Before you go and sell your kidney for the iPhone 14 pro max😂
You must read this…
Here is what team Inspired Analyst has for you:
What will the Partnership between SWIFT and Chainlink render?
Why is everyone making a big deal about the Introduction of Web3 wallet by Robinhood?
Will the Apple App store accept your Kidney or the NFT?
Let’s get Started!
SWIFT and Chainlink Partner up
If you have ever made cross-border payments you must have come across SWIFT.
SWIFT is the interbank messaging system that allows the execution of financial transactions worldwide.
Recently, SWIFT partnered up with Chainlink to work on a cross-chain interoperability protocol (CCIP) in an initial proof-of-concept.
This is monumental because CCIP will enable SWIFT messages to instruct on-chain token transfers, helping the interbank network to be able to communicate across all blockchain environments.
Below you can see some interesting statistics about SWIFT.
Team IA’s thoughts: We think this is excellent news as this partnership will assist traditional financial institutions to close the gap between traditional and digital assets giving traditional finance users access to traditional and digital assets under one network. Furthermore, It will also assist in speeding up the adoption of distributed ledger technology (DLT) blockchains and benefit a variety of financial institutions.
Robinhood Reveals New Web3 Wallet
It is now official. Robinhood has begun beta testing for their new web3 wallet.
It is a non-custodial wallet meaning you have sole control of the keys of your wallet
Polygon will be the first blockchain on which it will be launched.
Users will have access to dApps such as Uniswap and Decentraland.
There is a "gasless swap" function, which means there will be no network or gas fees for app transactions. It is paid for by Robinhood.
The beta will be distributed to 10,000 iOS users. The remaining 1 million people on the waitlist will have to wait until the app is completely launched later this year.
This is noteworthy since Robinhood has 15 million or more monthly active users, and it's evident that they want to continue their aggressive push into cryptocurrency.
Apple allows NFT Trade Via App Store
Apple has shown the green signal to developers for selling NFTs as in-app purchases.
Previously, apps and developers were violating Apple’s rules by displaying and storing NFTs. However, there is some controversy about this decision.
Apple has kept a straight-up 30% commission fee for all transactions,
To further stir things up all transactions must be in USD - No Crypto allowed!
Team IA’s thoughts: We see both the good and the bad in this announcement by Apple.
Starting off with the good, NFTs will be now accessible to millions of people.
However, the downside is that not every business can afford the 30% commission. Web3 was designed to escape the issues that plagued Web2: closed systems, expensive commission fees, and corporate censorship.
MEME of the Week
Help Interpol find Do Kwon
We’ll see you on Tuesday with the Technical Analysis!
Lastly, Team Inspired Analyst wishes you Jummah Mubarak!
Until then,
Zain - signing off
From Inspired Analyst’s Team.
Disclaimer:Â This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.