Weekly NFT roundup April 14-20: Real-world applications grow through postage and insurance

The last week saw practical real-world applications of NFTs grow with the certification of CaseMail's NFT postage technology, as well as the development of an insurance system for NFTs, solidifying their growing importance in the blockchain industry.

CaseMail’s NFT postage labels first to be certified by USPS

The United States Postal Service (USPS) has certified CaseMail’s NFT-based postal tracking and content verification technology.

CaseMail tokens can be...

21 April 2021 | Blockchain

IDC estimates $19 billion global spending on blockchain solutions in 2024

A new update to the International Data Corporation’s (IDC) Worldwide Blockchain Spending Guide forecasts global blockchain spending will hit just under $19 billion (£13.5bn) by 2024.

This is compared to an estimated $6.6bn (£4.7bn) in 2021, at a five year compound annual growth rate (CAGR) of 48.0%.

The guide found that banking leads the way in blockchain spending, accounting for nearly 30% of the worldwide total in 2021. It is set to remain the top industry for...

20 April 2021 | Banking

Deutsche Telekom invests in Celo mobile blockchain

Telecoms giant Deutsche Telekom has invested in the mobile decentralised finance (DeFi) platform Celo.

Celo is an open-source blockchain project used in more than 100 countries focused on bringing DeFi systems and tools to smartphones. It allows users to send and receive money with Celo’s native coin (CELO) through their mobile device.

Deutsche Telekom is the first telecommunications company to join Celo’s Alliance for Prosperity, a global alliance of more than 130...

20 April 2021 | Blockchain

Bank of England taskforce announced to explore CBDC potential

The Bank of England and the Treasury have announced the creation of a joint taskforce to explore the potential upsides and pitfalls of a UK central bank digital currency (CBDC), referred to as ‘Britcoin’ by chancellor Rishi Sunak.

The taskforce will be jointly led by the Bank's deputy governor for financial stability, Sir Jon Cunliffe, and the Treasury's director general of financial services, Katharine Braddick.

The use of cash in financial transactions has been...

19 April 2021 | Banking

SBI Sumishin Net Bank partners with DLT Labs on supply chain financing network

Japan’s largest digital bank, SBI Sumishin Net Bank (SSNB), have entered into a joint venture with DLT Labs to offer a blockchain-based supply chain financing network across Japan, with wide applications to industrial partners, the banking sector, as well as clients.

The supply chain financing network will be powered by DLT Labs' blockchain development platform and will provide end-to-end supply chain financing designed to integrate with clients’ supply chains.

DLT...

16 April 2021 | Applications

Crypto Climate Accord unveiled, commits to 100% renewable blockchains by 2030

Energy Web, RMI, and the Alliance for Innovative Regulation (AIR) have announced the Crypto Climate Accord, an initiative committed to making the cryptocurrency industry 100% renewable by 2030.

The accord is already supported by leading organisations including Consensys, Ripple, EDF, and XRP Ledger, as well as having the backing of the United Nations Framework Convention on Climate Change (UNFCCC).

According to an Energy Web estimate last year, the top five public...

14 April 2021 | Bitcoin

Coinbase IPO marks historic first crypto company to enter US stock exchange as Bitcoin rockets

April 14 will see the first company dedicated purely to cryptocurrency to enter the US stock exchange when Coinbase is listed on Nasdaq.

The build-up to the offering has had a bullish effect on the crypto market, with Bitcoin reaching an all-time high of $63,209 (£46,039) on Tuesday, marking a 116% year-to-date increase.

The release of Coinbase’s Q1 report on April 6 has been driving this rise in crypto prices, as well as excitement for its offering. The exchange’s...

13 April 2021 | Bitcoin

Weekly NFT roundup April 7-13: Christie’s, Triller, and more

NFTs made headlines again this week as the market continues to grow rapidly. Beyond this week, future developments may include Playboy which will soon begin auctioning NFTs on Nifty, luxury fashion brands that are exploring ways to implement 3D clothing in their offerings, and even Tom Brady who is set to launch his very own NFT marketplace.

CryptoPunk NFT artwork expected to sell for millions at upcoming Christie’s auction

A selection of NFTs from the iconic...

13 April 2021 | Applications

Caruso real estate to accept Bitcoin as rent payment in industry first

Real estate transaction

Billionaire Rick Caruso’s eponymous real estate company will begin accepting rent payments for both residential and retail properties in Bitcoin as part of a new partnership with Gemini, the cryptocurrency exchange led by the Winklevoss twins.

Through their partnership, Caruso and Gemini intend to bring cryptocurrency, non-fungible tokens (NFTs), and blockchain applications to Caruso properties as a way to engage visitors throughout their ecosystem.

Such a move by...

12 April 2021 | Bitcoin

Bitcoin mining in China could threaten climate policies, new study shows

Without appropriate intervention and policy changes, the energy consumption and carbon emissions from Chinese Bitcoin mining will jeopardise the country’s climate goals.

These claims come from a new study carried out by researchers at the University of Chinese Academy of Sciences, Cornell University, Tsinghua University and University of Surrey.

Their research finds that the annual energy consumption of the Bitcoin mining in China is expected to peak in 2024 at 297...

12 April 2021 | Bitcoin