Connect with us

News

Traditional Learning Disrupted by Metaverse Schools

Published

on


Web3 education: There are new players in on-chain education, that could disrupt traditional systems, says Patrick Hagerty.

With the arrival of Web3 comes easily accessible educational opportunities. In such a new ecosystem of ideas, traditional education could be disrupted like never before.

Web3 Education: Potential Benefits

There are two major, undeniable benefits to on-chain education. The first comes from accessing informational and educational tools, services and products from anywhere in the world, no matter who you are. This means if you are in Europe and wanted to catch a lecture from a world-renowned professor at a university in Asia, you would be able to easily gain entry and listen in. 

There is an education problem faced by under-developed countries on a daily basis. Citizens of these countries often struggle to afford and physically access the proper tools to expand their skills and grow their knowledge. In the rare instances they are accessible, these opportunities sit behind “paywalls,” costing much-needed capital.

The second major development for education inside Web3 is on-chain degrees. Many under-developed countries do not have reputable certification programs. This causes top-tier universities around the world to disregard degrees and other significant academic achievements. This restricts citizens living in these countries from finding work abroad using these degrees or pursuing further education abroad.

Educational Gaps are Being Filled

The layer one blockchain, Cardano, has primarily been focused on improving educational gaps in under-developed countries across the globe. They are bringing on-chain degrees to over five million Ethiopian students that will be recognizable anywhere. And they have started working on creating digital identities and advancing financial acceptance for Tanzanian communities. 

Cardano’s goal is similar to that of many other Web3 and blockchain initiatives in making education easily accessible in countries where it is not. Financial and educational inclusion go hand-in-hand in many of these countries. A more educated society often has a more financially inclusive system. Countries that typically lack education often lack financial inclusion. 33% of children in Africa are not in school by the age of 14 and that number doubles by 17 years of age. In tandem with Africa’s education system, only 20% of people living in the entire continent operate bank accounts. 

Web3 education: There are new players in on-chain education, that could disrupt traditional systems,

On-Chain Learning

On-chain learning encompasses both the actual education aspect as well as bringing degrees and certifications onto an authentic and trustless system accessible from anywhere. But what does on-chain learning physically look like?

Of the new Web3 education offerings, an example is The Alter Ego Group. They are building the MMXXII metaverse for cultural preservation. They say it will bring affordable and accessible education to all corners of the globe. As long as an internet connection can be made, users will be able to access the Alexandria Library of the 21st century. The plan is that it will contain different educational materials and tools as well as information about the architectural wonders of the world.

This metaverse and library are primarily focused on on-chain education, and to preserve history. The company say that the metaverse library will aim to be a beautiful and vibrant digital version of a physical library. People can enter and read any books digitized in the collection, listen to recorded lectures and see priceless artifacts.

The accessibility of Web3 is the real superpower of the entire industry, no longer tying services or products to physical location requirements. Without having to actually afford a university or attend a library to consume this information and receive the knowledge, education metaverses like MMXXII may break barriers inside the traditional education system.

Web3 Education: Other examples

NFT project, Roo Troop, focuses on both education and job placement. It assists qualified Web3 participants to obtain careers after getting educated. It has a Web3 job board, and is well positioned to drive innovation, adoption and education. 

Be[In]Crypto itself provides many educational resources on the Learn page. You can learn about cryptocurrencies and NFTs as well as trading and investing. And, there’s a downloadable e-book on cryptocurrencies and sustainability efforts in the industry. Each lesson is labeled according to its difficulty, and trending lessons are brought to the top. It helps to know what everyone else is talking about. 

Projects like these are essential to the advancement of Web3 education. Without properly educating people, they cannot be properly onboarded into Web3 and cannot participate. The goal of Web3 is inclusion and accessibility in a trustless way, and this starts through education. 

Because there are so few people in the world who thoroughly understand how blockchain technology and web3 work, there are a plethora of opportunities for those who do.

Just about every traditional industry is exploring blockchain from fast food restaurants like Taco Bell to fashion companies like Tommy Hilfiger and financial institutions like Visa and Mastercard.

This makes Web3 a great way to get your foot in the door in just about any industry imaginable, with advanced knowledge being highly sought after and extremely hard to find. 

Projects focused on education and the greater good of sustainability for the entire industry will pave the way toward a brighter, simpler and frictionless future.

About the author

Patrick Hagerty is a content and marketing writer passionate about decentralized and blockchain-based technology.

