnership with the Ethereum platform and Crypto.com as the card issuer to have a system of crypto payment for the transaction made in fiat in the coming months.

The standards process of this payment needs a wire transfer for the fiat currency by the partners and Crypto.com would be allowed in a repetitive fashion to send USDC to an Ethereum address that belongs to Visa. This is done to clear a part of the transactions under the crypto exchange’s Visa card program and this is done by connecting the digital asset platform Anchorage with the treasury of Visa.

In this regard, Visa CPO claimed that; 

*“Crypto-native fintechs want partners who understand their business and the complexities of digital currency form factors, the announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency.”*

Visa wishes to expand this system to Fintech companies and neobanks that work with BTC, ETH, and USDC. Also, earlier this month, Visa and Crypto.com had joint forces to enhance Crypto.com’s reach of its crypto debit card.


Visa partners will be able to settle fiat transactions with crypto

Argo has teamed up with DMG blockchain and a new Bitcoin mining pool will be up and running which is powered by hydroelectric energy.

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On March 26, a Bitcoin mining pool will be launched by a cryptocurrency mining firm called Argo that has recently joined forces with DMG blockchain to create Terra Pool. Made of hash rate, this pool is for mining Bitcoin and hydroelectric power sources from both companies is utilized to do so which makes it a unique pool.

Based in the UK, Argo mines Bitcoin and Zcash in Canada and plans to extend the business to US Texas as they have bought some land there too to mine BTC with renewable energy.

Making BTC mining greener was a top priority says Argo Blockchain PLC CEO Mr. Peter Wall who wishes that others would follow their path;

*“Addressing climate change is a priority for Argo and partnering with DMG to create the first 'green' Bitcoin mining pool is an important step towards protecting our planet now and for generations to come. We are hopeful other companies within the Bitcoin mining industry follow in our footsteps to demonstrate broader climate consciousness.”*

And in this regard, chief executive of DMG Dan Reitzik maintained that;

*“[DMG’s] focus on eco-friendly Bitcoin mining has the opportunity to drive transformations in how the Bitcoin mining community acts towards a climate-conscious future. DMG's ongoing commitment to clean energy-based capital deployment is a key industry development,” said chief executive of DMG Dan Reitzik.*


Clean energy Bitcoin mining pool with Argo Blockchain

Gods Unchained will have its alpha release launched this month which will be available to double jump.tokyo (DJT) and multiple other developers.

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On March 25, DJT issued a statement about the fact that it will employ Immutable X platform for minting and trading NFTs across all its games. It’s worth mentioning that Double jump.tokyo (DJT) is the developer of My Crypto Heroes which is a well-known blockchain game.

Immutable X is the product of the Immutable team who had previously produced Gods Unchained trading card game. Immutable X wished to cut the gas fees and considers having more dynamic game mechanics.

Gods Unchained alpha version release will be available for developers like DJT and SuperfarmDAO, Illuvium and Mintable will have it in no time after DJT.

NFT market will have certain gains through this platform such as instant trading confirmations, zero gas fee, and capacity for over 9,000 transactions per second.

Immutable X scalability makes it a perfect fit for the developers of NFT says Ryo Matsubara, DJT business alliance director and he goes on and says; “Our games have done an amazing job at engaging millions of fans around the world, and those fans deserve a great, stable, fast experience.”
It can be argued that layer-two solutions to bypass the congestion and high gas fees on the Ethereum network have been desperately needed especially in the year past as DeFi and  NFTs have grown exponentially.  The first NFT-tailored platform to solve such issues is what Immutable X is all about.


layer-two scaling is the solution offered by Double jump.tokyo for NFTs

Mr. Butrin is of the idea that helping people like Elon Musk to make a profit through NFT (Non-fungible tokens) market is not using it in a proper way, yet he thinks it can be put into good use.

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The co-founder of Ethereum reckons that Social causes like funding public schools and charity deserve to be backed by NFTs rather than benefiting the already rich and believes that NFTs shouldn’t be employed when the technology is considered as a “casino that largely benefits already-wealthy celebrities.”

Mr. Butrin also thinks that assisting the rich like Tesla CEO to gain $1 more million via NFT sale is not a worthy thing to do socially.  He believes if people cooperate, NFTs could improve some parts of the communities and countries.

Public attention and resources are usually considered by most people to be legitimate said Mr. Buterin in a blog post with this title, “The Most Important Scarce Resource is Legitimacy,” and in this article, he describes legitimacy  which is a game theory  term as follows; 

A pattern of higher-order acceptance. An outcome in some social context is legitimate if the people in that social context broadly accept and play their part in enacting that outcome, and each individual person does so because they expect everyone else to do the same.”

Simply put, if people believe the fact that others would do the same if that thing benefited them individually, then all the people would act similarly. Therefore, this phenomenon can explain the roughly $500M volume of the NFT market in the past couple of months and Buterin believes that the fact that people choose to purchase a certain NFT and not the other is all about legitimacy, and in this regard he says;

*“If everyone agrees that one NFT is interesting and another NFT is lame, then people will strongly prefer buying the first, because it would have both higher value for bragging rights and personal pride in holding it, and because it could be resold for more because everyone else is thinking in the same way”.*

Buterin reprimands Elon Musk and believes that Well-known people such as Tesla CEO can have a huge impact not only on NFTs but also on the crypto market. On several occasions, he tweeted about some coins such as Bitcoin and Doge and changed their price significantly in both directions. However, he admires Jack Dorsey, Twitter CEO’s auction on the selling of his “first tweet” which was intended for charity and was sold for $2.9M.

Mr. Buterin  says if people like celebrities be the NFT focus then they do not have any social value as the money is a personal gain rather than being spent for a good cause;

*“But they could also be a missed opportunity: there is little social value in helping Elon Musk earn yet another $1 million by selling his tweet when, as far as we can tell, the money is just going to himself (and, to his credit, he eventually decided not to sell). If NFTs simply become a casino that largely benefits already-wealthy celebrities that would be a far less interesting outcome.”*

He also offered 2 potential solutions to legitimize NFT to serve as a funding mechanism for causes that promote social good. This can be done in 2 ways; through a decentralized autonomous organization which is governed by its community collective approval to approve the NFTs if they serve the aforementioned causes even if it’s a portion of the sale. Or to ask social media platforms to include NFT displays in their profile to show off their good act and persuade other users to contribute to such causes.


Vitalik Butrin criticizes how NFT is being used to makes celebrities richer

Transnational cybercrimes in the financial industry are rising and the regulators are extremely worried about such threats.

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Transactional cybercrime is surging in the US and in particular they are targeting the financial section. 

A shocking case is the one about Bob Brockman, a tech billionaire who has evaded $2 billion in taxes via encrypted devices and code words in order to keep his wire fraud, tax fraud and money laundering covered under a foreigner network and bank accounts which by itself accounts for 6.4% of the US annual deficit which had already been weakened by the COVID-19 pandemic.

Cyber Fraud Task Force (CFTF) which is the result of merging Electronic Crimes Task Force with Financial Crimes Task Force.

William Barr, who is a US attorney General, expressed his concerns in a lengthy report in the US department of justice over the cybercrimes and the fact that terrorists have begun using cryptocurrency which can vastly undermine the US and its allies endeavor to stop terrorists from receiving financial support.

This report came in when the US department of Justice and Commodity Futures Trading Commission had found Bitmex guilty and announced criminal charges against directors and all other people related to BitMEX.


The global digital financial system to be monitored by cybercrime task force

Transnational cybercrimes in the financial industry are rising and the regulators are extremely worried about such threats.