GM 🔆
This is This Week In Web3 here to serve you the hottest updates in Web3 with a side of food for thought. We keep it quick and short with only the updates that matter. 🔥
Here’s what we have for you and Posty this week👇
Weekly Web3 Updates
When Vitalik Met Sadhguru 👀
Combatting Web3 Scams with Crypto Credentials 🥷🏻
Web3 Jobs & Reads
Estimated Reading Time: 3:50 minutes
Weekly Weather Report 🌤
Quick Web3 updates curated for you:
Bitcoin has had another positive month, a fourth consecutive green month, according to Coinglass
Jack Dorsey’s nano Bitcoin mining chip heads to prototype
Bitcoin transactions soar as Ordinals barrel past 2.5 million
Google Cloud introduces new web3 startup program
JP Morgan acquires substantial majority of First Republic Bank's assets
CFTC imposes record $3.4 billion fine on Bitcoin scammer
When Vitalik Met Sadhguru 👀
Last week, the tech world collided with the spiritual realm 😳
Vitalik Buterin and Sadhguru came together for a conversation on the intersection of technology and human consciousness. Go on, name a more iconic duo! We’ll wait 👀
Now, Sadhguru is no stranger to discussing the big questions of life, from the meaning of existence to the secrets of human potential and whatnot. In this virtual talk hosted by reState Foundation, he dived into more than just technology with Vitalik.
Here are some takeaways from the conversation 👇
Blockchain is an interesting field of technology that involves people more than other technical fields and reflects the values of human coordination and collaboration.
It can help people in nations where currencies and banks have failed and create structures that strive for neutrality and inclusivity while still being opinionated but with its own challenges.
Technology can help amplify positive tendencies and build tools for people to organize and identify common values.
There’s a growing gap between the rate of technological evolution and the progression of human ethical and consciousness development, with the latter being left behind.
Blockchain and tools like coin grants and quadratic funding can help identify public goods and support them.
Changing education structures to be more universal can have a bigger impact on changing the world than changing political and economic structures.
Science and technology are the greatest solutions, but treating humans as products impede progress.
Using blockchain technology properly can help increase understanding and raise human consciousness, according to both Vitalik and Sadhguru. 🛠
Well, how’s that for a heavy read? Nothing! If you watch the whole conversation unfold, it’ll be heavier but also equally rewarding! Here you go 👇
It was a meeting of two worlds that don't usually cross paths, but when they collide, they have the power to inspire and shape the future in exciting ways.✨
If you're curious about the future and love exploring different perspectives, you won't regret tuning in. 👏
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 👇
Combatting Web3 Scams with Crypto Credentials 🥷🏻
The web3 ecosystem lost $3.9 billion to crypto fraud in 2022! The web3 versions of the Nigerian prince scams are everywhere, and we keep falling for them. 😮💨
Well, all hail Mastercard because it is here with its new solution to combat bad actors in the web3 space with crypto credentials!
The Goal 🎯 Help users experience more trusted and simplified web3 interactions.
With MasterCard Crypto Credential, Mastercard is building a way for Web3 and blockchain service providers to help secure transactions between users verified according to standards set by MasterCard.
How does it work?
Users are issued a unique identifier called the "Mastercard crypto credential," allowing instant verification that an address they want to send funds to has been vetted by Mastercard and is in compliance with their standards.
It will support compliance through the exchange of essential metadata, required to meet regulations.
Even if bad actors slip through the cracks and obtain a unique identifier, Mastercard can quickly revoke their verification if they are found to have engaged in nefarious activity.
Mastercard is collaborating with multiple service providers to enhance verification in NFTs, ticketing, enterprise and other payments solutions.
🥁 Bit2Me, Lirium, Mercado Bitcoin, and Uphold, and blockchain firms like Aptos Labs, Ava Labs, Polygon Labs, and The Solana Foundation.
They will also be using CipherTrace's suite of services to verify addresses and support Travel Rule compliance for cross-border transactions.
But it's not just about security. This will help bring more transparency to the blockchain ecosystem, which means more use cases and more ways to bridge the gap between traditional finance and the world of crypto.
Don’t we love to hear that? 👀 Let us know your thoughts on this in the comments 👇
Work in Web3 👩💻
Put your learning to work, upskill and join discussions that will help you level up!
Senior Social Media Manager 📲 Matter Labs
Blockchain Operations - Technical Analyst 🛠 Chainlink Labs
DevOps Engineer 🛠 Shardeum
Read away 📚
That’s it for today, folks! 👋 We’ll see you with Posty next Monday! 🗞