Worldwide Web3 Wonderland | Edition #30 – May 2023

Summary of news from 25th May to 1st June 2023

Jun 2, 2023

Happy Friday, Web3 Wanderers!

As we embark upon another delightful web3 weekend, it's time to dive into the captivating world of Web3 and uncover the thrilling events that have unfolded. This dynamic digital landscape continues to astound us with its endless possibilities, capturing the attention of institutional investors who are eagerly delving into its remarkable potential. Which is why we bring you the freshest edition of the WWW newsletter, serving as your trusty guide to all the happenings in this ever-evolving domain!

Sit back, relax, and allow us to keep you in the loop with all the scintillating details via our handpicked selection of the top 10 highlights:

It’s been a moment of groundbreaking collaborations in the web3 arena – Coinbase and Bitpanda joining forces to connect Coinbase with banks in Europe who are looking to offer digital assets to their customers via Bitpanda Technology Solutions. Meanwhile, Tech Mahindra and EarthID teamed up to co-create a blueprint for a Self Sovereign Identity (SSI) powered Metaverse platform that will provide users control over their data and consent, granting them the keys to unlock a boundless realm of digital experiences and interconnected possibilities.

Rippling through the bulletin, Ripple was in the news for its plans to participate in Hong Kong Monetary Authority’s digital Hong Kong dollar (e-HKD) CBDC pilot program by showcasing a real estate asset tokenisation solution via a partnership with Taiwan’s Fubon Bank and others. The company will reveal its new CBDC platform at the same time.

Amidst remarkable revelations, Andreessen Horowitz (a16z) introduced a Solidity library called "Cicada" for anonymous voting on the Ethereum blockchain. This innovative tool relies on time-lock puzzles to encrypt the contents of votes until the conclusion of the polling period. Solid World opened forward carbon liquidity pools that allow the purchase of mangrove-based carbon credits on an automated market maker, supported by Polygon's blockchain.

Fundings poured in for web3 players the past few weeks, with Tools for Humanity raising $115M in a Series C funding round led by Blockchain Capital to accelerate research and development and growth efforts on the Worldcoin project and the World App, and Wallet-as-a-Service provider Magic raising $52M in funding led by PayPal Ventures to continue to deliver more value to their customers by enabling an array of web3 use cases

Summing up exciting developments in the world of blockchain and virtual assets, Solana successfully integrated AI into its blockchain by leveraging the ChatGPT plugin and increased the funding for grants exploring the intersection of the Solana blockchain and AI to $10M. Hong Kong’s Securities and Future Commission announced that it will accept licence applications from virtual asset trading platforms that agree to follow the SFC's guidelines, which would then be able to serve retail investors. Meanwhile, Crypto.com achieved a significant milestone by obtaining a major payment institution licence for digital payment token (DPT) services from the Monetary Authority of Singapore.

Web3 Word Of The Week: Self Sovereign Identity (SSI)

Self-Sovereign Identity (SSI) is a model that gives individuals and businesses full ownership and control of their digital identities without relying on a central authority, giving users complete authority over how their personal information is stored and used.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

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