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"Welcome to Web3 with FTC For February 9th by Fintech Confidential, the place where we keep you up-to-date on the latest developments in the world of Web3, Crypto, Blockchain, NFTs, and Fintech.
"Get ready for some fresh and thrilling insights on the crypto and blockchain world right here on Web3 with FTC! No more stale, regurgitated stories, we've got the hottest and newest updates for you."
Top stories for today.
1️⃣ Brazil Empowers Prosecutors and Police to Confiscate Crypto
2️⃣ Yuga Labs Settles With RR/BAYC Coder in Trademark Infringement Suit
3️⃣ Binance Temporarily Suspends U.S. Dollar Bank Transfers
4️⃣ File-Sharing Giant WeTransfer Teams up with Blockchain Platform Minima for Mobile NFT Solution
5️⃣ A New Way for Damus to Go: METAVERTU's Decentralized App Store
6️⃣ Digital Pound: A New Way to Pay
7️⃣ Algorand Foundation Partners with T-Hub and SEWA in India to Drive Web3 Growth
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This is a production of Diamond D3 Media, with All Rights Reserved. This is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. We strive to provide accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
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Transcripts
,,,,,,,,,,,,,,,,,,,,,,;;;;;;;;;;;;;;;;;;;;;;; " Tedd Huff - 002: Support provided
Speaker:customer support software for your business.
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Speaker:"Welcome to Web3 with FTC by Fintech Confidential, the place where we
Speaker:keep you up-to-date on the latest developments in world of Web3,
Speaker:Crypto, Blockchain, NFTs, and Fintech.
Speaker:"Get ready for some fresh and thrilling insights on the crypto and blockchain
Speaker:world, right here on Web3 with FTC!
Speaker:No more stale, regurgitated stories, we've got the hottest
Speaker:and newest updates for you."
Speaker:You won't believe what the Brazilian government is up to!
Speaker:They're on a mission to confiscate crypto and control the crypto-sphere
Speaker:with their new superpowers.
Speaker:It's like they're ready to take on crypto-crime in a cape and tights!
Speaker:And we have a little legal drama too.
Speaker:In a battle against the internet provocateur, Ryder Ripps, Yuga Labs
Speaker:has reached a settlement with one of Ripps' collaborators, Thomas Lehman.
Speaker:But don't worry, Ripps is still in the game and ready for round two.
Speaker:We also take a look at the recent suspension of U.S.
Speaker:dollar bank transfers on Binance, but no need to panic!
Speaker:The company says all other methods of buying and selling
Speaker:crypto remain unaffected.
Speaker:So, sit back, relax and enjoy the show!
Speaker:Next up, we have the partnership between WeTransfer and Minima.
Speaker:This dynamic duo is set to revolutionize the file-sharing
Speaker:industry with their NFT technology.
Speaker:Directly from your mobile phone, you'll be able to create NFTs and be a part
Speaker:of this exciting new development.
Speaker:As we explore the world of decentralized apps with METASPACE.
Speaker:This app store has the potential to change the game and provide a
Speaker:solution for decentralized apps to thrive in the Web 3.0 ecosystem.
Speaker:So, let's break the centralized hegemony and welcome Damus to METASPACE!
Speaker:We also have some exciting news from Algorand Foundation, after the appointment
Speaker:of Anil Kakani as India Country Head With his mission "built around sustainable
Speaker:impact," Anil is ready to bring the power of blockchain to India and beyond!
Speaker:And speaking of exciting developments, have you heard about Britcoin?
Speaker:This new way to pay could be a game-changer for the payments
Speaker:industry and is being considered by the Bank of England and Treasury.
Speaker:But don't worry, cash is still king, and Britcoin is just a
Speaker:new and exciting alternative.
Speaker:Stay here for the rest of the story, right here on Web3 with FTC."
Speaker:The Brazilian government is set to give new powers to its prosecutors, courts,
Speaker:and police officers to confiscate crypto.
Speaker:The Federal Public Ministry, MPF has drafted a "guide" for law enforcement
Speaker:and presented it to the Criminal Chamber and dedicated crypto units.
