Raffi I.’s Post

Exciting times in the world of DeFi! Forbes recently highlighted how AI and DeFi are merging to create smarter, more efficient financial ecosystems. This powerful fusion is transforming traditional finance, making way for personalized, data-driven solutions that offer more accessibility and transparency. At VisionX Finance, we’re committed to being at the forefront of this financial revolution. By leveraging AI within our DeFi platform, we aim to empower users with advanced tools that promote financial literacy, inclusivity, and independence. Our mission is to break down barriers, bringing secure, innovative financial solutions to underserved and marginalized communities. As the regulatory landscape becomes more favorable and technologies evolve, VisionX Finance is poised to lead the way in building a decentralized, user-centered ecosystem. Together, let’s shape a future where financial empowerment is within everyone’s reach!

#Web3 native innovators Axelar Foundation and Metrika led production of an insightful MUST READ report on the importance of Institutional Interoperability in the future of #blockchain. 💡 The paper acts as a road map for financial institutions developing tokenized-asset opportunities and facing a complex array of public and private blockchains, alongside client and regulatory requirements. Georgios Vlachos, Director of Axelar Foundation and Co-Founder of Axelar Network said “Tokenized assets are by nature interoperable, bridging assets recorded on off-chain ledgers with on-chain representations. The question isn’t, how do we facilitate one such connection – it’s how do we facilitate potentially thousands of connections across on-chain and off-chain ledgers, in a way that’s secure, scalable and open." Regarding multichain interoperability, Anand Rengarajan, Global Head of Sales & Head of Securities Services APAC, Corporate Bank, Deutsche Bank, commented "Multichain asset interoperability and servicing will likely become a necessity for asset servicers as their clients adopt different chains. It will be essential that asset servicers know how to address and service interoperability with scale, while ensuring digital asset safety to enable sustainable growth that multiple chains can amplify." This excellent paper was authored by blockchain analyst Emily Parker, based on a framework laid out by the Monetary Authority of Singapore (MAS)’s Project Guardian in 2023. Key contributors to the paper include Biser Dimitrov (Global Head of DLT Center of Excellence, Citi), Altin Hoxha (Global Head of Digital Assets Platform Engineering, Citi), Caroline Lin (Digital Assets Associates, Citi), Sorcha Sullivan-Williams (Senior VP, Digital Assets Product Manager, Citi), Boon-Hiong Chan (Industry Applied Innovation Lead Head, APAC Market & Technology Advocacy, Deutsche Bank), Colin DeLarso (Crypto Product Partnerships & Commercialization Lead, Mastercard), Oskar Duris (Global Head of Blockchain Product Development, Mastercard), Rashi Goyal (Director, Product Development, Blockchain & Digital Assets, Mastercard), Soumyajit Mitra (Director, Product Management - Technical, Blockchain & Digital Assets, Mastercard), Alvin Chia (Senior VP, Head of Digital Assets Innovation, APAC, Northern Trust), Sean Mullins (Senior VP, Head of Product Execution, Digital Assets & Financial Markets, Northern Trust), Bhaji Illuminati (CMO of Centrifuge), Marianna Angelou, PhD (Director, Blockchain Analytics, Metrika), and Alexandros (Alex) Nathan (Co-Founder, VP Analytics, Metrika). 👏🏽 #AltBanking The leading aggregator, bringing the best actionable news, information and opportunities in this rapidly evolving ecosystem right to you. Follow us to stay up-to-date! #fintech #finance #tokenization #interoperability #DeFi #DLT #digitalassets #banking #innovation https://lnkd.in/gSnfXcUz

