NFTs Causing U.S. Treasury To Raise Alarm Over Money Laundering In Art Industry

The U.S. Treasury Department on Friday issued a set of recommendations to combat illicit finance in the high-value art market and warned that the emerging digital art market, such as non-fungible tokens (NFTs), may present new risks.

In a study published on Friday, the Treasury found that there is some evidence of money laundering risk in the high-value art market, but limited evidence of terrorist financing risk, the Treasury said in a statement.

It said that those most vulnerable in the market are businesses offering financial services that are not subject to anti-money laundering or countering terrorism financing obligations, warning that asset-based lending “can be used to disguise the original source of funds and provide liquidity to criminals.”

A senior Treasury official told reporters next steps include engaging stakeholders such as those in Congress or in the industry to get their feedback, adding that the Treasury hopes the study will encourage industries to take additional steps to make it harder to launder illicit proceeds through the art market. The Treasury will give further thought as to whether additional regulatory steps are needed in this market, the official said.

The study also said that depending on the structure and market incentives, the digital art market, such as NFTs, may present new risks, as the characteristics of digital art make it vulnerable to money laundering.

NFTs are a form of crypto asset which exploded in popularity last year. All kinds of digital objects – from art to videos and even tweets – can be bought and sold as NFTs, which use unique digital signatures to ensure they are one-of-a-kind.

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RadioShacks Epic Return Aims To Connect Older Generations To DeFi

American retailer RadioShack is shifting its focus from electronics to crypto, claiming that it will be able to bridge the gap with older generations and bring blockchain technology closer to mass adoption.

“It is our hypothesis that the best way for crypto to be more mainstream is for an established brand name in the tech space to lead the way,” RadioShack writes in its proposal.

“The older generation simply doesn’t trust the new-fangled ideas of the Bitcoin youth,” it adds.

The 100-year old franchise recently laid out its plans, announcing the launch of a RADIO token as part of RadioShack DeFi (decentralized finance). Decentralized finance describes blockchain-based protocols that allow people to exchange funds without the need for an intermediary, like a bank.

RadioShack’s DeFi plans will help users trade tokens with each other without having to go through a traditional broker. The project is made possible through the Atlas USV (short for Universal Store of Value) protocol, which allows other applications to be built on it. 

RadioShack filed for bankruptcy in 2015 and again in 2017. The legacy retailer was bought by Retail Ecommerce Ventures in 2020, run by Alex Mehr and Tai Lopez, who are also the minds behind Atlas USV. Retail Ecommerce Ventures has a holding company portfolio of a number of established-but-struggling retailers, including Pier 1 Imports, Steinmart, and Dressbarn. 

 ”RadioShack has one objective: Distribution and usage by millions of individuals but possibly more important, by hundreds of blue-chip, large corporations as their gateway into becoming blockchain companies,” the company writes.

RadioShack goes on to say that the crypto industry has thus far missed the mark by focusing on “speculation and not enough on making the ‘old-school’ customer feel comfortable.” It notes that there is a “real generational gap” between the average crypto user and a corporate CEO.

“This demographic difference creates a substantial psychological barrier to crypto adoption,” the company says.

While it’s unclear when the RADIO token plans to launch, you can sign up for the waitlist via the company’s website. ”RadioShack, and RadioShack alone, can bridge the gap and ‘cross the chasm’ of mainstream usage for cryptocurrency,” the company claims. 

Article Via Rosie Perper @ Hypebeast.com

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Is Las Vegas The Next Silicon Valley? More Tech Companies Relocating

An influx of tech companies and workers have moved into the valley to find greater opportunities and help diversify our economy.

Throughout the past couple of months and during the pandemic, many companies have looked for more affordable real estate, a better quality of life, and fewer pandemic restrictions.

Arya Bina is the founder of Kobe Digital, and he says that is the main reason why he moved his tech company’s headquarters from Los Angeles to Las Vegas. He says the days of our city only being a destination for gambling, resorts, and entertainment are over.