Speaker:The MPF highlighted the growing relevance of crypto in the legal sphere
Speaker:and wants to receive feedback from law enforcement, tax officials, and
Speaker:prosecution officers as soon as possible.
Speaker:The Criminal Chamber oversees the nation's prosecution service, and if it approves
Speaker:the proposal, the guidelines could be immediately adopted by prosecutors
Speaker:investigating crypto-related cases.
Speaker:The Attorney General believes there is an urgent need to create national guidelines.
Speaker:The Deputy Attorney General, Carlos Frederico Santos, was quoted saying
Speaker:that the guidelines will allow for greater efficiency in the prosecution
Speaker:of crimes involving crypto assets.
Speaker:The MPF is also preparing a compendium of resources and providing crypto-specific
Speaker:training sessions for MPF officials and law enforcement agents to increase
Speaker:their understanding of crypto assets.
Speaker:The public prosecutors' council created a crypto regulations working group in
Speaker:November to train police officers and prosecution officials to fight crypto
Speaker:scams and crypto-powered corruption.
Speaker:The MPF also founded a Special Unit for Crypto assets, which has been tasked
Speaker:with investigating crypto crimes and studying crypto-related technology.
Speaker:This move by the Brazilian government to grant new powers to confiscate
Speaker:crypto is part of their effort to control the crypto space.
Speaker:With the growing relevance of crypto in the legal sphere, it's clear that
Speaker:the government wants to be prepared and have the necessary resources to
Speaker:prosecute crimes involving crypto assets.
Speaker:The central bank has also launched a similar task force
Speaker:to explore the possibility of regulating the tokenization space.
Speaker:Next up
Speaker:Yuga Labs, the $4 billion company behind the NFT brand Bored Ape Yacht Club, B A Y
Speaker:C, has reached a settlement in its ongoing legal battle against conceptual artist
Speaker:and internet provocateur Ryder Ripps.
Speaker:The company has settled with Thomas Lehman, one of Ripps' collaborators, after
Speaker:suing him for trademark infringement.
Speaker:The legal battle between Yuga Labs and Ryder Ripps began after Ripps
Speaker:circulated allegations that Bored Ape Yacht Club NFTs contained
Speaker:hidden pro-Nazi and racist imagery.
Speaker:Ripps then sold a copycat collection of 10,000 Bored Ape NFTs, claiming it
Speaker:was a political and artistic statement.
Speaker:Yuga Labs sued Ripps in a Southern California federal court for
Speaker:trademark infringement last June.
Speaker:Lehman, a developer who assisted Ripps in creating the smart contract for
Speaker:the RR/BAYC project, took home 15% of the profits from the collection,
Speaker:which did some $1.6 million in sales.
Speaker:The terms of Lehman's settlement with Yuga Labs are confidential, but he has
Speaker:conceded to Yuga's ownership of the BAYC trademark and that he infringed on
Speaker:those marks as part of his participation in the R R / B A Y C project.
Speaker:Although the settlement is a victory for Yuga Labs, it has not yet impacted
Speaker:Ripps' suit as the two cases were filed in separate federal jurisdictions.
Speaker:Further, Lehman's work on the R R / B A Y C project was mainly technical and
Speaker:peripheral to the project's creative and allegedly political mission.
Speaker:Yuga Labs has reached a settlement with Thomas Lehman, one of Ryder
Speaker:Ripps' collaborators, in the ongoing legal battle against the conceptual
Speaker:artist and internet provocateur.
Speaker:The terms of the settlement are confidential, but Lehman has conceded to
Speaker:Yuga's ownership of the B A Y C trademark.
Speaker:The case against Ripps is still ongoing and remains separate from Lehman's case.
Speaker:The world’s largest cryptocurrency exchange, Binance, has temporarily
Speaker:suspended all US dollar bank transfers starting on February 8th.
Speaker:A Binance spokesperson stated that only 0.01% of the company’s monthly
Speaker:active users used USD bank transfers.
Speaker:Affected customers have been directly notified.
Speaker:Despite the suspension, customers can still buy and sell crypto through
Speaker:various methods, including bank transfers in other fiat currencies such
Speaker:as euros, as well as through credit and debit cards, Google Pay, Apple
Speaker:Pay, and the Binance P2P marketplace.
