Blockchains incorporate several important features such as immutability, encryption and distributed storage, which combined makes secure peer-to-peer transactions possible and in turn has created the means to end human dependence on credit and thus credit intermediaries. Due to these features, blockchain has been referred to as ‘the Trust Machine’ and is forecasted to transfer the trust from agencies and institutions which are enforced by law to machine-based networks guaranteed by technology and mathematics.

JPMorgan Chase Adopts Blockchain for Collateral Settlement
Financial tycoon, JPMorgan Chase (JPM), announced to use of blockchain technology in the collateral settlement, planning to expand to other asset types such as equities and fixed income, according to Bloomberg.
Crypto-financial Lender Babel Finance Secures $80m in Series B Funding, Valuated up to $2Bn
Hong Kong-based crypto-financial lender Babel Finance has raised $80 million in Series B funding at a valuation of $2 billion.
Thailand Exempts Crypto Transfers from VAT Payments until 2024
The Thai government has decided to exempt crypto transfers from value-added tax (VAT) payments until December 31, 2023, following a royal decree, the Bangkok Post reported.
Crypto Exchange Bitso Lays off Over 10% Employees
South American trading platform Bitso announced the decision to lay off 80 employees in consideration of its long-term business strategy.
Proposal to Burn 1.3bn UST Tokens Wins Approval from Terra Governance
According to CoinGecko, the total number of tokens to be burnt equals more than 1.3 billion UST or around 11% of the existing 11.2 billion UST supply.
Sortium Blockchain Studio Launches 1st 3D Living NFT "Kymera"
Web3 technology provider Sortium Blockchain Studio has launched the first 3D living NFT called "Kymera" based on-chain DNA.
Mobile Game Publisher Kongregate Launch $40M Fund for Web 3 Developer
Mobile game publisher Kongregate has partnered with Immutable X, Ethereum's leading Layer 2 (L2) scaling solution, to launch a $40 million blockchain developer fund.
Blockchain Foundry Pairs with Palmer Group to Launch Web3 Education Platform Metacademy
Canadian blockchain software development company Blockchain Foundry has partnered with Palmer Group to launch Metacademy, a Web3 education platform focusing on blockchain, cryptocurrencies, NFTs, and more.
PCCW, HKT Becomes 1st Hong Kong-based CMT to Join the Metaverse
PCCW and HKT have become the first Hong Kong-based communications, media and technology (CMT) organisations to join the metaverse following a partnership with The Sandbox.
ShareRing Enhances Digital Identity Solutions by Merging ShareToken
ShareRing, a blockchain-based ecosystem providing digital identity solutions, announced to merge ShareToken (SHR) into the Ethereum and Binance networks through a Multichain swap.

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