Worldwide Web3 Wonderland | Edition #29 – May 2023
Summary of news from 5th to 17th May 2023
Greetings, Web3 Explorers!
Embrace the enchantment of the weekend as we unveil the next chapter of our Worldwide Web3 Wonderland. Step into a virtual oasis where visionaries and innovators unite, guiding you through the mesmerising realms of the ever-evolving web3 landscape, as they carve a bold path towards an extraordinary future adorned with captivating web3 applications!
Step into the extraordinary world of OakNorth, a fintech trailblazer that has revolutionised the industry with its unparalleled business model.
Over the course of its 10 years, OakNorth stands tall, driven by a strategy that ensures not only profitability but also scalability and remarkable growth.
What's their secret? OakNorth has cracked the profitability code by seamlessly blending its lending operations to mid-corporate clients in the UK with the licensing of their cutting-edge technology to banks across the US, Europe, and Asia.
Uncover the captivating tale behind OakNorth's journey, delve into its secret formula that fuels its unrivalled growth, and witness firsthand how they continue to redefine the boundaries of success in every aspect of its enterprise.
Get ready to surf through our carefully curated collection of the top 10 highlights that will leave you spellbound by the wonders of the web3 world:
The convergence of innovation and possibility heralds a new era as Alibaba Cloud joined forces with Avalanche, crafting a blockchain-based metaverse exclusively tailored for businesses within the Alibaba ecosystem. Meanwhile, the Royal Government of Bhutan's commercial arm, Druk Holding & Investment, forged an eco-conscious alliance with Bitdeer to develop environmentally sustainable, carbon-free digital asset mining in Bhutan.
Revolutionising the crypto experience, Nilos and Modulr united to offer virtual EU IBANs for crypto-engaged companies, while Worldcoin introduced the World App, a crypto wallet enabling seamless crypto token transfers via Polygon.
Embracing the dawn of a transformative era, Standard Chartered forged an alliance with Dubai International Financial Centre (DIFC), jointly shaping the future of digital assets, and encompassing the realm of digital asset custody. Simultaneously, Digital Asset unveiled Canton Network, a privacy-enabled interoperable blockchain network designed to provide a decentralised infrastructure for institutional clients, with participants including Deloitte, Goldman Sachs, BNP Paribas, S&P Global, and Microsoft, amongst others.
The collaboration between Warner Music Singapore and Affyn teamed up to ignite new possibilities for artists and audiences in the gaming industry by creating unique experiences, while MakerDAO launched Spark – a groundbreaking marvel that aims to usher in a new era of lending and borrowing. With an unwavering focus on users, this protocol offers flexible rates without the need for collateral along with a unique auction system.
Concluding the latest developments on a few noteworthy fronts, we had Ripple securing the acquisition of Metaco for a staggering $250M, propelling its tokenised asset services to unprecedented heights as it expands to the Middle East with a new Dubai office, and ZkLink raising $10M from investors, including Coinbase Ventures, to drive its mainnet launch in the third quarter.
Web3 Word Of The Week: Ethereum Virtual Machine
The Ethereum Virtual Machine (EVM) is the computation engine for Ethereum that manages the state of the blockchain and enables smart contract functionality after each new block is added to the chain.
That's all for now!🤘
We hope you enjoyed this edition of the Worldwide Web3 Wonderland!
If you're hungry for more fintech insights, check out some of our other work at WhiteSight.
Our latest publications include –
From iPhone to iBank: Analysing Apple’s Embedded Finance Adventures
The State of Banking-as-a-Service in the UK & Europe in collaboration with Toqio
If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.
FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.
And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️