Blockchain technology took the world by storm, seemingly overnight. While investors are looking for the next 10x coin or “moonshot”, purpose driven companies are finding unique ways to use the new technology and web 3 culture to do good. Historically, small groups of dedicated people with a purpose make the biggest waves. “Using Blockchain As a Force For Good” is a short series exploring some of these projects.
Recently, Artist For Addicts had a stealth launch of Recovery Punks, a Crypto Punk inspired project designed to bring awareness to, change the conversation about and fund addiction recovery and connection.
“The Mission of Artists For Addicts is to change the global conversation surrounding addiction from one of judgement to one of compassion, using art as a force for good.”
Recovery Punks is an extension of that mission; using art on the blockchain as a force for good. The project is keeping marketing and “hype” to minimum and instead using education and connection to slowly mint out the entire 10k connection. The Recovery Punks community has contributed by opening up twitter spaces and inviting the public to join the conversation: a conversation about addiction recovery and connection, which Artist for Addicts believes is one of the most important conversations to be had in the current crypto landscape.
The royalties on Recovery Punks are set at 2.5%, 100% of which goes to Artist for Addicts to continue to find creative and fun ways to educate and change the global conversation about addiction.
The Recovery Punks community has formed a council that will allow them to create governance that can increase the royalties, build a community treasury and direct the project through community contribution and vote.
Many investors will continue to follow the hype, looking for the next big thing. The companies, projects and organizations that are finding ways to use new technology and web 3 culture to have an impact might have the last laugh. Their communities are small, but they are hyper-engaged and the reach extends beyond the early adopters of crypto.
While we will have to wait and see what happens, this is a recipe for massive impact and long term success. An important cause, a strong community, real world implications and a founder with an incredible track record. Our team will have our eyes glued to Recovery Punks in 2023.
Recovery Punks is one of the many projects published by Wolf Den Labs focused on having a real impact on people in the real world.
Central Bank Digital Currencies, or CBDCs, have likely become a more popular topic of conversation if you follow the cryptocurrency, DeFi, or overall landscape of blockchain-related activities in the past year.
Recently, countries all around the world have been vigorously testing the Central Bank Digital Currency (CBDC) waters. Though, only 35 nations were exploring a CBDC as of May 2020. However, 105 nations—representing more than 95% of the global GDP—were investigating a digital currency that was supported by the central banks by the middle of 2022. 19 of the G20 nations have a CBDC under analysis.
Attached below is a visual representation of the situation as of November 30, 2022. Especially, most nations are presently involved in exploring research, proof-of-concept testing, or pilot testing.
A Threat to Cryptos: CBDCs
according to a Central Bank of Bahamas research document from Q3 2022, between a CBDC and financial inclusion, CBDCs are very important for financial inclusion as there is a positive link.
However, people all across the world have been weakening their reliance on currency as the digital tendency has been developing quickly, and having electronic copies of other currencies would certainly come in helpful in this situation. Additionally, a fostering adoption will greatly benefit from the low volatility factor.
Howsoever, there are uncertainties that cryptocurrency's method of payment may be in danger in the future. Anastasia Kor, the CMO and board member of the cryptocurrency company Choise.com, explained the situation in a textual commentary to Watcher Guru, stating, The emergence of CBDCs could spell the end of cryptocurrencies for authoritarian governments like China, but experts generally envision a future were crypto and CBDCs can coexist.
In her opinion, "many operators" will favor the decentralized nature of privately produced digital currencies over the centralized nature of centrally backed e-currency since it brings with it "confidence and liberty."
A well-known Indian blockchain expert, Pushpendra Singh, also emphasized the centralized and decentralized components and while speaking with Watcher Guru, he claimed that he did not see CBDCs as any danger to the cryptocurrency ecosystem.
Are all the birds congregating in one place?
Ultimately, the Bahamas are regarded as being at the lead of the CBDC development globally following the debut of Sand Dollar, its CBDC, in October 2020 and It was the first realm in the area to familiarize a digital currency backed by a central bank.
Jamaica launched the JAM-DEX, making it the most recent nation to do so, this summer. Parallelly, the Central Bank Digital Currency was legalized by the Bank of Jamaica (BoJ), composing it equivalent to cash.
Somewhat, China is also ahead of the competition with the beginning of its first CBDC trial series in April 2020. According to reports, 261 million people have created digital wallets for the e-CNY as of January 2022, and more than $13 billion worth of transactions had been made with the digital currency available to overseas athletes competing in the Beijing 2022 Winter Olympics.
Rapid progress has also been made in testing real-world use cases and using CBDCs for settlements. Recently, France and its neighbor Luxembourg took part in a test of tokenized financial markets. To pay a bond for 100 million Euros [$104 million], the two countries developed an experimental CBDC. A well-designed CBDC might play a "vital role" in the establishment of a secure tokenized financial asset sector in Europe, according to the general director of the French central bank.
