Ethereum Added Over 38 Million New Addresses in 2021 ⬆️
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Ethereum Added Over 38 Million New Addresses in 2021 ⬆️
The Ethereum network has seen considerable growth in popularity as more crypto enthusiasts are looking to invest in the second-ranked cryptocurrency.
This increased interest is evident by the number of unique new addresses added in 2021 alone.
According to data published by blockchain intelligence firm IntoTheBlock, the Ethereum network gained more than 18 million addresses with a balance greater than zero in 2021. This data suggests that the network grew at a pace of 1.53 million addresses monthly.
In a Twitter post, IntoTheBlock shared its findings saying, “Ethereum users growth in a nutshell. A good way to track the adoption is by following the number of addresses with a balance. There are 70.4m addresses holding $ETH. Just in 2021, it increased 18.36m. That means the network was growing at a pace of 1.53m addresses per month.”
Though the surge in the number of addresses holding Ethereum does not signify the exact number of holders of the Ethereum token, the overall data indicates that the Ethereum network is growing at an unprecedented rate.
The United States 🇺🇸 Sees Carbon Capture as Key Tool 🔧 to Fight Climate Change
The U.S. administration under President Joe Biden has issued new regulations to the federal agencies to support American leadership on clean manufacturing, which also includes proposals to capture and sequester carbon dioxide pollution.
With these new guidelines, the Biden administration wants to achieve net-zero greenhouse gas emissions by 2050 to fight climate change.
However, this plan will not only require steep cuts in carbon output but will also need broader use of negative emission technologies that can clean the emissions.
While announcing the guidelines, Council on Environmental Quality (CEQ) Chair Brenda Mallory said, “With industries moving quickly to adopt and deploy carbon capture technologies, Federal agencies can play a key role in ensuring that projects are done right and in a way that reflects the needs and inputs of local communities.”
She added saying, “The guidance issued today provides Federal agencies a framework for helping guide CCUS deployment in a manner that is environmentally sound and that cuts cumulative pollution in nearby communities.”
The new guidelines issued by the CEQ will be open for public comments until March 18. They are also open to recommendations for streamlining federal decision-making on proposed CCUS projects.
JPMorgan Becomes The First Bank 🏦 to Enter Into The Metaverse
JPMorgan has become the first major banking firm to establish itself in the Metaverse by opening a virtual lounge in Decentraland, which is based on blockchain technology.
The American banking giant has taken the bold step to enter into the Metaverse after it labeled the sector as a $1 trillion opportunity.
The metaverse lounge called ‘Onyx lounge’ is named after the bank’s in-house blockchain payments system.
On visiting the lounge, which is located in Decentraland’s Metajuku mall, visitors will be greeted by a roaming tiger, a digital portrait of JP Morgan CEO Jamie Dimon, and more.
Besides unveiling the metaverse lounge, JPMorgan also introduced a report titled “Opportunities in the metaverse,” which shows how businesses can find opportunities in the metaverse.
The report states, “The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues.”
Overall, it looks like new use cases of the metaverse and their robust applications in various fields, fueled by integrated commerce applications using blockchain technology, are on the track of becoming mainstream in the future.
Digital Financing Platform Financing Societies Raises $144 Million 💰
Funding Societies, a Singapore-based digital financial platform, has raised $144 million in its latest funding round.
The funding was led by SoftBank Group Corp's SoftBank Vision Fund 2 and also saw participation from new investors like VNG Corporation, Rapyd Ventures, EDBI, Indies Capital, K3 Ventures, and Ascend Vietnam.
Founded in 2015 by Iwan Kurniawan, Kelvin Teo, and Reynold Wijaya, Funding Societies is an SME digital financing platform operating in the Southeast Asian region.
The company is licensed in Singapore, Indonesia, Thailand, and registered in Malaysia.
Funding Societies disburses online loans ranging in size from $500 to $1.5 million.
Since its launch, it has disbursed more than $2 billion in loans to MSMEs through more than 4.9 million loan transactions.
The company’s customers include neighborhood stores, e-commerce vendors, SMEs, startups, among others that need access to quick financing solutions than bank loans, which usually take two to three months to disburse loans.
Funding Societies plans to use the fresh funds to fuel its growth and expand its presence in newer markets.
Around the Web 🌐
Google Drive Gets New Search Filter Buttons: Google is introducing a new feature called ‘Search Chips,’ making it easier for users to search for files by location, file type, date, etc., in Google Drive. The feature was first released as a beta in November 2021 but is now becoming available to all Workspace users, along with G Suite Basic and Business users.
Akamai to Acquire IaaS Platform Linode For $900 Million: Web services company Akamai Technologies has announced to acquire Linode, an infrastructure-as-a-service (IaaS) platform provider, for $900 million. The deal, which is expected to complete in Q1 2022 will help Akamai provide businesses with a developer-friendly distributed platform to build, run, and secure applications for modern digital experiences.
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