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Banks to Mint USDF Stablecoin following the Launch of the USDF Consortium

Posted on by Bon Coiney

Banks who were once against the blockchain space at its infancy have turned around and warmed up to it. The USDF Consortium, an affiliation of FDIC-insured banking firms, has officially launched with an objective to build networks of financial institutions to advance the growth and integration of a bank-minted stablecoin. This will allow for the approved movement of assets on the blockchain and would serve as an opportunity for banks to benefit from the endless possibilities on the blockchain.

What is USDF?

USDF is a bank-issued stablecoin that competes with non-bank-issued stablecoins. The proposed crypto will be created by US banks and will be redeemable for cash from member banks. According to the network, the goal is to provide greater user protection than uncontrolled stablecoins.

USDF will run on the Provenance Blockchain, a  proof-of-stake network created in May 2021 by the Provenance Foundation, based in San Francisco, California. Since USDF is now available on a public blockchain, banks and their clients will be able to utilize it for a variety of uses, including capital call financing, invoice, and supply chain finance, in addition to peer-to-peer and business-to-business money transfers.

Reaction to the news

Reacting to the news, Figure CEO Mike Cagney said, “USDF opens up endless possibilities for the expanding world of DeFi transactions. The ease and immediacy of using USDF for on-chain transactions was demonstrated this fall when NYCB minted USDF used to settle securities trades executed on Figure’s alternative trading systems. We are tremendously excited that NYCB expects to be minting USDF on demand and on a regular basis in the coming weeks.”

According to Andrew Kaplan, NYCB’s Chief Digital and Banking Service Officer, this initiative will meet the demands of customers. He said,  “This will solve a critical need to move funds on the blockchain, and it does so in a way that can scale, adheres to regulatory standards, and is acceptable to all users from large institutional investors to retail customers.

Andrew further added that “As a form of digital currency created and administered by regulated U.S. banks within the USDF Consortium, USDF will enable wide use of an on-chain, real-time payments system that satisfies important principles of safety and soundness, compliance with anti-money laundering standards, and financial stability.”

In reaction to the news, Bea Ordonez, Chief Financial Officer of Sterling National Bank, said, “Our membership in the Consortium will enable us to integrate real-time payments into our operating model, allowing us to leverage the benefits of blockchain technology to streamline multi-party decision-making processes and provide certainty of settlement. We are exploring specific segment-focused use cases that are relevant to our commercial model, including potential applications to commercial lending and loan syndications.”  

The USDF Consortium is laying the groundwork for banks to use blockchain as a game-changing technology for sustainable expansion and creativity. Interested banks can read more about the Consortium, the USDF, and the membership requirements at www.usdfconsortium.com, as well as apply to join.

Disney Strengthens its Metaverse Ambition with Patent for an Amusement Park

Posted on by Bon Coiney

Disney is one of the latest entertainment organizations to experiment with headset less augmented reality. As a result,  Disney park visitors may soon be traveling through the metaverse. Beginning their year on a high note, the world’s largest entertainment company just received patent permission for metaverse capabilities at its theme parks.

The company will employ software that tracks people’s phone activities at Disney parks. It will then create customized interactive attractions for each of these guests, which will be shown as 3D graphics on neighboring physical locations. Rather than a general fun activity, each visitor would have his fun customized to their request. This means that one person could see Cinderella from a hot dog stand while another would be enjoying another Disney show.

Disney’s metaverse ambition

Disney has been making moves to join the ongoing tech conversation. On December 28, 2021, the tourist site got their patent called a ‘virtual world simulator in a real place’ approved.  Before then, the entertainment giant had filed a trademark application with the US Patent and Trademark Office. 

During the company’s fourth-quarter result call, CEO Bob Chapek remarked that Disney intends to tell stories through a “three-dimensional canvas.”  This technology is a strong pointer to Disney’s intention to fulfill its ambition

According to Chapek, “Our efforts to date are merely a prologue to a time when we’ll be able to connect the physical and digital worlds even more closely, allowing for storytelling without boundaries in our own Disney metaverse.” 

