On Tuesday, the non-profit technology consortium, the Linux Foundation, announced the launch of the Openwallet Foundation (OWF) in order to bolster the development of open-source crypto wallets. OWF’s goal is to increase “interoperability for a wide range of wallet use cases” and to develop a “secure, multi-purpose open source engine” that anyone can use to build a wallet.
The Linux Foundation (LF) has supported open-source software since the foundation’s inception 22 years ago. The foundation is made up of software developers from all around the world, and corporate giants like AT&T, Cisco, Fujitsu, Google, Hitachi, Tencent, Vmware, Huawei, IBM, Intel, Meta, Microsoft, NEC, Oracle, Orange S.A., Qualcomm, and Samsung are also LF members. The announcement published on September 13 notes that the LF’s mission is to bolster universal digital wallet infrastructure.
“We are convinced that digital wallets will play a critical role for digital societies. Open software is the key to interoperability and security,” Jim Zemllin, the LF executive director, said in a statement.
On Tuesday, OWF will host a keynote presentation at the Open Source Summit Europe. The newly formed group has no intentions of publishing a wallet or creating new standards. “The community will focus on building an open source software engine that other organizations and companies can leverage to develop their own digital wallets,” the LF announcement details. “The wallets will support a wide variety of use cases from identity to payments to digital keys and aim to achieve feature parity with the best available wallets.”
David Treat, the Global Metaverse Continuum Business Group and Blockchain lead at Accenture said that a massive change is coming to the traditional business model and digital businesses will earn trust. “Universal digital wallet infrastructure will create the ability to carry tokenized identity, money, and objects from place to place in the digital world,” Treat said. Presently, the OWF has not formulated a governance system but it is in the midst of “working on its governance and structure with the goal of launching later in 2022.”
What do you think about the Linux Foundation’s Openwallet Foundation? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
On Tuesday, the non-profit technology consortium, the Linux Foundation, announced the launch of the Openwallet Foundation (OWF) in order to bolster the development of open-source crypto wallets. OWF’s goal is to increase “interoperability for a wide range of wallet use cases” and to develop a “secure, multi-purpose open source engine” that anyone can use to build a wallet.
The Linux Foundation (LF) has supported open-source software since the foundation’s inception 22 years ago. The foundation is made up of software developers from all around the world, and corporate giants like AT&T, Cisco, Fujitsu, Google, Hitachi, Tencent, Vmware, Huawei, IBM, Intel, Meta, Microsoft, NEC, Oracle, Orange S.A., Qualcomm, and Samsung are also LF members. The announcement published on September 13 notes that the LF’s mission is to bolster universal digital wallet infrastructure.
“We are convinced that digital wallets will play a critical role for digital societies. Open software is the key to interoperability and security,” Jim Zemllin, the LF executive director, said in a statement.
On Tuesday, OWF will host a keynote presentation at the Open Source Summit Europe. The newly formed group has no intentions of publishing a wallet or creating new standards. “The community will focus on building an open source software engine that other organizations and companies can leverage to develop their own digital wallets,” the LF announcement details. “The wallets will support a wide variety of use cases from identity to payments to digital keys and aim to achieve feature parity with the best available wallets.”
David Treat, the Global Metaverse Continuum Business Group and Blockchain lead at Accenture said that a massive change is coming to the traditional business model and digital businesses will earn trust. “Universal digital wallet infrastructure will create the ability to carry tokenized identity, money, and objects from place to place in the digital world,” Treat said. Presently, the OWF has not formulated a governance system but it is in the midst of “working on its governance and structure with the goal of launching later in 2022.”
What do you think about the Linux Foundation’s Openwallet Foundation? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
On September 13, the U.S. Bureau of Labor Statistics reported the country’s consumer price index (CPI) inflation jumped by 8.3% annually in August. The reduction was less than expected and market analysts believe the U.S. Federal Reserve will continue its aggressive rate hikes going forward.
