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Enterprise blockchain firm R3 seeks investors or sale – report
17 hours ago
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Yesterday Bloomberg reported that enterprise blockchain firm R3 has held early talks with representatives of Ava Labs (affiliated with Avalanche), the Solana Foundation and Adhara about a potential minority investment in the firm, joint venture or outright sale. R3’s Corda DLT is one of the most widely used enterprise blockchains. The company declined to comment on the Bloomberg report.

R3 has a high profile list of backers including several systemically important banks. They include HSBC, Bank of America, Wells Fargo, Barclays, UBS, ING and Itaü Unibanco who were amongst 40 firms that participated in a $107 million funding round in 2017. The following year it raised an additional $5 million from forex central counterparty CLS. Since then it hasn’t announced a formal funding round, but the company had a hefty windfall estimated at around $240 million in 2019 from 👉 XRP crypto tokens.

R3 had an agreement with Ripple to promote Ripple to R3’s banking clients. As payment it received options over XRP tokens. The two firms fell out over the deal but eventually settled. While the size of the settlement was never announced, we estimated the value of the XRP involved was at least $240 million.

Meanwhile, a year ago R3 confirmed a round of layoffs. In the last few months there have been further team changes with the departure of so “He continueme senior employees. Founding CTO Richard Gendal Brown now only works for the firm part-time.s to play a pivotal advisory role to the CEO and the R3 Operating Committee, as well as continuing to represent R3,” a spokesperson told Ledger Insights.

One of the biggest enterprise blockchains

The company’s Corda DLT is one of the most widely used permissioned blockchains in the institutional sector with more than 60 live solutions. These include the SIX Digital Exchange which hosts the Swiss National Bank’s wholesale CBDC, Euroclear’s D-FMI tokenization platform and collateral mobility firm HQLAᵡ. The collateral firm is backed by BNP Paribas, Deutsche Börse, Goldman Sachs, HSBC, JP Morgan, UBS and others.

Another example is Japan’s Progmat security token platform, founded by MUFG, whose investors include NTT Data, SMBC, Mizuho, SBI and others. NTT Data is also involved in another high profile initiative – it helped the Italian banking association, ABI Lab, develop Spunta which is used for nightly interbank reconciliations by around 100 banks.

Bloomberg reported that some of the high profile Corda projects had shuttered. That’s true, but the same can be said across all of the major blockchains, both permissioned and permissionless. It’s the nature of innovation.

In the early days Corda made significant headway in insurance and trade finance, with two major projects in each sector. Insurance consortium B3i shuttered in 2022, and The Institute’s RiskStream insurance blockchain initiative pivoted away from Corda when it failed to raise a major funding round. Last year saw the close of two major trade finance joint ventures, Marco Polo and Contour.

The lure of permissionless blockchains

The lure of crypto and public blockchains has encouraged some firms to hedge their bets by adopting Ethereum-compatible Hyperledger Besu, which can be used as a permissioned enterprise blockchain or on the permissionless Ethereum network. The drawback is that Besu’s privacy is weaker than other enterprise blockchains, especially Corda and Canton. For example, Brazil’s CBDC project DREX adopted Besu and has been delayed while the central bank continues to analyze the development progress of privacy solutions.

Meanwhile, sources told Ledger Insights that the London Stock Exchange switched its preferred technology from Corda to Besu. That said, the stock exchange hasn’t yet launched any production DLT projects.

In future, blockchain networks are likely to be more open, but some applications will remain on permissioned blockchains. Client facing applications are more likely to be on permissionless chains, often including a layer of permissions within the token’s smart contracts.

In a sign of convergence, some layer 2 public blockchains are essentially permissioned chains. Certain public chains, including Avalanche, support permissioned sub-networks.

Despite this news, R3 continues to land major new projects. For example, it was recently selected as one of the main technology providers for the Regulated Liability Network (RLN), the tokenization collaboration involving the big UK banks, led by UK Finance. The RLN is one of many projects that make up the current institutional push to embrace tokenization in the traditional financial markets.

 

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💥 Ripple CEO: US Will Be “More Pro-Crypto” Following Election 💥

Ripple Labs (XRP) Ceo Brad Garlinghouse claims that the US will be far “more pro-crypto” following the upcoming US election this November. “This is the most important election we’ve had, but I also believe no matter what happens, we’re going to have a more pro-crypto, more pro-innovation Congress than we’ve ever had,” he said in a Wednesday interview with CNBC.

The upcoming election will be a defining moment for the United States’ future with cryptocurrency. Both Kamala Harris and Donald Trump have issued stances on cryptocurrency, with the latter speaking far more supportive of the digital asset industry. “Obviously, Trump came out early and very aggressively in a pro-crypto [way] and said he’s the crypto president,” Garlinghouse added. “Team Harris have been more nuanced. This week, they had some of the most constructive things they have said publicly.”

While the cryptocurrency sector was a mute spectator in the 2012 and 2016 election cycles, it is a part of the ...

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🔥 0G introduces first decentralized AI operating system 🔥
0G's new system enhances data handling across AI and DeFi sectors.