In November 2020, Disney revealed their metaverse vision. Tilak Mandadi, the company’s chief strategist, wrote an article at the time highlighting the company’s metaverse objectives. According to Mandadi, the experiences would be timeless but yet distinctive to the individual, as well as social and connected.

Growth to be expected

In an interview with the Los Angeles Times, Disney stated that it has no immediate plans to use the patent.  However, getting the patent shows how deliberate Disney is to get ahead of its competitors.  Disney has a long history associated with modern American culture. Its influence has also spread to other parts of the world. 

Currently, there are 12 parks in the United States, Paris, Hong Kong, Japan, and China. These parks have become tourist locations and homes for individuals seeking fairytale adventures. It is reported that Disney parks around the globe get millions of visitors yearly, and the entertainment giant rakes in billions as profit.  All of Disney’s services brought in approximately $17 billion in revenue in 2021. While several organizations struggle to keep things together as a result of the pandemic and restrictions associated with it, Disney continues to record tremendous progress. 

The metaverse is expected to be the craze of the blockchain community in 2022, as Defi and NFTs were in 2021. If everything goes as planned, Disney could see its growth explode in the coming months.

Platinum enters into partnership with Almora Capital to unleash its full potential

Posted on by Bon Coiney

We are continuously trying to expand our number of strategic partners, as they make it possible for us to tap into new markets and deliver the best products possible. This time, the core team of Platinum Software Development is proud to announce a brand new partnership with Almora Capital, an investment firm that offers full-lifecycle solutions to blockchain investors and businesses.

Learn more detailed information about this collaboration in today’s release.

Unleashing our full potential with Almora Capital

Given the highly unstable and competitive environment of the decentralized finance market, for Platinum to introduce new use cases to the crypto community, there is a need for strong and influential partners that can back us with their rich resources. That is why the Platinum development team is pleased to present our new strategic partner – Almora Capital.

Almora Capital is an eminent blockchain investment firm that’s focused on assisting their international clients to map their investments and sort them into themes in order to optimize their portfolios and achieve the best results. The company offers transparent and open communications as well as research-based industry insights to all their clients, be they individuals, institutions, or businesses.

The Almora Capital core team is committed to pursuing various opportunities in the DeFi market and placing its deep understanding of technology, market economics, and blockchain finance at the forefront of its activities, so as to deliver optimized investment solutions. Almora Capital is globally recognized and has an excellent reputation in the field of blockchain investment.

Almora Capital and Cheesus

Some team members of Almora have been paying attention to Cheesus, the brainchild of Platinum Software Development, an on-chain analytical tool for NFT gaming metaverse and DeFi activity. Cheesus is able to track any NFT trading activity within any metaverse, DEX, and AMM. Cheesus is also quite an effective tool against fraudsters and scammers, helping users to identify only valuable and trustworthy DeFi projects.

Almora Capital recognized the great potential of Cheesus and decided to sign a partnership agreement with us. This move will allow Almora Capital to develop more sophisticated investment strategies for which Cheesus will receive help in the form of Almora’s financial and marketing resources.

“Support from an authoritative venture capital firm such as Almora Capital is something to be proud of. The Platinum team has a real opportunity here to create a buzz in the DeFi market and achieve the strategic goals set out in our roadmap as soon as possible. There is no doubt that this partnership promises to be a long and fruitful one that will boost the  performance of both projects,” said Anton Dziatkovskii, Platinum’s co-founder.

About Almora Capital

Almora Capital is an eminent blockchain investment firm that helps global clients map their investments and sort them into themes that will optimize the results of their portfolios. The company is dedicated to crypto investments and empowering its clients with technical and fundamental resources such as insights and data that will help them leverage the potential of up-and-coming projects in the decentralized digital economy.

