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PowerPod joins peaq to demolish critical barrier to electric vehicle adoption

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peaq, the blockchain for real-world applications, announces the expansion of its ecosystem, as PowerPod joins to decentralize electric vehicle (EV) charging. PowerPod is building a decentralized physical infrastructure network (DePIN) of community-owned EV charging stations. As part of the integration, the project will use peaq as the layer-1 backbone for its DePIN, using it to store charging session data, handle transactions, and reward the users with tokens for powering a more sustainable future of mobility.

Seen as an eco-friendlier version, EVs are growing more popular by the day. Deterring this growth is the lack of available infrastructure, especially chargers, with about one-third prospective EV buyers citing such concerns as the reason they didn’t go ahead with the purchase. The hundreds of thousands of private chargers set up by EV owners could be a massive boon to the industry, closing a vital gap while empowering individuals to earn from their energy assets.

PowerPod is building a platform that will enable people to do just that —- open up their EV chargers for fellow drivers to use and earn rewards for providing the charging service. Besides its app, which will enable these interactions, PowerPod is also working on a range of hardware devices, including a smart charger adapter, a charger, and a travel adapter that will enable EV owners to charge their vehicles from regular sockets. These devices will make up a DePIN handling charging session data and enabling drivers to pay for the energy.

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As part of its integration with peaq, PowerPod will outfit these devices with their multi-chain self-sovereign peaq IDs, enabling them to connect with the blockchain. It will also leverage peaq for data storage and eventually launch its token on the peaq mainnet, set to go live in the coming months. It will also use peaq to set up its rewards mechanism, granting users tokens for interacting with the DePIN.

“The DePIN model is perfect for unleashing the full capacity of the electric vehicle industry,” says Ting, Co-founder at PowerPod. “Through leveraging Web3, PowerPod empowers people globally to contribute to a more sustainable future while also capitalizing on existing charging infrastructure. The DePIN-focused functionalities and economic framework offered by peaq will expedite our development and deployment significantly. We’re enthusiastic about our participation in this dynamic ecosystem.”

“The smart mobility industry has been displaying a lot of excitement about Web3,” says Till Wendler, co-founder of peaq. “It’s thrilling to see PowerPod use the DePIN model to close a vital gap for the electric vehicle market while also giving individuals more ownership in its hardware backbone. We are certain that PowerPod will bring new value and opportunities for the entire ecosystem.”

 

The post PowerPod joins peaq to demolish critical barrier to electric vehicle adoption appeared first on HIPTHER Alerts.

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Global Fintech Market Size To Worth USD 1009.10 Billion By 2033 | CAGR Of 14.01%

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Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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