Aurelia Butler

The announcement happened on stage at AIBC Malta, a global event unifying Ai, UI, IoT and Quantum (NASDAQ:QMCO) Tech and hosting thousands of policymakers and thought leaders.As a growing, scalable computing network, Cudos has over 500,000 business and individual accounts, contributing underutilized resources and earning simultaneously. Like Airbnb for computing, this sustainable model reduces waste and distributes the revenues fairly across the network.With a focus on sustainability, Cudos is already over two million times more energy-efficient than Ethereum and 100% carbon-neutral. With a robust technology delivered ethically, the decentralised cloud provider attracted 22,000+ developers for its ongoing testnet ‘Project Artemis’.The significance of this extends to the whole industry as Cudos will be the first blockchain connecting consumers to scalable computing through smart contracts. These are the foundations for powering the metaverse, and in this case, providing a whole country with decentralized computing.The impact of the collaboration will initially extend to almost 10 million devices across the Tingo network. As a unique agri-fintech business that has delivered significant impact to rural communities, the partnership will enable the creation of a distributed cloud for Nigerians, run by Nigerians, that pays Nigerians. Considering that the country is the second-largest Bitcoin market after the US, the significance is unprecedented. After Nigeria, Tingo will expand across Africa and South America, broadening the positive impact further. The importance of the collaboration, however, goes beyond financial inclusion and freedom. It unites social and environmental needs focusing on economic empowerment while reducing the ecological impact of computing.The partnership would enable people to run monetisation applications on their smartphones. This would create a fully inclusive digital ecosystem, distributing the Cudos technology to millions of smartphones.In partnership with Tingo, Cudos has the opportunity to scale a highly distributed smartphone cloud computing network across Nigeria first before expanding into other regions. Ultimately, each community will leverage sustainable, scalable and cost-effective computing resources.This is a colossal collaboration, as Tingo’s model supports farmers in rural Nigeria who would receive single-digit loans rather than the typical microfinance 25%+ interest through the collaboration with DeFi partners MELD. Farmers would use their phones to earn CUDOS.CUDOS will not only become a currency for payments within this ecosystem. The network will become a compute platform for Nigerian institutes and universities, benefiting those in rural areas with earnings and slowing the rapid migration into cities. “Our vision of a “decentralized, sustainable and connected world where no computing is wasted” is coming to fruition with this new partnership with Tingo. As Tingo is in the process of listing its subsidiary company, Tingo Inc (OTCQB: IWBB), on the New York Stock Exchange, it is refreshing to share the same ethos of creating technology and business models for the betterment of communities. Positive social impact is the driver behind this deal, providing financial security to millions of users initially. As a partnership, we will build on this, expanding to other regions creating a circular economy of financial inclusion, security and democratised cloud resources. Close to 10 million users able to earn and spend CUDOS is also essential for the growth of our network,”
commented Pete Hill, VP of Sales at Cudos. As part of the announcement, Cudos will list on CoinField, a European exchange recently acquired by Tingo International Holdings, increasing the community reach and liquidity for the CUDOS token.
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Cudos, the decentralized cloud computing blockchain network, announces at the AIBC summit in Malta that it is partnering with Tingo to tackle the poverty premium. They will do this through monetisation applications under the partnership. This will help empower over 9 million Nigerians to earn from their smartphones at any time.Cudos is said to be the first blockchain connecting consumers to scalable computing through smart contracts. Besides, these are the fundamentals for powering the metaverse, thereby, providing a whole country with decentralized computing.Precisely, the Cudos Network is a layer one blockchain and layer two computation and oracle network designed to ensure decentralized, permissionless access to high-performance computing at scale and enable scaling of computing resources to 100,000’s nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable compute and Layer 2 Oracles on all of the bridged blockchains.Currently, Cudos has over 500,000 business and individual accounts, contributing underutilized resources and earning at once. Just Like Airbnb for computing, the growing, scalable computing network reduces waste and allocates the revenues fairly across the network.According to the team, Cudos is presently over two million times more energy-efficient than Ethereum. Interestingly, it is 100% carbon-neutral. For its ongoing testnet ‘Project Artemis’, attracted 22,000+ developers due to its robust technology which is delivered ethically.Essentially, the collaboration will initially extend to almost 10 million devices across the Tingo network. Furthermore, as a unique agri-fintech business that has delivered significant impact to rural communities, the partnership will enable the creation of a distributed cloud for Nigerians, run by Nigerians, that pays Nigerians. Since the country is the second-largest Bitcoin market after the US.In partnership with Cudo, Tingo will support farmers in rural Nigeria by giving them single-digit loans rather than the typical microfinance 25%+ interest via the alliance with DeFi partners MELD. With the native CUDOS, farmers can earn with their smartphones. More so, the network will become a platform for Nigerian institutes and universities, benefiting those in rural areas with earnings and slowing the rapid migration into cities.Commenting on the project, VP of Sales at Cudos says that their vision of a ‘decentralized, sustainable and connected world where no computing is wasted” is coming to fruition with this new partnership with Tingo.’After Nigeria, Tingo intends to expand across Africa and South America, broadening the positive impact further. Cudos will list on CoinField, a European exchange recently acquired by Tingo International Holdings. By doing so, the community reach and liquidity for the CUDOS token will rise.In summary, the importance of the collaboration, however, goes beyond financial inclusion and freedom. It unites social and environmental needs focusing on economic empowerment while reducing the ecological impact of computing.Continue reading on CoinQuora More

