The financial services industry, braced for what could be its biggest disruption in decades, is about to get an early glimpse at the Federal Reserve’s work on a new digital currency.

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First there were CryptoKitties. Then came digital art, CryptoPunks and NBA Top Shot. But when Beeple’s digital art piece “Everydays: The First 5000 Days” sold at Christie’s for US$69 million, the NFT mania truly began. And as with any wave of media mania, there also came the groundswell of negative media and hand-wringing about NFTs

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NFTs explained: What are they, how to buy them and more

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The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks in the U.S. provide custody services for cryptocurrencies.

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The bill proposes to direct the U.S. Secretary of Commerce, in consultation with the Federal Trade Commission (FTC), “to conduct a study and submit to Congress a report on the state of the blockchain technology and use in consumer protection, and for other purposes.”

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By acting so quickly and raising the purchase limit yet again, PayPal is clearly finding a warm reception for its crypto offerings.

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The payments giant plans to support digital currency transactions directly on network.

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A significant challenge of blockchains to date is their lack of interoperability. Once a developer builds their decentralized application on any particular platform, they’re generally locked into that platform with no opportunity to leverage any of the benefits of other blockchains.

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To confidently support the expansion of AI as we move toward the next phase of the internet, the internet itself must adapt — with blockchain serving as the root of the change. 

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