Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:
Is the UK more receptive to digital assets than you think? - the Financial Conduct Authority (FCA) has come under pressure to speed up the time it takes to admit new organisations to its crypto register and has also provided greater regulatory clarity around digital assets. Meanwhile, the UK government, Treasury and HMRC have all been vocal in their support for digital assets, as can be seen with the UK looking to issue its first blockchain-based debt instrument.
How blockchain is impacting the electric vehicle market - climate change has been one of the biggest concerns of humankind, our actions very much having fast-tracked these changes over the last century. One such activity is by the transportation of ourselves as humans. This mere activity has caused severe connotations for the environment and climate at large. Electric vehicles have emerged to solve this problem, but the adoption of electric vehicles creates another problem of its own. This article will be looking at the many ways blockchain technology can solve this problem.
How the metaverse will change the world - many companies are engaging with the metaverse, already partnering amongst themselves, pouring capital and raising funds. In 2021, $10 billion was raised by metaverse-related companies, surpassing as much as twice what they raised in the previous year. The global value creation opportunity from the metaverse is predicted to be $1trillion by 2030, and potentially will change our world.
Crypto’s flight to transparency- the decision to freeze withdrawals by Celsius and Three Arrows Capital only weeks after Terra’s algorithmic stablecoin collapsed has dealt yet another blow to investor confidence in crypto. The regulatory and, ironically, transparency puzzle pieces are still missing from the crypto jigsaw.Recent events have been attributed to failings of decentralised finance (DeFi), however, contrary to popular belief, DeFi actually did its job. Investors are now hyper-aware of how their assets are being treated or rehypothecated and are demanding more transparency.
