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GM, this is The Crypto Explorer, If laughter is the best medicine, then consider us your daily prescription.
Here’s what we got for you today:
🤖 Solana Labs partners with ChatGPT
⚖️ Circle CEO warns against de-dollarization, urges US to act now
🧱 Around The Block: Soulbound as a tool for KYC
🤖 Solana Labs Partners with ChatGPT!
Solana Labs has teamed up with ChatGPT!
Users will soon be able to interact with the network through an open-source plugin enabled on OpenAI’s chatbot (ChatGPT).
The plugin will allow ChatGPT to:
Check wallet balances,
Transfer Solana-native tokens,
and purchase nonfungible tokens when OpenAI makes plugins available.
But not everyone is thrilled about this development.
Some are asking Solana to focus on building a “working block explorer” first. And others are questioning what benefit it brings to the ecosystem.
Nevertheless, Solana is putting their money where their mouth is.
The Company announced that it will provide $1 million in funding toward projects that build AI tools on Solana. I guess you could say they're going all in on the AI revolution. 😃
So if you've been dreaming of building an AI-powered blockchain-powered chatbot, now's your chance! 👍
Meanwhile, OpenAI has introduced a new privacy feature that lets users "turn off" their chat history.
Finally, a way to erase all those embarrassing crypto questions you've asked! 🫣
The feature is aimed at providing users with more control over their data. That way, you can keep your conversations with ChatGPT strictly between the two of you. 🤫
⚖️ Circle CEO Warns Against De-Dollarization, Urges US to Act Now
Jeremy Allaire, CEO of Circle, is on a mission to save the US dollar from being de-dollarized!
But for that to happen, the US needs to lay out stablecoin legislation imminently, and the Federal Reserve needs to implement the digital dollar into its “core systems”.
If we want to make the dollar safer and more competitive, we need to do two things:
- unleash it's power as a native data type on the internet, that can be openly used and integrated
- remove the underlying bank lending IOU risk on electronic money, and separate payment tokens… twitter.com/i/web/status/1…— Jeremy Allaire (@jerallaire)
11:13 AM • Apr 26, 2023
Allaire even thinks that if the US doesn't act fast, it would be a missed opportunity as other currencies and payment systems will continue to chip away at the dollar's dominance.
But is stablecoin the solution? (that's an argument for another day.)
However, Allaire's point on the US dollar's dominance is true. For example:
The Chinese yuan surpassed the dollar in cross-border transactions in China for the first time in March.
Chinese Yuan overtakes US dollar as most-used currency in China's cross-border transactions for the first time in history.
Yuan-share rose to a record high of 48%, UP from nearly zero in 2010.
U.S-share declined to 47%, DOWN from 83% over the same period.
Wow.
— Genevieve Roch-Decter, CFA (@GRDecter)
5:40 PM • Apr 26, 2023
One thing is certain, the US is going to have to up their game if they want to stay on top.
🧱 Around The Block: Soulbound as a Tool KYC
⚔️ Dodgy Memecoins One crypto wallet launched 114 dodgy memecoins in two months.
😡 Kraken vs IRS: Kraken asks San Francisco court to intervene against IRS demands.
🥴 Soulbound KYC: Neobank introduces soulbound NFTs for wallet holders’ KYC information
🗣️ CZ speaks: Binance CEO denies $28B wealth: ‘I don’t have anywhere near as much.
That's all we have for today.
We'd love your feedback.
In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research
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