Almora Capital conducts in-depth and timely analyses of industries, markets and investment frameworks, helping the project to earn a favorable reputation in the blockchain investment space.

Website l Twitter l Telegram

About Platinum

Platinum Software Development Company offers enterprise IT solutions and services to improve business processes and leverage technological innovations. From consultations, strategizing and roadmap building to ongoing improvements of large transformational projects across diverse industries, Platinum provides a strategic advantage to every client it works with.

Website | Twitter | Telegram | Blog

Telegram

Platinum and Almora Capital are as of this moment, official partners ?

Almora Capital is an eminent blockchain investment firm focused on assisting their international clients to map their investments and optimize their portfolios ?

The brand new partnership promises to be a long and fruitful one that will boost the performance of both projects ?

Read about the agreement in the full release.

Twitter

Platinum and @AlmoraCapital are as of this moment officially partners ?

The brand new partnership promises to be a long and fruitful one that will boost the performance of both projects ?

Read more here

Wasder launches on Solana as it aims to disrupt the industry

Posted on by Bon Coiney

Wasder, a global gaming platform or social microverse for gamers, has announced its launch on Solana, a market-leading blockchain technology, to become the primary gateway to future metaverses.

The collaboration establishes a new bar for both gamers and publishers as Wasder is the first popular gaming platform and digital microverse of its sort. The new launch allows gamers to take part in the Game of Wasder, a truly gamified adventure embedded inside the social network that allows users to get more involved with games like Minecraft, Call of Duty, Roblox, Fortnite, Garena Free Fire, PUBG Mobile, and others.

Understanding the Game of Wasder

The Game of Wasder creates a more immersive experience when it comes to interacting with brands. It allows game publishers and developers to host their communities on Wasder, combined with Game Spaces. Furthermore, it provides players with a variety of other high-value options, such as showcasing their in-game items like NFTs, Battlepasses, and prizes while also exposing them to a bigger audience.

Wasder’s rewards are exclusive NFTs from games with whom Wasder has collaborated. Wasder has already teamed up with Gala Games’ Townstar and Vorto Games’ Hash Rush and will announce numerous additional partners in Q1 2022. Wasder’s Battlepasses will also be available to users, allowing them to gain rewards playing a specific game within a specific timeframe. In addition, players can display their rewards/NFTs on their personalized profiles, giving them a new avenue to promote themselves in the group as well as their reward stockpile.

Speaking on the new launch, Thomas Gronnevik, CEO of Wasder, gave a detailed insight into what Wasder looks like. Speaking on gamer’s ownership, he said, “Players have historically been unable to have ownership over their items in games. What this means is that there have been limitations to who you can trade them with, or moving them between your own accounts, or other artificial demands that you had to go through in order to do anything with the items you had either earned or bought. NFTs allow for gamers to really control their own things which means that they can trade them between their own accounts, or with their friends, or sell them if they like. Remember old Pokémon trading cards? No one controls them but you.”

In a release, Wasder opened up on the goal of its platform. It wrote, “ We wanted to create a system that gives every player equal access to earning & acquiring really cool rewards & NFTs. After every season, control and ownership of those rewards & items should be in the hands of the players, ensuring that everyone can enjoy what we create, and that it creates a vibrant, decentralized, and player-controlled economy after each season ends.”

Why Solana?

Wasder noted that it looked out for a platform that would return power back to the players and also share in the vision of massive adoption. Solana ticked all the boxes. Here are some reasons why Solana was the perfect destination

  • It’s highly scalable.
  • Their transaction speeds are very high.
  • Low transaction fees and fast-paced transactions. 
  • Highly sustainable

Apart from developing the Game of Wasder on the Solana, Wasder plans to use the Solana blockchain for a variety of purposes, including the minting of NFTs. Although Wasder intends to enable various blockchains for NFTs in the future, the Solana ecosystem will be the first and will power the basic mechanism that allows players to exchange NFTs.

Sandbox Vs Decentraland – Who wins the ultimate battle?

