Legalising and regulating crypto

by | Mar 24, 2022

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Web3 is perhaps one of the biggest buzzwords frequently used in the crypto world. 

Crypto evangelists have thrown it around to signify an era where the Internet becomes decentralised, and every user owns a portion of everything that exists on the Internet. 

However, Web3 might not be all it’s cracked up to be. This article by The Verge details how the Web3 concept could be a ploy by VCs and investors to recoup their investments earlier rather than wait several years.

They do this by getting the startup to create tokens. While the success of the Web3 company depends on many real-life factors, the token, however, could reach incredible highs with the right amount of hype. 

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When these tokens are created, a sizable portion is given to the VCs who simply wait for it to blow and cash out afterwards. This dark side of Web3 became famous last year when Elon Musk, Tesla CEO, referred to it as “a marketing buzzword.” Do you agree? You can shoot me a reply and tell me how you feel.

Interestingly, we’re discussing something crypto-related today. Here’s today’s spread:

  • Legalising and regulating crypto
  • YouTube’s plan to stream TV shows for free

Legalising and regulating crypto

Mobile phone with crypto trading app opened on it
Cryptocurrency exchange photo created by freepik – www.freepik.com

While the crypto market has not seen bull runs that send the entire crypto community in a frenzy since Bitcoin’s all-time high of $65,000, it has not been devoid of significant updates.

An example is Ukraine’s decision to make digital currencies into legal tender and the US’ regulatory plans. 

Both events are a watershed moment for cryptocurrencies as this means institutional investors and governments are recognising it as a tool for major financial transformation.

However, the events can also be tied to the ongoing Russia-Ukraine war that has seen Ukraine raise $54 million in crypto donations in one week.

To know more about Ukraine’s crypto donations and their effect on the market, please read here: Russia-Ukraine War: What $54m in crypto donations could mean for the global crypto market

Some people believe that the executive order on crypto by the US was borne out of fears that Russia might use it to circumvent sanctions. According to Bitcoin.com, the President of the European Central Bank (ECB), Christine Lagarde, said that cryptocurrencies are a threat, and Russia is certainly using them to avoid sanctions

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Interestingly, Binance CEO, Changpeng Zhao, believes it’s not possible and gives reasons. To know all about it and how the US plans to create the perfect crypto regulation, please read here: Watershed moment for crypto as Ukraine legalises crypto, and the US reveals regulation plans

YouTube joins the streamers 

hello i m nik pYoj2nyokOg unsplash 2
Photo by Hello I’m Nik on Unsplash

Online video sharing platform, YouTube, has announced its plan to offer TV shows for free, taking on pay TV providers and streaming platforms. 

For free? Yes, but if you’re willing to see ads. 

According to a blog post, YouTube now has up to 4,000 TV series episodes available on the platform. However, they are still only available to users in the US.

The video-sharing platform did not mention if this feature would be available in other regions, but it will be interesting to see how it competes with pay TV services like MultiChoice-owned DStv and GOtv. 

YouTube already has a massive audience: According to Statista, YouTube had 1.8 billion users globally in 2021 and 23.01% — 415 million  — come from Africa.

DStv, on the other hand, grew its number of active subscribers in Africa to 20.9 million in 2021. 

Per YouTube’s blog post, more people are opting to watch videos on the big screen, and the move to add TV shows to their options is perfect timing. 

Unlike pay TV, where you have to flip through channels to see what’s on, YouTube said it’ll add streamlined navigation and menus that will make it easy to find airing TV shows.

What I’m reading

  • Maine island library wants your banned books. Read
  • Putin and Kim Jong-un impersonators help Zelensky lookalike flee Ukraine. Read
  • Indian tax officials say crypto profits are like lottery wins. Read

Opportunities

  • Fluidcoins is looking for a business development and sales manager. If you’d like to be paid in crypto apply here
  • Kippa needs someone to head its engineering team. Apply here
  • Techpoint Africa is looking to hire a woman for the role of an associate VISUAL DESIGNER. This you? Send a pitch with your portfolio to careers@techpoint.africa
  • Want to be a tech sis? Then Microsoft’s LEAP Apprenticeship Programme in partnership with Tek Experts could be for you. Apply here
  • Get rewarded for gaining tech skills at the Microsoft Spring Skills Challenge. Details here
  • Identitypass is hiring. Check out available roles
  • CarePay is looking for a customer success officer and a pricelist coding intern. Find out more and apply here and here

Bolu Abiodun
Bolu Abiodun

He’s a geek, a sucker for Blockchain and an all-round tech lover.


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