Dubai: Crypto & Coffee at 8: 🚨 21st Nov 🚨 🔑 Proof of Keys OR Proof of reserves for cryptocurrency exchange? ⛔ Stable Coins account for 98.08% of the volume (Not ideal) 🚨 Two UAE News (Crypto) - a podcast by Blockchain DXB

🔑 Proof of Keys OR Proof of reserves for cryptocurrency exchange?

⛔ Stable Coins account for 98.08% of the volume (Not ideal)

🚨The 2nd line of the Bitcoin whitepaper ‘…….but the main benefits are lost if a trusted third party is still required to prevent double-spending.

🔴 Satoshi Nakamoto solved the “Double Spend” problem & using Cryotography+ Hashing Algorithm+ Mathematics Private key/Public key/ Public Address. Proof of Keys is the only way forward for Self Sovereign Identity.

⚡ But as an industry should we focus on (Keeping in mind the user experience & convenience)

- Proof of Keys

- Proof of Reserves

💡 Proof-of-Reserves Concept Pushes Proof-of-Solvency to the Forefront of Crypto Conversations

✅ Changpeng Zhao, CEO of Binance mentioned on Twitter that all crypto exchanges should do Merkle-tree proof-of-reserves. https://tinyurl.com/yc68mrcz

❌ But Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.” A Series of concerning tweets with explanations can be seen here https://tinyurl.com/a65s9yp4

❓ What kind of security concerns could it possibly pose???

💯 Analytics firm Nansen has gotten involved and the company is building a proof-of-reserves dashboard to display exchange reserves.

🎙️Global crypto market down to $802B: See slides 1 & 2 below for a detailed breakdown of #defi, #stablecoins, #privacycoins #smartcontracts & more. Check out the podcasts, link below

❤️😡 India: Love/Hate mostly hate for crypto continues

😔Bitcoin.com published an article https://tinyurl.com/7mwdh5hd that states Binance’s CEO Changpeng Zhao (CZ) says India is currently not a viable business environment for its cryptocurrency exchange, citing a strict tax regime.

😔 Nasdaq-listed cryptocurrency exchange Coinbase has a similar feel. CEO Brian Armstrong said in May that the firm disabled its support for the local payments system UPI “because of some informal pressure from the Reserve Bank of India (RBI) Bank of India.”

🔻When Bitcoin reached an ATH in Jan for a brief moment 100% of Bitcoin addresses were in profit. End of the year More than 50% of Bitcoin addresses are at loss. IntoTheBlock states 24.56 million addresses of the total 47.85 million are below purchase price on their investments CoinDesk article states Most addresses holding bitcoin, the largest cryptocurrency, are now losing money, the first time that’s happened since the start of the coronavirus-induced crash of March 2020. Article here https://tinyurl.com/28d2k8wx

💥 Two UAE news: (Slides)

⚡ Dubai free zone DMCC (Dubai Multi Commodities Centre) tokenizes gold trade through ComTech deal

⚡ Dubai Future Academy announces the launch of 3 digital course

For slides click here: https://tinyurl.com/4mpxycsp

LinkedIn Profile: https://tinyurl.com/569zh78j

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