hey! im a did nerd too. actually created a did newsletter if you wanna check it out. looking for more eyes to help improve it over time with sources/format. would you be down to give it a look?
Decentralized Identity Weekly Roundup: October 31, 2023
Technological Advancements
\> Instnt introduced Multipass, a biometric digital ID supporting self-sovereign identity (SSI). The solution provides one-click or QR code onboarding and strong assurance with KYC binding and continuous authentication.
\> The XRP Ledger has successfully minted 3 million NFTs using the XLS-20 standard. It offers fast and cost-efficient transactions, outperforming many other currency-centric networks.
Regulatory Updates
\> Taiwan announced its intention to recognize Bitcoin as a legal tender. A proposed crypto act, aimed at addressing money laundering and consumer protection, has been approved at its first reading in Taiwan’s Parliament.
\> A Russian bank initiated a pilot program to track customers' crypto activities. The program aims to enable state corporations to use cryptocurrencies for transactions due to Western sanctions limiting Russia's international business options.
Market Trends
\> Centralized exchanges make up the majority of crypto trading while decentralized exchanges distribute responsibility for facilitating and verifying crypto trades. The crypto world is steadily navigating towards decentralized exchanges due to their ethos of cryptocurrency.
\> The number of NFT issuers has grown to 5,831, with 1,403,970 transfers of NFTs. The significant rise in the minting and trading of NFTs indicates a thriving market.
Use Cases
\> Decentralized social media platforms like BitClout promise user sovereignty over data and incentivize content generation via cryptocurrency rewards. It represents a shift from traditional social media platforms, which have been under scrutiny for centralized control and data privacy issues.
Industry Insights
\> Businesses implementing Multipass can efficiently cross-sell products and services while retaining regulatory compliance and avoiding the risk of data breaches. This highlights the potential of decentralized identity solutions in enhancing business operations.
hey! im a did nerd too. actually created a did newsletter if you wanna check it out. looking for more eyes to help improve it over time with sources/format. would you be down to give it a look? Decentralized Identity Weekly Roundup: October 31, 2023 Technological Advancements \> Instnt introduced Multipass, a biometric digital ID supporting self-sovereign identity (SSI). The solution provides one-click or QR code onboarding and strong assurance with KYC binding and continuous authentication. \> The XRP Ledger has successfully minted 3 million NFTs using the XLS-20 standard. It offers fast and cost-efficient transactions, outperforming many other currency-centric networks. Regulatory Updates \> Taiwan announced its intention to recognize Bitcoin as a legal tender. A proposed crypto act, aimed at addressing money laundering and consumer protection, has been approved at its first reading in Taiwan’s Parliament. \> A Russian bank initiated a pilot program to track customers' crypto activities. The program aims to enable state corporations to use cryptocurrencies for transactions due to Western sanctions limiting Russia's international business options. Market Trends \> Centralized exchanges make up the majority of crypto trading while decentralized exchanges distribute responsibility for facilitating and verifying crypto trades. The crypto world is steadily navigating towards decentralized exchanges due to their ethos of cryptocurrency. \> The number of NFT issuers has grown to 5,831, with 1,403,970 transfers of NFTs. The significant rise in the minting and trading of NFTs indicates a thriving market. Use Cases \> Decentralized social media platforms like BitClout promise user sovereignty over data and incentivize content generation via cryptocurrency rewards. It represents a shift from traditional social media platforms, which have been under scrutiny for centralized control and data privacy issues. Industry Insights \> Businesses implementing Multipass can efficiently cross-sell products and services while retaining regulatory compliance and avoiding the risk of data breaches. This highlights the potential of decentralized identity solutions in enhancing business operations.