For its part, the Bank of Japan intends to begin testing the Digital Yen CBDC in the first quarter of 2023. Therefore, the central bank's strategy is to test the digital pilot for two years before deciding whether to continue with the issuance in 2026.
For its CBDC Project, Singapore has concurrently worked with the central banks of France and Switzerland. According to recent reports, the MAS has started its journey to investigate the potential of CBDC for international trade. The nation's central bank later designated the aforementioned project as Ubin+.
Current Situation in India
One of the most recent nations to jump on the testing and trialing bandwagon in India. The aforesaid Asian nation recently began testing its retail digital rupee (ex-R) on December 1.
More than a few other notable nations are well ahead of us in the CBDC competition and Kor gave Watcher Guru his view on whether India was in a disadvantageous position.
As the development team has learned from other central banks from across the world that has carried out their experiments, the Reserve Bank of India's CBDC study is timely.
In reality, Singh agreed with him and believed that India could strategically benefit from both the advantages and disadvantages of the models and designs of other countries.
However, Singh also emphasized how extremely popular the Unified Payments Interface, or UPI, was in India and believed that CBDCs will eventually surpass the mentioned payment method, Singh continued, though, by stating that adoption would take time. In a similar vein, Kon continued, that the Reserve Bank of India has always been thoughtful, and without a doubt, the future will vindicate the reasons why the trials were delayed up to this point as would be seen in how the Digital Rupee uplifts the local economy.
Ultimately, some retailers have already begun letting customers pay for their goods and services using the CBDC and in fact, in a recent interview with the Economic Times, the proprietor of the store chosen for testing the CBDC expressed his view that because the Reserve Bank of India was involved, the money would remain secure in the digital wallet.
Bottom Line
The ongoing research and pilot testing phases being carried out by several nations worldwide will probably be followed by future back-to-back launches, keeping in mind the success done thus far. The torch-bearers can serve as an inspiration to the nations now in the pre-launch phase. But whether or not that all the many monetary types would be able to coexist successfully depends on the time.
Successful presales are frequently a sign of good things for the cryptocurrency industry. The latest significant green cryptocurrency, IMPT exchange, making news after raising millions of dollars in two rounds of the presale, is the finest illustration of this in 2022.
The presale was so successful that the token's development team has decided to list the token early on exchange platforms, which analysts believe will quickly cause the price to increase exponentially.
Opportunistic investors leaped at the chance to buy the currency during its inaugural presale round. The price of IMPT has increased due to the buzz around the news of exchange listings. Many more individuals are showing interest in the concept and purchasing the price at what appears to be ATL as they become aware that IMPT will be live on exchange platforms in less than a week and that the price is poised to pump.
The token's present price is still low, but many investors who delayed their purchases lost the chance to purchase it even more cheaply, and the price will only rise. Given that the presale ends in less than a week, and that's when the price will start to rise, now is the ideal time to get IMPT exchange tokens.
What Is IMPT Exchange?
Unlike projects like Bitcoin, having a negative impact on the environment due to high energy usage, IMPT exchange is a cutting-edge cryptocurrency ecosystem that aspires to be ecologically friendly and support environmental sustainability.
You may connect to thousands of well-known companies through this network, offering them the choice to reduce their carbon footprint while also earning cryptocurrency-based compensation in IMPT coins. These companies include Amazon and Microsoft. These tokens, which double as NFTs, can easily be traded on the blockchain since smart contracts can execute themselves without requiring a central authority to get involved.
More than 10,000 ESG-friendly brands are presently offered through the IMPT shopping platform thanks to the IMPT affiliate network. In return, you can get IMPT tokens.
Carbon Offsets & IMPT
Globally, nations have established some very high standards for limiting climate change. For 2030 and 2050, significant emission reduction goals have been established. However, buying carbon offset certificates is the only way to accomplish those goals.
Businesses and people who cannot considerably decrease their carbon footprint will be able to balance their emissions by purchasing credits that will promote environmentally friendly activities.
The major problem, though, is that the market for carbon offsets is incredibly inefficient. IMPT, however, aims to change that. The new carbon offset effort IMPT is supported by the blockchain. Due to the initiative's decentralized structure, which prevents duplicate counting and fraud, it is incredibly transparent.
The IMPT exchange platform enables the purchase and sale of carbon offsets by individuals, businesses, organizations, and even governments. Even better, they may retire them while also picking up a unique collector NFT. Because these NFTs will be tradable and produced by well-known artists, the IMPT project will be more beneficial as an investment vehicle.
Those who decide to maintain their IMPT assets can also benefit from the asset's rising value. They can swap or sell them to profit from the projected value rise.
