As part of the digital shekel project, the Bank of Israel is studying technological alternatives and the opportunities and risks inherent in various technologies for applying a digital shekel system. „This involves both theoretical analysis and practical experiments that examine the various technologies,” according to the press release. The Bank of Israel is today publishing the outline and main insights from the first technological experiment conducted as part of the project. […]
Oveit, the American company of Romanian origin that combines the experience of the events with live shopping through digital online ticketing and live stream shopping solutions, launches Oveit Wallet. The new product complements Oveit Pay, a solution already established in the company’s portfolio. Both payment technology products are appropriate for festivals, event organizers, or amusement parks, running through a company-owned blockchain system for increased payment security. Oveit Pay is a digital […]
Web3 technologies are set to open new horizons for gaming. They will unlock value created within the confines of each product. Players will be able to truly own their assets and achievements, and use them across the vast space of interoperable environments orchestrated by blockchain technology. For these spaces to finally fuse into what will be collectively known as The Metaverse, the underlying blockchain networks will have to be truly […]
an article written by João Marinotti, Indiana University In 2021, an investment firm bought 2,000 acres of real estate for about US$4 million. Normally this would not make headlines, but in this case the land was virtual. It existed only in a metaverse platform called The Sandbox. By buying 792 non-fungible tokens on the Ethereum blockchain, the firm then owned the equivalent of 1,200 city blocks. But did it? It turns out that legal ownership in the metaverse is not that simple. The […]
Digital assets might replace traditional currencies in the next five to ten years, according to 76% of the business leaders around the globe active in various industries who participated to the latest edition of the . This view is also shared by three quarters of the senior executives from the financial services industry, who believe that the end of physical money is near. Also, the study points out that the […]
The Romanian Central Bank, in a landmark decision with implications for the evolution of digital finance in Europe, has approved the acquisition of Twispay by Elrond. Twispay is a financial institution licensed to provide payment services and to issue electronic money in accordance with the legislation in force and with the authorization received from the National Bank of Romania. Moreover, Twispay is a principal member of Visa (for issuing Visa […]
Visa is partnering with ConsenSys, a blockchain technology company, to develop new infrastructure that can help central banks and traditional financial institutions come together and build services on top of CBDC (central bank digital currency) networks. As central banks around the world dig deeper into central bank digital currency (CBDC), questions on adoption and usability are top of mind. Once you’ve built the technology to power CBDC, how do you […]
In the era of Web3, payments will be fast, inexpensive and secure. „By bringing powerful DeFi mechanics into play, payment processing will no longer incur costs, but rather become income streams,” according to Elrond. With the acquisition of Utrust, Elrond sets out to accomplish two goals: Payments: make payments faster, cheaper and more secure by using internet-scale blockchain technology Merchant Yield: transform payment processing services from a cost for merchants […]