The Scenius Sync (Issue #20)

Google To Host ETH Nodes, CZ Takes a Seat at Twitter's Table, & Blockchain To Harmonize Carbon Credits

Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.

Welcome to The Scenius Sync.

Our mission with this concise publication is twofold:

1. Share the essential stories driving the crypto industry and markets.

2. Highlight innovative applications and mainstream adoption of crypto and blockchain technology.

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Essential News 🗞

1. Google Cloud announces blockchain node service starting with Ethereum

   • Google Cloud is opening up a blockchain node engine that will streamline the process of setting up a brand new node, as well as the complications of hosting it on your own hardware. Google's first supported blockchain is Ethereum.

2. EU’s DLT pilot will allow market operators to trade stablecoins before new crypto regulations

   • A European Union pilot program will allow market participants to use stablecoins for trades and settlements before the legal framework for crypto is enforced in at least two years. The plan, known as the DLT Pilot Regime, allows players from both traditional and digital finance to experiment using tokenized securities within a regulated environment.

3. Reserve Bank of India to reportedly launch digital rupee pilot in November

   • The central bank of India will launch the digital rupee pilot for the wholesale segment on Nov. 1. Wholesale CBDCs are a type of CBDC primarily used by financial institutions like banks, involving interbank transactions such as securities settlement and cross-currency payments. The main use case of India’s CBDC pilot will be to settle secondary market transactions in government securities. The digital rupee is expected to add more efficiency to the interbank market by reducing transaction costs of settlements

4. Binance CEO CZ: We Put $500M into Elon Musk's Acquisition 'To Bring Twitter Into Web3'

   • Binance CEO Changpeng Zhao believes crypto needs a “seat at the table” following Elon Musk’s takeover of Twitter and aims to ensure crypto and Web3 are part of Twitter’s future.

5. Largest public Bitcoin miner Core Scientific says it may seek bankruptcy

   • One of the world’s largest miners of Bitcoin warned that it may run out of cash by the end of the year and could seek relief through bankruptcy protection. Operating performance and liquidity have been severely impacted by the prolonged drop in the price of Bitcoin, a rise in electricity costs, increased competition and litigation with bankrupt Celsius Networks LLC

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Innovation & Adoption 💡📈

1. Twitter Will Allow Users to Buy and Sell NFTs Through Tweets

   • Twitter will let users display NFT marketplace listings from certain platforms, including a button to let them buy and sell collectibles. The integration, called NFT Tweet Tiles, displays the artwork of an NFT in a dedicated panel within a tweet, and includes a button to let users click through to a marketplace listing.

2. Matter Labs releases first phase of zkSync 2.0 mainnet called 'baby alpha'

   • Matter Labs has launched the Ethereum scaling solution zkSync on mainnet in what it's calling a "baby alpha" phase, meaning access will initially be very restricted. With the release of zkSync 2.0, the network — going beyond the testnet currently in use — has attained the ability to host smart contracts, letting developers deploy DeFi protocols, NFTs and other types of applications.

3. Western Union Trademark Filings Signal Crypto, Web3 Exploration

   • The applications made by Western Union imply that the company intends to launch its very own virtual currency exchange and cryptocurrency token. The financial services company also has plans to expand into managing and administering digital assets.

4. World Bank backs blockchain project to harmonize carbon registry data

   • Climate Action Data Trust (CAD Trust) is a new initiative that uses blockchain to create a decentralized log of carbon credits to store data from multiple major carbon registries. It plans to launch and share details in December. This particular project is about sharing registry data rather than tokenization. Nonetheless, there is considerable momentum in using blockchain technology to tokenize, trade and settle carbon credits.

5. Digital Bank Revolut to Allow Customers to Make Purchases With Crypto Balances

   • The fintech firm recently won registration from the U.K.'s financial regulator to offer crypto services and is adding a crypto spending feature that will enable customers to use their crypto balance to pay for everyday purchases using their Revolut card.

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