Blockchain
H.E. Justin Sun Discusses the Seamless Web3 Future
Geneva, Switzerland–(Newsfile Corp. – September 19, 2022) – H.E. Justin Sun, Founder of TRON, spoke about the Seamless Web3 Future at Binance Blockchain Week in Paris. Sun was the key speaker at one of the most anticipated panel discussions with Eowyn Chen, CEO of Trust Wallet, and Jorn Lambert, Chief Digital Officer of Mastercard. The panel discussed important topics such as Web3 and its universal definition, key tools, critical issues, safety concerns, and other pressing matters concerning the industry’s future.
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The discussion on Web3 and its technical definition kicked off the conversation. All panelists agreed that Web3 was already here, but mainstream adoption of Web3 is what will lead to the creation of more use cases. While Chen and Lambert expressed interests similar to Sun, Chen expanded upon Sun’s future vision of what Web3 is and what it could become.
Sun expanded on key tools to help create a more seamless Web3 experience, such as digital wallets, revenue and reward tools, and more efficient logistics and supply chain operations. Sun proceeded to discuss the unique utility and tools that stablecoins can provide and how Trust Wallet, MasterCard, and TRON can work together on improving the user experience of payment protocols. Lambert followed up by discussing how tooling in Web3 can help current Web2 businesses to scale more efficiently by conducting the right amount of UX research. User optimization is essential and must be done correctly for mass adoption to allow companies to scale.
Mass adoption was a consistent talking point, and the panelists had varying opinions. Sun’s main topics focused on education and creating digestible content for users. Your Web3 experience is similar to your “gaming experience,” this is critical when addressing “ways to help mainstream crypto adoption.” Chen led her response with this statement and concluded that the best way to educate users is by utilizing social media and a proper UX needs to be established by product designers to make them frictionless. Lambert focused on how security is vital for mass adoption to occur so that users aren’t “looking over their shoulder” as they navigate the Web3 space. Sun later responded with how important it is to be wary of scammers that will come about and addressed the concept of protocols and major institutions to help fight against this by filtering out scammers and verifying real users by implementing Know-Your-Customer policies.
The panel also discussed the aspect of security and safety as an essential part of Web3, maybe even the most significant. Helping create a chain agnostic ecosystem can help bring vibrant projects with fewer barriers of entry for them to succeed, which offers more users that these projects can attract. Another key theme echoed was the importance of regulations.
Making sure governments regulate the crypto space properly can help speed up the growth of blockchain technology. To assure protection in an anonymous digital environment, users can utilize frictionless and easy-to-use payment protocols that won’t allow them to connect their crypto wallets on non-verifiable NFTs or marketplaces. Lambert continued the discussion on security by inspiring developers to find pragmatic solutions. Sun alluded to UI/UX being important for protocols to adopt to continue with efforts toward creating a more secure ecosystem. Sun also conveyed the importance of adopting other infrastructure platforms like Etherscan to help validate transactions properly. Chen focuses on working with large layer-1 blockchains to help with creating proper compliance and by using Artificial Intelligence to audit smart contracts properly. She suggested a civil society political theory and believes blockchain ecosystems will similarly become more educated and “civilized” organically, allowing fewer scammers to be successful and much more infrastructure to be feasible.
Lastly, the panel members talked about the current situation with Web3 and what projects are leading the space. Sun brought up the diverse qualities that different types of projects can bring and led with finance-based protocols followed by DAOs, GameFi, NFTs, and educational platforms which have paved the way for the current landscape of Web3. Lambert mentioned that “commerce makes the world go round,” It is imperative to create verification protocols that allow safe and verifiable physical transfers from user to user. Chen agreed with this concept and added that the industry must establish a specific level of trust for these transactions to occur. Sun agreed with the other panelists and added that institutions must hire the right people who understand the heart of this issue, establish this level of trust for users, and communicate educational content properly.
The panelists agree with pushing toward privacy, security, and more robust verification methods that will allow users to feel safe with their money and identity. Sun concluded his panel discussion on the exponential adoption of crypto due to its decentralization and utilization and how Web3 must continue to stay decentralized to reach its full potential.
About TRON DAO
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2022, it has over 111 million total user accounts on the blockchain, more than 3.8 billion total transactions, and over $13.2 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.
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Media Contact
Feroz Lakhani
[email protected]
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Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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