Quote of the week: “Digital ledger technology can make complex trade transactions more efficient and secure. Smart contracts allow parties to specify the terms of an agreement and ensure that those are immutable and transparent.” – Martha Reyes, Head of Research at Bequant. Source: https://cointelegraph.com/news/crypto-adds-efficiency-to-global-trade-and-financing-says-bequant-exec
Crypto Donations Helping to Aid Ukraine: The government of Ukraine is accepting cryptocurrency donations to purchase critical supplies, including gas, food, and military equipment. More than $10 million in crypto donations have already been sent and spent. Vendors are stepping up, as well, accepting cryptocurrency in exchange for supplies. Even anti-war Russians are donating cryptocurrency to Ukraine. Cryptocurrency is proving to be more efficient than traditional payment methods that take a lot of time, time that Ukraine does not have. Source: https://www.coindesk.com/policy/2022/02/28/ukraine-government-is-using-crypto-aid-to-purchase-critical-supplies/
NFTs Are Even Helping Ukraine: On March 2, an NFT of the Ukrainian flag sold for roughly $6.75 million, with proceeds going toward Come Back Alive, an organization that donates resources to civilians and military personnel of Ukraine. The NFT sale was coordinated by UkraineDAO, a crowdfunding effort. Source: https://finance.yahoo.com/news/ukrainian-flag-nft-raises-6-163447981.html
eBay is Adding a Crypto Payment Option Soon: Given the continuing mass adoption of cryptocurrency, eBay is wanting to add a new payment option to attract a new customer base. The CEO of eBay said the e-commerce giant could integrate cryptocurrency payments soon. Source: https://cointelegraph.com/news/ebay-to-add-crypto-payment-options-soon-says-ceo
Bitcoin Update: Bitcoin is currently trading at $43,897 as of 9:37 a.m. EST on March 3, 2022. This week, Bitcoin’s price has fluctuated significantly due to speculation around the United States Federal Reserve’s tightening cycle and recent geopolitical happenings. Bitcoin’s value is at a crucial level of resistance, and it is thought that if the cryptocurrency can rally towards $45,000 before stock markets close on March 4, it would pave the way for a breakout and a potential increase in price over the weeks ahead.
Insurance in the Metaverse: IMA Financial Group, a large United States insurance broker and wealth management firm, is opening a research and development center in the Metaverse, Decentraland. The group plans to start selling NFT insurance, as there are no insurance products in the market directed at these items, including NFTs. The group also wants to explore the Metaverse value chain and hopes to advise clients on aspects of decentralized finance. Source: https://www.coindesk.com/business/2022/03/02/ima-financial-plans-to-start-selling-nft-insurance-in-decentraland/
And, that’s a wrap!