Author: Sahil Poudel

Summary

Samsung is expanding its reach towards blockchain and taking an initiative to boost security across its AI-powered home devices. It plans to integrate some of blockchain features including its enhanced security framework for smart appliances.

Trust Chain for Device Security

Samsung announced their aim to extend the Knox Matrix framework, previously used in Mobile devices, TVs and in home appliances. This framework uses a private blockchain to create a “Trust Chain”, which allows devices to monitor each other, reducing security threats.

According to Samsung :

“Based on blockchain technology, Trust Chain allows connected devices to monitor each other for security threats and notifies users of threat-blocking measures if there is a problem with the security status.”

Cross-Platform Privacy and Protection

Samsung is also launching “Cross Platform” technology which ensures consistent security across all operating system. It will add another layer of privacy by adding encryption and decryption system. Furthermore, Samsung also plans to upgrade their privacy sector by adding biometric authentication.

Broader Blockchain Integration

This effort will benefit decentralized space, like how DeFi is making transactions much smoother than TradFi. This initiative by Samsung is built on their previous blockchain projects, such as The Samsung Blockchain Wallet and Samsung Blockchain Keystore. These projects provide secure private keys which supports decentralized applications ( dApps), showcasing Samsung’s commitment to Blockchain and innovation.

Summary

DBS bank has launched DBS token services, which is a blockchain-powered solution focused at institutional banking processes. This new service integrates Ethereum compatible blockchain and its core payment methods for real-time transactions.

Blockchain-Enabled Payments

Following the initiative taken by world renowned SWIFT bank, The services provided by DBS bank will utilize smart contracts to facilitate real-time payment settlements through a permissioned blockchain, where only authorized user can participate, ensuring secure and reliable transaction. The smart contracts will automate and govern processes like Treasury Tokens, Conditional Payments, and Programmable Rewards, providing greater efficiency and security.

Understanding Tokenization

Tokenization refers to converting physical assets into digital tokens. Tokenization makes physical assets easier to access, manage and trade. Smart Contracts add transparency, enforce automatic agreements and security to financial transactions on the blockchain.

DBS’s Ongoing Blockchain Commitment

This launch builds on previous blockchain initiatives by DBS, including a pilot for treasury tokens and blockchain-based government grants. The bank’s foray into crypto options trading further signals its commitment to exploring digital assets and blockchain technology for its clients.

Residents of Granbury, Texas, have filed a lawsuit against crypro mining company Marathon Digital, accusing the company of severe noise pollution and serious health risks. The lawsuit, filed in Texas State Court, claims the persistant noise from Marathon Bitcoin Mining facility to cause serious health issues, such as migraines, tinnitus, hearing loss and vertigo.

Seeking Legal Action

The lawsuit demands permanent halt to the excessive noise from mining operation. Rodrigo Cantú, a senior attorney at Earthjustice, stated that residents’ home are not peaceful anymore. He then urged Marathon Digital to immediately take a step to address this noise pollution.

Marathon has tried to Block to the noise by building a 24-foot sound barrier, but residents argue that the barrier is still ineffective.

Texas: A Crypto Mining Hub

Since, China banned crypto mining operations in 2021, Texas has become a favourable place for Cryptocurrency mining. This state’s cheap electricity and favourable regularions have attracted major mining companies which includes Marathon Digital.

However, the rapid growth of mining operations in the state has sparked concerns about its impact on the power grid. Increasing electricity cost with increasing Health complaints have raised questions about large scale crypto mining projects on local communities.

The world of Decentralized Finance (DeFi) has been dominated by Ethereum, however, Bitcoin is considered to be “digital gold“. With this consideration, a question arises about why isn’t BTC leading DeFi.

Bitcoin: The Undervalued Giant in DeFi

Despite Bitcoin being the most valued and trusted cryptocurrency its use in Decentralized Finance is limited. Ethereum had a design for secure and better smart contracts which gave it an early advantage but with Bitcoin’s technical upgrades, this is starting to change. The introduction of new generation networks like Taproot and The Lightning Network has enhanced Bitcoin’s ability to conduct complex transactions faster, more securely, and at a lower cost. New changes have made Bitcoin sufficient to handle proper Smart Contract and Decentralized Applications (dApps)

From Digital Gold to DeFi Leader:

Bitcoin has already established itself as a trustworthy and secure blockchain element. However, the belief that Bitcoin only being good for ”holding” is starting to change. With Taproot enhancing Bitcoin’s Smart Contract Capabilities and Lightning enabling near-instant transactions, Bitcoin is now ready to dominate DeFi and become a DeFi Leader. Meanwhile, Ethereum is continuously facing challenges with gas fees and scalability, Bitcoin Offers faster, secure, and cost-effective transactions which puts it in a position to dominate the DeFi space.

The Uncapped Potential of Crypto’s True Titan:

The progression of Bitcoin technology allows various other DeFi services such as lending, trading, and asset management. More importantly, Bitcoin’s coordination with cross-chain platforms allows a smooth interaction with other assets like ERC-20 tokens and Stacks. Bitcoins ability for handling transactions has already been demonstrated by platforms like Bitfinex, which has integrated the Lightning Network.

The Future of DeFi is Bitcoin:

As Decentralized Finance (DeFi) continues to expand scalability and security both become really crucial, and Bitcoin offers both. Ethereum struggles with high gas fees and network connections. Bitcoin’s infrastructure is boosted by Layer-2 Blockchains, which emerge as a far superior option in the current context. Bitcoin is expressing its compatibility and interoperability, which makes it ready to lead the next wave of DeFi innovation.

As the DeFi space evolves, Bitcoin’s usage will also accelerate making its competitors hard to keep up. I think it is time for investors to realize the future potential of BTC.