“There is enough momentum here where it is not like you are going into a place with a completely blank slate,” Bina said. 

Bina says based on his predictions, Vegas will be the next big tech hub. His company is an advertising agency that helps tech industries grow. After being in Southern California for five years, he says he realized he needed a city with more opportunities.

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Facebooks Collapsing Rebirth: Countdown To The Metaverse

​About two weeks ago I posted on a private social media page how Facebook was toxic for individuals with anxiety, PTSD, and other mental health conditions. In comparison, I urged those seeking professional and serious business connections in the cannabis and crypto industries to use LinkedIn. The social media platform has a high number of business owners and content creators who publish valuable and worthwhile posts. People conduct themselves more seriously on LinkedIn is what I have noticed, and it’s been this way consistently for years. 

It wasn’t until this past summer when a tragic event occurred in my life that I transitioned to using LinkedIn again. I actually turned off the notifications of invite requests only at the start of this year. I would let them pile up in my inbox knowing one day I’d sign on again. But as Facebook showed me memories that I didn’t want to view instead of searching their settings to see if there was an option to turn it off, I decided it was time for our virtual relationship to end.

About a year ago I had a pair of earrings that I designed to go viral on Facebook and it was the largest amount of orders that I had ever received. As an artist and designer, it felt great to receive recognition for my work. My inbox started to get flooded with women asking for my website. As I responded as quickly as I could, Facebook started to block any messages that I sent with a link. They notified me of 48 hours when I could send a link in my messages again. I know, I know spam prevention control. But I was not initiating these messages, I was only replying.

After this magnificent event occurred in my art life, I was encouraged (motivated) to share more. Despite the message situation. I mean, that is what the platform encourages to make the algorithm work for you, right? Share! Share Share! The more I shared, the fewer views it said I had. I tried scheduling posts, posting organically, and I even tried ads. Facebook would offer $10-$50 credit for creating an ad but I would never see the credits after I paid.

I posted in “professional” art and business groups but over the last year “follow for follow train” posts would take over, some groups would not allow you to share your business link (which made no sense to me), some groups let scammers comment on everyone’s post, and in others, the admins would demand you follow them on Instagram before approving your post. The biggest hustle I witnessed was attractive women group admins charging $10-$50 for you to post in their group.

At this point, I was only using Facebook to promote my art, and the free and paid methods weren’t working on my behalf. 

Facebook made saying goodbye easy.

Over the years I, like many others, questioned the violent viral videos, the completely off recommendations for suggested friends, how you could select not to see content but it was still appearing, the spike in irrelevant ads, and the disappearance of posts from those on your friendslist.

Facebook outgrew itself.

Too many new (ideas) services, options, and constant updates. Not enough focus on bettering society with such a powerful and accessible platform. The scariest thing about the recent outage was the thought of the millions of people refreshing their app for hours who didn’t even have a business but just wanted to have access to their feed. Pointless feed checking. An unhealthy social media addictive habit that started because of Facebook.

On October 28th Facebook CEO Mark Zuckerberg will continue the conversation of the company rebrand, new name, and his focus on building the metaverse at the annual Connect conference.

There will be fake outrage by the Facebook social media world that has in my opinion dumbed down the smartest of individuals. ​Mark has stated that he wants to focus on the younger generation. I don’t know if this is his way of trying to give back to the global social media community after the damage Facebook has done but as the once viral saying goes: Hide Your Kids.

Article By K. Crystal Carter

K. Crystal Carter is a cryptocurrency and blockchain enthusiast who is originally from Oakland, California. She has 7.5 years of experience in the financial industry, and 6 years of being a cannabis hydroponics grow director and cannabis advocate at local City Hall meetings. She currently resides in Las Vegas as one of the lead Earthy Realist team members.