Speaking to Bloomberg News, Zhao noted that Binance made Know Your Customer (KYC) processes mandatory “for global users, for every feature” in a bid to attract new users as a regulatory-compliant business. He revealed that Binance lost about 3% of the users after making KYC obligatory. Continue Reading on Coin Telegraph More

HONG KONG/SINGAPORE (Reuters) -Bitcoin and ether, the world’s two largest cryptocurrencies, stayed weak on Wednesday and near critical levels that analysts believe could spell further weakness if breached.Bitcoin last traded around $60,665, up 0.9% on the day. It was off the day’s low of $58,400 but is down about 12% from the record high of $69,000 set on Nov. 10, while ether was at $4,244, more than 14% lower than its peak $4,868. While profit-taking after the massive run-up in prices was emerging as the biggest factor, analysts pointed to other reasons behind the more cautious sentiment, such as bitcoin’s blockchain upgrade last weekend, higher U.S. inflation and China’s latest directive to its state-owned firms not to engage in cryptocurrency mining.Bitcoin has doubled in value since January. Its correction could get severe if it fell through $58,000, Craig Erlam, senior market analyst at online broker Oanda, said in a note.”This is roughly where it found strong support at the end of October and given how much it’s struggled to make major strides higher since, it could be the catalyst for a deeper correction,” Erlam wrote.News that Twitter (NYSE:TWTR) would not be investing in cryptocurrencies and the U.S. Securities and Exchange Commission’s (SEC) rejection of what would have been the first U.S. spot bitcoin exchange-traded fund by VanEck were also dampeners.”This has the feel that we could see some messy two-way action, and it wouldn’t surprise to see 68,000 capping the upside, 57,000 the downside.” Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a client note.In another sign of the world’s growing fascination with blockchain and cryptocurrencies, the Staples Center sports and entertainment arena in downtown Los Angeles said it will be renamed https://www.reuters.com/lifestyle/staples-center-los-angeles-be-renamed-cryptocom-arena-2021-11-17 the Crypto.com Arena under a naming rights agreement with Singapore-based Crypto.com platform. In the past week, traders have become less willing to pay to hold long positions in bitcoin futures. Average funding rates fell to 0.00354% on Tuesday, according to cryptocurrency analytics platform CryptoQuant, their lowest since late September and down from 0.04122% on Nov. 10.Funding rates represent sentiment in the perpetual swaps market, a major part of the bitcoin derivatives world. Positive funding rates imply that traders are bullish, as they must pay to hold a long position, while negative rates mean traders must pay to hold a short position, and hence are bearish. “With the funding rates now declining to neutral levels, it seems to be a healthy balance between long and short demand in the market,” crypto analysts at Arcane research said in a research note. Money pouring into bitcoin products and funds has hit a record $9 billion this year, and totalled $151 million last week in the 13th consecutive week of inflows, data from digital asset manager CoinShares showed on Monday.Although flows have been positive recently, volumes have been subdued in the second half, averaging $750 million daily versus $960 million in the first, CoinShares said. Singapore-based digital economy trading firm QCP Capital pointed to the relatively heavier selloff in ether (ETH) and said that might continue, alongside a pick-up in options activity on that token. “We’ve turned quite neutral after this awaited leverage wash-out. We expect BTC (bitcoin) to be stuck around 60,000 given the strike gravity. And perhaps more volatility in ETH and altcoins,” they wrote in a post on social media platform Telegram. More

FACTS AT A GLANCEEdition: 7; Released: November 2021Executive Pool (NASDAQ:POOL): 692Companies: 80 – Players covered include Abra; Alphapoint; Applied Blockchain; Auxesis Group; AWS; Bitfury; Bitpay; Blockchain Advisory Mauritius Foundation; Blockcypher; BTL Group; Cambridge Blockchain; Chain; Circle; Coinbase (NASDAQ:COIN); Digital Asset Holdings; Earthport; Factom; Guardtime; IBM (NYSE:IBM); Microsoft (NASDAQ:MSFT); Oracle (NYSE:ORCL); Recordskeeper; Ripple; Symboint; Tradle and Others.Coverage: All major geographies and key segmentsSegments: Organization Size (Large Enterprises, SMEs); Application (Payments, Clearing & Settlement; Exchanges & Remittance; Smart Contracts; Identity Management; Compliance Management / Know Your Customer; Other Applications); Provider (Middleware Providers, Application & Solution Providers, Infrastructure & Protocols Providers)Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.Information provided by FinancialNewsMedia.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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