Episode Details

04th Sep: Blockchain DXB Podcast
🚀 Bitcoin hashrate 🏦Bank of Japan - Interest rate hike ❗Ripple smart contracts to XRP Ledger 👁️ Terraform Labs moves $62M worth BTC 💰Central banks - Gold accumulation🚨
🚀 The Bitcoin network hash rate hit a new high of over 740 exahashes per second on September 3rd, despite a recent 10% drop in Bitcoin's price. This surge reflects strong confidence in Bitcoin's long-term sustainability, with major mining companies like Whatsminer and MicroBT launching advanced machines to capitalize on the trend. Riot Platforms also expanded by acquiring Block Mining for $92.5 million. While the rising hash rate doesn't directly impact Bitcoin's price, it enhances network security and often signals upcoming bullish trends. via Bitcoin Magazine https://shorturl.at/thxWt
⬛ Bank of Japan Governor Kazuo Ueda has indicated that the central bank may continue raising interest rates if the economy and inflation meet expectations. This follows a July rate hike that led to the unwinding of yen carry trades, which in turn destabilized risk assets like cryptocurrencies. The potential for further rate increases could have additional effects on these markets. Info via Bloomberg here https://rb.gy/96r6ik
🔵 Ripple is expanding programmability including smart contracts, to the XRP Ledger developer ecosystem. This move aims to provide builders, entrepreneurs, and users with additional customizability for a variety of use cases, accelerating innovation and attracting developers looking to leverage XRP Ledger's expanded capabilities. Info here https://shorturl.at/wt33e
- Some features include Escrows, NFTs, authorized trust lines, payment channels, and the DEX + AMM
👁️ Arkham Intelligence has highlighted that on Sept. 2, Terraform Labs moved more than 1,075 Bitcoin from one of their wallets, Do Kwon could have had access to the Terraform Labs wallet containing more than 1,075 BTC? Details of the transaction are here https://shorturl.at/NPznp The power of Publicly verifying transactions - one of the pillars of Open Blockchain. These transactions won't be publicly available once CBDCs go live!
💰 Krishan Gopaul, Senior Analyst at the World Gold Council reported that central bank net gold purchases surged more than twofold to 37 tonnes in July. The National Bank of Poland emerged as the top purchaser for the month, with the Central Bank of Uzbekistan & the Reserve Bank of India (RBI) following closely behind. Article here https://shorturl.at/pphAW
What does this mean for Gold and Bitcoin? Check out today's Blockchain DXB episode we discuss the following
❗ Implications for Gold
- Safe Haven Appeal:
- Continued Demand
- Price Support:
❗ Impact on Bit