What happened this week in the world of blockchain and cryptocurrencies? The most relevant local and international events as well as appealing background reports in a concise and compact weekly review.
Selected articles of the week:
What are blockchains, cryptocurrencies, Bitcoin? For newcomers, diving into the crypto world can seem overwhelming. In the newly launched CVJ.CH Academy, we guide you through the relevant topics in a nutshell. The various sections provide basic knowledge on the most important topics and the individual knowledge blocks contain further links for those thirsty for knowledge. In the first week, we start with blockchain technology – the basis of all cryptocurrencies.
What is blockchain technology and what is it used for? Basics and explanations with further resources in the CVJ.CH Academy.
Venezuela uses stablecoins
As an economy, Venezuela is heavily dependent on oil exports. However, the renewed US sanctions are making it more difficult to do business via conventional financial institutions. The state-owned oil company Petróleos de Venezuela (PDVSA) therefore began switching to cryptocurrencies a year ago. It primarily trades in the stablecoin Tether (USDT) – a cryptocurrency with a stable peg to the US dollar. This is how the OPEC state wants to circumvent the sanctions.
The state-owned oil company Petróleos de Venezuela (PDVSA) wants to rely more on cryptocurrencies as a basis for trading in the future.
Stripe backs crypto payments
Some of the largest companies in the world use Stripe’s payment software, including Walmart, Amazon, Apple, Samsung, Google and others. The FinTech has been experimenting with the introduction of crypto payments since 2013, but considered Bitcoin to be inadequate. But years later, Stripe finally seems to have found a better cryptocurrency for payments: Circles USD Coin (USDC). Blockchains such as Ethereum, Polygon and Solana were to usher in the new generation of crypto payments.
Some of the world’s biggest companies use Stripe’s software. Now, the Irish-American FinTech’s offers an…
DePIN takes off
The term “DePIN” refers to systems in which the physical infrastructure such as energy networks, computing power or bandwidth is organized in a decentralized manner. Blockchain technology is generally used to enable peer-to-peer transactions and coordination without centralized control. As the basis for decentralized AI systems, “DePIN” is gaining momentum. Some of the leading projects already boast market capitalizations in the billions.
There’s growing buzz around so-called Decentralized Physical Infrastructure Networks (DePIN) to potentially help current AI technology scale.
Introduction to crypto wallets
When interacting with a blockchain, users always need a digital wallet. This is software for managing the private keys of an address. There are a few things to bear in mind. Not all types of crypto wallets offer the same security, user experience and application options can differ.
Basically, any application that includes functions for storing and handling cryptocurrencies can be called a…