Got something to say about Web3 education or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.





Source link

We only source and collect valueable knowledge and information and do display it for public good (under the freedom of information act)

All image + text copyrights belong to their respectful owner, we do NOT claim any rights over those.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

US Treasury Sanctions Hit Russian Arms Dealer’s Crypto Wallets

Published

on

By



The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed full blocking sanctions on 22 individuals and entities across several countries, including Russia and Cyprus, as part of its sanctions evasion network that supports Russia’s military-industrial complex.

The sanctions were imposed under Executive Order 14024 and are part of the U.S.’s strategy to target sanctions evasion globally, close key channels, and limit Russia’s access to revenue for its war in Ukraine.

US Treasury Goes After Russian Arms Dealer’s Cryptos

The U.S. Treasury’s sanctions were imposed by the Russian Elites, Proxies, and Oligarchs (REPO) Task Force, a multilateral effort to identify, freeze, and seize assets of sanctioned Russians worldwide. This task force leverages information from international REPO partners and key data from Treasury’s Financial Crimes Enforcement Network (FinCEN) to share information, track Russian assets, and sever Russian proxies from the international financial system.

The REPO Task Force aims to maximize the impact of multilateral sanctions while preventing opportunities for Russia to evade or circumvent U.S. and partner sanctions.

The primary target of the sanctions is a Russian sanctions evasion network led by Russia and Cyprus-based arms dealer Igor Zimenkov and his son Jonatan Zimenkov. The Zimenkov network has been involved in projects related to Russia’s defense capabilities, including supplying a Russian company with high-tech devices after Russia’s full-scale invasion of Ukraine. They have also supported sanctioned state-owned Russian defense entities, Rosoboroneksport OAO and State Corporation Rostec, which are critical components of Russia’s military-industrial complex.

Igor and Jonatan Zimenkov have worked closely together to enable Russian defense sales to third-party governments and have engaged directly with Rosoboroneksport’s potential clients to facilitate sales of Russian defense material. Igor Zimenkov has also supported the Belarusian military-industrial complex by enabling the sales efforts of State Owned Foreign Trade Unitary Enterprise Belspetsvneshtechnika in Latin America.

Today, Igor Zimenkov was designated for operating in the defense and related materiel sector of the Russian Federation economy, while Jonatan Zimenkov was designated for having materially assisted, sponsored, or provided financial, material, or technological support for Igor Zimenkov, Rosoboroneksport, and other sanctioned entities.

The Zimenkov network used front companies to funnel money and maintain a lawful appearance. Singapore-based Zimenkov network shell company Asia Trading & Construction PTE Limited and its director, Serena Bee Lin Ng, have sold helicopters to clients in Africa on behalf of the Zimenkov network. Additionally, Cyprus-based Zimenkov network shell company Lobster Management Limited and its director, Mikhail Petrov, have facilitated sanctions evasion by providing support to sanctioned entities.

The Treasury’s OFAC continues to work with its international partners to coordinate information sharing and enforcement and to travel the world in pursuit of sanctions evasion. The sanctions imposed today are a clear signal to Russia and its military-industrial complex that the U.S. and its partners are committed to tightening sanctions enforcement and preventing the evasion of international sanctions.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.



Source link

We only source and collect valueable knowledge and information and do display it for public good (under the freedom of information act)

All image + text copyrights belong to their respectful owner, we do NOT claim any rights over those.

Continue Reading

News

Digital Wallet Growth Will Enable More Closed-Loop Transactions

Published

on

By


Crypto and fintech investment firm Ark Invest has made bold predictions about digital wallets, estimating that more than half the world will soon be using at least one.

In its Jan. 31 ‘Big Ideas 2023’ research report, Ark Invest revealed that digital wallet global population penetration is currently 40%. This equates to around 3.2 billion users, the firm added.

However, the research suggests that the number of online wallet users will increase at an annual rate of 8%. The firm predicted that this will result in a global population penetration of 65% by 2030:

“Having onboarded billions of consumers and millions of merchants, digital wallets could transform the economics associated with traditional payment transactions, saving them nearly $50 billion in costs.”

It also noted that digital wallets were gaining market share in online and offline transactions. Cash is definitely in decline, accelerated by government initiatives to go digital, as recently seen in Nigeria.