A NEW WEEK OF PASSION BEGINS ON THE FINANCIAL MARKETS: AI ON FIRE ------------------------------- In particular, the AI ecosystem and the first real crypto merger relating to $ASI are under observation. May 22nd and 24th are the dates to mark on our financial calendars. Let's see in detail: 👉 On Wednesday 22 May, the quarterly data regarding revenues and profits of NVIDIA, a company that produces hardware intended for sectors that need great computing power, will be released. And which also indirectly impacts one of the most important sectors for the crypto world of 2024, the one linked to Artificial Intelligence. Over the last few months, NVIDIA's successes have also been successes for the most important cryptocurrencies in the AI sector, and therefore on Wednesday we will have to look at these data with a certain interest, both if we are already investors in $ASI (which will be born this week ), and whether we are investors in the other tokens of the sector. Even if you have never invested or will never invest in NVIDIA stock, Wednesday, May 22 will be an important day for the crypto market. The most popular hardware company in the world dedicated to artificial intelligence will communicate its quarterly data to the general public. We will know more about revenues, profits and all other economic and financial data affecting this company. This data will also have important repercussions on the Crypto AI sector, cryptocurrencies that are directly or indirectly linked to the world of artificial intelligence. Which cryptocurrencies will be involved? Render, but also The Graph, and then the three cryptocurrencies that will coincide with $ASI during the week, namely Fetch.AI, $AGIX and OCEAN. Render, Bittensor, and indirectly related cryptocurrencies such as $ARKM will also be followed. It will also be necessary to evaluate the reaction of Worldcoin, a token that lives a life of its own but is often affected by this type of data. 👉 The $ASI merger also arrives on May 24th It will be a fundamental week for the AI crypto sector also because on May 24th, barring sensational upheavals dictated by any technical problems, $ASI will be launched, a token which is the fusion of three of the largest projects in this sector, namely $FET, $AGIX and $OCEAN. It will be the first truly major merger of the crypto markets, so no one will really know what will happen. So CAUTION.

Definitely a must read for Asset Servicing enthusiasts who are looking at futuristic trends.

"EU releases crypto-asset classification tools to help firms comply with MiCA. EU regulators introduce standardized crypto-asset classification under MiCA with a new test and guidelines to ensure uniformity across the market as regulations begin to come into play. Regulators in the European Union (EU) have issued new guidelines allowing relevant market participants to classify cryptocurrencies and digital assets under the Markets in Crypto-Assets Regulation (MiCA). On July 12, three European Supervisory Authorities (ESAs) — the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) — released a consultation paper intending to standardize and clarify the classification of said assets across the region. Crypto classification under MiCA The newly released guidelines provide a structured approach to classifying various types of crypto-assets.  This includes determining whether a token falls under MiCA through question-based prompts, such as who the issuer is, whether it is based on the blockchain or whether it is a type of financial instrument. It also helps determine whether the token in question qualifies as a standard crypto-asset under MiCA or if it could be classified as another type of asset, such as an e-money token (EMT) or an asset-referenced token (ART). Issuers of ARTs must include a legal opinion in their white papers, clearly explaining the classification of these tokens. The opinion should confirm that the tokens are neither Electronic Money Tokens (EMTs) nor any other type of crypto-asset excluded from the scope of MiCA. For crypto-assets that do not fall under the categories of ARTs or EMTs, the white papers must include an explanation outlining their classification. EU MiCA compliance The guidelines are inviting market stakeholders to submit any comments related to the consultation paper by mid-October, with a virtual hearing to be held on Sept. 23. Patrick Hansen, the senior director of EU strategy and policy at Circle, posted on X called the guidelines “very helpful” and said that he has already seen “many people getting token classifications wrong under MiCA.” Circle was one of the first stablecoin issuers to comply with MiCA, meaning that its USDC and EURC are now regulatory compliant under the new rules. This follows the first set of regulations under MiCA coming into force on June 30, which targeted stablecoins and stablecoin issuers. The next set of MiCA regulations to come into effect are anticipated by December 2024. The Cardano Foundation, which oversees the ADA cryptocurrency,released sustainability indicators in compliance with the forthcoming Markets in Crypto-Assets (MiCA) six months prior to them coming into effect." Cointelegraph

