Today, it’s hard to find anyone who has not heard or knows about the cryptocurrency market. This intriguing space has attained a massive following in recent years, with statistics showing the predicted number of identity-verified crypto asset users by June 2023 as high as 516 million. With so many people in the space, it’s not […] More
It will be harder to keep your identity secret (not easy, but it has been difficult so far). But at the same moment, it will also become easier. It’s not something you would choose if given the choice.
RealDID, a blockchain-based national system to verify citizens’ identities, is set to be launched by the People’s Republic of China in a world-first initiative. Project RealDID, led by the Ministry of Public Security and developed by Blockchain-based Service Network, a company that provides blockchain infrastructure to state clients as well as commercial ones, is a first of its kind.
Where’s the easier part of this?
RealDID allows users to register and log in to websites and apps using decentralized identifiers and private keys, without divulging any personal information. This approach helps to keep personal information and business data separate.
The RealDID state-run system will “secure” the user’s real name. If you want to sign up for a service that you would like to keep a secret, your anonymity is limited.
This announcement comes after a change to regulations that requires top influencers reveal their identity. Since October 2018, the largest Chinese social media sites, such as WeChat and Sina Weibo have required online celebrities with more than 500,000 followers or one million to reveal their identities.
Hong Kong will launch the BSN in 2020. This network is the backbone of large projects, whether state-backed or private. It currently supports DLT infrastructures for more than 1,500 firms, including some foreign companies like Fujifilm. Western firms are also not afraid to leverage China’s Blockchain architecture. HSBC UK, a banking giant in the UK, is evaluating the BSN’s potential for their payments system.
The BSN Spartan Network launched its beta last year. Public permissioned networks support popular blockchains such as Ethereum and Polygon Edge but do not include cryptocurrencies. Large corporations like Emperor Group Lan Kwai Fong Group and HSBC run the validator nodes.
The Plot Thickens in the Crypto Wild West Hold onto your crypto wallets, folks! The wild west of blockchain just got a little wilder. Our friendly neighborhood Binance CEO, Changpeng Zhao (you might know him as “CZ”) plans to hang up his hat and plead guilty to not playing nice with U.S. anti-money-laundering rules. The […] More
The Kylie Jenner NFT Extravaganza Alright, crypto geeks and Simpson fanatics, let’s dive into the deep end of this pool. The “Treehouse of Horror” episode of The Simpsons just took a wild turn into the world of non-fungible tokens (NFTs), with a surprising celebrity guest – the one and only Kylie Jenner! But hold onto […] More
Crypto and Global Terrorism Financing: Squashing Old, Crypto Rumors US Deputy Treasury Secretary’s Remarks In a recent speech, US Deputy Treasury Secretary Wally Adeyemo addressed the controversial topic of cryptocurrency’s role in global terrorist financing. His remarks provided a different perspective from the alarmist comments made by numerous congress members earlier this month. These congresspeople […] More
Event Summary Get ready for a groundbreaking event in cryptocurrency and blockchain technology! The 1000x.GLOBAL Crypto Conference will take place on November 11, 2023, redefining the conference landscape with its unique format as the first-ever 100% online conference dedicated to tokenization, web3, and diverse aspects of the crypto ecosystem. Why Attend the 1000x.GLOBAL Crypto Conference? Unparalleled Accessibility: […] More
Turkish Crypto Founder Sentenced to Absurdly Long Prison Term When “Oops” Turns Into “Oh No!” In a plot twist worthy of a Hollywood blockbuster, Faruk Fatih Ozer, the founder of Thodex, a failed cryptocurrency exchange, has been handed a sentence that would make even the most audacious criminal blush. Brace yourselves, folks, because Ozer has […] More
Ledger CEO Confirms Government Access to Private Keys Through Ledger Recover Feature In a recent chat with Ledger CEO Pascal Gauthier, he confirmed what many crypto enthusiasts already suspected – that the government could get access to clients’ private keys through the Ledger Recover feature in certain cases. But don’t worry, if we are to […] More
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the United States dollar in Nigeria.” […] More
…or at least you’ll wish you never guessed. Hold onto your seats, fellow Bitcoin enthusiasts, because there’s some breaking news that’ll make your jaw drop! We recently found out that one of the whales holding over 1% of the BTC supply is none other than a powerful entity known for holding massive amounts of assets. […] More
Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed. Hillary Clinton on U.S. Debt Default and Dollar Losing […] More
Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the Chinese yuan as an alternative to the USD. Roubini on U.S. Dollar and Chinese Yuan as Global […] More
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