Ethereum decreased its annual CO2 emissions by over 21M tons

Over 109M more trees would have been needed to offset Ethereum’s CO2 emissions prior to its switch to a more efficient consensus.

Ethereum switched to a Proof-of-Stake (PoS) consensus last year in an event called The Merge. Regardless of personal views on Ethereum and the wider blockchain and web3 space, The Merge was broadly seen as an incredible feat of open-source engineering.

The Merge is the first major step on the road to Ethereum 2.0 which aims to tackle the...

Ransomware revenue for hackers falls 40% as victims think twice

Security

Ransomware attacks may be coming less effective, as revenue from ransomware fell by 40% to $456 million (£368m) in 2022.

Blockchain analytics firm Chainlaysis shared the data as part of its upcoming 2023 Crypto Crime Report, emphasising that the reduced revenue doesn’t necessarily mean the number of ransomware attacks has fallen.

What has changed is that companies have been upping their cybersecurity measures and ransom victims are becoming less willing to pay up to...

CasperLabs: 90% of enterprises are adopting blockchain tech

Business

Despite a difficult past year for crypto and blockchain, new research from web3 platform CasperLabs has found that 87 percent of businesses say they are likely to invest in blockchain in 2023.

‘The State of Enterprise Blockchain Adoption in 2023’ questioned 603 enterprise “decision makers” across firms from the United States, UK, and China.

It found that sentiment towards blockchain remained strong in these countries despite market downturns. On top of the 87...

Reserve Bank of India goes in-depth on its CBDC plans

India

The Reserve Bank of India (RBI) has released a 51-page report outlining the proposed features of its in-development central bank digital currency (CBDC).

The report details the pros and cons of a digital rupee for India whilst also trying to raise awareness for the reasoning and objectives behind CBDC development.

Key motivations for issuing a CBDC, according to the report, include the promotion of trust, safety, liquidity, and settlement finality.

Reducing the...

One million Australians to buy crypto for the first time in next year

Sydney, Australia

Around one million Australians will buy into cryptocurrency for the first time over the next 12 months, according to the Annual Australian Crypto Survey commissioned by Swyftx.

Such growth would bring total crypto ownership in the country to more than five million – a fifth of Australia’s population.

Australian crypto exchange Swyftx hired YouGov to conduct the survey, quizzing 2,609 Australians over the age of 18 and finding that 548 of those surveyed held...

Ripple: Most financial institutions plan to use crypto within three years

A report by Ripple suggests that most financial institutions plan to start using crypto within the next three years.

Despite the bear market, financial institutions remain interested in the cryptocurrency space. Just this week, $10 trillion asset manager BlackRock launched a spot Bitcoin trust while saying that it’s also exploring “permissioned blockchains, stablecoins, cryptoassets, and tokenization.”

While BlackRock is exploring the potential financial benefits...

Millicent Labs demos full-reserve digital currency for UK government

Blockchain fintech company Millicent Labs has completed a sandbox test for a full-reserve digital currency (FRDC) with co-funding from the UK government’s Research and Innovation branch.

An FRDC is a privately issued digital currency pegged to a fiat currency, according to Millicent. The company believes it avoids the pitfalls of central bank digital currency and stablecoins while bridging blockchain technology with traditional finance.

Millicent plans to introduce a...

North Korea’s stash of stolen crypto has plunged in value

Victims of North Korea-linked crypto thefts may take some comfort in knowing that connected wallets have plunged in value.

Despite the recent drawdown, the exponential rise in the value of cryptocurrencies over the past decade has made them key targets. Hackers are regularly seeking to obtain cryptocurrencies through hacks and ransomware campaigns.

Fortunately, transactions on most blockchains are easy to track. Wallets connected with North Korean hacking groups like...

A16z State of Crypto: “It is still early days for web3”

Andreessen Horowitz (a16z), a prominent venture capital firm investing heavily in the web3 sector, has published its first “State of Crypto” report exploring current trends in the market.

The overarching takeaway from the report is that web3 and the crypto market develop in cycles.

As prices climb, interest in the sector grows to the point where it can no longer be sustained. Following a (usually steep) falloff in prices, innovators develop new projects that revive...

Gemini research reveals 18% of UK adults own cryptocurrency

Globalisation

Almost one fifth (18%) of UK adults own cryptocurrency and nearly half of these (45%) invested for the first time in 2021, revealing massive growth in terms of adoption.

The figures come from Gemini’s new ‘2022 Global State of Crypto’ report which surveyed 29,293 adults from across twenty countries, including 2,300 people from the UK.

Gemini is a cryptocurrency exchange that was launched in 2015 by the Winklevoss twins. Recently, it has received major external...