Hong Kong’s Web3 Industry Leaders Form New Associations To Promote Virtual Asset Growth and Development
Two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, have been formed by leaders in Hong Kong's Web3 industry. The aim of the associations is to promote growth and development of the virtual asset industry and decentralized internet. The founding board of Web3 Harbour includes industry leaders from Animoca Brands, DLA Piper, and WHub, with PwC Hong Kong joining as a knowledge partner. HKLVAA's founding members comprise representatives from Securities and Futures Commission (SFC)-licensed firms with approval for virtual asset activities in Hong Kong. Both associations are now open for membership applications and plan to initiate community activities, research projects, and educational programs starting in July.
SharkTeam: Analysis of Jimbos Protocol Lightning Loan Attack Principle
On May 28, 2023, Beijing time, Jimbos protocol fell victim to a lightning loan attack, with the attacker profiting approximately $7.5 million.
Cheqd CEO Explains How Blockchain-Based Reusable KYC Could Be the Breakthrough for Security in Web3
Fraser Edward, CEO of Cheqd, believes that blockchain-based reusable KYC will be a game-changer for security in Web3. By using this technology, users can undergo the KYC process once and obtain re-usable credentials that can be used with different service providers. This will significantly expedite onboarding processes and enhance user satisfaction. Cheqd's Trusted Data Market is also focused on providing trustworthy data that can support risk reduction in lending for DeFi. The startup has been nominated for Startup of the Year by HackerNoon and its CHEQ token is currently trading at $0.054.
Opera Points Launches Web3 Rewards
Opera has announced the launch of its new rewards program, Opera Points, which allows users to earn rewards for using the Opera browser and engaging with Web3 applications.
Crypto and Asian Markets Strong as White House Averts Debt Ceiling Crisis, China's Web3 Policy Outlined in Whitepaper
Bitcoin and Ethereum prices have surged by 5.2% and 4.9%, respectively, following the White House's announcement of a deal to avoid a debt ceiling crisis. The CoinDesk Market Index (CMI) has also risen by 4% to 1,209, while the Nikkei 225 in Japan and Australia's ASX 200 have opened strongly on the news.
Web3 May Flip Content Consumption on Its Head but Still Needs Traditional Media: Myco Co-founder
Myco co-founder and CEO, Alexis Barreyat, believes that while Web3 technology may disrupt content consumption, traditional media is still essential. Barreyat said that Web3 will give users more control but that does not mean theydo not need traditional media.
Epic Games Expands Web3 Game Lineup: 20 New Titles Coming Soon!
Currently, Epic Games already has five NFT games available in their marketplace. However, their executive, Steve Allison, has exciting news to share. He revealed their ambitious plan to introduce nearly 20 additional NFT games, expanding the gaming options for enthusiasts and further embracing the potential of blockchain technology. Although Epic Games is not the developer behind the NFT games, Allison states that the games in their lineup are achieving impressive results.
Beijing unveils white paper to foster web3 innovation and development
Beijing has released a white paper aimed at promoting innovation and advancing the web3 industry. The "Web3 Innovation and Development White Paper (2023)" was unveiled at the Zhongguancun Forum by the Beijing Municipal Science & Technology Commission. The paper recognizes web3 technology as an "inevitable trend for future Internet industry development" and aims to establish Beijing as a global innovation hub for the digital economy. The commission plans to allocate a minimum of $14 million annually until 2025 to achieve this goal.
Hong Kong Police Launch CyberDefender Metaverse Platform to Educate Public on Web3 Dangers
The Hong Kong Police Force's cyber security unit has launched CyberDefender, a new metaverse platform aimed at educating the public about the potential dangers associated with Web3 and the metaverse. The platform was unveiled on May 27, along with an online event called "Exploring the Metaverse," which discussed crime prevention strategies within the metaverse. The CyberDefender educational initiatives are focused on the younger generation, with the aim of raising awareness among teenagers about the latest advancements in information technology and the importance of preventing technology crimes. The Hong Kong Police Force received 663 reports involving virtual assets during Q1 2023, with a total loss of $570 million, a 75% increase compared to Q1 2022.
Bitcoin Surges Past $27,000 Following US Debt Ceiling Deal
The price of Bitcoin rose above $27,000 after President Joe Biden and top Republican Kevin McCarthy reached an in-principle debt ceiling deal. Biden confirmed the deal on Twitter, stating that it was a crucial step towards reducing spending and avoiding a potential default. The announcement of the deal just days before the June 1, 2023 deadline had a positive impact on the crypto market, but further negotiations are required before the agreement can be presented to the United States House and Senate. Check out these top 10 Web3 games to discover in 2023.