U.S. inflation numbers for August are in, according to the calculations recently published by the U.S. Bureau of Labor Statistics. The Bureau of Labor Statistics wrote on Tuesday that the “consumer price index for all urban consumers (CPI-U) rose 0.1 percent in August on a seasonally adjusted basis after being unchanged in July — Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment.”
CPI 8.3% pic.twitter.com/wY7iYm26ox
— Sven Henrich (@NorthmanTrader) September 13, 2022
Market strategists did not expect the inflation rate to be so high as reports note that “economists had expected prices to dip 0.1% in August over the month and slow to an 8% annual pace.” The economist and gold bug Peter Schiff was quick to criticize the U.S. dollar and the country’s fiscal policy. “Once again the market’s reaction to [a] much higher than expected inflation is wrong,” Schiff tweeted on Tuesday. “Inflation is here to stay, and will get much worse despite rate hikes, due to over a decade of inflationary monetary and fiscal policy. This is very bearish for the dollar and bullish for gold,” Schiff added.
Amid the worse-than-expected inflation report, all four major Wall Street indexes (NYSE, Nasdaq, Dow Jones, S&P 500) slid significantly after the Bureau of Labor Statistics report published on Tuesday. All five precious metals (gold, silver, palladium, platinum, rhodium) saw losses against the U.S. dollar during the past 24 hours, with gold down 1.47%. After printing some gains the day prior, the crypto economy lost 5.8% against the dollar on Tuesday as well. During the last day, bitcoin (BTC) has shed 6% in USD value while ethereum (ETH) is down 8%.
Meanwhile, Tuesday’s CPI data has investors believing the Fed will be aggressive when it raises the benchmark bank rate at the next meeting. Mark Hamrick, a senior economic analyst at Bankrate.com, thinks the inflation report for August won’t do much to convince the Fed to act dovish next week. Hamrick expects the U.S. central bank to keep the federal bank rate confined until inflation subsides.
“They want to take their benchmark rate into [economically] restrictive territory and hold it there for longer,” Hamrick opined. “Awaiting what Chairman Jerome Powell has said must be ‘compelling evidence that inflation is moving down, consistent with inflation returning to two percent’ … We remain far from that destination.” Schiff thinks it is absurd that people expect the 2% inflation rate to return, and the gold bug wholeheartedly believes the days of sub-2% inflation will always be a distant memory. In a tweet published on Monday, Schiff stressed:
The days of sub-2% inflation are gone. There’s no going back to the anomaly experienced between the 2008 Financial Crisis and 2021. The inflation chickens the Fed released with QE have finally come home to roost. The price increases experienced thus far are just the beginning.
What do you think about the latest inflation report? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
On September 13, the U.S. Bureau of Labor Statistics reported the country’s consumer price index (CPI) inflation jumped by 8.3% annually in August. The reduction was less than expected and market analysts believe the U.S. Federal Reserve will continue its aggressive rate hikes going forward.
U.S. inflation numbers for August are in, according to the calculations recently published by the U.S. Bureau of Labor Statistics. The Bureau of Labor Statistics wrote on Tuesday that the “consumer price index for all urban consumers (CPI-U) rose 0.1 percent in August on a seasonally adjusted basis after being unchanged in July — Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment.”
CPI 8.3% pic.twitter.com/wY7iYm26ox
— Sven Henrich (@NorthmanTrader) September 13, 2022
Market strategists did not expect the inflation rate to be so high as reports note that “economists had expected prices to dip 0.1% in August over the month and slow to an 8% annual pace.” The economist and gold bug Peter Schiff was quick to criticize the U.S. dollar and the country’s fiscal policy. “Once again the market’s reaction to [a] much higher than expected inflation is wrong,” Schiff tweeted on Tuesday. “Inflation is here to stay, and will get much worse despite rate hikes, due to over a decade of inflationary monetary and fiscal policy. This is very bearish for the dollar and bullish for gold,” Schiff added.
