Chain News by Thebittimes.Com

Alchemy Pay has integrated Euro Instant solution, SEPA Instant, and Faster Payments SEPA Instant enables European users to buy up to 5,000 euros in cryptocurrency. Faster Payments in the UK accommodates transfers of up to 5,000 British pounds. Cryptocurrency payment platform Alchemy Pay has bolstered its payment infrastructure, introducing new deposit options across Europe and the United Kingdom. The platform has integrated the Euro Instant solution, Single Euro Payments Area (SEPA) Instant, and Faster Payments in the UK to simplify crypto transactions for users in 30 European countries and the UK, with swift processing times and defined transaction limits. Enhanced accessibility and transaction flexibility The move by Alchemy Pay to integrate the various on-ramps in Europe and the UK is a significant strides in expanding its payment options , to offer enhanced deposit channels in Europe and the United Kingdom. With the addition of the Euro Instant so...

The EU’s Data Act could introduce “kill switch” requirements for smart contracts, raising questions about how decentralized projects would handle such a scenario. The Data Act — a contentious piece of European Union legislation that includes a clause requiring the ability to terminate smart contracts — has been approved by the European Parliament. If introduced, the legislation will require a smart contract to have a “kill switch.” In a Nov. 9 press release, the parliament announced that the legislation was passed with 481 votes in favor and 31 against. The next step for it to become law is to gain the approval of the European Council. In its current form, the Data Act stipulates that smart contracts must have the capability to be “interrupted and terminated,” and it mandates controls that allow for the resetting or halting of the contract. The stipulation appears to be a significant departure from the blockchain’s foundational ethos of decentralization. How such kill switch es would...

The guests on this episode of Hashing It Out discuss how cloud technology and Web3 intersect, with a special focus on user identity and regulations. Cointelegraph’s Hashing It Out  podcast talks to Howie Jiang, Web3 chief solution architect at Tencent Cloud Europe, and Fakhul Miah from Elastos about how crypto can take advantage of cloud technology. The two firms recently announced a partnership to “accelerate the Web3 space.“ Tencent Cloud, a popular global cloud vendor, is betting heavily on Web3 with operations in 27 regions and multiple projects related to Web3. Jiang highlights the firm’s experience with Web3 and explains that the cloud company wants to expand overseas after working with nonfungible tokens (NFTs) and other blockchain products in China. Elastos has been building what it describes as “the next phase of the internet” for the last five years. Miah explains that a commitment to providing individuals with true digital sovereignty sets it apart from other projects. O...

Binance spokesperson told crypto.news confirmed that SEPA-based euro payments will continue to be processed until Sept. 25 but with a catch. In an Aug. 22 statement, a Binance spokesperson told crypto.news that the SEPA deposit and withdrawal service will continue until 25 September. Still, additional checks are likely for users who intend to use SEPA transfers to interact with their accounts in the exchange: “As we approach that date, some users may occasionally be asked for more information as part of routine compliance checks, which could lead to early closure of their accounts.” Binance spokesperson Binance’s statement ended in a standard cookie-cutter apology by the company. The company apologized “for the inconvenience, and it is important to note that we will have alternatives for our users in place before the end of the SEPA service.” You might also like: Binance to exit Netherlands after failing to obtain registration The answer f...

The postal service of the autonomous territory of the Faroe Islands has become the latest national postal service to issue a collection of NFT collector stamps. The Faroe Islands have issued a new series of digital stamps deemed “crypto stamps” with a digital copy, in the form of a nonfungible token (NFT), stored on the blockchain while still serving as actual postage.  The Posta Faroe Islands’ official website for issuing posta ge announced on June 23 that the autonomous region issue d its first collection of crypto stamps called Stamps of Maybe in collaboration with VariusSystems.  Stamps of Maybe crypto stamps from the the Posta Faroe Islands. Source: the Posta Faroe Islands According to the postal service, each physical stamp has a digital version which is stored on the blockchain and allows users to have a say in the creation of the stamp, which adds to the rarity.  Michael Dorner, the CEO of VariusSystems said after attending a summit with the Universal Postal Union at the Unit...

The platform makes the first use case of a so-called “Proof of Climate” blockchain protocol. Two banks from Sweden and France announced the launch of a new digital bond platform built on blockchain technology. The platform will enable institutional clients to issue, trade and settle bonds digitally, providing a more efficient and secure process than traditional methods. The platform is a joint project of Skandinaviska Enskilda Banken (SEB) and Credit Agricole Bank, called “so|bond.“ According to the announcement from April 3, the blockchain network will be using a validation protocol, “Proof of Climate awaReness,” and minimizing its environmental footprint. The Proof of Climate awaReness protocol is said to enable an energy consumption comparable to non-blockchain systems, and incentivize participating nodes to improve the environmental footprint of their infrastructures. Each node will be remunerated according to a formula linked to its climate impact: the lower the environmental...