USDC replaces fiat currency settlement! ? ｜Twitter will split revenue｜Cryptocurrency News, Coin Circle Daily

Read the full version 👉LianxunCoin Circle Daily 2023.02.07｜Ten minutes to master global blockchain and cryptocurrency news

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Dear Chain Learner Readers:

A 7.8-magnitude earthquake hit Turkey yesterday, causing thousands of casualties. I hope everything is safe.

Going back to the cryptocurrency news, Visa is testing the use of "Ethereum USDC" for settlement, saying that SWIFT cannot meet the exchange needs, and the status of the US dollar as an international currency is being challenged? Musk will split ad revenue with Twitter Blue subscribers, on the road to break even?

Other cryptocurrency news today:

• The largest DeFi project on the Avalanche Chain, Trader Joe, integrated LayerZero, and JOE was transformed into a full-chain token.
• The number of patent applications related to the "Metaverse" in the United States ranks first in the world.
• There are 11 countries around the world that support the legalization of cryptocurrencies.

Today's opinion of the big guys in the currency circle, "Rich Dad. Poor Dad" author Robert. Kiyosaki believes that the U.S. dollar is fake, and Bitcoin is the "people's money"; Patrick Hansen, head of EU policy at Circle, the issuer of the U.S. dollar stablecoin USDC, uses data to illustrate that "stablecoin" is the killer of the blockchain industry application.

✨ Latest Cryptocurrency News

Goodbye dollars! Visa is testing "Ethereum USDC" settlement, saying SWIFT cannot meet exchange needs

Cuy Sheffield, head of the cryptocurrency department of the payment giant Visa, recently attended the "StarkWare Sessions 2023" event and revealed that Visa is currently testing the USDC payment settlement system on Ethereum as a potential alternative to the SWIFT international settlement system.

Sheffield mentioned that Visa has been testing how to actually accept settlement payments initiated in USDC, initiate transactions from Ethereum and settle in USDC on Ethereum, and explained that these are large payments. In particular, he noted on the global settlement of cryptocurrencies and fiat currencies:

“This is one of the areas where Visa wants to build muscle memory. Just like we can easily convert dollars into euros in cross-border transactions, we should be able to convert between stablecoins and traditional dollars.”

In addition, Sheffield also said that Visa's systems are all set up on SWIFT, so the company cannot move funds as frequently as it wants, because of the many limitations of these networks. Because of this, Visa is looking at how to incorporate blockchain technology into its network to allow users to transfer funds faster.

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Musk: Twitter is moving towards breakeven, will split advertising revenue with Twitter Blue subscribers

The encrypted community loves to use the social platform Twitter (Twitter) to come up with a new trick! CEO Musk said on February 4 that he will start sharing part of the advertising revenue with content creators , but only users who subscribe to "Twitter Blue" can get the revenue.

The detailed profit sharing ratio has not yet been announced, but it is speculated that Twitter may insert several advertisements in highly viewed, retweeted, or tweet replies (tweet strings) that are liked, as long as your tweet replies are Insert advertisements, have subscribed to "Twitter Blue" and obtain identity verification, and you can get a share.

After Musk took over Twitter, there was a wave of advertisers leaving, and many users also evacuated to other communities, seriously affecting Twitter’s revenue. In order to save revenue, in addition to massive layoffs to reduce costs, Twitter has also accelerated the development of platform payment functions , and does not rule out adding cryptocurrency services in the future, hoping to become a "universal app" (X App) and increase revenue.

On the morning of February 6, Musk expressed his feelings on Twitter, saying that the past few months have been very difficult, but Twitter has held on, and Twitter is now moving towards a balance of payments .

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The largest DeFi project on Avalanche Chain, Trader Joe, integrates LayerZero, and JOE is transformed into a full-chain token

Trader Joe, a decentralized exchange based on the Avalanche blockchain, announced the integration with the cross-chain infrastructure LayerZero, and launched JOE as an omnichain fungible token (OFT) . Users can trade in Avalanche supported by Trader Joe , Arbitrum, BNB Chain and other chains are seamlessly connected.

The concept of omnichain began with the full-chain interoperability protocol "LayerZero" developed by the Canadian company LayerZero Labs, which allows tokens to interact across multiple blockchains. ) compatible projects; unlike the cross-chain model, LayerZero’s full-chain model does not need to directly migrate or package assets to other chains. There is only a messaging layer in the protocol, and there is no intermediate layer, packaging, etc. It has instant support for any chain that supports a messaging layer, without additional trust assumptions or separate consensus.

