Sat - 25 Mar

Good Morning & Happy Saturday! As always you can find your personal referral links at the bottom 🫡.  Polkadot will organize its first-ever global conference in India, RBI to make CBDC more secure by introducing privacy measures, Binance got hacked and there is a Swiss bank-backed stablecoin coming.

🇮🇳 Polkadot Unveils First Global Blockchain Conference in India: Polkadot, a major blockchain platform, has recently announced its first global blockchain conference, 'Polkadot Now India Conference,' in India with the aim of establishing a presence in the Indian ecosystem. The conference will take place in April 2023 at the Sheraton Grand in Bengaluru and will showcase a variety of high-profile projects, including KILT Protocol, Astar Network, Moonsama, Public Pressure, Polkassembly, Unique Network, Polkadex, and over 30 different speakers from the Polkadot ecosystem. The conference will enable developers, researchers, media, investors, and other stakeholders to learn about the Polkadot ecosystem, share knowledge, and identify new collaboration opportunities for the entire ecosystem."

🕵️ India’s Central Bank Seeking Privacy Legislation for Retail CBDC Users: A source at the Reserve Bank of India (RBI) has revealed to CoinDesk that the RBI is pushing for new legislation that would permit users of its retail central bank digital currency (CBDC) to delete any transactions from the ledger. The proposed legislation is aimed at maintaining the anonymity of users, and the RBI is currently running retail and wholesale CBDC pilots, with the retail version already active in 15 cities and involving over 100,000 customers and 13 banks. However, the RBI may need to secure legal backing from the finance ministry before it can introduce the "delete" option, and is reportedly seeking a way to ensure that privacy is maintained in its CBDC through the new legislation.

🚛 Binance Bug Dumps BTC: Binance, a cryptocurrency exchange, has temporarily stopped spot trading on its platform due to an issue that has not been named. The exchange acknowledged the problem via a tweet and assured its users that it was working on resolving it. Binance's CEO, Changpeng Zhao, referred to the issue as a "weird one" and attributed it to a bug in the matching engine affecting trailing stop orders. As a standard procedure, deposits and withdrawals were also suspended, but Zhao reassured users that their funds were secure. The recovery process is expected to take between 30 minutes to two hours. As a result of this news, Bitcoin (BTC) saw a 1.39% drop in the 1-hour candle to $27,635, according to data from CryptoSlate.

📝 Coinbase Says That It Will List Arbitrum’s Token: Coinbase, a cryptocurrency exchange based in the US, revealed on March 22 that it plans to support the forthcoming native token ARB from Arbitrum and list it for trading on its platform. Coinbase will offer backing for the ERC-20 token and cautioned users against sending it to networks other than Ethereum. The exchange also stated that trading will commence once there is sufficient supply and liquidity conditions have been met, which is anticipated to occur following the airdrop on March 23. Additionally, the coin will carry an "experimental" tag on the exchange, which simply indicates that the token is new to the platform and does not impede holding, transferring, or trading. Furthermore, the exchange indicated that ARB trading will not be available in some supported jurisdictions, without providing any additional information.

🚀 Centi Launches CHF Stablecoin Backed 1:1 By A Swiss Bank: Centi, a startup based in Switzerland, announced the launch of a stablecoin named the Centi Franc Stablecoin (CCHF). The stablecoin is pegged 1:1 to the Swiss franc and is supported by a Swiss bank guarantee. The CCHF token is the foundation of its blockchain-based Global Payment Network and is the "closest implementation to date" of a central bank digital currency (CBDC). The new payment network, which employs blockchain and web3 technology, significantly reduces the cost and time required for merchants to settle transactions and receive funds. This enables real-time settlement between buyer and seller, effectively competing with credit card payments and other conventional payment providers. Centi claims that processing payments via its network is 90% less expensive than established competitors such as Paypal, VISA, and Mastercard.

What Is Arbitrum?: Arbitrum is a layer 2 solution designed to improve the capabilities of Ethereum smart contracts — boosting their speed and scalability while adding additional privacy features to boot. The platform is designed to allow developers to easily run unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions on a second layer, while still benefiting from Ethereum's excellent layer 1 security.