Best Features of IMPT
1. Green Project
Because of its potential for long-term survival as a consequence of its value as a green project, IMPT is one of the top cryptocurrency options for you. Investors and affiliates can be part of a project that will transform the world by contributing their allocation to the campaign to halt carbon emissions.
2. The Carbon Offset Market’s Fast Growth - How It Benefits IMPT
Between 2022 and 2027, the market for voluntary carbon offsets is projected to rise at a compound annually @12.71% to reach over $700 million. This is encouraging for the accompanying IMPT green energy project. And if the incredible presales indicate success, IMPT will take off!
3. Blockchain Technology Portrayed In A Positive Light
Blockchain technology has lately come under scrutiny because of its energy-intensive nature and proof-of-work mechanism, which indirectly generates significant carbon emissions. However, IMPT proves it is sustainable by providing a blockchain option to people who care about the environment.
The fact that investors are waiting in line to purchase IMPT during the presale period is not surprising.
Exchange Listings For IMPT
IMPT exchange will go on sale on December 11 at the earliest. Customers who purchased IMPT during the presale can begin claiming their tokens on December 12. Users only need to link the wallet they used to purchase them to submit their claim.
Then the tokens will appear for them right away. Then, on December 14, IMPT is anticipated to list the DEXs of Uniswap, Changelly Pro, and LBank. All three of these esteemed exchanges have approved IMPT exchange for listing, proving the idea's innovation. It considerably increases the credibility of the objectives IMPT has already stated and gives investors confidence that the project is on track.
No Time To Waste in the Conclusion
IMPT is doubtlessly one of the most significant recent new cryptocurrency ventures to reach the market. In addition to being a good investment for those who purchase the token, it will help the world by improving living conditions everywhere. These justifications make IMPT the #1 cryptocurrency on your shortlist of things to buy.
There will be a little longer for IMPT exchange to be available in presale if you need more motivation. It is ideal to benefit from the original cost because it will be published on Uniswap, Changelly Pro, and LBank on December 14. It is believed that IMPT's value will soar once it is listed on such exchanges. Therefore, feel free to buy IMPT before the presale ends.
A decentralized exchange (DEX) is a digital currency marketplace where users may acquire cryptocurrencies directly from one another through an internet platform without the use of a middleman. It varies from a conventional centralized exchange in which a third party (such as a bank, trading platform, government agency, etc.) typically monitors the security and transfer of assets between two parties and takes custody of user funds.
A basic tenet of blockchain technology and the cryptocurrency industry is decentralization. It redistributes power away from centralized authority and gives it to consumers. Decentralization is also reshaping how many traditional financial services function.
GoodCrypto: Introduction
Learning the various features and trading tools on the various trading platforms can be time-consuming. Why not combine trading resources and holdings from many exchanges onto a single platform? content sponsored by GoodCryptoApp
If you actively trade, you are aware that the variety of trading platforms might be confusing. It's challenging to have a consistent trading experience while searching for the finest prospects because each platform has a distinct set of features, trading tools, and opportunities. Tracking your portfolios and quantifying cross-platform tactics can be challenging, even once you understand how to work with a platform's many features.
In order to have a seamless experience across several platforms and receive the finest prospects, many consumers have resorted to GoodCrypto. GoodCrypto is a multi-exchange trading terminal and portfolio management tool all in one. Users can track and manage their portfolios across 35 of the biggest exchanges and 15 different blockchains using cross-platform software for iOS, Android, and the web.
Details on GoodCrypto trading platform for users
One of the most cutting-edge trading systems for controlled exchanges, GoodCrypto was created. Trading activity on GoodCrypto has increased despite the market slump, a sign of the platform's ongoing development. Despite coming from Ukraine, GoodCrypto has over 300,000 downloads on mobile devices and is present in 93 different countries.
Users are drawn to GoodCrypto because of its capacity to offer sophisticated trading tools that function reliably on all spot and derivatives markets. Advertisement When San Diego appeared as a No. 1 on TV, We are defenseless and helpless in the face of illegal activity that goes unpunished. The same features are available on Binance, Coinbase Pro, By bit, and other exchanges. These features include custom order types (from Trailing Stops to Stop Loss-Take Profit combinations), automated trading algorithms (grid, DCA, infinite trailing, etc.), and order triggers based on technical indicators.
Over the last year, a variety of users have been interested in the app's CeFi features, which has resulted in a 4x increase in orders processed. Users still quickly adopt GoodCrypto despite the weak market. This prompted the team to secure a pre-seed round from investors including Fenbushi Capital, GSR, and Cipholio Ventures. GoodCrypto is prepared to start the newest chapter of its journey—decentralized finance—with their assistance.