Speaker:Binance US, a subsidiary of Binance, is not affected by the
Speaker:suspension, according to a tweet from Binance US Customer Support.
Speaker:Data from Arkham Intelligence showed a sharp spike in outflows from Binance’s
Speaker:crypto wallets, with millions of dollar-pegged stablecoins flowing to
Speaker:rival exchanges or individual wallets.
Speaker:However, Binance stated that they are still net-positive on net deposits and
Speaker:the outflows are a result of users taking profits following a bullish market swing.
Speaker:Binance's exchange token, B N B, was largely unaffected by the news
Speaker:and held steady at around $328.
Speaker:The Binance representative stated that the small number of affected
Speaker:customers will have a new partner to announce in the next couple of weeks.
Speaker:While the suspension of US dollar bank transfers may inconvenience
Speaker:a small number of Binance users, the company has emphasized that
Speaker:all other methods of buying and selling crypto remain unaffected.
Speaker:Binance is working to restart the service as soon as possible and will provide
Speaker:updates for the affected customers.
Speaker:We Transfer, the popular digital file-sharing service, has announced a
Speaker:partnership with blockchain platform Minima to launch non-fungible
Speaker:tokens, NFTs, on the network.
Speaker:This innovative collaboration will allow users to create NFTs directly from their
Speaker:mobile phones, and is set to explore the practical use of NFT technology and
Speaker:its potential for widespread adoption.
Speaker:Minima is a layer 1 blockchain and peer-to-peer network
Speaker:optimized for mobile use.
Speaker:With its ultra-lean protocol, users can run a full constructing
Speaker:and validating node, creating a fully decentralized network.
Speaker:The blockchain uses the Minima coin as its native currency,
Speaker:enabling peer-to-peer transfers without the need for a third party.
Speaker:The partnership with We Transfer will allow users of the blockchain
Speaker:to "share their digital assets and efficiently collect revenue".
Speaker:This collaboration will investigate the actual application of NFT
Speaker:software and demonstrate its potential for wider adoption.
Speaker:Minima's decentralized peer-to-peer system is completely governed by its users and is
Speaker:set to go live in 180 countries in March.
Speaker:The company is pioneering blockchain decentralization by completely building
Speaker:and verifying nodes distributed worldwide on phones and connected devices.
Speaker:We Transfer, on the other hand, has several excellent security mechanisms
Speaker:in place to protect users' data.
Speaker:The platform uses TLS cryptography for documents in transit, AES 256-bit security
Speaker:for stored documents, and two-factor verification for enrolled account holders.
Speaker:The partnership between We Transfer and Minima is set to bring a new level of
Speaker:innovation to the file-sharing industry.
Speaker:By allowing users to create NFTs directly from their mobile phones and providing
Speaker:a secure and decentralized platform, this collaboration is a testament to
Speaker:the potential of NFT technology and its potential for widespread adoption.
Speaker:With Minima's system set to go live in March, it will be exciting to
Speaker:see the impact this partnership will have on the industry.
Speaker:The recently launched decentralized social media platform, Damus, backed
Speaker:by Jack Dorsey, has faced challenges with its censorship-resistant nature.
Speaker:Despite being banned in China and removed from the Apple App Store, Damus
Speaker:has found a solution with Metavertu's decentralized app store, Metaspace.
Speaker:Damus was designed as a decentralized alternative to Twitter and was built
Speaker:on Nostr, an open-source internet protocol based on cryptographic keypairs.
Speaker:The platform boasts various features, such as being fully decentralized,
Speaker:encrypted, and programmable.
Speaker:Users are in control and have end-to-end encrypted private
Speaker:messaging, and there is no need for registration or infrastructure.
Speaker:The platform operates without servers and is censorship resistant.
Speaker:Additionally, users can earn money on the platform by tipping
Speaker:friends' posts with Bitcoin.
Speaker:Despite its impressive features, Damus has faced challenges with centralization.
Speaker:Apple's App Store in China banned the app due to a violation of national
Speaker:speech laws, and the company's stance on decentralization and
Speaker:cryptocurrencies has been unfriendly.
