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🌐Ripple sees positive year for crypto, utility taking center stage🌐
January 12, 2023
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The top brass at San Francisco-based fintech company Ripple published a series of predictions for the cryptocurrency market in 2023 on their blog on Jan.10.

The predictions highlightedĀ utilityĀ as a critical blockchain factor in 2023 and saw a potential rise in non-fungible tokens (NFTs) and central bank digital currencies (CBDCs) this year.

Devraj Varadhan, the senior vice president of engineering atĀ Ripple, sees a broad shift in the market. Companies that use crypto solutions to address real-world issues will replace highly speculative ones.

CBDC and NFT outlook for 2023

In 2023, more non-eurozone European countries will announce CBDC trial programs, according to Sendi Young, managing director of Ripple in Europe. The firm’s executives also believe that theĀ NFT marketĀ will keep growing into more practical applications like the real estate and carbon markets.Ā 

James Wallis, VP of Central Bank Engagements, projected that 2023 would see a global spring-up ofĀ CBDC pilot initiativesĀ andĀ interoperable CBDC solutions that improve cross-border payments will also be prioritized.Ā 

The Atlantic CouncilĀ reportsĀ that 11 nations have already started their CBDC pilots, and there are currently 17 participating countries. According to the company, non-fungible tokens will also benefit from crypto utility.Ā 

Crypto adoptions and utilityĀ 

Brooks Entwistle, SVP and Managing Director of APAC at Ripple, thinks that their higher utility drives the continuous institutionalĀ adoptionĀ of blockchain and cryptocurrencies and that liquidity concerns will continue to weed out crypto firms that have relied on hype cycles.

The ā€œdot-com bubble,ā€ which demonstrated a similar scenario ofĀ rapid expansion, an inevitable crash, and industrial maturing, was brought up as a comparison between this progression and that one.

Sendi Young is also optimistic about accelerated long-term blockchain adoption by countries and institutions in 2023.Ā 

The fact that companies like Barclays, Goldman Sachs, JP Morgan,Ā Mastercard, Morgan Stanley, SBI, and Visa are all working on blockchain-related initiatives, ranging from payments and trade execution to cryptocurrency custody and trading, has already proven these projections to be accurate.

Banks no longer have to decide whether or not to have aĀ cryptocurrency strategy; instead, they must determine what that strategy will be and how they will carry it out.

Furthermore, Ken Weber, VP of Impact at Ripple, anticipated that to better assist the financially disadvantaged, bigĀ non-governmental organisationsĀ (NGOs) will begin integrating cryptocurrency.

He continued by predicting that the utility of blockchain and cryptocurrency in the carbon market will also become obvious.

Ripple’s ongoing case with the SECĀ 

According to RippleĀ chief counselĀ Stu Alderoty, the company’s ongoing dispute with the SEC will be resolved in the first half of 2023 with the result that is ā€œfavorable to Ripple.ā€

XRP is still a security today, according to the SEC’sĀ lawsuitĀ against Ripple, which was filed in December 2020.

Alderoty added that the case’sĀ verdictĀ would ā€œbe the impetus to push the US crypto industry ahead and deter corporations from offshore their crypto labor.

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Built On Stellar XLM šŸ’Ž šŸ˜‰

Blockchain adoption demands both privacy and transparency. Stellar is built for both.

@tomerweller, SDF's Chief Product Officer, shares the path to privacy on Stellar:

Dont underestimate Stellar..
This is financial advice. šŸ’Ž

00:01:01
āš ļø The entire cross-chain bridge & CEX model is built on a flawed premise āš ļø

The entire cross-chain bridge & CEX model is built on a flawed premise: custodial trust. This is a bug, not a feature.
​What if you could execute a native BTC <> native SOL (or ETH, USDC, USDT, XRP, RWAs, tokenized assers, etc.) swap with zero counterparty risk? No bridge, no CEX, no wrapped assets, not even a DEX!

​This video breaks down the P2P atomic swap architecture that makes it possible. (Thread šŸ‘‡)

https://x.com/ReggieMiddleton/status/1973467803656032281

00:02:12
In the first SEC-CFTC Joint Roundtable in 14 years, Pyth is mentioned.

āœ“ The US Dept of Commerce worked with Pyth to bring data onchain

āœ“ Institutions are using Pyth data in live trading models

Dave Olsen, from Jump Trading Group at the SEC-CFTC Joint Roundtable ā¬‡ļø

00:00:37
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

🚨The @SenFinance hearing on digital asset taxation. You can watch at the link here ā¬‡ļø

https://www.finance.senate.gov/hearings/examining-the-taxation-of-digital-assets

Yes, XRP has already been tested against African crypto regulatory frameworks for cross-border payments.āœ…

Twice.šŸ˜šŸ’Ø

This is documented below.šŸ“šŸ‘‡

OP: Smqkedqg

āš”ļøXRP TREASURY RAISE COMPLETED

Nasdaq-listed VivoPower secured $19M via a common stock. Funds to be used for focused on acquiring and long-term holding of $XRP.

https://x.com/coinbureau/status/1973639082275471457?s=19

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, ā€œThe Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.ā€

The data includes Real GDP and the PCE Price Index,Ā which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data šŸ‘‰will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain areĀ Eternl,Ā Typhon,Ā Vespr,Ā Yoroi,Ā Lace,Ā ADAlite,Ā NuFi,Ā Daedalus,Ā Gero,Ā LodeWallet,Ā Coin Wallet,Ā ADAWallet,Ā Atomic,Ā Gem Wallet,Ā TrustĀ andĀ Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention toĀ Non-CustodialĀ andĀ CompatibilityĀ fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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šŸ’³ PayPal:Ā 
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XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

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