KPMG invests £25m into web3 training as it preps for the metaverse

Metaverse

KPMG, one of the Big Four global accounting firms, is investing £25 million into web3 training for its employees to explore potential metaverse use cases.

The centrepiece of the project will be a collaboration hub built to explore metaverse applications in industries such as healthcare, retail, and financial services.

Laura Newinski, deputy chair and chief operating officer at KPMG in the US, said: "The metaverse is a market opportunity, a way to re-engage talent, and a...

JPMorgan enters the metaverse alongside new report on its potential

Metaverse

JPMorgan is officially the first major bank to enter the metaverse, having opened a lounge in blockchain-based virtual world Decentraland.

That’s right. The United States’ largest bank has a virtual space called the Onyx Lounge fitted with a portrait of Jamie Dimon, JPMorgan’s CEO, a walk-in presentation on cryptocurrency, and even a roaming tiger.

Named after the bank’s suite of permissioned Ethereum-based services, the Onyx Lounge was revealed alongside a...

Super Bowl sees crypto adverts break into the mainstream

NFL Super Bowl

Sunday’s Super Bowl LVI, the annual playoff game for the US National Football League (NFL), saw four major exchanges debuting cryptocurrency adverts during the commercial breaks.

Long renowned as a clear sign of pushing into the mainstream of marketing, Super Bowl ads are eye-wateringly expensive and tend to generate significant online discussion by themselves.

This year saw adverts from Coinbase, Crypto.com, eToro, and FTX, despite growing sentiment amongst regulatory...

Bitcoin processes $187bn more in transactions per quarter than PayPal

Canary Wharf, London

The Bitcoin (BTC) network is now processing more volume in terms of transactions than payments platform PayPal, according to blockchain analysis firm Blockdata.

Looking at average transaction volumes, Blockdata says that the Bitcoin network outshone PayPal by $187 billion (£140.4bn) per quarter this year. An impressive overtake for a payments system twelve years younger than PayPal.

Blockdata reported that: “The Bitcoin network processed an estimated average of $489...

France FinTech launches €100m blockchain initiative funded by Binance

Binance Logo

France FinTech, a non-profit association that promotes financial technologies in France, has launched a €100 million (£85m) initiative to support the development of the French and European blockchain ecosystem.

The initiative, which is being fully funded by leading cryptocurrency exchange Binance, will see the development of a research and development hub in France, a decentralised ledger accelerator, and an online education programme.

The education programme is being...

Blockwall creates venture capital fund for blockchain startups

a pile of Euro notes.

Blockwall Management, a Bafin-registered asset manager, has closed its Blockwall Capital II fund. 

The target volume for the venture capital fund, which invests in pioneering blockchain startups, is up to €50 million (£42.97). The final closing is scheduled for the end of 2021.

The new fund focuses on equity investments in early-stage startups that can advance tangible applications based on blockchain technology and thus add real value to businesses. The venture...

Associated Press auctions first NFT artwork commemorating blockchain usage in US election

As non-fungible tokens (NFTs) become an increasingly popular way to create artificial scarcity in the digital marketplace, the Associated Press (AP) has listed its first ever NFT artwork for auction in collaboration with Everipedia and digital artist Marko Stanojevic.

Total sales across NFT marketplaces stood at $500 million (£360m) in February, compared to just $200m (£144m) for the whole of 2020, signifying their increasing popularity due to Bitcoin’s growing value alongside...

Blockchain lags behind other technologies in finance adoption for now, says Broadridge

Global fintech firm Broadridge Financial Solutions has released a new report on next-gen technology adoption amongst financial services firms.

It finds that, of the four ABCDs of innovation (AI, blockchain, cloud, and digital), blockchain technologies are currently being implemented the least.

Of the 1,000 C-suite executives and direct reports that were surveyed, only 15% are currently at mid to advanced stage implementation of blockchain technologies. This compares to...

Ripple pushes for carbon net-zero by 2030, urges all crypto players to be ‘accountable’

Ripple has announced a commitment to be carbon net-zero by 2030, claiming to be the first blockchain company to do so - and has put together partnerships to help achieve it.

The company is partnering with conservation organisations Rocky Mountain Institute and REBA, as well as the Energy Web Foundation, to help 'ensure fintech is sustainable' - a goal Ripple says is 'critical.'

The collaboration with Energy Web Foundation has seen Ripple co-create EW Zero, an open source...

Blockchain spend to hit $4.1bn in 2020 as banking and manufacturing lead ‘robust’ investments

Global spending on blockchain solutions will reach $4.1 billion (£3.18bn) this year at an increase of more than 50% compared to 2019, according to IDC.

The analyst firm's latest Worldwide Blockchain Spending Guide forecast a five year CAGR of 46.9%, reaching a total of almost $17.9bn by 2024.

In total, banking and manufacturing - both process and discrete - will account for approximately half of total blockchain investment this year (below). Finance will be by far the...