Posted on by Bon Coiney

The pandemic caused everyone to be locked inside their house with no known form of recreation as gyms and social spots were shut down, so the world had to turn to the virtual world as a means of escape. In this new world, the video game industry and Blockchain technology, which allows for the transfer of wealth via cryptocurrencies, appear to be leading the way in producing intense emotions that allow for enjoyment during times of confinement.

Faced with rising demand, several platforms are quietly vying for dominance in the decentralized gaming market, allowing their users complete power over their activities in a fantastical environment parallel to our own. Before going deep into these competing powers, let’s take a look at the Metaverse.

What is the Metaverse?

Metaverse is a brand-new and ground-breaking concept in the realm of digital entertainment. Users can play games, socialize, or even buy virtual land and build whatever they want in this virtual environment. There are many distinct Metaverses available, but The Sandbox and Decentraland are the most popular. On this occasion, we’ll compare The Sandbox and Decentraland.

Sandbox

The Sandbox is a 2D mobile game that was released in 2013 and was founded in 2012. In 2017, the shift to a three-dimensional game based on the Ethereum blockchain began. Animoca Brands, a Hong Kong-based software business, bought it in 2018 and has subsequently acquired funding to continue developing this virtual world.

Decentraland

Decentraland began as a 2D virtual space in 2015, but it has now grown into a 3D metaverse. Decentraland, one of Animoca Brands’ ventures, was launched at the same time that Animoca bought The Sandbox.

How they work

In essence, they both have the same concept: users can explore the virtual world and interact with other players and items.

Users can buy virtual land in the Sandbox and Decentraland Metaverses and use it to create their own universe. Users may, in other words, develop, enjoy, and monetize their own content and apps. However, they must first purchase land on which to build your content and sell it. There’s also a marketplace where players can sell these materials or assets for the platform’s native money.

Another thing that The Sandbox and Decentraland have in common is that they’re both built on the Ethereum network. As a result, the land on the Ethereum blockchain is represented and stored as NFT.

Their differences

They operate similarly, yet they differ in some aspects.

Individual parcels, estates (multiple parcels), districts (parcels with similar themes), and plazas make up Decentraland’s 90,601 land parcels (untradable parcels owned by the community). The Sandbox, on the other hand, includes 166,464 land pieces that can be divided into estates (owned by a single person) or districts (owned by multiple people) (owned by 2 or more people).

There are three sorts of tokens in Decentraland: MANA (the native currency), WEAR (wearables and items), and LAND (land) (the virtual plot of land). In Sandbox, there are four sorts of tokens: SAND (the native money), ASSETS (user-created items), GAMES (user-created games), and LAND (user-created land) (the virtual plot of land).

What’s their agenda?

The Sandbox has a specific objective in mind: to make the platform available on mobile devices by the end of 2022. They also intend to release the platform on consoles such as the Xbox and Playstation. Furthermore, by the end of 2023, they hope to have 5,000 games live and on-demand. Sandbox also intends to offer in-game occupations that individuals can do just like they would in the real world.

Decentraland, on the other hand, does not have a defined roadmap in place. Instead, the team will make judgments based on what they believe is valuable. By early 2022, they hope to attract creators, companies, and celebrities to the space, allowing them to drop NFTs and commercials. Nonetheless, there is a proposal to make Decentraland compatible with at least four other Metaverse worlds, which is even more intriguing.

Who is leading?

For the time being, it appears like The Sandbox has emerged victorious in the argument between The Sandbox and Decentraland. It has a larger number of collaborations, investors, and developers than Decentraland. Furthermore, The Sandbox is more inventive than Decentraland and has a stronger long-term strategy.

Furthermore, the crypto forecast predicts that The Sandbox’s token value will climb substantially faster than Decentraland’s in the future. If this occurs, it will be easier for The Sandbox to persuade others to invest in them.

For the time being, the market appears to favor The Sandbox over Decentraland. However, it is difficult to predict who will win in the long run.