talking about karrier dao The Karrier DAO serves as the decentralized autonomous organization (DAO) that governs the Karrier One Ecosystem. The Karrier DAO acts as the essential governance for the Karrier One network, functioning like the system's central nervous system that ties all diverse types of nodes together. This decentralized system is charged with initiating improvement proposals to consistently improve the Karrier One ecosystem. It achieves this through a model of liquid democracy where KONE ticket holders cast votes on proposals that guide the development of the Karrier One ecosystem. Once a proposal secures approval, it's implemented autonomously or through the central conduit. The Karrier DAO manages communication among all nodes and subsystems across the network. This DAO acts as a go-between and translator for the KNS module, telecom module, and blockchain. It also facilitates communication between Gatekeeper Nodes, and Operator Nodes while interfacing with third-party applications. The primary responsibilities of this module include: ● Processing user registration and proposals ● Voting in and assigning Gatekeeper, Deployer, and Operator Nodes to the network ● Managing and recording different quality metrics in the blockchain ● Simplifying the complexity of the business logic for the rest of the system ● Enforcing rules and contracts set in the blockchain by the telecom module The Karrier DAO operates by allowing users to stake KONE governance tokens to deployer nodes and create voting “Tickets”. Any user can create a Ticket, collectively representing the community's will, steered through algorithms. Tickets are similar to accounts where advance notice for withdrawals must be provided, with the duration of this notice period known as the "withdrawal delay". The voting power of Tickets and their claim to voting rewards is proportional to the amount of staked KONE. Tickets can vote either manually or automatically by following other tickets, illustrating the concept of liquid democracy. The Karrier DAO assures no single company, small group of developers, or node operators has undue influence or control over the network. Additionally, the Karrier DAO ensures that nodes receive appropriate compensation for their services. Ticket holders are engaged in a crypto economic game, where they are incentivized to vote for the approval or rejection of proposals, or to set up ticket followings that lead them to vote automatically in a manner most likely to increase the long-term value of the Karrier One Chain network.

Prediction Markets: Crypto's Killer Use Case 2024 will be a breakout year for prediction markets, putting the final nail in the coffin of mainstream media polling. Prediction markets let people bet on the outcomes of future events. Prices in these markets reflect the collective belief of participants about the likelihood of events happening. "Pricing in" a belief. Examples include sports outcomes, economic indicators and election results. By aggregating diverse opinions, prediction markets aim to provide accurate forecasts and insights into future events. And, there's something about "putting your money where your mouth is" that beats polling. Another benefit of prediction markets, real-time adjustments. When new information arises, the odds shift. Further, prediction markets expose the fraud of polling. Polling Fraud Polling has been used for decades to deceive the public through a cognitive phenomenon called the "bandwagon effect." In short, people adopt beliefs because others are doing so. The "winning" choice. Media amplification aims to create fulfilling prophecies and exert social pressure to "get on the bandwagon" while underrepresenting minority views. This leads to a lack of nuanced debate and considerations of alternative perspectives. Undermining the democratic process. Prediction Market Flaws Prediction markets aren't perfect. They suffer from some of the same herd effects, and niche participation. There can be market manipulation and some markets suffer due to low liquidity. At the end of the day though, I prefer to follow the money. Insider Trading One "flaw" I consider a feature is insider trading. You're seeing this play out in Polymarket's election prediction markets. There are clearly those close to the campaigns taking positions giving the public a crystal ball into future events. Polymarket: Leading the Way in Prediction Markets Polymarket is the clear market leader in what is one of crypto's killer use cases, forecasting. Prediction markets benefit from bets recorded on an immutable ledger, which enhances transparency, allowing everyone to verify the integrity of the market. Decentralized prediction markets eliminate the need for a central authority, reducing the risk of manipulation. Smart contracts automate the execution of bets and payouts and anyone can create custom bets. Crypto Prediction Markets: The Future is Now Mainstream media can't hide the truth anymore. Only old people still believe in polls: Hopeium. Prediction markets represent a transformative application of blockchain tech, addressing the limitations of traditional prediction markets. By offering anonymity, enhanced transparency, lower costs, global accessibility, privacy and incentivized accuracy, they stand out as a killer use case for the crypto. These markets will revolutionize the way we predict and understand future events.