Key Takeaways

  • 0G has rebranded to focus on a decentralized AI operating system.
  • The system separates data storage and computation for various AI applications.

0G, formerly known for its modular AI blockchain, has rebranded as the first Decentralized AI Operating System (dAIOS).

0G leverages blockchain technology to coordinate decentralized resources, including storage, computation, and data availability. This decentralized structure allows AI applications to operate transparently and securely on-chain, ensuring users retain control over their data.

The 0G system has three main components: 0G Storage for managing large data sets, 0G Data Availability for verification data, and 0G Serving for model inference, data retrieval, and training. 

These modular components enable flexible integration with various AI workflows by decoupling functions like data storage, availability, and computation. 

0G’s infrastructure supports a range of use cases, including AI, DeFi, gaming, and Layer 2 and Layer 3 solutions. For example, in gaming, it provides cryptographic proof and metadata storage, while in DeFi, it ensures efficient settlement and data storage for financial operations. 

0G has also partnered with rollup projects such as Arbitrum and Optimism to enhance data availability and storage.

 

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Coinbase expects AI agents and humans to transact using crypto
The convergence of AI and blockchain could transform the economy, with Coinbase highlighting crypto's role in AI-driven transactions.

Key Takeaways:

  • Coinbase predicts crypto will power transactions between AI agents and humans.
  • AI agents will streamline transactions and agreements by autonomously creating and executing smart contracts.

Coinbase has unveiled a new report discussing the growing intersection of crypto and AI, predicting that both AI agents and humans will increasingly use crypto for transactions. 

The report suggests that as AI technology advances, autonomous agents will drive economic activity, with crypto becoming the preferred payment method for handling tasks and transactions in the digital economy.

This shift is seen as a key element in the emergence of the Agentic Web, a future digital ecosystem where AI-driven interactions dominate the economy

According to Coinbase’s analysis, the use of crypto in AI agent-to-human and agent-to-agent transactions will become more widespread due to its borderless nature, efficiency, and programmability. 

These characteristics make crypto ideally suited for handling microtransactions, paying for decentralized computing resources, and facilitating economic interactions in real-time. 

As AI agents become more autonomous, the use of self-custody wallets and stablecoins will allow them to seamlessly transact with both humans and other agents, powering the future of decentralized commerce.

Additionally, the rise of AI-generated software code, including smart contracts, will further strengthen the role of crypto in the digital economy. 

AI agents will be able to create and execute smart contracts, enabling more efficient and cost-effective processes for transactions and agreements. 

This development could lead to a Cambrian explosion of onchain applications, where AI drives the creation of decentralized apps that streamline and personalize user experiences.

This idea of AI agents has been gaining significant traction not only as AI models become more sophisticated but also with the creation of AI agents like Computer Use, which Anthropic unveiled this week. 

Additionally, the AI bot Truth Terminal sparked interest in driving the rise of the GOAT meme coin token, further highlighting the growing influence of autonomous agents in the digital economy.

 

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🔥 Jaw-Dropping Rogan-Trump Interview Crushes Kamala Harris Campaign 🔥
 

Donald Trump just accomplished what Kamala Harris never could—take unscripted questions from Joe Rogan and answer them directly and clearly.

The conversation started with a bang as Rogan shed light on shocking footage from Trump’s 2015 appearance on The View.

You won't believe how well the cast treated him, as Barbara Walters refers to Trump as a “friend.”

JOE ROGAN: “Watch this...This is literally bonkers.”

BARBARA WALTERS: “Please welcome my friend, Donald Trump.”

JOE ROGAN: “Watch this. Just watch this. This is nuts. We're in an alternative universe, okay? Because this is not that long ago.”

Minutes later, in a moment of self-reflection, Trump told Rogan that his “biggest mistake” in his first term was appointing some “bad people” to his administration.

This includes National Security Advisor John Bolton and White House Chief of Staff John Kelly.

Trump revealed that the presidency involves around 10,000 federal appointments, including 100 major ones.

Now that Trump has seen the swamp with his own eyes and familiarized himself with Washington, he has much higher confidence that his future picks would better serve the American people.

Rogan, who has not historically been a Trump fan, started dishing out compliments to the former president, telling him that the reason why he's so popular is because he's genuine and doesn't speak in “bullsh*t, pre-prepared politician lingo.”

Rogan pointed to the glorious moment when Trump told Hillary Clinton to her face, “You'd be in jail.”

He explained, “One of the beautiful things about you is that you freeball. Like you get out, and you do these huge events, and you’re just talking. We’ve highlighted you on the show many times when you did this Biden impression where he’s walking around, doesn’t know what he’s doing. It’s funny, it’s stand-up, it’s funny stuff.”

 

“And you were making fun of Elon one time; you were doing an Elon impression. It’s great. You have comedic instincts. Like when you said to Hillary, ‘You’d be in jail.’ It’s great timing. But it’s like that kind of stuff was unheard of as a politician. Like no one had done that.”

Elon Musk then entered the conversation, as Trump marveled at his brilliant mind, saying that he’s “the greatest guy” and is so smart that he must be “from a different planet.

