Monday Movers 19

A Chinese University opens up a metaverse department, while Disney seeks a corporate lawyer for emerging tech.

Highlights from the weekend:

  • A metaverse major is in the works for a Chinese University
  • Disney is on the search for a corporate lawyer to support global NFT products
  • A South Korean city might be the next Blockchain hotspot
  • Russia’s Ministry of Finance and the Bank of Russia approve cross-border crypto transactions

Words of Wisdom:

"The earliest adopters at scale of crypto were gamers."

- Brock Pierce 
“The blockchain does one thing: It replaces third-party trust with mathematical proof that something happened.”

-Adam Draper
"The old question: is it in the database? Will be replaced by is it on the blockchain?"

- William Mougayar

Finblox Performers:

The Scoop:

Busan, South Korea’s second-largest city has been working on blockchain development for the past four years. South Korea has been making significant moves toward the metaverse, including Seongnam city’s recent shift to provide citizenship rights through NFTs. Busan, with a population of 3.3 million residents, was deemed a special blockchain zone in July 2019 - by former President Moon Jae-in. This resulted in a plethora of blockchain initiatives scattered around the city. The Busan Chamber of Commerce conducted a poll of 465 blockchain enterprises, and deduced that over 48% of residents were unfamiliar with the city’s special blockchain zone title. Busan is currently working towards making their title well-known, while simultaneously developing blockchain-centric initiatives.

The Nanjing University of Information Science and Technology is pushing the Web3 boundaries, by opening up a new department. The brand new metaverse department will be one of the core corners of its School of Future Technology. The dean of the School of AI unveiled that this move marks the start of their exploration into the metaverse - and will be the very first one in China.

3D futuristic man future screen metaverse oculus rift
See you at the metaverse engineering department!

The Shanghai government mentioned that it also plans to allocate $1.4 billion in assets, dedicated solely for the future of the metaverse. China has not fully accepted crypto yet, and news media outlets still continue to warn against the risks brought about by digital assets. While the public is tinged with enthusiasm, the move to name a major after the metaverse has also drawn skepticism. Regardless of the risks, local Chinese governments are still devising plans to establish crypto adoption.  

The Walt Disney Company has plans to expand into the crypto space, after revealing its recent job hire title. The company is seeking a well-versed corporate attorney to work on “emerging technologies” such as the metaverse and NFTs. The Disney careers website shared that they’re on the hunt for someone to provide “full product life cycle legal advice and support for global NFT products”.

walt disney fireworks castle explosion joy vision dream
If you can dream it, the metaverse can create it. 

This is a new endeavor for the entertainment conglomerate, and their vision is fixated to the realm of Web3. The budding corporate lawyer will also be responsible for third-party marketplace and cloud provider projects, while providing legal advice on cryptocurrency-related matters. CEO Bob Chapek mentioned that the company was gearing up to merge physical and digital assets in the metaverse. Following this announcement, Disney filed a patent for a virtual world-simulator - for a possible theme-park metaverse.

Russia’s Ministry of Finance and the Bank of Russia have recently agreed to pass a bill allowing cross-border crypto transactions. The Deputy Finance Minister stated that the bill generally explains “how to acquire cryptocurrency, what can be done with it, and how it can or cannot be settled with it in the first place in cross-border settlements.” The bill will allow citizens to access their personal e-wallets to make the necessary payments required, through the use of digital assets.

Minister Moiseev mentioned the necessity for Russia to develop local crypto services, so they won’t rely on foreign platforms. Russia has had an iffy relationship with crypto since the Bank of Russia requested a ban on the issuance of cryptocurrencies, earlier this year. However, the rules are loosening up as the governor of the central bank shared that digital assets could be used for international settlements, so long as they’re not traded within Russia.

Blockchain Events and Conferences:

...and finally, some memes for your morning:

DISCLOSURE:

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.

Finblox Blog is associated with Finblox - a next-generation crypto ecosystem where you can buy and earn amazing rewards on your digital assets.

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