The Daily Leo: Blockchain Tech is Changing the Standards
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We have been talking for a while about how Blockchain can be leveraged, we have talked banking and education, but the implementation wasn't fully there, it was a possibility, an infrastructure waiting to be put the test in real life, and with people that is not already into the crypto space.
But now we have successful lending protocols working, and being expanded, crypto users around the world that find easier to use crypto than being banked, and leveraging the Blockchain technology to certify education is now a reality.
Lending was something banks had mastered, and it became a huge source of profit for them, and even for some particulars. The P2P version of lending used to be based only on trust between parts and either part was susceptible to abuse.
Blockchain changed that and brought the shift of traditional money market mechanisms, such as lending and borrowing, into the cryptocurrency realm, it has been notably advanced by DeFi (Decentralized Finance) protocols.
Ethereum pioneered this through smart contracts. Similarly, the Binance Smart Chain introduced the Venus Protocol, enabling lending, borrowing, and stablecoin minting within its ecosystem. This protocol leverages fast transactions and does not require borrower background checks, using its XVS token for various functionalities including rewards and governance. As the second-largest lending protocol in terms of total value locked, Venus Protocol supports a wide array of stablecoins and cryptocurrencies, indicating a robust platform for crypto lending.
This exploration shows the significant growth potential of DeFi lending and borrowing protocols, highlighting Venus Protocol's integral role in blending traditional financial practices with the efficiencies of blockchain technology.
P2P transactions on Blockchain are safer, since they don't rely on the trust between the parts but grant a transaction only after all parts of the agreement have been fulfilled.
Education is one of the most important rights we have, yet not every kid in the world is being granted it, and even more kids are not learning important things that will be used during their life.
Giggle Academy is an idea that comes to change it for as many as possible. Changpeng Zhao, the former CEO and co-founder of Binance, recently announced Giggle Academy, a revolutionary free online educational program aimed at aiding students in developing economies.
This initiative seeks to bridge the educational gap for children who are financially unable to attend school. With over 700 million people worldwide lacking basic education due to economic constraints, primarily in Asia and Africa, Giggle Academy's mission is to provide accessible, high-quality education for students from grades 1-12. This program introduces a dynamic learning approach, incorporating gamified learning, personalized curriculum based on student strengths, and capacity development for real-world application. By leveraging blockchain technology for certification.
These are just two examples, and we are seeing more being built. For that reason, we see Bitcoin going strong and not disappearing soon, as the first implementation of Blockchain, the first of the cryptocurrencies and the reference point.
Bitcoin has experienced significant volatility since reaching an all-time high of $73,740, with its price fluctuating due to various news reports both supporting and criticizing the cryptocurrency. Currently facing resistance at $67k, Bitcoin's price has recently dropped to $62,800, struggling to surpass the $64k mark due to strong sell pressures, attributed to factors like potential whale manipulation and early investors taking profits.
Despite these challenges, the upcoming Bitcoin Halving, an event that reduces the reward for mining Bitcoin transactions, is anticipated to significantly increase its value, as it becomes scarcer. Critics, including regulatory bodies like the SEC, continue to challenge cryptocurrencies like Bitcoin and Ethereum, labeling them as scams or pushing to classify them as securities. Nonetheless, the steadfast growth in crypto adoption suggests a promising future for decentralized finance, indicating a potential shift away from traditional paper money towards a fully digital economy, and digital education.
The standards are changing, Blockchain offers more than cryptocurrency, the coins are just the most visible part and what brings the most investment, but the infrastructure is chancing the way we do everything, now it's al alternative, but with it's success and expansion, do we see it being the rule?
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Giggle Academy? That's great! I will check on it to see how education can be implemented on the blockchain platform.
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@rzc24-nftbbg(1/5) tipped @tsunsica
Nice, well written post. I am impressed that Tokeninzation is finally coming to the blockchain for Real World Assets in a BIg WAy with Blackrock/ And I am equally impressed with CZ's Giggle Academy. It will be nice to see his impressive intellect and entrepeneurial talent focused on something which could really make the world a better place.