Layer-1 blockchain platform Algorand has been chosen as the public blockchain to support an “innovative digital guarantees platform” to be used in Italy's banking and insurance markets. The Algorand-supported platform is expected to be launched in early 2023. According to Algorand’s Dec. 13 announcement, this is the first time an EU Member State will use blockchain technology for bank and insurance guarantees. A bank guarantee is when a lending institution promises to cover a loss if a borrower defaults on a loan. It's an alternative to providing a security bond or a deposit to a supplier or vendor. An insurance …

You are about to read a half-fiction witty story based on Stuart Hylton’s review of “the making of Modern Britain” and my interpretation of the blockchain’s impact on today’s world. I found it fascinating how the description of the industrial age front-runner technology resembled the awe and fear of blockchain in modern times. Some quotes are so relevant that changing the “railroad company” to “blockchain protocol” would give the same shilling. After several “bubbles” (actually eight so far) and some huge announcements — remember Libra and TON? — I figured it was a good time to coin (pun intended) the …

Those who studied history well might remember the city-states of medieval Europe. Back then, caravans of merchants traveled from one city-state to another, bringing luxury goods and news from far-away places. It was this lifestyle that enabled these merchants with freedom of mobility and choice. It is a very similar concept to the one described by Michael Ondaatje in his book The English Patient. The author envisioned complete freedom, without borders or nationalities limiting people in their strive for development and progress. Today, broader access to the financial markets through decentralized finance marks the beginning of the open world. DeFi …

Eventually, all museums will build their digital copy in the metaverse, according to Dmitry Ozerkov, the head of the Contemporary Art Department at The State Hermitage Museum. Ozerkov is currently developing the “Celestial Hermitage”, a digital version of the iconic Russian museum, which will be exhibiting NFT art. "We are all moving into the digital era and our digital twin will be following us everywhere", Ozerkov told Cointelegraph in an exclusive interview. The State Hermitage in Saint Peterburg, Russia, is the largest museum in the world by gallery space with around 3 million works of art. In September 2021, the …

Digital currency plans by Spanish banks must now be reported according to sources at the Banco de España, who claimed that the central bank wants to examine the effect that digitalization is having on financial services. The Bank of Spain has been quiet for years on the subject of digital currencies. However, this year, it's stepping up and asserting itself. After establishing a digital currency service providers' registry, it's moving on to the banks. According to a report from Spain's El País, the Banco de España is now on the lookout for additional information from financial organizations dealing with digital …

By laying the foundations of the Internet of Value, cryptocurrency and blockchain will generate more wealth than Web 1.0 and Web 2.0, said Mark Yusko, CEO of Morgan Creek Capital, in an exclusive interview with Cointelegraph. “We haven't even gotten to the parabolic growth part of Web 3, which is going to create untold wealth,” stated Yusko. In his career as a hedge fund manager, Yusko profited from investing in early internet technologies. He embraced cryptocurrency in 2017 after realizing their potential to power the Internet of Value — a new iteration of the internet that will allow users to …