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First of a Kind: The World Stablecoin Summit Takes Place in Decentraland, on Zoom

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Over a dozen of stablecoin projects have come together this week to participate in the first-ever World Stablecoin Summit, which was streamed through multiple platforms, including Decentraland – a virtual reality world running on the Ethereum Blockchain and owned by its users. 

Image Credits: Decentraland, Alex Saunders

(Image Source: Decentraland, Credits: Alex Saunders, Nuggets News)

The event was organized by the recently created, Swiss-based World Stablecoin Association (WSA) and moderated by VirgoX CEO Adam Cai.  Cai and WSA’s co-founder, GDA Capital CEO Michael Gord headlined the event that outlined the key pillars of the WSA: Policy Analysis – to analyze the regulatory landscape of stablecoins around the world alongside research institutions, Advocacy  – to represent enterprises, stablecoin projects and other industry leaders and to expedite “the pro-stablecoin” policy-making around the globe; Partnership – to facilitate member alliances globally, and Education – to provide various learning materials online and arrange conferences and seminars.  

During his opening remarks, Adam Cai explained that the Summit will help unite business leaders, entrepreneurs, community leaders and regulators.  The need for such an organization is now more essential than ever, as the stablecoins’ combined market cap in 2020 reached $12.6B  and daily trading volume $30B+, per CryptoSlate’s data presented at the Summit. 

Michael Gord, who recently became the managing director of the XDB Foundation, shared his analysis of the stablecoin market.  Gord pointed out that not only the total number of stablecoins is rising, but also that some new categories are being created.  Gord described a number of state-backed cryptocurrency initiatives from around the world and focused on Central Bank Digital Currencies (CBDCs) adoption in various regions. 

The majority of speakers at the Summit represented various stablecoin projects, including QCAD, Stably, LODE, TrustToken and a few others. But many were especially interested to hear updates from the heavyweights, such as the largest currency-based stablecoin issuer Tether (USDT).  Tether’s Chief Compliance Officer Leonardo Real said that the company is working directly with primary market participants and focuses on transparency. Representing one of the largest China’s blockchain entities Consensus Lab, founding partner Kevin Ren said his company is fostering crypto growth around the world by supporting various promising startups and coins.  Consensus Lab is currently uniting 16 investment institutions, 6 exchanges and is managing over $1 billion, Ren said.                     

Participants were also greeted by Jean-Marc Seigneur, Director of the Certificate of Advanced Studies (CAS) on Blockchain, DLT and dApps Development at the University of Geneva.  Jean-Marc said that he recently started a Digital Currency Global Initiative together with Stanford University and also encouraged stablecoin projects to submit their use cases to International Telecommunication Union (ITU) focus group on standardization of digital currencies.    

The World Stablecoin Summit has attracted attention of some blockchain enthusiasts around the globe.  Youtube influencer Alex Saunders shared his excitement and called the Summit “a glimpse into the future”. Organizers are planning to hold the event quarterly, while the membership committee will generate monthly research projects and will host weekly roundtables.  Cai said the World Stablecoin Association has offices in Switzerland (Geneva), Canada (Toronto) and USA (NYC) and will onboard many new members in the upcoming months. 

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Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry

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The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar  (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.

“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director,  “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography.  We’re really happy to welcome them into our partnership ecosystem.”

The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement. 

Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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