Amid the worse-than-expected inflation report, all four major Wall Street indexes (NYSE, Nasdaq, Dow Jones, S&P 500) slid significantly after the Bureau of Labor Statistics report published on Tuesday. All five precious metals (gold, silver, palladium, platinum, rhodium) saw losses against the U.S. dollar during the past 24 hours, with gold down 1.47%. After printing some gains the day prior, the crypto economy lost 5.8% against the dollar on Tuesday as well. During the last day, bitcoin (BTC) has shed 6% in USD value while ethereum (ETH) is down 8%.
Meanwhile, Tuesday’s CPI data has investors believing the Fed will be aggressive when it raises the benchmark bank rate at the next meeting. Mark Hamrick, a senior economic analyst at Bankrate.com, thinks the inflation report for August won’t do much to convince the Fed to act dovish next week. Hamrick expects the U.S. central bank to keep the federal bank rate confined until inflation subsides.
“They want to take their benchmark rate into [economically] restrictive territory and hold it there for longer,” Hamrick opined. “Awaiting what Chairman Jerome Powell has said must be ‘compelling evidence that inflation is moving down, consistent with inflation returning to two percent’ … We remain far from that destination.” Schiff thinks it is absurd that people expect the 2% inflation rate to return, and the gold bug wholeheartedly believes the days of sub-2% inflation will always be a distant memory. In a tweet published on Monday, Schiff stressed:
The days of sub-2% inflation are gone. There’s no going back to the anomaly experienced between the 2008 Financial Crisis and 2021. The inflation chickens the Fed released with QE have finally come home to roost. The price increases experienced thus far are just the beginning.
What do you think about the latest inflation report? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
PRESS RELEASE. Digital asset trading has long suffered due to high crypto exchange transaction fees, regulatory hurdles by regulators, and stringent crypto exchange rules. Then came CoinFloww, the most advanced digital asset exchange.
Based on the world-class digital asset exchange technology, CoinFloww is proud to launch at a time when crypto exchanges are fighting for rights and struggling with a fraught market.
The team behind CoinFloww Exchange is constantly improving the UX and UI so that users can trade easily. In addition, the team will update the new UX and UI design of CoinFloww soon for an even smoother experience.
Rather than profiteering on crypto startups, CoinFloww is on a mission to nurture and patronise upcoming projects. CoinFloww does not charge any listing fee and offers reasonable promotional packages. Often left behind in the crypto ecosystem are derivative users; however, CoinFloww Exchange is a platform that caters to derivative traders with up to 300x leverage.
CoinFloww is not just a digital asset exchange; it is much more than that. Besides typical digital asset exchange functions, CoinFloww has a roadmap to becoming a one-stop application for the crypto user to gain financial freedom.
CoinFloww has recently announced its whooping 150k USD prize pool. Any CoinFloww user can participate in the CoinFloww Bug Bounty Program to win our prize pool of $150,000.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
PRESS RELEASE. Digital asset trading has long suffered due to high crypto exchange transaction fees, regulatory hurdles by regulators, and stringent crypto exchange rules. Then came CoinFloww, the most advanced digital asset exchange.
Based on the world-class digital asset exchange technology, CoinFloww is proud to launch at a time when crypto exchanges are fighting for rights and struggling with a fraught market.
The team behind CoinFloww Exchange is constantly improving the UX and UI so that users can trade easily. In addition, the team will update the new UX and UI design of CoinFloww soon for an even smoother experience.
Rather than profiteering on crypto startups, CoinFloww is on a mission to nurture and patronise upcoming projects. CoinFloww does not charge any listing fee and offers reasonable promotional packages. Often left behind in the crypto ecosystem are derivative users; however, CoinFloww Exchange is a platform that caters to derivative traders with up to 300x leverage.
CoinFloww is not just a digital asset exchange; it is much more than that. Besides typical digital asset exchange functions, CoinFloww has a roadmap to becoming a one-stop application for the crypto user to gain financial freedom.
