Bitcoin's BFF? 🥰 Vitalik in Love
Inside an Invite Only Crypto Event
GM fam 🔆
Ready to explore this week's groundbreaking developments and hot discussions in the world of web3? Let's dive right in...
For you and Posty this week👇
Weekly Web3 Updates
Meet Bitcoin's New BFF 👀
Web3 Shorts: NVIDIA, Vitalik and ChatGPT 👩⚖️
Web3 Jobs & Reads
Estimated Reading Time: 3:00 minutes
Weekly weather report 🌦
Quick Web3 updates curated for you:
Trinity Gaming signs deal with Everdome to build web3 adoption in India
Reddit collectible avatars onboard nearly 10M into the crypto, NFT space
Solana becomes the First Layer 1 Blockchain to integrate artificial intelligence with ChatGPT
South Korea lawmakers pass law requiring officials to disclose crypto holdings
OpenAI offers $100,000 grants for ideas on AI governance
Meet Bitcoin's New BFF 🤩
Stably, the rockstars of SCaaS and fiat infrastructure are making big waves in the Bitcoin ordinals market. 🌊 And it’s with their USD-backed stablecoin, Stably USD, or simply #USD, which is a BRC20 token issued natively.
#USD: Bitcoin's New BFF 🤑
#USD is a BRC20 stablecoin crafted using the Bitcoin Ordinals protocol, a shiny new toy we got after the Taproot upgrade in January 2023. 🚀
BRC20 tokens are like fortune cookies but digital. 🍪 They attach data using the ordinal inscriptions technique to "satoshis", Bitcoin's tiniest unit, and these satoshis can represent anything 👇
🎨 digital art ownership
🐶 meme coins
🪙 stablecoins…you name it!
💡 Each #USD token is backed 1-to-1 with USD in an account managed by a US-regulated custodian for the benefit of KYC/AML-verified token holders.
✅ A third-party stablecoin auditor makes sure these tokens are always fully stocked with USD every month.
A Funny Story... 👀
Kory Hoang, the CEO of Stably, met Domo, the creator of the BRC20 standard, at the Bitcoin 2023 conference in Miami.
Kory shared their plans for #USD, and Domo found it hilarious that they're creating a stablecoin on Bitcoin to enable Bitcoin trading on-chain… With a stablecoin built on Bitcoin. Confusing, right? 🥵
Next Steps 🌍
Stably's grand plan: Flooding web3 with users through a smooth fiat-to-crypto and stablecoin onramp. 🪙
They've made friends with UniSat (the biggest decentralized wallet/marketplace for ordinals) and Ordzaar (Asia's first decentralized ordinals marketplace project).
They're also poking around the new ORC20 standard for Bitcoin ordinals, which could further buff #USD's token properties.
Getting Your Hands on #USD 💸
#USD can be issued/redeemed with Fedwire, SWIFT, USDC, and USDT
🌍 across 200+ countries/regions
🇺🇸 up to 44 US states.
Stably will be launching automatic issuance/redemption through Stably Ramp, their handy fiat gateway widget, in Q3 2023.
After this update, #USD users will have more traditional payment options like ACH, instant ACH, and credit/debit cards, besides bank wires.
Keep an eye on #USD. It's coming in hot! 🔥
If you liked reading this, feel free to click the ❤️ button on this post or restack it so more people can discover it on Substack 👇
Web3 Shorts 🗞
🤖 NVIDIA doubling down on AI
Nvidia, once just a graphics chip company, is now a major player in the AI game. They've got a new AI supercomputer platform, DGX GH200, that's going to help tech companies build even smarter AIs, a new robotics platform, and a crazy-fast networking system called Spectrum X, and they're teaming up with WPP to make ads in the metaverse.
And for the gamers out there, they're launching Nvidia ACE to make those non-player characters in games feel more real. 🤩
🥲 The crypto summer camp you weren’t invited to
Zuzalu is an invite-only event in Montenegro, merging elements of a crypto-conference, Burning Man, and summer camp. Around 500 cryptography, tech, and longevity enthusiasts, including Vitalik Buterin, attended. Participants engaged in daily "cold plunges" and thematic sessions covering various fields. Future iterations might be hosted in different regions to enhance accessibility.
Also, Vitalik introduced himself as Anatoly Yakovenko and professed his love for Solana! 👀
🧑⚖️ Taking ChatGPT to court
A lawyer named Steven A. Schwartz used OpenAI's ChatGPT for legal research in a case against Avianca, leading to the citation of six nonexistent cases in a brief. When confronted, ChatGPT insisted the cases were real, causing the issue to be raised by the opposing counsel. Schwartz admitted his mistake and expressed regret, highlighting the importance of verifying information generated by AI.
This is a reminder to double-check your GPT results before submitting your thesis or making your case. 🤡
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Read away 📚
Why is Grand Theft Auto 6 unlikely to incorporate cryptocurrencies?
The growth of Web3 depends on crypto wallets—and how we choose to use them
Bluesky so far: A promising Twitter alternative with a lot of work to do
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