Crypto.com Halts Institutional Exchange Service in the US

Potential of Blockchain Technology in Korean JournalismDuring a journalism conference held in Korea, the founder of a blockchain-based news app provider delivered a talk to underline the potential of blockchain technology in journalism, according to a press release by blockchain-based news app provider Publish.©Pexels/Suzy Hazelwood2023 World Journalists ConferenceThe 2023 World Journalists Conference, hosted by the Korean Press Association, commenced its six-day run on Tuesday, marking the event’s eleventh iteration. Being convened for the first time in four years due to the COVID-19 pandemic, the conference saw the attendance of over 70 journalists from 50 countries who were gathered to discuss the future of journalism in the context of digital transformation.Token reward systemKwon proposed a revenue model for media companies that incorporate a token reward system to encourage reader engagement.Under this system, news enthusiasts can participate in various activities, such as reading and sharing articles, or leaving comments, and be rewarded with tokens. This approach can foster a sustainable community and cultivate a loyal customer base, enabling writers to prioritize journalism over creating clickbait articles. A more efficient advertisement distribution process can also be achieved through this system.Blockchain technologyThe news app developer aims to implement blockchain technology to enhance, rather than dismantle, the existing journalism model. Blockchain technology can be used to record and validate every activity in the news industry, which can then be rewarded with cryptocurrencies.Publish’s decentralized identifier (DID) app enables users to take part in surveys without revealing their personal information, and will also support fundraising for news writing.NFTsMedia companies can also explore additional revenue streams by creating non-fungible tokens (NFTs). By tokenizing their articles and photos, firms can establish ownership and authenticity, facilitating more efficient transactions.Kwon noted that this blockchain-driven incentive system not only allows media organizations to improve their user experience, but also empowers readers to engage with journalism as active stakeholders, sharing its value in various ways.

Covenant Labs and Haechi Labs join forces to integrate Web3 services into P2E gameCovenant Labs, a subsidiary of South Korean smart city platform CityLabs, has signed a memorandum of understanding (MOU) with Haechi Labs, a blockchain service provider, to integrate Haechi Labs’s services into its Play-to-Earn (P2E) game Covenant Child and related non-fungible token (NFT) projects, thus expanding its presence in the blockchain ecosystem.Photo by ELLA DON on UnsplashElevating Web3 accessibility and securityThese services include Face Wallet — a non-custodial digital wallet geared towards onboarding Web2 users to Web3 — and Kalos, a blockchain and smart contract security audit service for Web3 enterprises.Face Wallet has gained recognition within the industry as a widely-used wallet across global blockchain mainnets, including Polygon, Solana, BNB, NEAR Protocol, Aptos and Avalanche.Notably, it addresses issues that users usually run into with traditional digital wallets like MetaMask, such as complicated login processes. It allows users to log in using their social media accounts, such as Google, Apple, X (formerly Twitter), Discord, Facebook and Kakao, without installing a separate wallet. Users can also enhance their wallet security through two-factor authentication (2FA) by setting a simple six-digit PIN code.Meanwhile, Kalos provides detailed and personalized security audit reports put together by security experts from around the world. The service specializes in areas like Solana Smart Contract, zero-knowledge proofs and Cosmos SDK.Enhancing the gaming experienceThese two services will be integrated into Covenant Child, which offers engaging content through both gameplay and game finance (GameFi). In particular, its GameFi system allocates two types of tokens — Covenant (COVN) and Child (CHLD) through P2E activities, such as mining compatible NFTs earned during gameplay.Covenant Labs CEO Jin Hyung-il and Haechi Labs CEO Moon Geon-ki expressed their anticipation for the agreement, stating that their respective companies would aim to provide gamers with a stepping stone to easily onboard Convenant Labs’ gaming ecosystem and gain access to various user-friendly services.

NEOPIN and MEVerse Join Hands to Expand Blockchain EcosystemCentralized decentralized finance (CeDeFi) protocol provider NEOPIN said Tuesday that it has teamed up with MEVerse, the blockchain mainnet operated by gaming company ME2ON Group, to expand the global blockchain ecosystem and optimize the accessibility and functionality of their respective platforms.Photo by Gerd Altmann on PixabayPromoting blockchain worldwideBoth parties have agreed to collaborate on integrating their platforms to build a global user base consisting of those who have completed necessary verification procedures like Know Your Customer (KYC) and Anti-Money Laundering (AML). They will also support each other’s global partner networks, contributing to service enhancement and ecosystem expansion. NEOPIN has also vowed to introduce MEVerse to its global user community.“Initiating the integration of NEOPIN and MEVerse platforms, we are poised to play an active role in fostering the growth and widespread adoption of the blockchain ecosystem. This includes the enduring fusion of blockchain technology with Korean content.” said Ethan Kim, CEO of NEOPIN.Collaborative synergyMEVerse possesses various blockchain infrastructures, including the Web3 P2E casual game portal MEVerse GameZ, non-fungible token (NFT) marketplace MEVerse DEX, blockchain explorer MEVerse Scan, and more. The platform said that it is currently in the process of establishing a borderless Web3 ecosystem by boosting compatibility with its mainnet ecosystem and leveraging cross-chain technology.“MEVerse’s strengths lie in its possession of a wide range of blockchain platforms and content, from its blockchain mainnet to the Web3 gaming ecosystem and Korean content,” Kim commented.Meanwhile, NEOPIN has accumulated knowledge and expertise on blockchain operations during its time as a node validator for various blockchain networks such as Ethereum and Cardano since 2017. Last year, the platform launched its CeDeFi protocol, providing a secure and user-friendly DeFi platform.“We are thrilled to partner with NEOPIN, a pioneer in the DeFi sector. Through tangible integration examples, we look forward to facilitating user engagement and cultivating an expanded Web3 ecosystem,” said Jong-ho Hong, CEO of MEVerse.