CageChain Newsletter #211 | Zcash Upgrade, S. Korea Serious About the Metaverse, Bank of America & Fidelity Serious About Blockchain, Can the Ethereum Merge Boost DeFi? and More

By KHubbard | CageChain | 2 Jun 2022


Zcash is shifting to the Halo proving system, facilitating trustless digital cash payments on mobile phones. Famed whistleblower Edward Snowden participated in the Zcash launch in October 2016, without compensation. The Electric Coin Company (ECC) announced today in a blog post the launch of the first major upgrade to the Zcash privacy coin network since November 2020, Zcash Network Upgrade 5 (NU5). South Korea set a $117.1 million budget to invest in the metaverse and became one of the first governments ever officially to do so. This earmark results from the country's long-term plans regarding the metaverse, which could provide a blueprint to other governments. The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. "The reality is that we can't do it by regulation," he said. Fidelity Digital Asset Services, a subsidiary of Fidelity Investments launched in 2018 so the company could offer institutional investors access to cryptocurrency markets, plans to double its workforce to 220, The Wall Street Journal reported Tuesday (May 31). The Journal noted that Fidelity has disclosed the plans during what has been a volatile period for cryptocurrencies. DeFi investors are hoping that 's Merge will pull the crypto market out of its current bear market, according to a Bloomberg. Data from DeFiLlama shows the total value of assets locked in the space has touched new lows. You can find these stories and more at the link below:


Newsletter #211


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