 Blockchain knowledge The Ethereum Virtual Machine (Ethereum Virtual Machine, EVM) is an abstract machine built on the Ethereum blockchain, which simulates the same hardware and software resources as the actual physical computer through software. EVM can isolate the programs running on it from each other and from the main chain; it is beneficial for each development team to handle the computing engine for the deployment and execution of smart contracts (Smart Contract).

The so-called "EVM Compatibility" means that the new chain has created an execution environment similar to EVM at the level of processing smart contracts (application layer), which is called "EVM Compatibility" (EVM Compatibility); once it becomes " EVM compatible”, program developers on the new chain can transfer smart contracts on Ethereum to this new chain more simply and quickly, without having to rewrite the code for this new chain.

For example, the old public chain Avalanche (Avalanche), Polygon, which started as a side chain, and Binance Smart Chain (BSC), etc., are all outstanding among the "EVM compatible" blockchains.　

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The number of patent applications related to the "Metaverse" in the United States ranks first in the world

According to the " Asia Daily " report, the number of applications for "Metaverse" related patents to South Korea, the United States, Japan, China, and the European Union—collectively known as the "World's Five Patent Offices" (IP5)—between 2011 and 2020, The average annual growth rate is 16.1%. From 2016 to 2020, the number of applications filed by the above-mentioned five countries and regions is 43,698, an increase of nearly three times compared with 14,983 from 2011 to 2015.

From the perspective of the applicant's nationality, between 2011 and 2020, the United States has the most, with 17,293 (35.9%), followed by China with 14,291 (29.7%), and South Korea with 7,808 ( 16.2%).

Further reading:Seoul, South Korea launched the municipal Metaverse "Metaverse Seoul", providing social and municipal services

From the list of global applicants, Microsoft (Microsoft) ranked first with 1,437 applications, followed by IBM with 1,212 applications and Samsung Electronics (Samsung Electronics) with 1,173 applications.

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There are 11 countries in the world that support the legalization of cryptocurrencies

According to an article titled " Countries Where Bitcoin Is Legal and Illegal " by the investment knowledge portal "Investopedia", there are 11 countries in the world that support the legalization of cryptocurrencies, namely the United States, the European Union, Canada, Australia, France, and Denmark. , Germany, Japan, Switzerland, Spain, UK.

In addition, the article also identified several countries that "absolutely ban" (Absolute ban) cryptocurrency, including Qatar, Saudi Arabia, and China; as for countries with "implicit ban" (Implicit ban) include Cameroon, Central African Republic, Gabon, Lesotho, Libya, Zimbabwe, Guyana (except Guyana, the remaining 7 countries are located in Africa).

Remarks: "Implicit prohibition" refers to the prohibition of banks or other financial institutions from engaging in cryptocurrency transactions, or providing services to individuals/businesses involving cryptocurrencies.

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Spanish Rehabilitation Center Adds "Cryptocurrency Trading Addiction" Treatment Service

The Balance, a luxury rehab center in Spain, recently added a service designed to treat one of the newest types of “drug addiction” — cryptocurrency trading .

According to reports, Don, a cryptocurrency trading addict, took the initiative to contact the rehabilitation center for help, because for a while, he invested as much as $200,000 a week in trading; Don said that he slept very restlessly during his addiction and would Waking up in the wee hours to check currency prices and portfolio balances, and feeling anxious about not being able to access the internet before even catching a flight. After suffering huge losses during the market downturn in 2022, he made up his mind to seek treatment.

The Balance's rehabilitation plan is to allow customers to stay in the rehabilitation center for 4 weeks. The services include psychotherapy, massage, yoga, cycling, etc., and the total cost is as high as 75,000 US dollars... Although it is expensive, in the end Don said it helped He succeeded He succeeded in getting rid of his dependence on cryptocurrency.

The Family Addiction Specialist, an addiction counseling service, pointed out in an article that about 1% of cryptocurrency traders will experience severe pathological addictions , and up to 10% will experience other cryptocurrency investment-related issues other than financial losses. question.

Further reading: Pai.com joins hands with psychological treatment institutes to provide free psychological counseling for FTX disaster-stricken households

More exciting content not to be missed 😎 Currency Big Brother’s Viewpoint 📈 On-chain Data Analysis 🐶 Daily Currency Meme/ Meme 📝 Daily Currency Glossary|
The full text of Lianxue Daily News
https://chainee.io/2023-02-07-crypto-dailynews/

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