Speaker:China, a mainly authoritarian state, censors activists, journalists,
Speaker:and critics of its government's policies, and Damus was not
Speaker:immune to these strict policies.
Speaker:Recognizing the need for decentralization, Metavertu' has stepped
Speaker:in to offer a solution for dApps.
Speaker:Metavertu' is the world's first actual Web 3.0 phone, explicitly
Speaker:built for encryption, and comes with pre-installed software to
Speaker:help users navigate the metaverse.
Speaker:To support dApps, Metavertu created Metaspace, a completely
Speaker:decentralized app store, and welcomed Damus to join their project.
Speaker:Metaspace is "totally decentralized, digitally sovereign, super
Speaker:secure and free and open."
Speaker:Metavertu's decentralized app store may be the answer to Damus' problems
Speaker:and the future of decentralized apps.
Speaker:The need for decentralization is growing, and Metaspace provides a solution for
Speaker:dApps to thrive in the Web 3.0 ecosystem.
Speaker:Let's break the centralized hegemony and welcome Damus to Metaspace.
Speaker:The Algorand Foundation, the organization behind the world’s most advanced and
Speaker:secure layer-1 blockchain, has announced important partnerships in India
Speaker:aimed at growing the Web3 ecosystem.
Speaker:India, set to surpass China as the world’s most populous country this
Speaker:year, represents a huge opportunity for Algorand to support employment
Speaker:opportunities and solutions that serve the country's diverse population.
Speaker:The first partnership is with T-Hub, India's premier innovation hub, which
Speaker:supports startups and established companies looking to build high-impact,
Speaker:scalable blockchain solutions.
Speaker:T-Hub is committed to fostering a Web3 ecosystem, and its partnership with
Speaker:Algorand is evidence of this, helping the ecosystem to scale globally and
Speaker:access capital from around the world.
Speaker:Algorand has also joined forces with Jawaharlal Nehru Technological
Speaker:University Hyderabad and the Indian School of Business to launch faculty
Speaker:development programs, student developer training, and a master class series
Speaker:for companies looking to transition critical business processes to Web3.
Speaker:In addition, Algorand will act as a technology partner for the new $50
Speaker:million Global Climate Resilience Fund, launched by the Clinton Foundation
Speaker:and its Clinton Global Initiative, with SEWA as a founding partner.
Speaker:The fund will help women micro-entrepreneurs address climate
Speaker:change and connect with carbon markets to monetize carbon credits.
Speaker:Algorand will support women-led enterprises building solutions to
Speaker:increase financial inclusion and empower SEWA members and low-income working
Speaker:women across India through business accelerator programs and seed investments.
Speaker:Algorand Foundation CEO Staci Warden and former U.S.
Speaker:Secretary of State Hillary Rodham Clinton were in Ahmedabad to celebrate
Speaker:the launch of the fund and demonstrate their commitment to ensuring
Speaker:blockchain technology creates a more inclusive economy in India and beyond.
Speaker:Anil Kakani, recently appointed as India Country Head for Algorand, sees
Speaker:India as poised to become a leader in the future of Web3, with thousands
Speaker:of students learning to build on Algorand's technology and create
Speaker:world-changing products and services.
Speaker:The Bank of England and Treasury's Digital Pound is A Modern Take on Payments.
Speaker:They plan to create a digital currency, dubbed "Britcoin," that could change
Speaker:the way UK pays for goods and services.
Speaker:This new form of currency has the potential to revolutionize the UK payment
Speaker:industry, but what exactly is Britcoin and how will it impact our daily lives?
Speaker:The Bank of England and Treasury are proposing a new digital currency,
Speaker:Britcoin, which would be backed by the government and the Bank of England.
Speaker:This digital currency would be a new way to pay for goods and services,
Speaker:but it wouldn't replace cash.
Speaker:In other words, you could still use banknotes and coins if you wanted to.
Speaker:The digital pound would be built on blockchain technology
Speaker:and stored on a digital wallet.
Speaker:Unlike cryptocurrencies like Bitcoin, Britcoin would be tied to the pound,
Speaker:making it a so-called stablecoin.