The ultimate goal is to ensure that trading experiences are the same regardless of the underlying exchange technology by bringing GoodCrypto's uniform trading interface and cutting-edge trading tools to decentralized exchanges. GoodCrypto is currently seeking a seed round to align its objectives with key partners that will support its ambitious roadmap in order to accomplish this.
Despite the difficulties brought on by the present scenario, the team at GoodCrypto is more committed and motivated than ever to keep creating the greatest cryptocurrency trading software available. GoodCrypto is proudly built in Ukraine. The all-in-one platform from GoodCrypto will significantly enhance your trading experience if you are an experienced trader trying to optimize your workflow or a novice trader seeking the greatest CeFi and DeFi experience.
Major media agencies and experts have repeatedly failed to provide readers with a clear interpretation of what happened, despite the fact that Sam Bankman-cryptocurrency Fried's venture was revealed as a hoax in recent weeks. August publications have made several significant revelations on the incident, but they have also frequently appeared to downplay those revelations in ways that minimized Fried's and Bankman's guilt.
The listed Fraud.
It is clear that what happened at the FTX cryptocurrency exchange and the hedge fund Alameda Research involved several intentional and deliberate fraud efforts intended to defraud both investors and users of their money. Therefore, a recent New York Times interview came under fire for appearing to attribute FTX's demise to bad management rather than criminal activities. A Wall Street Journal article has deplored the loss of FTX's charitable donations, presumably validating Fried's strategic philanthropy Bankman-pretensions. Vox co-founder Matthew Yglesias, a court chronicler of the neoliberal status quo, sought to conceal his personal involvements while avoiding the idea that the Bankman-funds Fried's were truly embezzled by attributing them to helping Democrats in the 2020 elections. The most outrageous element of this is that some media outlets have referred to what happened at FTX as a "bank run" or a "run on deposits," despite Bankman-repeated Fried's claim that the business was simply overleveraged and poorly managed. Both of these attempts to cast blame for the consequences obfuscate the real problem, which is the misappropriation of client monies. Banks are vulnerable to "bank runs" since they are obviously in the business of lending client money out to generate profits. They could momentarily run out of money if everyone withdraws at once, but there won't be any long-term problems. Although not banks, FTX, and other cryptocurrency exchanges are not. Since they don't (or shouldn't) participate in lending, even a very sudden increase in withdrawals shouldn't generate a liquidity squeeze. Customers were clearly guaranteed that the firm would never lend out or otherwise use the bitcoin when they committed it to the FTX exchange. Actually, the funds were moved to the affiliated trading firm Alameda Research, where it seems they were just thrown away. Simply said, this is theft on a level that is practically unheard of. Even though the total losses have not yet been determined, a bankruptcy filing claims that up to one million consumers might be impacted. A large number of further decisions and activities that, even in the absence of crypto-specific legislation, would have been regarded as financial fraud if FTX had been a U.S.-regulated firm have been uncovered in less than a month as a result of reporting and the bankruptcy process. These schemes are nonetheless subject to legal action in U.S. courts to the extent that they made it possible for American people's property to be effectively stolen.
Their many crimes.
1. The link to Alameda
The connections between Bankman-hedge Fried's fund, Alameda Research, and FTX, the exchange that attracted ordinary speculators, are at the center of his deception. Unlike an exchange, which eventually makes money from transaction fees on assets owned by users, a hedge fund like Alameda seeks to make money by actively trading or investing funds it controls.
2. The FTT print and 'collateralized' loans
The majority of the FTX exchange token, FTT, which FTX and Alameda held, was produced by FTX, but only a small piece of it was traded on open markets. As a result, their holdings were practically illiquid and couldn't be sold for the open market price. In spite of this, Bankman-Fried recorded its worth at that false market value.
3. Margin liquidation exemption for Alameda Research
According to legal documents submitted by the new CEO overseeing FTX's bankruptcy and liquidation, Alameda Research was said to have special user status on the platform, including a "hidden exemption" from the platform's liquidation and margin trading restrictions.
4. Alameda leading the FTX lists
According to the crypto analytics company Argus, Strong evidence suggests that Alameda Research had access to knowledge regarding FTX's plans to sell certain coins. Alameda was able to buy significant quantities of these tokens ahead of the listing and subsequently sell them since an exchange listing often has a beneficial effect on a token's price.
5. Executive personal loans of a large amount
FTX officials are said to have received loans totaling $4.1 billion from Alameda Research, including substantial personal loans that were likely unsecured. According to documents from bankruptcy proceedings, Bankman-Fried received a staggering $1 billion in personal loans as well as a $2.3 billion loan to a firm called Paper Bird in which he had a 75% ownership interest. Director of engineering Nishad Singh received a $543 million loan, while co-CEO of FTX Digital Markets Ryan Salame received a $55 million personal loan. And the list goes on…
