Deloitte Implements Blockchain Technology for Digital Credentials
In partnership with Polkadot, the Big Four accounting firm Deloitte has implemented blockchain technology to enable customers to store verification credentials in a single digital wallet, thereby streamlining “typically inefficient” verification procedures. Deloitte announced on May 4 that it has integrated KILT Protocol technology — a Polkadot parachain — to issue reusable digital credentials to […]
WEF whitepaper Explains Role of Blockchain in Climate Change
The World Economic Forum (WEF) has recently published a whitepaper that explains how blockchain technology can provide the infrastructure necessary to combat climate change “at speed and scale.” The whitepaper classifies blockchain’s value to the climate action community into four categories. To begin with, blockchains can “strengthen trust and ambition” in climate negotiations. In addition […]
Lazerpay Goes Dark: Nigerian Crypto Startup Fails to Secure Funding
Nigerian crypto and Web3 startup Lazerpay has announced that it will be shutting down its operations after failing to raise funds in a funding round. The startup, which launched in 2021, offered a platform for merchants and users to accept and make payments in cryptocurrencies and other Web3 assets. Lazerpay was one of the first […]
Over $5 million exploited in recent DeFi hacks on Aave and Yearn Finance
As DeFi hacks continue to plague the cryptocurrency industry, PeckShield, blockchain security firm reports that Aave and Yearn Finance are the latest protocols to be targeted by exploiters. Aave’s version 1 was impacted, while versions 2 and 3 remained unaffected. The oldest version has been frozen since December 2022, and the team behind the lending […]
7 Challenges to the widespread adoption of blockchain technology
With blockchain technology, people and processes alike have witnessed faster transactions, accuracy, and data security, however, some challenges have been attached to why the technology has not seen widespread adoption. In blockchain technology, users share ownership and administration of the network through computer nodes, making it a decentralized and distributed data network (ledger). Blockchain acts […]