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Binance is the world’s leading cryptocurrency exchange. It wasn’t hacked. Hackers stole $570M in tokens from Binance, the world’s largest cryptocurrency exchange. The hack targeted the BSC Token Hub, which serves as a link between two Binance systems. Binance reported in a blog post that an exploit affecting a cross-chain bridge between their BNB Beacon […]
The post Binance hack reveals crypto’s weaknesses first appeared on Daily Fintech.
Insurance business models are beset with high operating costs, opaqueness and information asymmetry. With the advent of Web3, smart contracts, and decentralized autonomous organizations (DAOs), newer ways of transferring risk are coming to market. The use of blockchain technology within insurance is proving to reduce costs and improve end-user experience. This final part, a continuation […]
The post Web3.0 in Insurance: Frontrunners & Mainstream appeared first on Daily Fintech.
Web 3.0 is founded on a substrate of edge computing, machine learning and decentralized data architecture. This decentralization of data hinges on blockchain technology to create an open, secure and transparent workscape, enabling participants on the network to interact sans intermediaries, while ensuring that data ownership resides with users. The expectation for Web3 is to […]
The post Web3.0 in insurance Part 1: Futuristic or panacea? appeared first on Daily Fintech.
Inevitable does not mean imminent. It is inevitable that the decentralized Web3 will replace the centralized Web2, but nobody knows when this will happen – it is not imminent. Amaras law is still true; I have deep conviction on direction of travel, but I have no idea on the speed of travel. To trade successfully […]
The post Web3 Part 4 Hype waves go through a lot of turbulence appeared first on Daily Fintech.
One reason why Web3 has some negative chatter is that it is being used to hype some crypto projects. The implied correlation is Web3 is good so crypto project X is good. I am NOT promoting any crypto projects, but I think that Web3 based on decentralised and permissionless exchange of value is real and […]
The post Web3 Part 3 exchanging value (not just content) online is a game changer appeared first on Daily Fintech.
The Internet was originally designed as a decentralized system to withstand attack by the Soviet Union during the cold war. The Internet protocols are also permissionless. You just connect your system to the Internet. Nobody can stop you – except the market if you don’t add value. That changed with Web 2 when centralized services […]
The post Web3 Part 2 Why decentralisation is back to the future appeared first on Daily Fintech.
Gavin Wood, now based in Switzerland, is crediting with coining the term Web3 in 2014 when he was CoFounder and CTO of the Ethereum Foundation. Web3 is a vision of a an Internet that is not controlled by a few big centralised players such as Google, Facebook and Amazon ie the Web2 we use every day. […]
The post Web 3 Part 1 What is Web3 and why do some people love it and others hate it? appeared first on Daily Fintech.
Bernard Lunn is a Fintech deal-maker, investor, entrepreneur and advisor. He is CEO of Daily Fintech and author of The Blockchain Economy. The path to mainstream adoption of Bitcoin is through people living with failing currencies & hyperfinflation They see Bitcoin as a way to put food on the table. That does not help you […]
The post Market based interest rates on DeFi during the days of negative interest rates – a fun topic for Thanksgiving appeared first on Daily Fintech.