Trump was stunned the moment Musk's Starship rocket defied all odds, landing precisely on its designated pad after a groundbreaking test flight.

Trump was on the phone with an “important guy” when he watched it happen and asked, “Who else can do that?”

“Nobody,” he replied. “Russia can’t do it. The United States. Nobody can do it.”

The conversation took a serious turn when Joe Rogan pointed out that “a lot of weirdness” happened in the 2020 election, “particularly with mail-in ballots.”

He appropriately mentioned that before 2020, it was “common“ to question the election results because “no one thinks [election fraud] is 0%.”

“I've never met one person—not a super liberal progressive, far-left person, or a right-wing conservative—not one person thinks it's zero percent,” Rogan said.

Responding to Kamala Harris comparing Trump to Hitler, he blasted the vice president, calling her “a very low IQ person.”

Trump held so much confidence in Kamala’s lack of intelligence that he challenged her to prove otherwise by taking an IQ test, pointing out that she completely fell apart during her softball interview with Anderson Cooper.

“She took two days off, and she studied and studied all day long, and then she comes out with a result. That was a real embarrassment,” Trump bashed.

Rogan dropped a viral take when he declared that Republicans are now “punk rock” and “the rebels” of society.

“You want to be punk rock? You want to buck the system?” Rogan asked. “You are conservative now,” he confidently stated.

 

“The liberals are now pro-silencing criticism. They are pro-censorship. They talk about regulating free speech. It's bananas to watch," Rogan lamented.

Trump didn’t hesitate to announce that he is “completely committed” to having Robert Kennedy Jr. in his administration.

He even came prepared with a chart that shows America's life expectancy is DROPPING while other countries don't have the same problem.

Trump revealed that his only concern about Kennedy is his environmental views.

“The only thing I want to be a little careful about with him is the environmental [stuff] because he doesn’t like oil. I love oil and gas,” Trump said with a smile.

 

“Just keep him out of that!” Rogan replied. “There’s plenty of good work that could be done if you focus on health.”

Going further, Trump outed Big Pharma and revealed that they were “not thrilled” when they heard RFK Jr. would be joining the Trump administration.

This moment came when Rogan asked Trump, “Do you have anyone that is pressuring you to not work with him?”—to which Trump replied with a clear “Yes.”

“That [life expectancy] chart is a terrible chart. It's such a bad chart when you look at where we are compared to other countries that don't spend 10 cents [per dollar we do] ... But yeah. I've had some people that aren't exactly thrilled,” Trump said.

Some viewers were left stunned as Rogan agreed with Trump that there were at least two undeniable instances of election interference in 2020.

The first one was the Russia collusion hoax, where it was purported that Trump was a “Russian asset.”

The major instance of election interference was the Hunter Biden laptop story. Twitter 1.0 removed links to the story, while 51 former intelligence agents dismissed it as “Russian disinformation.”

“And the only reason why they got away with this lie was because they continually labeled you as this horrible threat to democracy and Hitler,” Rogan said.

 

“They kept saying you were going to be a dictator, ignoring the fact that you weren't a dictator for the four years when you were actually the president.”

The most hilarious moment of the night dropped when Trump candidly asked Rogan, “Can you imagine Kamala doing this show?”

Rogan replied, "I could imagine her doing this show," but Trump pushed back, insisting that if Kamala dared to engage in an unscripted three-hour conversation, she'd be lying on the floor unconscious, needing a medic.

Democrats suffered a devastating blow when Rogan concluded that the “only thing that makes sense” for why Dem politicians would oppose voter ID is becausethey want to cheat.”

A shocking new Gallup poll recently showed that 84% of Americans support requiring photo ID to vote.

This includes 67% of Democrats who support the measure.

Meanwhile, Dem politicians strongly oppose voter IDs, which tells you that they care more about cheating than secure elections.

Trump broadcasted a major move, announcing that the JFK files would be released “almost immediately” when he takes office.

Rogan probed Trump about why he never opened them up during his first term, and Trump responded that certain people “asked [him] not to do it.”

“I can't tell you whether or not they're going to find anything of interest... But I was asked not to do it, and I thought that was a reasonable ask. But now I'm going to do it. I'm going to do it very soon,” Trump said.

The conversation took an interesting turn when Rogan asked Trump if he believes aliens exist, to which Trump replied, “There's no reason not to.”

Trump told Rogan, “I interviewed jet pilots that were solid people... And they said, ‘We saw things that were very strange, like a round ball. But it wasn't a comet or a meteor. It was something. And it was going four times faster than an F-22,’ which is a very fast plane.”

In the final moments, Trump asked, “How long have we been talking?” Rogan’s producer, Jamie, revealed it had been a whopping three hours.

With a speech looming, Trump told Rogan, “It’s been an honor,” calling him a “fascinating guy” and promising, “We’ll do it again.”

“I’m going to make a great speech, and I’m going to say, if I’m a little off tonight, I’m going to blame you,” Trump quipped.

With a big smile, he said with astonishment, “I spoke to this guy for three hours.”

Here is the full interview between Joe Rogan and President Donald John Trump:
 
 
 
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