Speaker:That means that its value would be stable, just like banknotes, with
Speaker:£10 in Britcoin digital pounds having the same value as a £10 banknote.
Speaker:Britcoin would be accessible through digital wallets on smartphones or
Speaker:smartcards, and these wallets would likely be provided by private companies.
Speaker:There could be restrictions on how much of the currency any individual
Speaker:or business could hold, and the Treasury has indicated that any
Speaker:digital pound would exist alongside, not replace, cash and bank deposits.
Speaker:The idea behind Britcoin is that central bank digital money could
Speaker:be used for everyday transactions, running alongside the existing payments
Speaker:system dominated by banks and payment giants like Visa and Mastercard.
Speaker:The joint consultation paper from the Bank of England and Treasury is expected
Speaker:to drop on February 7th, and they are seeking feedback on whether and how to
Speaker:proceed with creating a digital pound:
Speaker:Britcoin has the potential to be a game-changer for the payments industry,
Speaker:providing a new way to pay that is trusted, accessible, and easy to use.
Speaker:The Bank of England and Treasury are carefully considering the implications
Speaker:of a digital pound, and it's important for the public to provide feedback
Speaker:on this exciting new development.
Speaker:If all goes according to plan, we could see the digital pound in
Speaker:circulation by 2025, so stay tuned for more updates and developments.
Speaker:As we wrap up today's episode of Web3 with FTC by Fintech Confidential, remember
Speaker:that cash is still here to stay, but Britcoin could provide a new and exciting
Speaker:alternative to traditional payments.
Speaker:Thank you for joining us on this journey to discover the future of payments.
Speaker:we've covered some of the biggest Web3 stories that are shaking up the
Speaker:Web3 world and what they mean for you.
Speaker:From BritCoin to Bored Apes to Binance bank issues to Decetralized Social
Speaker:Media and NFT transfers , we've explored the impact these events
Speaker:are having on the industry and what you can expect in the future.
Speaker:Thanks for tuning into “Web3 with FTC”, where we cover what’s behind the
Speaker:disruptive and innovative world of Web3, Blockchain, Crypto, NFTs and Fintech.
Speaker:And remember to follow us on our Telegram Channel, Linkedin, Facebook,
Speaker:and Instagram, and sign up for the latest news delivered straight to your inbox at
Speaker:access dot fintech confidential dot com.
Speaker:Support Provided By Solve path:
Speaker:get the best A.I.
Speaker:customer support software for your business.
Speaker:Get Started at www.
Speaker:get S O L V P A T H dot com
Speaker:The most common cause of bad customer experience Isn't that high
Speaker:tech it's embarrassingly simple.
Speaker:Yup.
Speaker:It's asking the right questions and reviewing some key data points
Speaker:before delivering an answer.
Speaker:Increasing the likelihood of satisfying the customer and
Speaker:delivering a swift resolution.
Speaker:In ecommerce, it's really easy to get bogged down with basic support inquiries,
Speaker:whether that's where is my package, how do I return or exchange this item
Speaker:or just to cancel a subscription.
Speaker:And so what is Solvpath?
Speaker:I n a nutshell, Solvpath is an A.I.-driven customer support system
Speaker:that uses a visual format and self-serve technology to quickly and effectively
Speaker:resolve issues, resulting in satisfying support experiences for customers.
Speaker:Customize a visual support experience for your ecommerce brands and
Speaker:increase your overall performance, enhance the customer experience and
Speaker:drastically reduce support costs.
Speaker:Get the best customer support system for your business.
Speaker:Get Solvpath.
Speaker:Get started by visiting get solve path dot com
Emily:This has been a production of Diamond D3 Media,
Emily:with All Rights Reserved.
Emily:This is provided for informational purposes only.
Emily:It is not offered or intended to be used as legal, tax, investment,
Emily:financial, or other advice.
Emily:We strive to provide accurate and up-to-date information, but will
Emily:not be responsible for any missing facts or inaccurate information.
Emily:You comply and understand that you should use any of this
Emily:information at your own risk.
Emily:Cryptocurrencies are highly volatile financial assets, so research and
