FarmVille Game Creator To Build Blockchain Gaming Platform

FarmVille Game Creator To Build Blockchain Gaming Platform
March 17, 2020

 

The outbreak of coronavirus continues to cause havoc in both traditional and crypto markets. Bitcoin (BTC) has rebounded above $5,000 after plummeting to 4,550.80 yesterday. The cryptocurrency is currently trading at $5,206.33, down 2.5% from earlier close. In the past two weeks, Bitcoin’s value has eroded by 41.4%, with 34.3% of drop coming in the past week alone. Ether (ETH) has lost 7.4% in the past 24 hours $114.72. Likewise, XRP has lost 4.7% to trade at $0.1461. Other major (top 20 by market cap) altcoins, which have declined in the past 24 hours include IOTA (IOTA-$0.1110, -7.3%), Cardano (ADA-$0.02511, -5.8%), Monero (XMR-$34.85, -7.3%), Huobi (HT-$2.92, -4.6%), Binance Coin (BNB-$9.78, -4.6%), Cosmos (ATOM, $1.74, -8.9%), OKB (OKB-$3.52, -2.9%), Tezos (XTZ-1.30, -7.6%), Bitcoin Cash (BCH-$176.89, -1.5%), EOS (EOS-$1.96, -4.2%), Litecoin (LTC-$34.20, -5.2%), Dash (DASH-$44.86, -4.6%), ChainLink (LINK-$1.90, -6.3%), Tron (TRX-$0.01, -1.9%), Stellar (XLM-$0.0366, -3.4%), Ethereum Classic (ETC-$4.65, -6.6%) and LEO (LEO-$0.9328, -0.6%).

 

Government level initiatives

Bank of England considering implementing a DBDC

The Bank of England is earnestly studying the advantages and disadvantages of rolling out a central bank digital currency (CBDC) designated in pound sterling. The Central Bank believes that a digital pound could destabilize the prevailing banking system. Nevertheless, a cryptocurrency could use the recent FinTech and ensure quick transactions between users.

The Bank has published a 57-page document validating how CBDCs, which could act both as a store of value and be used in day-to-day transactions, could be launched smoothly.

The report, named “Central Bank Digital Currency March 2020: Opportunities, Challenges and Design” succeeds the negotiations by government officials as they study the impact of moving to a digital economy.

As cryptos and other digital currencies enter the mainstream, fiat currency issued and backed by central banks across the globe is losing their charm and grip on the market.

Facebook’s intention of launching the stablecoin Libra has pushed several countries to seriously look at the option of launching a CBDC.

“We are in the middle of a revolution in payments. Banknotes — the Bank’s most accessible form of money — are being used less frequently to make payments. At the same time, fintech firms have begun to alter the market by offering new forms of money and new ways to pay with it. These developments create major new opportunities, present some new risks, and raise a number of profound questions for the Bank.”

 

Private sector initiatives

FarmVille developer ventures into blockchain gaming sector

Eric Schiermeye, the developer of the popular Facebook game FarmVille, has ventured into the gaming sector powered by blockchain technology. Schiermeye, founder and CEO of Blockchain Game Partners, has revealed that it is building a blockchain-powered gaming platform named “Gala Network.”

The platform intends to back new ideas of developers and will offer players complete ownership over blockchain-based in-game goods in the form of non-fungible tokens. The goods will be usable throughout several games created on the Gala Network. Fifteen coders are currently involved in the creation of Gala.

Schiermeyer forecasts the blockchain-powered gaming will provide a “revolutionary experience for people” by facilitating players to take total ownership over in-game goods: “Just like networked games and social games, I believe that blockchain games are the next evolution in gaming. Pretty soon, nobody will play a game that is a black hole of time and money, if they have good alternatives that allow the player to retain ownership of their time and money.”

 

Blockchain tech holds economic benefits to South African economy

Blockchain technology and artificial intelligence have the potential to decrease unemployment, according to the South African Presidential Commission on the Fourth Industrial Revolution. While speaking at the Blockchain Africa conference in Johannesburg, Commissioner Mpho Dagada stated that blockchain could create huge economic benefits.

Mpho Dagada explained the need for a policy that can trigger the fourth industrial revolution: “We face two significant challenges in the country: reducing unemployment and increasing our Gross Domestic Product (GDP). [The] Fourth Industrial Revolution policy creation can create economic growth in the country.”

Dagada believes that South Africa’s mining industry could gain from innovative solutions based on blockchain technology, in combination with artificial intelligence: “The South African economy has natural resources, a mature financial services sector and is an economic and political powerhouse. If the strength of Africa is in minerals, the world is looking at better ways of tracking data in that space.”

 

Miscellaneous

Bill Gates endorses the blockchain security service – Crest

Philanthropist and software behemoth Microsoft co-founder Bill Gates is backing a blockchain-enabled security service, christened as Crest, for financial technology firms functioning in Africa and Asia. Gates committed $1.40 million earlier in March to assist financial tech firms in these regions to offer their services to unbanked people. Notably, the company rolled out a blockchain token and data handling service at the end of last year, a new tool for clients of cloud computing service Azure.

In 1975, Bill Gates, now 64 years old, founded Microsoft in partnership with Paul Allen. The company has announced that Gates is departing from the Board.

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Richard W

Richard W

Richard is the guy who know everything there is about the financial industry, working in a top firm for over 15 years, he will give the lowdown on some of the biggest companies in the world


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