Evening News ｜Beijing issues Beijing Internet 3.0 work plan; Vitalik publishes article discussing multi-signature wallets and social recovery wallets
Hong Kong will introduce a licensing system for virtual asset service providers in June; Binance will delist HNT and WABI on March 24.整理：flowie，ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. Beijing Issues Work Plan to Promote Innovation and Development of Beijing Internet 3.0 Industry
The Beijing Municipal Science and Technology Commission, the Management Committee of Zhongguancun Science Park, and the Beijing Municipal Bureau of Economy and Information Technology issued a notice on the "Work Plan for Promoting Innovation and Development of Beijing Internet 3.0 Industry (2023-2025)" to promote the innovative development of Beijing's Internet 3.0 industry.
The notice points out that Internet 3.0, as a new form of future internet industry development, is accelerating under the impetus of information technologies such as virtual reality, artificial intelligence, and blockchain, which will bring transformative impacts on future technology and industrial development as well as social and economic forms. To seize the opportunities of a new round of technological innovation and industrial transformation, this work plan has been specially formulated to promote the innovative development of Beijing's Internet 3.0 industry.
The plan proposes to promote key core technology breakthroughs such as blockchain, support the research and development of technologies based on blockchain for digital identity, digital supervision, etc., and support the construction of a trusted virtual system for Internet 3.0; support the research and development of technologies for blockchain-based proof of ownership, privacy protection, cross-chain collaboration, data identification, etc., to achieve interoperability and mutual recognition of Internet 3.0, and to protect data security and privacy; support research on smart contract technology aimed at Internet 3.0, flexibly supporting programmable development for various application scenarios, enhancing the adaptability and flexibility of Internet 3.0 scenarios.
Build a digital asset circulation service platform. Establish a digital trusted technology support platform based on the Chang'an Chain Collaboration Network, legally explore services such as trusted identity, trusted proof, trusted data, trusted cross-chain, data identification, and privacy computing; research and develop functions such as digital asset registration, custody, and evaluation; conduct research on regulatory policies related to data classification and digital asset registration and issuance in accordance with laws and regulations, and explore the construction of regulatory and governance models for the Internet 3.0 economic system. (Source link)
2. Arthur Hayes: BTFP Plan Prints $4.4 Trillion, Federal Reserve Set to Reverse Tightening Cycle
BitMEX founder Arthur Hayes stated, "The Federal Reserve's Bank Term Funding Program (BTFP) is a form of quantitative easing that has printed $4.4 trillion, even more than the $4.189 trillion printed to respond to the COVID crisis. Although the BTFP plan is stipulated to last only one year, it is almost certain that this plan will be preemptively extended.
As the market begins to price in deflation, it is expected that the Federal Reserve will either start cutting interest rates at the upcoming March meeting or a severe economic recession a few months later will force it to pivot. Since the outbreak of the banking crisis, the yield on 2-year Treasury bonds has fallen by more than 100 basis points. The market is loudly calling for deflation supported by the banking system, and the Federal Reserve will ultimately listen. In this banking crisis, cryptocurrency has once again proven to be the smoke alarm of the stinky, wasteful, fiat-driven Western financial system." (Source link)
3. Vitalik: Self-Custody is Very Important, Both Individuals and the Ethereum Foundation Use Multi-Signature Wallets to Store Most Funds
Ethereum co-founder Vitalik Buterin stated on social media that self-custody is very important, and social recovery and multi-signature wallets are good methods to achieve this goal.
"I personally use a multi-signature wallet to store most of my funds, and the Ethereum Foundation does the same. Once social recovery wallets become mature enough, my suggestion is to use social recovery for storing a small portion of funds in hot wallets for individuals or organizations, and to use multi-signature wallets for storing savings of individuals or organizations in cold wallets." (Source link)
4. Chan Mo-po: Hong Kong Will Introduce Licensing System for Virtual Asset Service Providers in June
The Financial Secretary of the Hong Kong SAR Government, Chan Mo-po, stated in a video address at the 2WEB3 FEST Hong Kong 2023 event that the virtual asset industry has been developing steadily in Hong Kong over the past few years.
Chan Mo-po stated that under the principle of "same activities, same risks, same regulation," Hong Kong will introduce a licensing system for virtual asset service providers in June this year. "We believe that by establishing a suitable regulatory licensing system and eliminating the bad actors in the industry, it will help enhance the overall image of the industry and promote the healthy, orderly, and responsible development of the virtual asset industry." (Source link)
5. Binance: HNT and WABI Will Be Delisted on March 24
According to an official announcement, Binance will delist HNT and WABI at 11:00 AM Beijing time on March 24 and stop trading on the HNT/BUSD and WABI/BTC trading pairs. After trading on each respective trading pair stops, all trading orders will be automatically deleted. (Source link)
6. Arbitrum Establishes Security Committee and Discloses L3 Blockchain Arbitrum Orbit for Direct Deployment by Developers
Arbitrum announced the establishment of the Arbitrum Security Committee, which is composed of 12 community representatives and requires the participation of 9 out of 12 members in emergencies to take security emergency actions. The Arbitrum DAO will become the ultimate governance organization of the Arbitrum Security Committee.
In addition, Arbitrum also disclosed the L3 blockchain Arbitrum Orbit, which developers can directly deploy. Developers launching L3 on Arbitrum One and Nova will automatically receive free and permanent licenses to use, modify, and customize Arbitrum technology for their L3 chains. The Arbitrum Orbit L3 chain will also support the upcoming Arbitrum Stylus, which will allow developers to use C, C++, and Rust programming languages, as well as Solidity and other EVM languages for their chains. (Source link)
7. Data: Approximately 625,000 Addresses Eligible for Arbitrum Airdrop, Average Airdrop of 1,895 ARB
According to data from @Blockworks_ on Dune, there are a total of 625,143 addresses eligible for the Arbitrum airdrop, with an average of 1,895 ARB airdropped to each account. (Source link)
8. SPACE ID: Tokens Airdropped to Early Adopters Account for 2.1% of Total ID Supply
The decentralized identity protocol SPACE ID announced that its total token supply is 2 billion, with 10% of the total supply reserved for community airdrops. Of this community airdrop, 21% (accounting for 2.1% of the total supply) will be eligible for all early adopters of SPACE ID. The remaining portion of the airdrop allocation will be reserved for contributors in future activities and will be gradually released. (Source link)
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
The recent discussions surrounding the Federal Reserve's new Bank Term Funding Program (BTFP) have been heated. BitMEX founder Arthur Hayes analyzes why the BTFP plan is so groundbreaking and ultimately damaging to depositors, stating, "The Federal Reserve's Bank Term Funding Program (BTFP) is a form of quantitative easing that has printed $4.4 trillion, even more than the $4.189 trillion printed to respond to the COVID crisis. Although the BTFP plan is stipulated to last only one year, it is almost certain that this plan will be preemptively extended."
Two key issues for safely using multi-signature wallets and social recovery wallets are: (i) who you choose as guardians, and (ii) what instructions you give them. Vitalik outlines how he thinks about this issue, much of which should also apply to multi-signature and social recovery wallets used to safeguard personal and organizational funds.
The most fervently discussed topic on the internet recently is undoubtedly OpenAI's release of the GPT-4 version and how powerful GPT-4 is, even being considered capable of disrupting traditional work patterns and bringing immeasurable growth potential to the Web3 world.
Regarding the significance of GPT's emergence and the combination of the AI ecosystem represented by GPT with Web3, the veDAO Research Institute also holds an optimistic view and explains the development advantages of Web3+AI and related emerging Alpha projects, providing a clearer understanding of this track for everyone.
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