Monday, October 4, 2021

Sep 27 - Oct 4 Good Crypto Weekly Market Summary

Quick weekly news:

Other notable events include:

  • Visa's interoperability concept for central bank digital currency payments
  • TikTok announced the release of the NFT collection

Visa's interoperability concept for central bank digital currency payments

In The Block interview Visa's head of crypto, Cuy Sheffield, announced that the world's largest payments network, Visa, has taken a step towards realizing its vision of central bank digital currencies (CBDCs). The company introduced the concept of a "universal payment channel" (UPC) for transactions between stablecoins and CBDC.

The UPC concept is aimed at creating a network of blockchain networks with different forms of money flow, regardless of whether they are carried out in the Visa network or outside of it.

The company has also deployed its first-ever smart contract on the Ethereum Ropsten testnet.

TikTok announced the release of the NFT collection

The TikTok app, which has more than a billion monthly active users, announced the release of the NFT TikTok Top Moments collection with celebrities such as Lil Nas X and Gary Vaynerchuk.

“Building on our commitment to helping creators achieve their goals in the growing creator economy, TikTok NFTs provide a way for creators to be recognized and rewarded for their content and for fans to own a culturally significant moment on TikTok” - said in the message.

TikTok NFTs will be running on Immutable X, Ethereum's tier 2 scaling solution. Immutable X reduces transaction fees, speeds up transactions and consumes significantly less energy.

Also, be sure to check out top altcoin gainers and losers of the week ⬇️

https://preview.redd.it/0rp89mfhofr71.png?width=1200&format=png&auto=webp&s=3298220643df9f313a3414b90cb310433ef0ebc8


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