CoinFloww has recently announced its whooping 150k USD prize pool. Any CoinFloww user can participate in the CoinFloww Bug Bounty Program to win our prize pool of $150,000.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
PRESS RELEASE. Ho Chi Minh City, Vietnam, September 13th, 2022 – METAIN, a real estate co-investment platform empowered by blockchain technology, is expanding its decentralized financial presence with the public launch on September 9th. METAIN solutions resolve inherited problems of traditional real estate investment through following REIT regulations and utilizing blockchain technology, to offer opportunities to invest $10 in real-world high quality assets and earn a 15-25% annual yield interest. METAIN REIT NFT is among the most secured asset-backed NFTs, which become a reliable high-yield shelter for investors in a high risk crypto world.
With partnerships with Avalanche, Deloitte, CBRE, DN Legal, Morgan Lewis, Hong Kong Blockchain Association, Quid Global Bank, and more than 50+ communities, METAIN has a solid launchpad to grow its ecosystem on a global scale.
Blockchain and non-fungible tokens are being applied to an increasing number of new commercial use cases. It is an innovative new technology that holds great potential and can unleash the value of many physical assets. The next wave of blockchain technology will witness the integration of blockchains with real-world assets, which definitely has a significant impact on the real estate business.
Properties investment delivers substantial, constant value growth, but it is not an option for everyone due to location-based opportunities limitation, capital intensity, significant potential for fraud, liquidity challenges, and issues protecting legal ownership when co-investing. Crypto assets investment is the new revenue stream yet it is highly volatile, since the majority of investment asset portfolios are virtual and have no real-world value. By combining the REIT framework with NFT and blockchain technologies, METAIN delivers a novel way to successfully address these issues.
METAIN is a co-investment platform following REIT regulations on the blockchain, with the mission to bring real estate investment opportunities from high yield interest markets to global investors by virtue of immutable blockchain technologies.
METAIN’s REIT NFT is one of the First Asset-backed NFTs, pegged to real-world real estate properties, and representing the rights of unit holders in the investment. As the properties increase in value from the market’s upward trend income is simultaneously generated from leases, renting tenants and consistent due diligence of the asset management team handling the trust fund. METAIN’s first REIT (a.k.a. Vietnam Opportunities Trust 1, VOT1), with a asset valued at $1.97 million, is opened in unison with the DApp launching September 9 2022.
Vision of METAIN is to be the 1st REIT NFT EXCHANGE and ECOSYSTEM in Southeast Asia. while possessing the largest real estate portfolio on blockchain. All to make the opportunities accessible, transparent and secured for any and every investor that joins METAIN.
The current valuation of METAIN’s equity seed round by IDG Capital Vietnam is $12 million pre-money. A crucial part of IDG Capital whose portfolio includes KuCoin, Coinbase, and Ripple (XRP). IDG has already committed $1.8 million in METAIN.
By establishing partnerships with Avalanche, Deloitte, CBRE, DN Legal, Morgan Lewis, Ephelia and Quid Global Bank, METAIN’s public launch on September 9, 2022 marked its most recent efforts to provide the most secure experience for investors and make real estate investment more accessible to global retail investors. These global and dependable partners will be operated as a part of METAIN’s business model in order to adhere to REIT structure, assuring that investors will always be able to receive their money back, even in the worst of situations, with a capital gain proportional to the market price. The action not only paves the way for bridging crypto investors and traditional investors to participate in METAIN on a worldwide scale, but it also demonstrates METAIN’s commitment to expanding the project and its roadmap and product development.
“Traditional real estate Investment is inherently an attractive investment market but exclusively for the rich club, with high entry barriers of capital, high potential fraud. Thus, with METAIN, we want to bring an equal, cross-border, affordable, transparent and safe investment opportunities to everyone”, said by Mr. Nhan Tran, Co-Founder and CEO of METAIN.
“Democratize real estate investment” was the first thing I heard from the Metain team that made me like them. They work well together as a unit, have been friends for almost a decade, and have all achieved individual success. They’re on a mission to do good for the society, and I’m honored to contribute to that effort”, said by Mr. Duc Tran, Managing Partner of IDG Ventures Vietnam.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.
Source From : News