Payment method trends - Ark Invest
Payment method trends – Ark Invest

Digital Wallet Growth to Continue

Ark reported that digital wallets were scaling faster than accounts at traditional financial institutions. Furthermore, U.S. digital wallet adoption rebounded in 2022, surpassing previous highs following a COVID-induced dip.

The firm estimates that U.S. digital wallet users will increase by 7% annually during the next eight years. This will be a growth of around 160 million in 2022 to more than 260 million by the end of the decade.

Digital wallet user growth - Ark Invest
Digital wallet user growth – Ark Invest

Furthermore, online wallets are enabling “closed-loop” ecosystems. This is where consumers and merchants can transact directly, cutting out the middleman. 

“Digital wallets are onboarding millions of merchants to platforms that enable direct consumer-merchant transactions that disintermediate traditional financial institutions,” it noted.

In this closed-loop environment, wallet providers capture more value per transaction, enabling savings to be shared with merchants and consumers.

Open and Closed Lopp transactions - Ark Invest
Open and Closed Lopp transactions – Ark Invest

Additionally, Ark noted that closed-loop transactions could boost the margin structure of wallet providers.

It used Block Inc. (formerly Square) as an example, stating that it paid around 60% of customer transaction fees to third parties in 2022. The fees were paid for interchange, assessment, processing, and bank settlement fees. Block’s net take rate could more than double if customers transacted directly with merchants.

Block Inc. fee structure - Ark Invest
Block Inc. fee structure – Ark Invest

Closed Loop Transactions Could Top 50%

Finally, Ark predicted that these closed-loop transactions could account for over 50% of digital payments by 2030.

It used China as an example where wallets and merchants are largely internal or domestic only.

Closed loop cost savings - Ark Invest
Closed loop cost savings – Ark Invest

In conclusion, digital wallet growth is set to continue. Cutting out the intermediary which they facilitate is beneficial to both the consumer and merchant.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.



Source link

We only source and collect valueable knowledge and information and do display it for public good (under the freedom of information act)

All image + text copyrights belong to their respectful owner, we do NOT claim any rights over those.

Continue Reading

News

Strike Launches Lightning Remittances in the Philippines

Published

on

By


Bitcoin fintech giant Strike rolled out its Lightning Network money transfer service Send Globally in the Philippines, a $35 billion remittance market.

Send Globally launched in the Southeast Asian country on Jan. 31, 2023, enabling businesses and tourists to receive international money transfers in the Philippine peso. The country receives $35 billion in remittances globally.

How Strike’s Send Globally Service Works

“Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant,” Strike CEO Jack Mallers said.

According to a press release, Strike’s remittance service converts a sender’s fiat into Bitcoin and sends the Bitcoin to a Strike partner in the destination country using the Lightning Network, which in the case of the Philippines, is Pouch.ph. Pouch.ph then converts the Bitcoin to the recipient’s fiat currency and credits their bank or mobile money account, with Strike shielding both parties from the tax implications of handling Bitcoin directly.

Bitcoin’s Lightning Network is a layer-two solution on the Bitcoin blockchain that allows micropayments between nodes over a payment channel. Unlike traditional payment networks, Lightning’s low fees enable almost zero-cost remittances.

Recently, Mallers announced a trial to bring Bitcoin Lightning Network payments to retailers through a partnership with Fiserv’s point-of-sale solution Clover Commerce. The trial allows any application with Lightning capability to pay Bitcoin for goods and services at Clover merchants.

Philippine Smartphone and Internet Adoption Auger Well for Strike

Send Globally rolled out to Strike users in Ghana, Nigeria, and Kenya on Dec. 6, 2022, where it has reportedly gained rapid traction.

However, mainstream adoption in the Philippines will depend heavily on network effects, driven by smartphone and internet penetration.

According to Statista, the number of smartphone users will increase from 85 million in 2022 to 87 million by 2023. Additionally, forecasts suggest smartphone users will increase to 91.5 million in 2025, representing roughly 83% of the island nation’s population.

Smartphone Adoption in the Philippines
Smartphone Adoption in the Philippines | Source: Statista

Additionally, Statista predicts that about three-quarters of the population will have internet access by the end of 2023. Growing internet access increases the chance of Strike’s success, since it helped drive adoption of crypto game Axie Infinity.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.



Source link

We only source and collect valueable knowledge and information and do display it for public good (under the freedom of information act)

All image + text copyrights belong to their respectful owner, we do NOT claim any rights over those.

Continue Reading

Trending

Copyright © 2022 Cryptonewsafrica.com