Dear friends, At the beginning of the year, we left behind the development of quantum-safe DeFi wallet infrastructure, to solve a more immediate Web3 problem: DeFi interoperability—the lack of. Ambient was born. As time passed we lost one co-founder. Then gained another. Recently we lost another co-founder. And then we gained another. Only one of the three original founders remained. Me. We didn't know the problem we were solving until we went through the journey. I have a saying: try as hard as possible but no harder. Every no, yes, or maybe, led us to iterate. The problem we are solving today is not dissimilar to where we started, but now we know the specifics: who the customer is, how it affects them, the cost to them, and the sales pitch. We are building a product that people need and we know the features and benefits. What's the biggest difference between now and then? We didn't know our market but we now do. We were able to create and communicate a vision. Our north star. What is our north star? An autonomous AI system that rebalances DeFi pools across chains to ensure capital efficiency. The AI's north star is capital efficiency, second is profit. We are building a public good that is governed by the people, for the people. The AI agent is governed by a decentralised protocol with a community of digital token holders. The governance of AI is continually being debated by private, public, and government organisations. We all need the right governance structure so we don’t become slaves to the machines. As Ambient, we are building a decentralised protocol that ensures no one person or entity has outright control. Any changes to Ambient’s AI is voted on by its community members. The voted-on changes are automatically executed by the smart contract. We, the people, can trust our vote counts - the AI serves the community at all times. We can trust the AI as much as we trust ourselves. Thanks, Neil Staunton Founder & CEO

The battle over hearts and minds is won in subtle ways. Market participants involved in blockchain-related technologies should stop using the word "crypto", which evokes in non-participants images of ghosts and spies. It is time that we start referring to the various products and segments with more accurate names and not create a big bucket for very different products and services that have only blockchain technology (and some not even that) in common. There are value-cyber-capsules: These embed economic value in code, enabling that economic value to travel across the universe at up to the speed of light, the only friction created by the time it takes the code logic to write and spread the recordation of new ownership. There are contract-enabling coding systems that enable participants to write their own proposal-acceptance protocols. This area is still under development, waiting for someone to bring clarity to the space. But I think soon the technology will find clarity. It is about writing contracts globally and like paper contracts these come in two varieties: Off-the-shelf forms for simple transactions and write-your-own for more complex. The glut is that there are not enough lawyers who can code and there are not enough coders who know law and the process of relationship structuring. This will be remedied when lawyers can code. Coding should be taught in the law schools of the future. There are also blockchain-enabled markets for securities and commodities trading. Both regulators and market participants are confused because they are trying to figure out whether the "digital representation" of a security or commodity contract is a security, but this is like the men in chains in Plato's cave metaphor, looking at shadows that represent representations of images of the real things. There are some looming issues to note: At the moment, laws are best national, but the great innovation in blockchain/digital ledger technology is that it knows no borders, its byways and channels being light particles. So the great challenge of national regulators is how to regulate minds connecting potentially across the universe (at least the part of the universe that is within the radius of, say, a 10-minute journey from the center of earth outward at the speed of light -- Mars when it is inhabited) and agreeing to exchange anything from ideas to services to products. {The distinction between ideas and services is fuzzy}. So, national regulators (and jv's of national regulators such as the EU Commission) are kind of challenged, except where ethereal things need to materialize themselves (for example, as fiat to enter into regulated physical transactions such as a car purchase or drawing a salary): That's where they can exercise their control. Hence the focus on AML and things that enable regulators to exercise control. The rest is a scary proposition: Regulators going after the technology itself and those who are developing it.

The last month of the year brings about speculations and expectations. Itai Avneri helps bring clarity with his 2024 analysis and six megatrends that will define digital assets in the coming year. Take notes: https://bit.ly/3RsVVFu