Lưu trữ cho từ khóa: Digital Assets

Công nghệ

Hedera and Cardano join the DeRec Alliance as founding members

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Cardano developer Input Output and Hedera are the latest cryptocurrency entities to join the Decentralized Recovery Alliance as founding members.

The alliance announced on Sept. 5 that the entry of Hedera (HBAR) and Cardano (ADA) completes the list of members that will serve on DeRec Alliance’s technical oversight committee. Other members include Algorand Foundation, Ripple, Hashgraph, and XRPL Labs.

A standard protocol for digital assets recovery

Decentralized Recovery Alliance, or DeRec Alliance, launched in January 2024. The entity, established by Hedera co-founder Leemon Baird, comprises web2 and web3 companies working on a common platform that looks to make crypto recovery easy for web3 users.

Crypto’s need for enhanced security and recovery has also seen the development of the smart contracts-powered feature called account abstraction. Several crypto teams, including BNB Chain, Optimism, Polygon, and Arbitrum have worked on networks that offer a similar standard.

With features such as accounts, keys, and passwords being a hurdle for many, a standard that simplifies the safeguarding and recovery of crypto assets is key. DeRec offers a recovery standard that boosts the overall adoption of crypto via a solution that protects users’ data.

“From the very beginning, Hedera has been at the forefront of digital asset security. The DeRec Alliance takes this one step further by introducing an open-source protocol that simplifies asset recovery, aligning closely with our mission to enable a new era of trust and transparency. We are proud to join this alliance and make asset protection more accessible and user-friendly.”

Charles Adkins, Hedera

Other partners of the DeRec Alliance include DLT Science Foundation, Oasis Protocol Foundation, Hashpack, and Palisad. Ripple joined as a founding member in May 2024.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Pháp Lý

Qatar introduces new digital assets framework

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Qatar has unveiled a new digital assets regulatory framework, with its launch set to bring key areas such as tokenization, custody and exchange under regulation.

The Qatar Financial Center Authority and the Qatar Financial Center Regulatory Authority, key players in the drafting of the framework, announced the new framework in a joint press release.

Qatar’s QFC Digital Assets Framework 2024

According to details in a press release, the QFC Digital Assets Framework 2024 is an effort of various stakeholders, including 37 domestic and international organizations across legal, financial and technology sectors.

The QFCA and QFCRA said in their announcement that the new crypto regime followed guidelines from the country’s central bank. Work on the regulation included the unveiling of the QFC Digital Assets Lab in October 2023. Since this milestone, more than 20 fintech startups have joined the program to pilot and commercialize crypto products and services.

QFC Digital Assets Framework 2024 provides for various legal and regulatory aspects of the digital assets market in Qatar, QFCA and QFCRA noted.

Other than tokenization, the framework recognizes the tokens as property and provides for the legal outlook on their custody, transfer and exchange of these assets. Qatar’s new framework also legally recognizes smart contracts and sets industry standards for cryptocurrencies in the QFC.

Growing crypto regulatory clarity

While the U.S lags, Europe has taken major steps with its MiCA rules, and Hong Kong is increasingly becoming a crypto hub.

Meanwhile, Qatar’s digital assets framework aligns with developments across the Middle East, particularly in the United Arab Emirates. The UAE has become one of the top destinations for crypto companies with its increased regulatory clarity.

Dubai and Abu Dhabi are the main centers, with the respective Dubai International Financial Centre and Abu Dhabi Global Market key to the region’s growing status as a financial and crypto hub.

In a comment on the topic, Qatar Central Bank governor H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani, said that the regulation is a key step towards clarity for the financial sector. The opportunities and gains this offers add to the country’s digital transformation and vision 2030 goals, Al Thani added.

Yousuf Mohamed Al-Jaida, chief executive officer of QFC, added that the new framework underlines Qatar’s commitment to aligning its digital assets regulation with international best practices. Authorities anticipate that the milestone will provide for regulatory clarity that both domestic and international players within the ecosystem want.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Crypto payments: Flexa introduces toolkit to simplify digital payments

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Flexa has launched Flexa Components, a new suite of mobile tools designed to streamline digital payments within wallet applications.

The toolkit is designed to address the long-standing fragmentation in the digital payments industry, where disparate systems and high transaction fees have created barriers for merchants and developers alike.

Its interface supports wallets using Bitcoin (BTC), Ethereum (ETH) , Litecoin (LTC), Polygon (MATIC), Zcash (ZEC), and more.

This news comes as Apple is set to open its iPhone payment chip to third-party developers. This change will allow developers, including those in the crypto industry, to access the iPhone’s Near-Field Communication technology for in-store payments, transit fares, and other uses. 

The announcement and similar developments, such as Flexa’s new toolkit, could make crypto more mainstream and enhance its adoption.

This follows a developing trend as financial regulators explore the reshaping of digital payments by merging blockchain and AI. This shift is leading to tokenized value exchange and the rise of bots as new consumers. As a result, transparency and efficiency are becoming paramount for traditional financial practices to adapt.

Flexa’s toolkit

The Flexa toolkit allows wallet apps to interface directly with merchant point-of-sale systems and supports various digital assets for instant payments across the U.S.

The toolkit includes zero transaction fees, instant payment capabilities, and a user-friendly interface that integrates easily into existing wallet apps. It is designed with privacy in mind, minimizing the collection of personal data to ensure secure and private transactions.

Flexa Components offers developers a comprehensive support system to easily integrate digital payments into their apps. Merchants benefit from faster payment processing, lower fees, and enhanced customer experiences, with reduced risk of fraud or chargebacks.

Flexa’s broader goal is to make digital currencies more accessible and functional in everyday transactions. The launch of Flexa Components represents a significant step in this direction, as the company continues to evolve its offerings to meet the growing demand for seamless digital payments.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News