Related: Wall Street Sends A Clear Message To Facebook


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Blockchain Is Unstoppable And Rapid Innovation Is Leading Startups In The Right Direction

Blockchain technology has been an emerging enterprise solution and its adaptation is only speeding up, especially within the last few years. Rapid Innovation provides a direct solution to assist startups and entrepreneurs in integrating blockchain into their businesses by planning, designing, providing architectural engineering, building, testing, launching and upgrading through adoption and integration of this sector in tech.

We had the pleasure of learning more about the company by speaking with Mark Bardi who is head of marketing at Rapid Innovation.

Let’s take a look at how their company can advance the project you are developing.

About Rapid Innovation
Rapid Innovation is a blockchain app development company focused on helping entrepreneurs and startups build great products that decentralize the internet. 

We are on a mission to build great products that speed up the adoption of blockchain technology because we believe in its power to bring greater economic freedom to people around the world.

When was Rapid Innovation founded? And why?
Rapid Innovation was founded in the year 2019 by the three co-founders, Jesse Anglen (CEO), Prasan Dey (CTO), and Tyson Faulkner (President). We started the company together to fill a void we saw in the market for reasonably priced, blockchain focused web and app development. We were active investors in cryptocurrency and operators in the blockchain space dating as far back as 2015.

Who is your ideal client?
Our ideal clients are visionary founders and startups who have a clear vision and some initial seed capital, who are looking to hire an experienced blockchain development team who can take them from idea to launch.

What problems within the tech industry can be solved with your company?Blockchain is a revolutionary new technology that is transforming industries around the world. Due to it’s novelty and complexity, it is not easy to find experienced developers who can build high-quality products, reasonably quickly, for a fair price. That’s what we strive to do.  

Approximately how soon can a client expect their app to be built when working with you?
This will really depend on the scope, budget, and timeline for each project. That said, we strive to get an MVP (minimum viable product) to market for our clients in 90 days or less.

Does Rapid Innovation provide ongoing or lifetime support for its clients?
We will do our absolute best to provide on going / lifetime support for our clients up to a certain point past the delivery date, but typically our best clients know that software development is a continual process of adding new features, enhancing existing features, and fixing bugs, so a lot of them keep us on a monthly retainer. We want to ensure that all of our clients are happy and successful.

What are the benefits of a company switching over to blockchain?
There are many benefits for a company to switch over to blockchain, but they vary greatly depending on the product/service, industry, sector, etc., so possibly too difficult to list out a general set of prescriptions. At its core, the invention of blockchain technology is important because it gives us a powerful computing platform with new capabilities that were never possible before.  For the first time, we have the ability to transfer value (money, financial assets, identity, property rights) to anyone in the world without the need for a “trusted” third-party. We can now move money as easily as we move information — to anyone, anywhere, at any time, with nothing more than a basic smartphone. A better form of money — one that’s native to the internet with a known supply and a transparent monetary policy that cannot be easily changed. We can now empower developers from every country on earth to crowd fund and build businesses that solve real problems for their communities. Because, for the first time ever, they can access a global supercomputer called the blockchain that cannot be censored nor requires anyone’s permission to access.

What are the benefits of working with your company in comparison to your competitors?
The benefits of working us is that we’re a highly experienced blockchain development team based on the west coast of the U.S. who runs a boutique shop that only takes on a few select, high-quality projects at a time. We walk each and every one of our clients through a strict 7-step process – from concept to launch. Our core team has worked side-by-side with some of the biggest names and brands in the industry – having played a key role in building over 100 blockchain applications that are still used today.

Are you looking for an experienced team to build your blockchain app? Contact Rapid Innovation today.

Article By K. Crystal Carter

K. Crystal Carter is a cryptocurrency and blockchain enthusiast who is originally from Oakland, California. She has 7.5 years of experience in the financial industry, and 6 years of being a cannabis hydroponics grow director and cannabis advocate at local City Hall meetings. She currently resides in Las Vegas as one of the lead Earthy Realist team members.


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