Bitcoin News

2022-01-03 22:31:46 ​​Qualcomm CEO States Metaverse Will Be a ‘Very Big’ Opportunity

Qualcomm, one of the largest fabless mobile chip makers, is very optimistic about the future of the metaverse and what it might bring for companies and consumers in the area. Qualcomm CEO Cristiano Amon believes that, while there is much to do in the development space, this development is real and will bring a very big opportunity for the people involved.

Hardware companies are starting to view the recent metaverse push in the software industry as an interesting market for them to tackle. Qualcomm, which is one of the biggest fabless chip makers in the mobile world, is focused on the importance that this new technology might bring to the chip and electronic consumer market in the not-so-distant future.

Cristiano Amon, CEO of the company, explained the importance that the company gives to the metaverse in an interview with Yahoo Finance. On the future of the metaverse, he explained:

It’s real, it’s going to be a very big opportunity. We started investing in fundamental technologies that allow the merger of physical and digital spaces over a decade ago.

To Amon, the metaverse means that there will be a need for specialized software for applications that will emerge to provide the metaverse feel for different targets.

Qualcomm’s CEO believes there could be a big market for wearables that will be able to provide metaverse augmentations for people on the go. Amon stated:

We have a number of different developments to eventually be able to create companion to your smartphone with fully immersive augmented reality glasses that actually is going to look like normal glasses. I think that’s a big opportunity. It could be as big as phones.

Chips made by the company drive several devices used in metaverse applications, such as the Quest line of VR headsets produced by Meta, and the upcoming, updated version of the Hololens, a VR headset by Microsoft. However, there are also people against the use of wearables and augmented reality technologies as part of the metaverse.

Ken Kutaragi, considered by some as the father of the first iteration of the Sony Playstation gaming console, considers this amalgamation of wearables in the current conception of the metaverse to be misguided. For Kutaragi, the metaverse has to do more with the application of augmented reality techniques that allow users to enjoy the current world without the use of wearables. Открыть/Комментировать

2022-01-01 03:33:52 ​​Moody’s: Cryptocurrencies Unlikely to Help Russia Evade Sanctions

Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the limited size of the crypto market, according to Moody’s. Despite increased use in small transactions, low liquidity is another factor preventing Russians from exploiting the utility of bitcoin and the like.

Western sanctions, imposed on Russia over its invasion of Ukraine, have raised questions whether Russian citizens and government can utilize cryptocurrencies to bypass the restrictions and conduct financial transactions, Moody’s Investors Service notes in a report published this week.

The agency’s bond credit rating unit highlights the recent increase in the volume of small transactions made by Russians. But the authors also say that despite their anonymous nature, crypto assets are not that useful when it comes to evading financial penalties. They insist:

Given the ruble-to-crypto market’s limited size and low liquidity, we believe that, for now, crypto assets are unlikely to provide a viable and efficient solution for individuals to circumvent sanctions.

Moody’s also recalls that officials in Moscow have recently indicated that Russia may accept payments in cryptocurrency for its oil and gas exports. However, its experts think that again the market’s current size and insufficient liquidity would undermine this option, too.

Furthermore, crypto platforms are often obliged to comply with anti-money laundering and know your customer requirements and they usually check customers during onboarding. “A centralized digital asset venue with well-established screening and compliant onboarding processes would be able to flag and disable blacklisted accounts,” the analysts point out.

While illicit activities of bad actors that occur off centralized crypto exchanges or on unregulated digital asset platforms could remain undetected and unreported to authorities, such activities are not large enough at the moment to enable sanctioned countries like the Russian Federation to avoid the restrictions Moody’s concludes. Открыть/Комментировать