What Does a 'Layer 2 Blockchain' Mean?

Since Satoshi Nakamoto released the Bitcoin whitepaper in 2008, blockchains have continued to gain popularity.

People have applied blockchain technology to other areas, besides payments, thanks to its decentralised and secure nature.

Scalability is what Ethereum founder, Vitalik Buterin, calls a component of the "blockchain trilemma."

Buterin's thesis explains that no blockchain network can equally provide decentralisation, security, and scalability. They must sacrifice certain elements to achieve near-optimal functionality.

Bitcoin and Ethereum trade off scalability for security and decentralisation for scalability. That explains why a major blockchain network like Bitcoin can process around 7 transactions per second. For context, Visa's payments system can process up to 24,000 transactions per second.

If blockchain technology must attract more users, it must solve the scalability problem. Several solutions have appeared in recent years, including the now-popular “layer 2” protocols.

Click HERE to find out what layer 2 blockchain means, how it works, and why it’s important for blockchain adoption.

DeFi - Definancializing Productive Activity

As software and hardware engineers around the world are untangling the centralization of the internet, a vocal portion within the enclave of blockchain-based solutions - generally referred to as decentralized finance - or DeFi for short - has emerged. While blockchains provide the building blocks for reliable information and - to a lesser extend value - transport functions - a layer of middleware to the larger concept of cryptographic primitives mapped by protocols, current developments are largely focused on digitally native assets, and their derivatives.

You can read the full article HERE.

Is 'Buy Now, Pay Later' the Future of Consumer Lending?

Some view soaring BNPL as an existential threat to credit cards and traditional bank loans. Others argue there are strong opportunities.

Read the full article HERE

Warren Buffett Leaves The Audience SPEECHLESS - One of the Most Inspiring Speeches Ever

Warren Buffett shares two stories about women who started from nothing and sold their businesses to the legendary investor. This is one of the greatest speeches Mr. Buffett has ever delivered and he also gives really good advice to all entrepreneurs in the audience. Warren E. Buffett is an American long-term investor, philanthropist, business tycoon, and the chairman & CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over 100 billion dollars. Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth and made truly incredible stock market returns over his career.

 

The Fed Plans to Taper. Here’s What That Means

The Federal Reserve says it will accelerate the wind-down of its bond-buying program, the biggest step the central bank has taken in reversing its pandemic-era stimulus. Here’s how tapering works, and why it sends markets on edge.

Musk Named Time's Person of the Year After Tesla's Stellar Run

Elon Musk was named Time magazine's "Person of the Year," capping a run during which the head of Tesla Inc. solidified his standing as the world's richest person and turned his onetime electric-vehicle startup into a $1 trillion company.

Watch Crypto expert explain the Blockchain to Congress

At a congressional hearing on crytpocurrency, Bitfury CEO Brian Brooks explains the blockchain and how it plays an integral role in Web 3.0.

 

Key Supply-Chain Link Faces Perfect Storm This Holiday Shopping Season

Warehouses in California’s Inland Empire are a crucial step in the U.S. supply chain. Low warehouse vacancy rates in the area combined with port delays are creating a perfect storm of challenges this holiday season. 

 

Marc Winitz, CMO at Rapyd, on the fast-paced payments industry

On this week's episode of Spotlight Mariette Ferreira is joined by Marc Winitz - CMO at payments fintech Rapyd. The pair dive into Marc's career, his role at Rapyd and what the team there are working on, before taking a look at the wider payments industry - one of the most exciting areas of financial services. 

 

Retailers Grapple With a Spate of Smash-and-Grab Robberies

A spike in smash-and-grab robberies is driving retailers to find new ways to boost security and protect merchandise this holiday shopping season. Retailers say organized crime incidents have risen during the pandemic.

 

'Tesla as the World’s Biggest Robot Company' Elon Musk on AI and U.S. Innovation

Watch Tesla CEO Elon Musk in an interview with WSJ’s Joanna Stern at the CEO Council Summit.

Evergrande Says It’s Back to Work, But Homeowners Say Not Fast Enough

The world’s most indebted real-estate firm Evergrande has embarked on a social media campaign to show construction has resumed and says it’s doing whatever it takes to deliver homes. WSJ compares these posts with ones from upset buyers.

 

Banks and DeFi – like garlic to vampires? Or more like Peanut Butter and Chocolate

Alternative money management methods and payment approaches are also gaining speed, complicating the relationship between consumers and their preferred banking methods. With all of this change, where is DeFi’s place in banking? Is there a place for it? Join this must-see PYMNTS TV special as Editor-in-Chief Matt Nesto is joined by Algorand Director of Business Solutions Giuliana Berchicci and Bnext CEO & Co-Founder Guillermo Vicandi to discuss the state of the industry. 

Connected Economy

Are Biometrics Replacing Passwords? Uncovering What Users Really Want (and Need)

Identity verification is integral to the secure use of digital platforms, many of which have become staples of consumers’ lives in recent years. But with so many authentication methods – from traditional passwords and usernames, to biometrics like face and fingerprint scans – it can be challenging to know just what consumers prefer from their apps and digital accounts, and how best to optimize these experiences from a merchant standpoint. In this virtual roundtable, PYMNTS Editor-in-Chief Matt Nesto hosts industry leaders to discuss this topic and more. Tune in.

Soaring NFT sales redraw the art market - FT Film

The market for non-fungible tokens, or NFTs, is soaring, reaching $10.7bn in the third quarter of 2021. For the art world it's a new frontier, where ownership of digital assets is encrypted on the blockchain. The FT talks to artists, auction houses and collectors about how NFTs are bringing in new buyers and setting records for sales of digital works, and we follow a painter making his first NFT.

 

What are stablecoins and how do they work?

FT banking and fintech reporter Siddharth Venkataramakrishnan looks at how the digital assets are used, why they are growing in popularity - and why they are in regulators' sights.

 

Maximizing Checkout Conversion: Why Payments Choice at Checkout Must Offer Lease to Own

Merchants are dialed into the reality that more payments options at checkout increases the odds they’ll make a sale. New data shows that one of those options now must include a lease to own option, particularly for merchants selling expensive durable goods. With 57 percent of the US population — and 39 percent of those making more than $100k a year — now living paycheck to paycheck, many need the flexibility that this payment option offers, while giving merchants a new way to convert customers who might never consider them an option for making such a purchase. Tune into this conversation with PYMNTS CEO Karen Webster and expert guests to learn more.

Why it's harder to earn more than your parents - The Economist

In the 21st century it's got harder to earn more than your parents and to climb the social ladder. What's gone wrong, and what can be done to change this?

 

Are investment groups killing US newspapers?

Today about half of America’s newspapers are controlled by private equity, hedge funds and other investment groups. But as the FT’s James Fontanella-Khan explains, one name stands above the rest: Alden Global Capital. The Alden recipe is to get rid of the newsroom, sell the real estate, and viciously cut costs. Critics say it’s destroying local newspapers, but Alden says it’s saving them.