Blockchain technology is claimed to be according to blockchain proponents to be one of the most impactfull discoveries in the recent history. It is promised to have a massive potential to change how we handle online transactions. Despite some skeptics, the majority of experts agree that blockchain has the potential to disrupt the banking and financial industry, and many other ones! To put it simply, blockchain enables decentralized transactions across a P2P network. There are applications where those propertied can be very useful, but there are many cases where blockchain migh not be the best solution even though it is hyped to be solution for very many application (remember to ask Do you need a blockchain? often).
This 16 Blockchain Disruptions (Infographic) by bitfortune.net tries to help you understand how the blockchain technology can and will improve 16 different industries, from music to government.
Infographic by bitfortune.net
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Tomi Engdahl says:
Helene Braun / CoinDesk:
Binance plans to shut down its fiat-to-crypto service Binance Connect, formerly known as Bifinity, that supported payment methods including Visa and Mastercard — The service was rolled out in March last year, in an effort to make traditional financial companies “crypto-ready.”
Binance to Shut Down Crypto Payments Service Amid Refocus On Core Products
https://www.coindesk.com/business/2023/08/15/binance-to-shut-down-buy-and-sell-service-amid-refocus-on-core-products/
The service was rolled out in March last year, in an effort to make traditional financial companies “crypto-ready.”
Tomi Engdahl says:
Distributed Ledger Technology Review and Decentralized Applications Development Guidelines
https://www.mdpi.com/1999-5903/13/3/62?utm_campaign=journnews_ccbj_futureinternet&utm_medium=social_journ&utm_source=facebook&fbclid=IwAR2rfWudyKTRTXnqbAXqNoubE4nLY3Lj5LwrlTXbV5s-VBxP_r6wItjTOmw
Tomi Engdahl says:
Blockchain in foodservice – tracking food from plot to plate
https://www.ktchnrebel.com/blockchain-in-foodservice/
Tomi Engdahl says:
Bloomberg:
DappRadar: monthly NFT trading volume fell 81% from January 2022 to July 2023, while monthly NFT sales have dropped 61%, as traders return to cryptocurrencies
NFTs, Once Hyped as the Next Big Thing, Now Face ‘Worst Moment’
When you look at the charts, “everything is down.”
https://www.bloomberg.com/news/articles/2023-09-01/nft-hype-fades-in-crypto-market-as-sales-volume-plunges
Tomi Engdahl says:
NFT Bro Laments That Nobody Is Buying Expensive JPGs Anymore
Say it ain’t so.
https://futurism.com/nft-bro-decline
The NFT market is in serious trouble.
While the marketplace for drab JPGs of bored apes and pixelated punks is still alive in 2023, it’s arguably on life support, with the appetite for NFTs falling catastrophically as hype for AI has replaced bullish narratives around blockchain and the metaverse.
And that’s leaving those still trapped in the industry in dire straits.
“Hearing from multiple NFT collection founders that they want to exit but there’s nobody acquiring these companies,” NFT veteran Beanie tweeted this month. “Royalty revenues are non-existent and new mints simply aren’t selling.”
That means investors are also losing interest.
“VC funding in the space has evaporated,” Beanie wrote. “Young smart builders want to move on but feel trapped.”
In short, 2023 has been absolutely brutal to the space so far. According to a recent report by Galaxy Research, VC firms invested $2.3 billion in crypto and blockchain firms in the second quarter of 2023, compared to $8 billion over the same time period last year.
Tomi Engdahl says:
Tutkimus: Suuri osa NFT:ista käytännössä arvottomia
Hiljattain julkaistun raportin mukaan NFT-kaupat ovat laskeneet yli 97 prosenttiyksikköä vuoden 2021 huippulukemista.
https://www.hs.fi/talous/art-2000009876497.html
PARI vuotta sitten trendikkäiksi nousseet NFT:t, eli non-fungible tokenit, ovat nyt suureksi osaksi arvottomia, uutisoivat brittisanomalehti The Guardian ja yhdysvaltalainen aikakauslehti Rolling Stone. Lehdet pohjaavat tietonsa hiljattain julkaistuun alan tutkijoiden raporttiin.
Dappgambl-sivusto analysoi kryptovaluuttojen markkinoita ja havaitsi, että NFT:ista yli 95 prosenttia oli käytännössä arvottomia, eli niiden arvo oli nolla Etheriä
NFT-BUUMI oli huipussaan vuosina 2021 ja 2022.
Elokuussa 2022 tokeneista käytiin kauppaa yhteensä 2,8 miljardin dollarin arvosta. Heinäkuussa 2023 kaupankäynti oli romahtanut kahden vuoden takaisista huippulukemista 80 miljoonaan dollariin, eli noin kolmeen prosenttiin.
RAPORTIN mukaan 79 prosenttia kaikista NFT-kokoelmista on jäänyt myymättä, koska niille ei ole tarpeeksi kysyntää ”erittäin spekulatiivisilla ja epävakailla markkinoilla”.
Kaikkein arvokkaimpien NFT:iden kokoelmissa 18 prosenttia oli käytännössä täysin arvottomia
41 prosentin kokoelmista arvo oli 5–100 dollaria. Vain yhden prosentin arvo nousi yli 6 000 dollarin, vaikka vuonna 2021 niitä myytiin miljoonilla.
Raportissa arvioitiin myös NFT:iden ilmastovaikutuksia. Tutkijat analysoivat 195 699:n NFT-kokoelman, joilla ei ole omistajia tai markkinaosuutta, hiilidioksidipäästöjä. Niiden arvioitiin vastaavan yli neljäntuhannen matkustajan lentoa Englannista Uuteen-Seelantiin tai yli 3 500 auton vuosittaisia päästöjä.
NFT NOW -SIVUSTO kiisti väitteet polettien arvottomuudesta ja syytti mediaa ”suolan hieromisesta haavoihin”. Sivusto kuitenkin myönsi, että NFT-markkinat ovat taantumassa.
The vast majority of NFTs are now worthless, new report shows
Two years after tech trend that swept up artists and celebrities, researchers estimate 23 million people hold worthless investments
https://www.theguardian.com/technology/2023/sep/22/nfts-worthless-price
Your NFTs Are Actually — Finally — Totally Worthless
New report from industry researchers finds that 95 percent of the once-hyped crypto assets have hit rock-bottom valuation
https://www.rollingstone.com/culture/culture-news/nfts-worthless-researchers-find-1234828767/